At some point, when a buyer hasn’t made an offer on a listing, sellers begin to wonder when to consider lowering your price on a Parrish listing. There’s several factors you should consider, though. Ignoring them will result in lost time and possibly a lost season. Consider the following.
When It’s Time to Consider Lowering Your Price on a Parrish Listing
How long has your home been on the market compared to similar homes? If this is the case, you might want to consider reducing your listing price. Buyers have checked out homes with the same criteria as yours and moved on.
How long has it been on the market? Ok. If it was listed last week, you might just be too anxious. On the other hand, if the selling price is just right, you’ll see offers within the first two weeks. So, you have to compare similar listings and their DOM, days on market, with your listing agent and discuss if it’s time to lower the price.
Have there been any showings? If not, this is a good sign that your home is overpriced and you’ll need to adjust the listing price.
Are there plenty of showings and no offers? You might need to consider the price if a lot of potential buyers are viewing your property but you have no offers.
The time of year. Are you trying to sell when real estate is typically slow? Now, this has its advantages like less competition, but you might need to lower the price if you’re not getting the desired results.
Bad feedback. Is your agent getting bad feedback from buyer’s agents? You’ll either have to make improvements or adjust the price.
I’m here for any other questions you might have regarding when it’s time to consider lowering your price on a Parrish listing. Contact me and we can talk.