House On Market 2 1/2 months no showings!! (sales, real estate market, rental) - Page 2 - City-Data Forum

bluewatergirl888 · 06-11-2007, 05:34 PM

Almost every home will sell, at the right price. In this market sellers have to be competitively priced. That means setting the price, at or below what the comps have sold for (not what people are asking). This has to be done from the start. People who try to price their house higher to start with, and think they can lower the price later, usually end up loosing money. It's a hard thing for sellers to grasp, but it's the truth. The first two weeks a house is on the market is when it gets the most exposure, you have to get people in and making offers. Once it starts to sit on the market, it gets stale and people loose interest, or think there is something wrong with the house. FSBO can work if you know what you're doing, but listing your house with a Realtor in the MLS will get you the most exposure. I would suggest pulling it off the market and re-listing it fresh. Good luck.

anncat · 06-11-2007, 07:04 PM

Just what exactly does relisting if fresh mean?

My realtor just mentioned doing that and I don't quite get it.

puffle · 06-11-2007, 07:18 PM

How does your place look esthetically? Are there any inexpensive improvements you can make both inside and out? Is is too cluttered or lack luster? Other than price, first impressions are everything, so maybe just a little change around the house could help? Just a suggestion.

NY'er lost in MA · 06-11-2007, 07:22 PM

Quote:

Originally Posted by anncat

Just what exactly does relisting if fresh mean?

My realtor just mentioned doing that and I don't quite get it.

That was an old trick of the trade years ago when the MLS had imperfections (still does). Taking a listing down for a few days and then just reposting it would make it seem like a brand new property. The 'days on market' ticker would also reset. GUESS what- the ticker does NOT reset anymore- they changed that. Any agent that tells you to do that as a strategy is an amateur. Anyone with internet access can see right through this when it now reappears as 'back on market'. Doing this too much will actually cause buyers to baulk.

Also- if you are working with a buyer's agent, they can pull the total market history of any property meaning: how many price drops you have done and how many times you decide to 'relist' it. Any smart buyers agent will probably recommend you don't get involved with sellers using such tactics.

LeavingMA · 06-11-2007, 07:28 PM

I hate to criticize real estate agents, but the answers that people gave here are good and solid answers and you should find an agent that can do the same. If your agent isn't giving you similar advice, then you probably should change.

It is difficult because lots of agents want to tell people they can get "X" for their house even when they probably can't. They only do this because that is how they get most listings. The best agents are the ones that price correctly, understand the market, and adjust. I think you need to find a real estate agent that will tell you what looks good to buyers when you show your home. Basically an agent that will tell you what you need to hear and not want to hear.

NY'er lost in MA · 06-11-2007, 07:34 PM

Quote:

Originally Posted by LeavingMA

It is difficult because lots of agents want to tell people they can get "X" for their house even when they probably can't. They only do this because that is how they get most listings.

..called 'buying the listing'- exactly! They tell you what you want to hear, but that is about it...

We had 2 open houses in March. One by our ex-agent, and the following weekend on our own. The agent 'claimed' to have advertised in the Globe and online in addition to telling all the nearby agencies. He got 2 couples to show.

We advertised on Craigslist and got 8 couples to show.

Buyers are savvy and don't want to deal with agents anymore. If you want the best advice I can give- try: Redfin - Real Estate in Los Angeles, Orange County, San Diego, San Francisco, Boston and Seattle

You can save alot of money and have access to addresses and other crucial information (that agents want you to believe only they have access to). The agent that services Boston is Alex Coon. He is the most experienced and easy going agent I have met out of the hoards of brokers and realtors that were sleezballs to my wife and I for 6 months. And besides- traditional agents cannot match Redfin's services or REFUND program.

BacktoNE · 06-11-2007, 07:42 PM

I can tell you what we did that worked.

When we listed our house 18 months ago, there were a total of 12 houses for sale in the development. (late 1950's - early 1970's range) Because we listed 2 weeks before Christmas, we went ahead and priced near the top of the homes that were on the market at the time. No traffic at all over the holidays, as expected.

Mid-January, 2 more houses came on the market, very comparable to ours but priced just a bit lower.

Instead of waiting to see what everyone else did, we moved ahead of the curve and lowered the price one big drop to the 3rd lowest in the development. 2 weeks later it was under contract.

People in the neighborhood were not happy with us for reducing the price the way we did, but you NEVER want to follow the curve down; you want to lead the curve and make everyone else follow you, but hope that they wait just long enough for you to get your buyer first.

Figure out what your absolute bottom line is and adjust accordingly. Price and location are what sells and also what kills a sale. Assuming your location is good, the problem has to be the price.

Oh, and give Craig's List a try. It has worked for several people that I know.

LeavingMA · 06-11-2007, 10:56 PM

Most homeowners also get attached to their homes, which is normal, and often think their property is worth more than it is. Sometimes the real estate agent doesn't help, because they just reinforce that misbelief.

I've seen people compare their properties to ones nearby that have sold that are bigger, have more amentities, and are in better overall condition. So they think they can get the same amount of $ and have a misinformed opinion of market value.

Parsec · 06-12-2007, 08:07 AM

Quote:

Originally Posted by NY'er lost in MA

Also- if you are working with a buyer's agent, they can pull the total market history of any property meaning: how many price drops you have done and how many times you decide to 'relist' it. Any smart buyers agent will probably recommend you don't get involved with sellers using such tactics.

You can get all that info by yourself on ziprealty too.

anncat · 06-12-2007, 10:41 AM

Well too late my realtor already relisted it. I have only 5 weeks left with her and then off market. I will do some improvements such as reface the cabinets and add a wood floor in living room. Other than that the house is in excellent condition and just about 18 years old. It is strange I have had complaints about the trees which I find beautiful and private. In my area people seem to be impressed by concrete everywhere. I have a beautiful 50 foot driveway with trees on both side and privacy in back.
Guess it is not for everyone. We always see more as said in our own property.