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Hi. We have been on the market for approx 60 days. Our asking price is $1,280,000. We got offers in the very beginning where we negotiated as high as 1,150,000 and 1,200,000 but taking less wasn't worth selling to us and there wasnt anything on the market that was worth going to. We are in the mid-low range priced of the other houses in the neighborhood although the others have an extra bedroom and about 15% more square footage. 3 years ago you could get my house for my listing price/maybe slightly less but everything would be 30 years old. We have done major renovations over the last few years.
Trying to give background info-question is-if we were to take the house off the market and relist it in a few weeks-what would be a conservative price drop but still enough to possibly spark interest in the house?
Hi. We have been on the market for approx 60 days. Our asking price is $1,280,000. We got offers in the very beginning where we negotiated as high as 1,150,000 and 1,200,000 but taking less wasn't worth selling to us and
sniiiiiiiiiiiip
There are far too many properties for sale where the people need to sell and will take less...
for actual qualified buyers to justify dealing with those who don't need to sell...
unless there is **something else** about your property to draw enough interest to encourage a buyer to overlook
your too high price... you're better off taking a nice vacation this summer than looking for buyers.
perhaps you can afford to finance the sale? or part of it?
Hi. We have been on the market for approx 60 days. Our asking price is $1,280,000. We got offers in the very beginning where we negotiated as high as 1,150,000 and 1,200,000 but taking less wasn't worth selling to us and there wasnt anything on the market that was worth going to. We are in the mid-low range priced of the other houses in the neighborhood although the others have an extra bedroom and about 15% more square footage. 3 years ago you could get my house for my listing price/maybe slightly less but everything would be 30 years old. We have done major renovations over the last few years.
Trying to give background info-question is-if we were to take the house off the market and relist it in a few weeks-what would be a conservative price drop but still enough to possibly spark interest in the house?
Thanks
If you are listed for $1,280,000 and turned down $1,200,000 then I would say you don't want to sell.
But now you say you want to take it off the market for a few weeks and re-list at a lower price. Being 5% would be about minimum to reduce the price to re-spark interest in people who have come across it before and you turned down an offer about 6% below where you are now what are you actually trying to accomplish?
Do you think if you reduce the price someone is going to come in and offer full price? No, they are going to offer 5-10% under your current asking price. That would put you well below offers you already had.
Why don't you have the agent call whoever offered the $1,200,000 and have the agent tell them you are getting ready to drop the price to $1,225,000 but before you do you wanted to call them and admit that you should have taken their offer and wanted to know if they are still interested.
If you are listed for $1,280,000 and turned down $1,200,000 then I would say you don't want to sell.
But now you say you want to take it off the market for a few weeks and re-list at a lower price. Being 5% would be about minimum to reduce the price to re-spark interest in people who have come across it before and you turned down an offer about 6% below where you are now what are you actually trying to accomplish?
Do you think if you reduce the price someone is going to come in and offer full price? No, they are going to offer 5-10% under your current asking price. That would put you well below offers you already had.
Why don't you have the agent call whoever offered the $1,200,000 and have the agent tell them you are getting ready to drop the price to $1,225,000 but before you do you wanted to call them and admit that you should have taken their offer and wanted to know if they are still interested.
You're probably right about not 100% wanting/ready to sell-there are not too many houses in this particular area for sale- handful-maybe we will reconsider-
also will think about the 5% reduction but understand your point of the offers will be the same % off the new lower asking price-we priced it originally with the hopes of taking off 5% in negotiations-we sold in 2001, 2004 and 2008-we realize times have very much changed-thanks
If you are listed for $1,280,000 and turned down $1,200,000 then I would say you don't want to sell.
Totally agree with this. 1.2M is an excellent offer on a home with that listing price. If you aren't willing to come down like that in price, I would just take the home off the market.
If you are listed for $1,280,000 and turned down $1,200,000 then I would say you don't want to sell.
But now you say you want to take it off the market for a few weeks and re-list at a lower price. Being 5% would be about minimum to reduce the price to re-spark interest in people who have come across it before and you turned down an offer about 6% below where you are now what are you actually trying to accomplish?
Do you think if you reduce the price someone is going to come in and offer full price? No, they are going to offer 5-10% under your current asking price. That would put you well below offers you already had.
Why don't you have the agent call whoever offered the $1,200,000 and have the agent tell them you are getting ready to drop the price to $1,225,000 but before you do you wanted to call them and admit that you should have taken their offer and wanted to know if they are still interested.
Agree with this. You don't want to sell the house. You just will if someone pays you full price. Reconsider if you're ready to sell. If you're not, please consider compensating your agent if they've spent money on marketing, because it's not fair to use their resources, but not intend to sell. We don't make money unless we do our job, but if you're not allowing that, you're taking out of their pocket. Not saying it was intentional, but you may not have considered it.
You may want to look into other things other than price too. Maybe your house isn't in the best condition, doesn't show well, etc. Sometimes changing things like that will help buyers justify a higher price.
Agree with this. You don't want to sell the house. You just will if someone pays you full price. Reconsider if you're ready to sell. If you're not, please consider compensating your agent if they've spent money on marketing, because it's not fair to use their resources, but not intend to sell. We don't make money unless we do our job, but if you're not allowing that, you're taking out of their pocket. Not saying it was intentional, but you may not have considered it.
You may want to look into other things other than price too. Maybe your house isn't in the best condition, doesn't show well, etc. Sometimes changing things like that will help buyers justify a higher price.
In our minds, we were looking to take 5% off asking price thinking it was priced fairly to begin with and making it worth it for us- financially to sell.
No listing realtor was used so no one spent any money in marketing-
In our minds, we were looking to take 5% off asking price thinking it was priced fairly to begin with and making it worth it for us- financially to sell.
No listing realtor was used so no one spent any money in marketing-
So you saved yourself the realtor commission and still didn't take that offer? That seems a bit nuts.
Wow - I'd be delighted if someone offered $1.2 on a $1.28 listing. If you're willing to drop 5% (if my calculator is right) that's re-listing or dropping to $1,216,000. Quibbling over $16K? Oh my!
I agree with the above posts - just take it off the market until you're really ready to sell. Even if you haven't used a listing agent, you took the time and efforts of the buyers agents (if potentials were represented) in showing your place. And believe me, buyer agents do a heckuva lot of work, too.
Not to mention getting those good offers in that short of time. You evidently 'sparked' enough interest at the price you had listed. Either leave it on the market, in hopes of getting that other few $K or take it off until you're really ready to sell.
Just my 2 cents.
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