When a listing just sit there with no reduction and no sale

Legacy_user

What's going on inside the seller's head when a listing sits on the market for nearly 6 months, unreduced and unsold? I don't want to view, since the stagnant listing history reveals that the seller is most probably a rigid and unreasonable person.

davidmcn

Or that's the lowest price they can sell for.

System

davidmcn wrote: »

Or that's the lowest price they can sell for.

Paradoxically, they would be better taking it off the market then, if they want to sell - since the listing is getting more and more stale, and people are obviously judging it the same way I am.

Slithery

Perhaps they are in no hurry to sell and would rather wait for the asking price, maybe it's a probate sale where the executors can't agree, it could be a very specialized property with a small pool of potential buyers. There are lots of different reasons. You can't say that the seller is being unreasonable without knowing the full situation (which you never will)

System

Slithery wrote: »

Perhaps they are in no hurry to sell and would rather wait for the asking price, maybe it's a probate sale where the executors can't agree, it could be a very specialized property with a small pool of potential buyers. There are lots of different reasons. You can't say that the seller is being unreasonable without knowing the full situation (which you never will)

True, but listings that just sit there, get less and less appealing as they languish unwanted, making them less likely to sell. Waiting years for an asking price may just make the chances of getting it more and more remote.

lookstraightahead

Mostly because people are being unrealistic about how much they think their property is worth. Sometimes this is the agent over valuing so that they can win business, which gives unrealistic expectations.

If you can't afford to sell at a realistic price, then you just can't afford to sell, so stop wasting everyone's time.

babyblade41

my neighbours house has been up for 2.5 years ... over priced but they seem happy to keep it there.

At some point someone will want just that house and buy it

verybigchris

I viewed a house like that. Turned out the owners had divorced and the settlement allowed the wife to live there until their daughter started uni, at which point she had to sell. So of course she made no effort to present the house in an attractive way and kept putting off buyers, just so she could stay there as long as possible.

MobileSaver

Diocletian_II wrote: »

What's going on inside the seller's head when a listing sits on the market for nearly 6 months, ... I don't want to view, ... the seller is most probably a rigid and unreasonable person.

Conversely what's going on inside a buyer's head that they are interested in a property but won't view it because "the seller might be unreasonable?"

To be frank, out of the potential buyer and the seller, I think it's the buyer who is acting weirder in this particular scenario...

Davesnave

babyblade41 wrote: »

my neighbours house has been up for 2.5 years ... over priced but they seem happy to keep it there.

At some point someone will want just that house and buy it

I have a neighbour and a friend who have both been on the market for about that amount of time, plus another friend who's 'only' been selling for 10 months.

Two of them have properties with specialist appeal and the third has nothing remarkable about it, but all are over-priced. The theme in this village seems to be gradual reductions spread over years, which matches the pace of life, I suppose!

lookstraightahead

verybigchris wrote: »

I viewed a house like that. Turned out the owners had divorced and the settlement allowed the wife to live there until their daughter started uni, at which point she had to sell. So of course she made no effort to present the house in an attractive way and kept putting off buyers, just so she could stay there as long as possible.

Ah yes I remember that happening to me when I was interested in a property!though I don't blame her to be honest I would probably do the same.