Call your agent
Have an honest conversation about your concerns. Ask your agent why they think your home’s not selling and what can be done to get things moving in the right direction.
To get the best possible price for your home, try all the above before you look at a reduction. Have viewers said it’s too expensive, or are other similar homes also having to drop their prices because there’s an oversupply at the moment? If you do decide to go for a reduction, make it worthwhile. As a general rule, if a home was going to sell within 5% of its current price, someone would have made an offer already, so bring it down to a level that’s genuinely going to get more buyers interested.
Take a break from the market
If you don’t desperately need to sell, taking your home off the market for a little while can be quite effective, particularly if you come back with a new price, new photos and perhaps a new agent. Certain times of the year are quieter than others, and a good agent will know about seasonal and current trends and be able to recommend the best time to come back onto the market.
Taking a break doesn’t have to mean your home’s not for sale, just that it’s not actively advertised. Your agent can keep the details ‘under the table’ and still give them to people they think might be interested, so you don’t miss out on your perfect buyer.