Do Not Just Drop The Price!
Do you want to sell your house, need help? So what do you do when you have been on the market for a while and nothing is happening? Do you change agents or do you stick it out with the agent you have? Do you drop your price or leave it as it is? Do you spend more money on advertising it?
For the past month or so we have fielded many calls from concerned sellers as to what they should do next in a bid to sell their house so they can move on. Some had even changed agents already thinking that that was the answer and still nothing. Some were even on their third agent!
There are a few factors to consider before you make the next move.
Let’s look at reality… the market is pretty tough at the moment, properties are taking significantly longer to sell and prices have dropped somewhat.
Before you go making changes you need to establish what needs to be changed.
Why is your property not selling?
Are you really affected by tougher market conditions?
Are you keeping in touch with current sale prices in your area?
Are you with the right agent?
As sellers we all want to achieve the best price we can at the time. For some people it is not necessarily about price but more on what they are going to do when they have sold.
Many sellers who change agents find out that the grass is not greener on the other side and all they do is reduce the price, and then reduce the price because they end up so frustrated with the whole process taking so long.
If your price is not reflective of the current market then it does not matter what you do, the result will still be the same, no sale!
Talk openly with your agent about properties that have sold in the last 2 to 3 months while yours has been on the market, this will allow you to check your pricing. If you ask your agent what you should be doing and you get answers like…. there’s nothing you can do, you just have to wait for the market to pick up or, you need to spend more money advertising it or, and get this one….I don’t know what to do… don’t laugh, I have heard that one personally! You are not with the right agent!
If your relationship with your current agent has got to the point where you can’t talk openly because YOU have the feeling that they are no longer working in YOUR best interests, then it is time to move on.
In a tough market properties swap between agents like a game of musical chairs. Before you do anything, sit down with your agent and look at what is really going on. DO NOT JUST DROP THE PRICE. If you are not sure if you are with the right agent contact us and we’ll check for you.
If your agent is doing all they can, and they should be because after all… no sale no pay, and you are otherwise happy with them you may be best off sticking with them and getting to the crux of the problem. If your agent can’t offer a reasonable solution to what to do to get a sale contact us and we will identify a better agent for you.
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