The longer your house is sits on the market, the less likely you are to get a deal that benefits you. Avoid waiting too long to make a decision:
- Listen to feedback
Ask your agent to poll colleagues who have shown your home. If location is the problem, you may not have any choice but to reduce your price. But if your home's appearance is the issue, deal with what seems to be holding buyers back, such as cleaning up the basement or painting the interior. - Reduce your price
This is the most obvious decision. If the market has slowed since you listed the home six weeks ago, the comparable recent home sales you used to set your price may be obsolete. Consider reducing your price by as much as 10 percent; that's a strong signal to other agents that you are motivated to sell. If you still have no takers after another four to six weeks, you may have to cut your price again. - Change agents
If your listing contract is about to expire, evaluate your agent's performance in light of market conditions. An agent who knows you, your property, and the neighborhood well is probably worth keeping, especially if he or she has good suggestions to improve your situation. But an agent who is ineffective, or who clearly inflated your the list price in order to get your business, probably is not someone with whom you want to do business. - Take your house off the market
If you aren't in a rush to sell, drop out of the market before your home is stigmatized by a no-sale.
