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My home been on the market for 117 days what should I do ?

I’ve changed the price five times and nothing is happening should I price it back up everything works it’s a cute house not sure of my realtors marketing strategy I figured go down on the price but was told that long on the market and lowering the price people will think something is wrong with it. was thinking to relist it
Asked By Rhonda | Folsom, CA | 75 views | Selling | 3 months ago
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Rising Star
18 Answers
Tom Matthews

Gibson Sotheby's International Realty

(57)

Rhonda, I am sorry to hear that you find yourself in this position. This is my advice and I have been selling real estate in Concord, MA for the past 22 years. I am not in your particular market but do have some thoughts. 1. I would pull up all the houses that are for sale within .25 miles of your home and review their Zillow listings, I would drive by, and potentially go to open houses. How does your home stack up? 2. Ask your Realtor to run an absorption rate analysis which will tell you home many months it takes to sell a home in your market. I remember markets where perfectly priced homes would take 6 months to sell. 3. Are you properly marketed with enough photos? 4. Do you have any condition objections? Did you know you can not get FHA or VA financing if the home has flaking paint? 5. Sometimes it does make sense to higher a new agent and make a change. Hope this helps, Concord, MA real estate
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Novice
2 Answers
Allison Cassieri

North Metro Realty

(115)

Hi Rhonda, lowering your price once may be ok, but more than that you are sending the wrong message to the public. Depending on your contract with your agent, it might be best to take it off the market, take new photos/drone and re-list at the sweet spot.

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Novice
2 Answers
Matt Householder

Real Broker

(26)

So there are several factors that are important to consider. First, how is the home presented? Second, how is the home priced compared to active comparable homes on the market? Third, are you getting showings? Forth, have you received any offers. If you are getting showings and no offers it is most likely price? If you are not getting showings, it could be price or presentation. Have you received any feedback from the individuals that have previewed your home?

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