Reason |
Remedy |
| |
|
| Overpriced |
New market analysis, lower price |
| Price reductions too little, too late |
New market analysis, significantly lower price below the next price break or two |
| New competition since property listed |
New market analysis, lower price, offer incentives |
| Builder competition |
New market analysis, offer upgrades competitive with builder |
| Difficult to show, not readily accessible |
Use lockbox and readjust showing hours if necessary |
| Glutted or slow market |
Adjust pricing and offer incentives |
| Property has become shopworn |
Add new photos, offer incentive, inform area REALTORS® |
| Many showings but no offers |
Reduce price |
| Offers forthcoming but not consummated |
Re-examine counters and adjust to offers |
| Condition (maintenance problems) |
Freshen up and review ways to improve |
| Condition (major problems) |
Rehab as necessary—new carpet, paint |
| Cosmetic allowances have not enticed offer not enticed offer |
Rehab as necessary—remove allowance |
| Location not desirable |
Compensate with price adjustment |
| Property showcased poorly |
Hire staging professional or ask REALTOR® for suggestions |
| Property not being shown |
Make property more accessible with lock box |
| Pets (odor, soil, and intimidation) |
Deodorize carpet, cage pets when not home |
| Neighbors or neighborhood |
Counsel with neighbors regarding interference and condition of their properties |
| External influence (new highway, etc.) |
Adjust price, gather accurate data, and prepare fact sheets |
