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A number of marketplace factors sometimes make it difficult
to sell your property. But here's the kicker - the longer
it sits, the harder it becomes to strike a beneficial deal.
So, if your home is sitting, don't wait too long to make a
decision. Here are some tips that'll help get things moving:
Listen to Feedback: Ask your
agent to gather feedback from colleagues who have shown your
home. If location comes up as an objection, you may have to
reduce your price. But if it’s your home's appearance
that people are balking at, make the fixes you can, like cleaning
your basement or painting the interior.
Reduce Your Price: This choice
is obvious. If the market slows after you list your home,
the comparable home sales used to set your original price
may be too high. Consider dropping your asking price by as
much as 10 percent; that's a strong indication to agents that
you are a motivated seller. If after another four to six weeks
buyers still don’t show much interest, it is time to
cut your price again.
Change Agents: If your listing
contract is set to expire, evaluate your agent's performance
in light of your market’s current conditions. An agent
who has demonstrated strong knowledge about you, your property,
and your neighborhood is likely worth keeping, especially
if he or she has good suggestions to improve your situation.
But an ineffective agent who clearly has inflated your list
price to get your business probably isn’t worth doing
business with.
Take Your House Off the Market:
This is always a tough decision. But, if you aren't rushed
to sell, withdraw from the market before your home is stigmatized
by a no-sale.
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