The perception of long days on the market is universally negative to the seller. Rightly or wrongly, the second most frequently asked question regarding a listing is, second to "what is the price?", "How ,long has it been on the market?". Right then, the seller's agent is on the defensive trying to overcome objections or conerns that may not in any way be legitimate. The explanation may result from simple overpricing at the outset, to a seasonal market, changing economic considerations, over supply, etc. Sellers often say: "let';s try this price--we can always come down?" However, the simple fact is that a property will never gather as much interest, notoritiety and showings as when it is first exposed to the market. Why miss out on that "!5 minutes" of fame.
Yes, you can always come down, and down and down. A prudent seller should rely of the exxperience and due dilligence pressented by their listing agent.
Feb 19, 2015