My Real estate agent appreciates the craftsmanship that I have put into my house. She then gave me a great price to list my house. After 90 days we have no sale.
But Damn ...
Now she says I have to reduce my price.
You my friend are the victim of a real estate agent who just wanted to get her foot in the door.
You probably interviewed at least three agents like you were suppose to, right? And ultimately you went with the agent who gave you the largest listing price. She probably spent a couple of hours pumping you up, telling you how much she admired the work you had put into your home. This ultimately led her to "guaranteeing" your house would sell for a really good price. You liked hearing that and the fact she was cute was a bonus right?
When in fact, that price was way over inflated and she did so, so you would choose her as your real estate agent. She was working you; just trying to get your listing and guess what? It worked.
Now after 90 days your house hasn't sold and before their contract with you runs out they want to drop the price of your home to make it "more competitive". But you the home owner are now depressed because you counted on making a certain amount of money off the sale of your home. In some cases you have already physically spent that money. In all cases mentally spent it.
So, what to do? Grin, bear it, and make your real estate agent work her a** off for this trickery. And, if after what you feel is a "competitive" reducing of your house it still doesn't sell, you need to get a new agent. Or sell it yourself with a discount agent. (But that's another article)
Your selection of a real estate agent , should not only be a personality mesh. Each of your potential agents should explain to you a "marketing plan" of selling your house, utilizing research and state of the art video and on-line technology. And a good agent will tell you things you want to hear but also things you don't want to hear.
You want honesty and to know the agent is being both optimistic but also real. I'm not saying let him suggest a price you feel is far too low and is giving the house away. Just realistic, given the current market and stringent loan process.