“You’ll pay the price if you end up stubbornly attached to one.
The three most important factors in selling a property are location, presentation, and price.
Price points are psychological triggers. One to five thousands dollars in the right direction can spark interest and make a buyer feel a purchase is possible.
In a stagnant or depressed market, price is incredibly sensitive, and can stop an interested buyer from clicking on your listing or lodging that enquiry.
If you’ve had your property listed for some time, the market will have shifted around it. Your price might have started in the ballpark, but now it’s not tenable. Reassess based on comparable properties in todays market terms and re-advertise at a price buyers can confidently respond to.
Put yourself in the shoes of your buyers and be honest about a reasonable cost. Work with your agent and lower that price as much as you need to.
There’s no point clinging to a price dream if your property sits on the market for another year. If you want, or need to sell, then price to sell in the current market (not the market you originally bought in).”