Nothing is more frustrating to a home seller than to have their home sit on the market without an offer. Selling a home is a big decision, and an emotional one. By the time a home owner determines the time is right to sell, they are ready to move. In addition, keeping a home show-ready is exhausting, so a listing that just sits is frustrating.
The truth is there is only one reason why a listing doesn’t sell and eventually expires…price. It’s always price. There is a price at which any, and all, homes will garner offers. Even the most run-down foreclosure will receive offers when priced low enough. Home sellers naturally want to get the best possible sales price for their home, but it’s important to be realistic. Present the home in the best possible light and offer it at a reasonable list price.
There is nothing to be gained by holding out hope for a higher offer and sellers lose valuable time by trying to do this. A listing will always get the most attention when it’s new on the market. This is the time to get create excitement and get offers. When the house is over-priced it will also be over-looked and eventually, the listing expires.