Where readers ask (in this case Realtors) and we (the community) try to answer:
We have a great listing in Dog Patch that is just not selling. Though we have gotten a lot of interest and people seem to think the price is right, we have yet to receive an offer.
Have any of your readers seen this listing at 1011 23rd Street, #5, and if so, what are their thoughts? We know sometimes it is hard for people at an open house to tell the listing agent the truth about the property. But we think it is a wonderful loft style unit with a private patio, but it doesn’t matter what WE think… What do other people think?
Hit us with the truth. We can take it!
Please answer in the comments if you have seen this property, or might have an opinion as to why it is not selling.
–1011 23rd Street, #5 [MLS]
[obvious & useless comment alert] It’s probably overpriced. [/obvious & useless comment alert]
Condos are starting to price correct… I think a number of people are pretty wary about buying now. On top of that, lofts are so dot-com boom.
If it’s not selling there’s only one thing to do: drop the price!
Exactly! Isn’t that just logic? If it doesn’t sell, lower the price! Duh! Some agents have no brains.
financing will be tough so offer to carry a second.
differentiate your product.
throw in a smart car.
“Exactly! Isn’t that just logic? If it doesn’t sell, lower the price! Duh! Some agents have no brains.”
Do you really think the agent is sitting there saying, “Whatever you do, don’t lower the price?” Jeez.
@fluj,
Well they obviously are stretching their means by asking this site to post their question. It seems pretty clear if nobody is biting at a certain price and interest has been high, lower the price. Don’t you think?
Well the property has been withdrawn. But last year another agent had the listing and they were asking 679K. So it has already been reduced once.
As to it being a no-brainer, typically it is the seller who wants to sell at a certain price. The seller drives the pricing. If it was up to most agents they’d lower the price in a heartbeat. Sometimes it just isn’t feasible, tho. People sometimes need to get a certain price. Right? Just saying, “Some agents are so dumb” was more than a little unfair. You don’t know the backstory.
You know what fluj? I’m actually going to concede victory on this argument to you. You’re right. We don’t know the true story, but from the post it sounded like the agents were looking for advice, which seemed like maybe it was their decision and not the sellers. But you are right, and maybe they’ll use this thread to convince their seller to lower the price. Maybe?
isn’t that competing with brand new and beautiful units in esprit park? good luck selling at that price until they are all gone first.