[2BNTV]

I put my condo on the market on April 1, 2011 for the price that was recommended by the Real Estate Agent. Zillow has the value at 12,000 more than what I put it on the market for.

I had not received one phone call for a showing and the open house on April 17, 2011, yielded seven visitors. One visitor feedback was “I am waiting to see what the market does”. And another visitor comment was they wanted the price to be lower.

My realtor called me up on April 20 and suggested I lower the price. He also mentioned with a lower price, I might get more than one offer and get more than the reduced price. My feeling is that when the market was good, this is a possibility but I seriously doubt that particular scenario is going to happen. I have seen from the literature that there is a 3 to 4 week of peak interest and it starts going down from there.

Since we are not talking about a substantial reduction, some questions come up:
1. Does it really make a difference to the REA as his or her fee is not going to be much different?
2. Is it common practice to ask for a reduction in price so soon?
3. Does the REA have my best interest at heart?
4. Is the REA looking to make a quick sale?
5. If I lower my price and the market improves, I can never ask more as the buying public has been tracking prices?

I know the selling price will be determined by what the buyer is willing to pay. I would like to be in TV before the next winter hits and start my new life. Some people have suggested in previous posts to bite the bullet and get on with it. This just struck me as a short period of time to be asking for a reduction in price. Since it is my money, I was wondering if I am being too jaded.

Any thoughts and suggestion would be greatly appreciated,