If the property is listed with a high price but remains unsold, what strategy might be employed to stimulate interest?

Reducing the listing price can be an effective strategy to stimulate interest in a property that has been on the market for an extended period without attracting buyers. High pricing can deter potential buyers if they perceive that the property does not offer value at its listed price.

By adjusting the price to a more competitive level, the seller potentially widens the pool of interested buyers who may have previously considered the property too expensive. Price reductions can generate renewed interest and may lead to more showings and offers, creating a sense of urgency among potential buyers who recognize that the property is now a better deal.

While canceling the listing, waiting for market conditions to improve, or increasing marketing efforts can also be considered as strategies, they do not directly address the fundamental issue of price perception. Adjusting the price aligns with typical market behaviors and expectations, making it a more immediate response to re-engage buyers.