If your property has not received offers after around six weeks and other houses similar to yours are selling in your area the signal is clear that your asking price is too high.
In a highly competitive market people do research into the costs and compare with care. If your real estate agent has suggested your price is too high, perhaps the time has come to listen. If comparable homes in a comparable area are selling for less than yours it is time to reconsider your asking price.
Ask yourself if you have overlooked good offers by having your eye to much focused on your asking price. Vendors often receive what are excellent offers at an early stage as the level of enquiry is high, but they hold off hoping for better offers that never come. If you have done this it is time to change.
Review the attributes of your home carefully. List the strong points and see if the properties that have recently sold offer similar attractions. Remember, your emotional attraction in a home where many memories rest is not the same as for an outsider who examines your property from a stand-aside position. They simply want a good home at a fair price. They review the situation with an eye toward the future not the past.
This is why recommendations also suggest that vendors remove as much clutter from a home before it is opened for viewing. Prospective buyers need to be able to see the space available with their furniture in place, not yours. Less clutter makes rooms look larger, often brighter, and certainly more spacious. And whilst a unique renovation to some specific area of the home may be an artistic creation built with love and care by your own hands, your taste may not suit new owners. Keep this in mind.
Stand back and think like a buyer instead of the owner. This is what your agent has been doing all along. Make a dispassionate consideration of what the amount of money you are asking will buy in the area. Your agent will be happy to table comparisons and assist you in reestablishing your property into a market now possibly tainted by buyer reluctance to seriously consider your house as their home.
Your agent will have additional work to do to overcome the resistance set by the property’s previously overstated price. But a good agent will work with you to establish a plan that will position your home anew, adding freshness to what had been a good home for sale but due to overpricing had become stale through lack of interest.