Expert: Dick Dennis - 5/30/2006

Question
Hello Dick-  I have a higher end property listed with remax in Southeastern, PA.  Visit www.geocities.com/denton763 to see photos. The agent has been emailing other agents to tell them of the property and just called to day to say he was doing a brokers open on Tuesday. I have been putting out fliers, emailing agents, and am wondering what you would suggest to reach a higher end market audience.  We have one of the few horse properties left in the are, are in the 6th highest ranked school in the state, have it professionally decorated (my profession), & very well maintained.  Where do we reach the buyers we want.  It has been on the market about 45 days, and we have had 1 showing. Any suggestions?  Thanks you, Diane

Answer
Coincidence. I am writing and editing my next edition of The Landed Gentry, my monthly publication. And the lead article on the front page is: "Help! Why won't my house Sell?" The subhead says, "Houses that sell just below market have a better chance."

I just gave you one suggestion. Try 10% below market. And each month (if you really want to sell) thereafter, take it down 5% more. Buyers are reluctant to buy anything these days because they're afraid they will pay too much.

Then consider putting your property in Previews which advertizes high-end properties. If your agent is knowledgeable, he/she should know about it.

In the final analysis, the reason why any property will not sell is because the price is too high! Too high in relation to  the location. Too high in relation to the condition. In relation to the competition, etc. If yours in the highest priced property in the area, that is a very big negative.

Please remember you are in SELLER'S market in every sense of the word. Encourage people to come see the property. Your agent is taking a good step by having an agent open house.

I do wish you well.

Dick Dennis      dixiedee13@aol.com