So much focus it placed on price in the real estate business…sometimes we forget there are other things that effect the saleability of a home.
It didn’t sell…so let’s lower the price….again. Of course price is one of the most important factors in the collection of reasons a house sells or doesn’t. And, yes, you can make up for any weakness a property has by adjusting the price… however, there may be better ways to get to the goal we are looking for…SOLD!
I’ve seen many homes that needed a face-lift with exterior paint, landscaping…a new front door. Sure you could reduce the price by $20,000 or $50,000 but maybe spending $5,000 or $10,000 would bring a quicker result and put more money in your pocket in the end.
Consider helping your buyer with closing costs instead of a price reduction. That may make yours the most attractive house from a financial view compared to the others in your price range to the buyer with limited cash.
House next looking bad? I once suggested my seller contact his neighbor and offer to hire a gardener and painter to fix up their house. Sounds crazy to spend money on someone else’s property? My seller spent about $6,000 and removed the biggest obstacle to selling his home! We sold the house for full price within 2 weeks after the work was done next door! (Not everyone’s neighbor would be receptive to this idea, of course)
Price may be the easiest way to find a buyer quicker but there may be better ways.
John Bogner
