The key facts

  • The expert advises finding out the reasons for the lack of demand — the price, the presentation, or the deal terms — before making a new price cut
  • Frequent markdowns can intensify haggling: buyers wait for the next concession
  • When several intermediaries are involved, it is recommended to agree on a single price and description of the property

Cutting the price is not the first step

If an apartment has been on the market for a long time, the owner should first find out why there is no demand and only then decide whether to lower the price. This was told to Gazeta.Ru by Pavel Shalyapin, head of the secondary real estate sales department at Prime. According to him, a low number of calls and viewings may point to a problem with the price or the presentation, while if viewings are taking place but negotiations never begin, it is necessary to understand what exactly puts buyers off. “As soon as you decide to sell an apartment, it becomes a commodity. It has a market price, which depends on its specific characteristics,” the broker noted.

Mistakes in valuation and negotiation

Shalyapin warned against valuing an apartment solely based on listings of similar properties: the asking amounts do not always match the prices of actual transactions. In addition, a buyer compares secondary housing with new developments, where discounts or special payment terms may be available. Frequent price cuts, in the expert's opinion, can intensify haggling: interested people see the changes and wait for the next concession.

Organizing the sale

Another problem is the seller's lack of a clear plan: if he has not decided where to move and on what terms he is ready to part with the apartment, the deal drags on even when there is a buyer. When working through several intermediaries, the broker recommended agreeing on a single price and description of the property — different listings for the same apartment can raise doubts or give the buyer additional grounds for haggling. He also advised seeking feedback after each viewing: a refusal may be related to the layout, the condition of the home, the documents, or the timing of the deal. If circumstances have changed, it is worth getting back in touch with those who have already shown interest in the apartment — a new price or payment arrangement may make the offer suitable for them.