How to revise your strategy on a home that’s not selling

Inman readers told us what they do when faced with a stall in a listing's movement
  • The stress of reducing a home's price can be somewhat relieved by educating potential sellers beforehand.
  • Although the majority survey respondents said reducing the price is the first tactic they apply to a stalled sale, they also recommended exhausting all your options.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Your hands are sweaty, your throat is dry and your heart is pounding as you approach your listing clients to talk about something they're not going to like: reducing the price. Take solace in the fact that you're not alone. A whopping 58 percent of respondents to Inman's recent poll indicated that a price adjustment is the first tactic they use when a home just isn't moving. The other options listed were: Market the property more aggressively Host an open house Redecorate and/or stage the home Offer a buyer's agent bonus Offer a bonus or other financial incentive, like covering closing costs, to the buyer Split a bonus or other incentive between the buyer and the buyer's agent So, what is the best way to have the difficult -- yet sometimes necessary -- price-reduction conversation? When you first take the listing: Educate your sellers A few respondents noted that the strife of reducing a home's price can be relieved by educating potential sellersĀ abo...