Do I Need to Lower Price or More Aggressive Selling?
Our home has been on the market approx 3 months, we had 3 showings in the 1st month, positive feedback, no offers! There are no comps for our neighborhood so the Realtor suggested the price, based on cost to build. (This is a custom home neighborhood, a couple lots still available $110K and up)
Last week I contacted our Realtor and asked what was happening with our listing, he apologized for the neglect, but his mother had died and he had been preoccupied.
He has scheduled a meeting with us for tomorrow "to see what suggestions we can come up with"! DH thinks Realtor is going to suggest lowering the price. We will be eating the cost of 5% commission at the already asking price!
We are wondering how much of a price reduction should we concede to? Should we ask for more aggressive advertising? More online photos, advertise in local paper? (His broker advertises on Trulia, plus a local Realtor magazine and the Realtors 'For Sale' sign with flyers)
Appreciate suggestions, thanks!