Houses for sale are priced according to factors like its size, age, location, or market conditions like supply and demand. Sellers eager to cash in big risk selling for a cost too high, resulting in a home that sits unsold on the market. Here are signs that this may be on your horizon:
1. No one is taking interest.
If no one is coming around for a look, r if you haven't received offers or any inquiries even, it may be time to reevaluate your sales price, among other things. First off, refer to your realtor's "comps," or the comparative analyses of similar properties in your location and how much they've sold for. This ought to give you a clue as to the price range of your own home.
2. Buyers are complaining.
You've had buyers come over to look at the home, but these buyers keep asking for a sizeable discount from your sales price. They may also complain or point out various shortcomings with the house or its location. If the buyers themselves are insisting that your home is too expensive for what and where it is, consult your realtor and reevluate a more appropriate price.
3. Several other realtors you spoke with recommended lower prices.
Perhaps you went with the agent who gave you the highest price you can sell your home for. Be wary of such realtors -- a good realtor tells it like it is. You may want to re-consult with the previous realtors you spoke with and ask them for their comps.