Just realized I was overpricing my duplex for 8 months straight

I had this 2-bedroom duplex in Mill Woods listed at $389k and couldn't figure out why nobody was biting. Kept dropping the price by $5k every few weeks but still no offers. My realtor kept saying the market was slow but turns out she was just being nice. Last month a buyer's agent flat out told me my place was competing with newer builds in Summerside for the same price. That's when it hit me - I was pricing based on what I wanted to get, not what the actual comps said. Checked recent sales within 2 blocks and saw similar units going for $355k max. Dropped it to $349k last Tuesday and had 3 showings in 2 days. Anyone else have a moment where your realtor just went along with your bad pricing instead of being straight with you?

2 comments

2 Comments

wood.john24d ago

Oh yeah, totally. My agent let me sit on a $525k house for six months.

charles_chen9324d ago

Ask your agent about getting a kick-out clause written in, that's what pulled me out of a similar spot.