Before You Reduce the Price of your DFW Home For Sale
It doesn’t matter what you call it; Price reductions, price adjustments, price improvements, no DFW home owner wants to hear about lowering the price of their Home. In slower markets, buyer's markets, it is not unusual for sellers to have unrealistic expectations for the price of their home. 
Before Reducing Your DFW Home Price · Answer These Questions1. Does you MLS listing show a lot of pictures of your home? 2. Is your signage in a prominent visible location, contain a phone numbers and a Web site? 3. What feedback have you received from looking agents and buyers? 4. Are you offering a high enough commission to the selling agents? 5. Have you had many, or any, any showings?· Are You Selling a Slow, Buyers Market 1. Maybe you don't have to sell your DFW home now? When the market is slow inventory is high. Maybe you should take your home off the market for a while. 2. It doesn’t make sense to put an overpriced home on the market that is not going to get any showings, let alone receive an offer. 3. If you don’t have to move, you may want to consider renting out your house or staying put until the market recovers.Starting at the Right Listing PriceIf you price is too high, you'll need to continually reduce the price until you hit the "magic number”, and by then the buyers will be wondering why the home has been on the market so long and you will ultimately end up with less money than if you listed the home at the “right price” from the beginning: Here are some things to consider: · Realize that your professional DFW Realtor is on your side; enlist their help. · Have your Realtor pull up pending home sales and examine their history. How many days on market before the price was reduced and how much of a price reduction was made? · Compare sold prices with active listings. Are sold prices higher or lower? · Pull the history on active listings to determine how many days on market before the prices were reduced. · Run side-by-side comparisons with active listings. Price yours so it falls in the bottom two to five listings or, if you're really determined, price it a little less (3-5%) than all of your competition. Is Your List Price Too Low?· Even in distressed markets, as home prices continue to trend lower, properties that are priced below what buyers are readily willing and without prodding to pay will usually receive multiple offers. · It's common to have price wars among buyers who are competing, which will then result in an accepted offer for more than list price. Every House Will Sell if the Price is Right, No Exceptions!
Before Reducing Your DFW Home Price · Answer These Questions1. Does you MLS listing show a lot of pictures of your home? 2. Is your signage in a prominent visible location, contain a phone numbers and a Web site? 3. What feedback have you received from looking agents and buyers? 4. Are you offering a high enough commission to the selling agents? 5. Have you had many, or any, any showings?· Are You Selling a Slow, Buyers Market 1. Maybe you don't have to sell your DFW home now? When the market is slow inventory is high. Maybe you should take your home off the market for a while. 2. It doesn’t make sense to put an overpriced home on the market that is not going to get any showings, let alone receive an offer. 3. If you don’t have to move, you may want to consider renting out your house or staying put until the market recovers.Starting at the Right Listing PriceIf you price is too high, you'll need to continually reduce the price until you hit the "magic number”, and by then the buyers will be wondering why the home has been on the market so long and you will ultimately end up with less money than if you listed the home at the “right price” from the beginning: Here are some things to consider: · Realize that your professional DFW Realtor is on your side; enlist their help. · Have your Realtor pull up pending home sales and examine their history. How many days on market before the price was reduced and how much of a price reduction was made? · Compare sold prices with active listings. Are sold prices higher or lower? · Pull the history on active listings to determine how many days on market before the prices were reduced. · Run side-by-side comparisons with active listings. Price yours so it falls in the bottom two to five listings or, if you're really determined, price it a little less (3-5%) than all of your competition. Is Your List Price Too Low?· Even in distressed markets, as home prices continue to trend lower, properties that are priced below what buyers are readily willing and without prodding to pay will usually receive multiple offers. · It's common to have price wars among buyers who are competing, which will then result in an accepted offer for more than list price. Every House Will Sell if the Price is Right, No Exceptions! Every single piece of Dallas real estate for sale will sell at it’s true value. It can be a new home, a renovated home or even a Dallas foreclosure home it will sell if it is priced right. No exceptions!
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