In the time I have been writing this weekly column, I have been asked more about pricing a home and when to reduce the original listing price than any other subject. By the way, thank you for being an avid reader, it makes what I do very gratifying. So, since you have read my previous columns about this subject, let me just cut to the chase.
Firstly, I cannot convince you to keep your sales price or to lower it. You have a real estate agent that represents you. This is a conversation, and a decision, for your agent and your family to have. Now, let me be blunt. If your home has not sold, then you have to dig deep within and figure out why. We all know that mortgage rates are up. We all know that we are part of a global economy, and things are not hunky-dory for everyone. But and this is a big but, there are still homes selling regardless of current conditions. Go to Zillow or Realtor.com and you will see this is the case.
Dig deep. I have a buddy that is going on 80 years young. I used to go to the same gym that he was a member of. He carried wallet photos of when he was in his 20’s and often displayed them to show us that he looked younger today than when he was that age. He was serious. We all encouraged him and told him right on. The truth? He was 80, not 20. I hope he is not reading this column. LOL. He may never talk to me again. I’ve previously written that when your home first hits the market everything must be spot on. Pricing, photos, description, and advertising. Is all this perfect? Close to perfect? Then your home should have sold. If any of those are off, your home will sit for a while without selling. That’s the short answer. Sit down and talk to your agent. Something needs to change or be adjusted. People frequently attribute this saying to Albert Einstein, although there is no evidence he said it. But it applies here… “Insanity is doing the same thing over and over again and expecting different results.” So, you have three choices. Leave everything the way it is, and perhaps a buyer will come along and purchase your home. It has happened. Or change something. Or take it off the market. Pros and cons to each choice. Again, this is a conversation for your agent and your family to have. Best of luck and please let me know if you have any follow-up questions.
