Sellers: If I don't get an offer, should I wait or lower the price?

Sellers: If I don't get an offer, should I wait or lower the price?

published on September 14, 2016 by Jason Perry

In today's Seller's market if you haven't received an offer in the first 2 or 3 weeks, something is wrong.  Either the home is overpriced or there is something about the home that is giving potential Buyers hesitation on making an offer.  Your Realtor should be reaching out to buyers' agents and asking for feedback on their showings.  This could give you valuable information on corrective action to take. 

We had a listing a few months ago that received very positive feedback, including feedback that the home was priced right, however no offers came in.  One recurring theme in the feedback though was that the kitchen did not have enough cabinets and counter space.  The Seller installed additional cabinets and the home sold to the first person in after the work was complete.

Generally speaking, waiting is not the right thing to do.  Either take another look at your price and adjust accordingly or look at the showing feedback and see if there is something you can do to make your home more appealing.

All information found in this blog post is deemed reliable but not guaranteed. Real estate listing data is provided by the listing agent of the property and is not controlled by the owner or developer of this website. Any information found here should be cross referenced with the local county and state organizations.