{"id":12418,"date":"2017-10-31T13:05:01","date_gmt":"2017-10-31T13:05:01","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=12418"},"modified":"2017-10-31T13:05:02","modified_gmt":"2017-10-31T13:05:02","slug":"drop-listing-price","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/drop-listing-price\/","title":{"rendered":"When to Drop Your Listing Price"},"content":{"rendered":"

When to Drop Your Listing Price<\/h1>\n
\"When<\/a>

When to Drop Your Listing Price<\/p><\/div>\n

Though low inventory is prompting buyers to raise their offers in order to beat out competitors, you still want your sellers to know: an overpriced listing will linger on the market. Buyers pay attention to time on market and may erroneously assume something is wrong with a property that has gone \u201cstale.\u201d Real estate pros say it\u2019s critical to determine what time frame is considered stale in your market and drop the price of your listing before getting to that pivotal moment.<\/p>\n

\u201cI typically drop the price after the second week on the market, usually in $5,000 to $10,000 increments,\u201d says Laura Barnett, CRS, GRI, a sales associate with RE\/MAX DFW Associates in Coppell, Texas. \u201cBut I may be more aggressive than most.\u201d Price cuts in the hot Dallas-area market, where Barnett works, haven\u2019t been common lately, she says. But \u201cthere is a strange change that is in the air, and sellers are starting to have to become more humble. I would not say it is a buyer\u2019s market, but a new balance between buyers and sellers has been hitting us since August.\u201d<\/p>\n

Soaring home prices may make buyers pause, but houses are still selling fast. Nationwide, the average time a home spent on the market was 34 days in September, down from 39 days a year prior, according to the National Association of REALTORS\u00ae. Some sellers may be adamant about \u201ctesting the market\u201d with a high asking price, so you should have a game plan for what to do if it backfires. \u201cI don\u2019t believe in testing the market, but if we enter the market [with a list price] pushing the top of the range, we can easily gauge response within seven to 10 days,\u201d says Dana Rice, a sales associate with Compass in Washington, D.C. \u201cIt\u2019s almost a certainty that if we don\u2019t get an offer within that first 10-day period, then we\u2019ve missed the mark.\u201d<\/p>\n

Rice says she\u2019s seen sellers do a rapid price adjustment that can then result in a quicker sale. You can \u201cbring those same buyers back\u2014the ones who liked the property in the first place and who will view the price adjustment as \u2018the seller is listening to me,\u2019\u201d she says.<\/p>\n

Source: \u201cHow to Know When to Drop the Asking Price on Your Home,\u201d CNBC (Oct. 27, 2017)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

When to Drop Your Listing Price Though low inventory is prompting buyers to raise their offers in order to beat out competitors, you still want your sellers to know: an overpriced listing will linger on the market. Buyers pay attention to time on market and may erroneously assume something is wrong with a property that … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-12418","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nWhen to Drop Your Listing Price - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/drop-listing-price\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/drop-listing-price\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/drop-listing-price\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"When to Drop Your Listing Price\",\"datePublished\":\"2017-10-31T13:05:01+00:00\",\"dateModified\":\"2017-10-31T13:05:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/drop-listing-price\\\/\"},\"wordCount\":414,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/drop-listing-price\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2017\\\/10\\\/10312017.png\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/drop-listing-price\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/drop-listing-price\\\/\",\"name\":\"When to Drop Your Listing Price - 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