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The housing market is struggling a lot today. Every seller believes their house to be the best in the market and thinks that it is just a matter of time when a buyer will fall for the house and the seller will get whatever he wants in terms of the price. This certainly does not work in this way. Some of the most common reasons behind a house’s inability to sell are condition and price. If the condition of your house is better than other houses in the market, it is probably the price of your house. Great marketing and photos help in selling your house but at the end of the day, the buyers will be comparing your house with that of the rest.

If your house is in the market for three or more months, it is time to blame the asking price. Here are a few tell tale signs to slash the listing price.

  • No one stops by for a Look: Your house has been in the market for quite some time but the showings have been quite scarce. If this is the case, it is time to ring the warning bells. In case the buyers are not even looking at your house, it is quite certain that your house is priced very high. You may argue that this does not mean that they buyers are not interested in buying your house. In case you did not have any actual showing but your online listing is receiving hundreds of hits, it indicates that people are interested in your house but the asking price is holding them back.

Are you Over Pricing your House

  • You are not Receiving Offers despite Several Showings: So your home has attracted number of showings since the time it has been in the market but it has not yet got any offer. You may certainly blame the blue carpet in the living room or the pink shower. There are several instances when wrong color choices scare away the potential buyers. In case your house is properly decorated and updated, the price needs to come down. Several experts point out that if you have had as many as ten showings without any offer, you have an overpriced house.
  • Buyers Shower Criticism: Though you had several showings, the prospective buyers are making the same negative comments about your house again and again. They may complain that your house is plagued by a pungent odor or point towards your 1970s themed kitchen. Make sure to ask the realtor of negative feedback. Though it may be difficult to hear some of the comments, constructive criticism will help to sell off house in the long run. It may be that other houses in the neighborhood have remodeled, come with modern kitchens or an inviting smell. If this is the problem, you need to freshen up your house, give your house a makeover or cut the asking price.

properties for sale in Burswood

  • Priced Higher than Neighbors: Your house may also be priced higher than all the apartments in the complex. In case yours is the most expensive three bedroom five year old house in the area, it has high chances of being the last one to be sold out. You can ask your realtor about the prices asked for by the neighboring houses if you have properties for sale in Burswood. Remain updated about prices in the neighborhood.

After picking up the warning signs, you slash the price. However, you still do not get an offer. The only reason here is you have not cut it down enough.

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