Tuesday, May 27, 2008

My House is on the market. I have showings every week but it doesn't sell...Why?

This seems to be the lament of many a frustrated seller in today's market. Aggressive pricing seems to be the key to contract, but certainly location and condition are important factors. The real truth of the matter is that there are so many choices in almost every price range. It is difficult but critical to pull away from the pack some way or another. A year or so ago we were seeing sellers offering bonuses to buyers and/or agents. This is still something to consider. Offering a higher commission will often more generate showings, however, if the property is not competitive with the other homes at the same price, that may not be the key. Offering to pay a part of the buyer's closing costs in some price ranges could attract the buyer. In the case of a condo or townhouse, several month's paid assessment might be a the ticket. The most important thing is to stay close to your Realtor. Ask to see listings that are in competition with your home as they come on the market as well as listings that have been reduced in your price range. Marketing and selling is a process. It needs constant reevaluation and revising.

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