Most homeowners are willing to reduce their asking price after months of not getting any offers.
ShelterZoom, a blockchain-powered real estate platform, surveyed one thousand consumers and found that 33.2% would choose to lower the price of their home after three months of waiting.
Meanwhile, 19.7% said they would be willing to wait one month before dropping their asking price, 17% would postpone for five months, and only 9.4% would hold back for a whole year before they would change the price.
On the other hand, 12.3% would not budge and said they wouldn’t push down their selling price at all.
The survey also asked sellers what would make the home-buying process easier. It revealed that transparency was most significant to the respondents.
The ability to ensure that buyers saw their offer was crucial for 48% of the respondents, as well as the power to track every step of the offer.
Approximately 46% said they’d like to see how many offers have been made on their homes, and 42% wanted to get notifications every time a seller, broker or agent has made any changes. Lastly, 33.5% said negotiating and closing online would simplify the process.