Trouble selling my renovated flip house

[Russell Gronsky]

So just like the title of this post says, I finished the renovation of a house. I put it on the market, admittedly, for more than it is worth, and I had a few tire kickers but no offers. 4 months later, I am now at 5k below what it is actually worth and offering to cover most closing costs but I am still getting no offers. The one problem I did not think would have such an impact is that the house is across the street from train tracks. It's a quiet commuter train that runs on these tracks during work hours only and doesn't use its horn. I put all this in the property description a few weeks ago hoping that it would help but still no offers.

I could keep dropping the price. I have a little bit more to go and not go negative, but is this my only play? I talked to a few agents in the neighborhood that move lots of inventory, but still nothing. Should I offer an extra $500 to the agent who brings me a buyer that closes? Extra $1,000? Should I try to work with a wholesaler or will this just tie up my property for a month or more with no results? 

I am also considering taking the property off the MLS for a month and then re-posting it.

Are there other things I could do to sell this property?

[Jonathan R McLaughlin]

@Russell Gronsky sorry to be beating up on you I swear I’m trying to help, but if you aren’t using a broker AND are trying to list on the high side of the price range that’s a classic recipe for failure.

Stop the bleeding, get someone whose job it is to sell houses to list it and listen to them.

My mom was a pretty successful broker and when a prospective client would tell her “it’s worth this” she would say “it’s worth that to you...congratulations, you own it”