"Leaving Room for Negotiation" is something many sellers like to do when listing their home for sale. That "strategy” is a BIG mistake if they are serious in selling their home. The trap of price reduction after price reduction to try to catch up with this changing market results in many negative consequences for the seller. For instance, it limits the number of potential buyers, reduces showings, and allows for potential buyers to "wait it out" ... until the seller reduces the price again.
According to Trulia.com, U.S. home sellers, over the past year, whose homes were listed on various websites and syndicated to Trulia.com, ended up reducing their listing sales price after 79 days on the market, cutting their original list price by 8% and 35% of the time, those sellers made a second price reduction.
Most Buyers will look at 10-15 homes before making a buying decision. The importance of the Seller setting a competitive price relative to competition at the beginning of the listing term, is essential to a successful marketing strategy and reaching the seller's goal...getting your home SOLD.
Working with a Realtor who understands the current market condition and has a systemized marketing program to help price your home correctly and evaluate the price of your home on a regular basis is the key that any serious seller needs to have to lock the revolving door of the downward spiral of constant price reduction.
To better understand a customized marketing plan for sellers click the link below.
http://www.erataylorrealtygroup.com/Selling_Your_Home/page_2082534.html