Newsflash: One large price drop vs a few smaller ones

We listed our house (10 days on market). We have had 5 showings (one couple came twice) so far.We move to our new house in a couple days and the house will be vacant. We know it’s harder to sell a vacant home than one with nice furnishings.We’ve decided that if none of the showings have interest we will drop the price.My question are:Is it better to drop the price substantially at first (approximately $11k or 4.5%), or do various smaller price drops over the coming weeks? Why?How quickly do we drop the price? We were thinking about dropping at day 16 on the market.FWIW: our house is the largest floor plan in the neighborhood, and the second most expensive. There are 2 other homes for sale on our street: one is much smaller than ours (1600 sq ft smaller) , the other is somewhat smaller (800 sq ft). So while not direct competition, it’s still something to consider.

Read more at https://www.reddit.com/r/RealEstate/comments/6hzpwx/one_large_price_drop_vs_a_few_smaller_ones/?utm_source=ifttt

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