price reductions

February 8, 2020

So you have listed your home for sale. Then the buyer feedback coming in is the price is too high. Now, buyers are out there seeing property and using online data to form their opinion. You decide to drop the price. Or, maybe your Realtor advised a new price. The rule of thumb is if no showings at all the property is up to 10% too high, and if showings but no offers the property is around 5% too high.
There is something else going on here. An adjustment in price will cause the MLS to resend the property to any buyers with an auto search set up. So, adjusting the price can cause your home to show up at the top of a buyer’s list of homes for that week.
Curious about pricing strategy contact me.
Norm Odeneal www.CALLNORM.com 703-587-0945 Licensed Realtor in Virginia “Your Local Expert”
KW Metro Center – 2101 Wilson Blvd. Suite #100 Arlington, VA 22201 7032246000 -Mobile Search- Download My mobile search app here

Here is an example of what a home seller did recently. Who IMO didn’t use this tool correctly.