Help! My broker says I should lower my price, should I listen?
by Jacques Ambron
Oct 03, 2018 | 523 views | 0 0 comments | 32 32 recommendations | email to a friend | print
Jacques Ambron is executive director of sales for Halstead  Forest Hills LLC.
Jacques Ambron is executive director of sales for Halstead Forest Hills LLC.
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Q: My real estate agent is requesting that I lower my asking price after three weeks. Is this a good idea? I thought keeping it higher would allow for more negotiating room.

A. You have to consider a few things in making this decision. First, what is the state of the market? If it’s a good market and your agent is doing his or her job, you should have a reasonable flow of buyers looking at your home. If the agent isn’t giving you feedback, ask for it.

If you are not seeing a steady flow, or if the feedback is that your price is too high, then it is time to discuss a reduction. The longer your home stays on the market, odds are the less you will get for it.

The reason is that when a property remains on the market for a long period, buyers wonder if there is a problem with the property. Most buyers now have access to online information as to days on the market. This would be a good time to review comparables with your agent to determine a better asking price.

Q. I’m planning on putting my home on the market. What can I do to make it more attractive to buyers?

A. There are a lot of simple things that will make your home more appealing. Make sure to use high-wattage light bulbs, and keep shades and curtains open when showing during the day. Paint any discolored areas or rooms with dingy, old paint.

Try not to cook foods with strong odors prior to showing; if necessary, use room fresheners and de-odorizers. If you own a house, keep the lawn and plants trimmed and maintained, and pick up any garbage on the property.

Reduce clutter as much as possible. Consider putting some items in storage. Call or e-mail for a more extensive report on preparing your home for sale.

Please send your real estate-related questions to jambron@halstead.com.
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