The Right Way to Reduce the Price of Your Home

If your home has had few to no showings or offers, it’s likely overpriced to homebuyers. They’re willing to pay fair market value, but little more. You’ll be successful with a price reduction if you act on the following:

Accept the current market. Ask your Berkshire Hathaway HomeServices network professional for an updated comparative market analysis with detailed sales trends over the last three months. Are home sales slowing or accelerating? Are home prices rising or falling? Price your home slightly under the trends.

Upcycle your home. Repainting and deep cleaning aren’t enough to make your home stand out. What’s missing that buyers want? Curb appeal? New appliances? Homebuyers want a move-in-ready home and will make a solid offer to get one.

Review your marketing. Pay for professional staging and photography to showcase your home to better advantage online. Highlight the charms and special features of your home as well as the neighborhood.

A price reduction should send the right message to the marketplace—that your home is well worth its asking price.