Talk to Your Sales Rep, Part 2
Price usually is the problem. Usually the reason a home isn’t selling is because the list price is too high for the market. If a price adjustment is recommended, reduce the price as soon as possible.
Your sales rep may have taken the listing at the price you wanted, however, the longer the property remains on the market at the inflated price, the lower you’re going to get in the end.
When we price out a property we give three pricing strategies; Best Case, Probable and Worst Case Scenario. In a low inventory market, many sellers wish to price their homes above the market. I will test the waters for sellers, but, only for a short period of time.
Remember that the sales representative is outlaying money even before the sign goes up. If all their listings are priced out of the market, not only are they going to get stale, the sales rep will have to have very deep pockets to keep up the marketing costs on homes that are too highly priced for what the market will bear.