The million-dollar question many homeowners face is when they should reduce the price of their Windsor properties if needed. Obviously, there is not a seller around that wants to have this discussion with their real estate agent. We understand, as it’s not our favourite conversation either. Before you consider reducing the price, ask yourself if everything has been done to sell your home at its current price:
1. Has their been enough publicity, both in print and on-line?
2. Do the ads contain enough information on the Windsor properties?
3. Have their been any open houses?
4. Are there enough good photos and descriptions on the Internet?
5. Are there enough signs in good locations?
6. Have you had good or poor comments from buyers and agents?
7. Have you had many showings?
In today’s buyer’s market, an overpriced home simply doesn’t sell. There is too much inventory and not enough buyers, and all buyers today are looking for properly priced homes. If you are not motivated to sell your home at a fair and good price, then consider taking your home off of the market until the conditions improve. A seller must understand that if they put a home at a much higher price than what it is worth, they will have little traffic, a chance the appraisal will not go through if they are lucky to get an offer and overall, not a good experience.
In the next blog, we will discuss how to pick the right price and how if a home is priced right, it will sell!