Plenty of showings, but no offers on your home?

Posted by Liliana Sorescu on Friday, February 21st, 2014 at 7:24pm.

If you're seeing plenty of potential buyers coming through your home for sale, but none are presenting offers, there could be a very good, yet disappointing, reason: Your price is too high in comparison with similar homes.
 
Your home is being used to encourage the sale of other homes in Vancouver.
 
Here's what happens: Agents first bring buyers to your home, then they take them to a similar home that is significantly lower priced. Compared to yours, the second home is a bargain, so they make an offer.
 
They could also be using your home as a comparison to homes of the same price that are priced correctly. Then the second home says "Look how much more you can get for the money when you choose me!"
 
If this is happening to you, do some research. Ask your agent for a new market analysis and for a tour of other homes for sale.  See for yourself how your home stacks up against other homes currently for sale in your neighborhood.
 
You might even learn that instead of reducing your price, you need to do some cleaning and de-cluttering, repair a few items, repaint inside or out, shampoo or replace carpets, or have the house professionally staged. All of those factors affect the price a buyer is willing to pay.
 
When you list with me, I'll provide you with an up-to-date market analysis before we settle on a listing price. You'll know the selling prices of homes that have recently sold and the listing prices of those that will be your direct competition.
 
I'll also be more than happy to take you on a tour of those competing homes.  
 
Correctly priced homes sell faster and for more money than over priced homes, so getting it right the first time does matter.
 

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