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Lyn Sims

Broker Associate

5 Items to Consider Before Reducing the Price

5 Items to Consider Before Dropping the Price

 


When a house won't sell, the answer is often to drop the price, but how much and when?  The following are some items to consider:

 
  • Price the house right to begin with - it will get the most acitivity when it first goes on the market.
  • Lower the asking price sooner rather than later while it's still fresh in buyers' minds.
  • If there has been no offers in one to two months time - consider dropping the price, then re-evaluate every two to four weeks.
  • When you drop the price, lower it enough to make the home the top house in a lower price range rather than the bottom house in a higher range.
  • The most expensive the house, the greater the decrease needs to be to attract new buyers.

 

Price the house right to begin with!