Here are a few reasons and remediesa��
1. House is overpriceda��you need a new market analysis to see how much to lower the price
2. Price reductions too little, too late…you need a new market analysis & significantly lower the price below the next price break or two
3. New competition since property listeda��you need a new market analysis and lower the price and offer incentives
4. Builder competitiona��new market analysis, offer upgrades competitive with the builder
5. Difficult to show, not readily accessiblea��use lockbox and readjust showing hours if necessary
6. Glutted or slow marketa��adjust pricing and offer incentives
7. Property has become shopworna��add new photos, offer incentive, inform area Realtors
8. Many showings, but no offersa��reduce price
9. Offers forthcoming but not consummateda��re-examine counter offers and adjust to offers
10. Condition (maintenance problems)a��freshen up and review ways to improve
11. Condition (major problems)a��rehab as necessary with new carpet, paint, etc.
12. Cosmetic allowances have not enticed offera��rehab as necessary and remove allowance
13. Location not desirablea��compensate with price adjustment
14. Property showcased poorly…hire staging professional or ask Realtor for suggestions
15. Property not being showna��make property more accessible with lockbox
16. Pets (odors, soil, intimidation)a��deodorize carpet, cage pets when not home, kennel pets or put with a friend or relative until home sells
17. Neighbors or neighborhood undesirablea��counsel with neighbors regarding interference and condition of their properties
18. External influence (new highways, etc.)a��adjust price, gather accurate data, and prepare fact sheets for people interested in the home
This information is also available on TexasRealEstate.com website where it was first published for Realtor use.
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