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Our house is listed and it seems like the agent si doing all the things a listing agent does to market the house. We are on realtor.com with multiple photos and tour, her website, been advertised in local homes and land magazine, on Craigslist. We even lowered our price 5 weeks after listing by 8k. (Did not make a difference in the showings of the house). We are in line with the comps in the neighborhood. We are willing to accept a lower offer but aren't ready to dump the house.
We had an open house-it was a bust. We have not had a realtor open house.
It now seems like since all that has been done, we are just waiting for a buyer's agent to bring someone to our house. We have had 5 showings, no offers in 2 months. Is there anything more to be done?
I have heard that the market is slow, it isn't Spring yet and things should pick up. Don't panic-but it is hard not to panic since nothing has happened in showings since Feb 10th. Thanks for any info/input.
In some areas, agents just don't come to agent open houses. Brokers, unless they are associate brokers, who are not using their brokers license, but are acting as sales agents, will not come to open houses because they are running the business. It's the sales agents that do the selling.
In the area where I am, holding an agent open house is futile. They won't show.
In the east bay area of San Francisco, agent open houses are very popular and all the local agents do show. So it depends on the area the OP is in, whether an agent open house will be feasible.
Our house is listed and it seems like the agent si doing all the things a listing agent does to market the house. We are on realtor.com with multiple photos and tour, her website, been advertised in local homes and land magazine, on Craigslist. We even lowered our price 5 weeks after listing by 8k. (Did not make a difference in the showings of the house). We are in line with the comps in the neighborhood. We are willing to accept a lower offer but aren't ready to dump the house.
We had an open house-it was a bust. We have not had a realtor open house.
It now seems like since all that has been done, we are just waiting for a buyer's agent to bring someone to our house. We have had 5 showings, no offers in 2 months. Is there anything more to be done?
I have heard that the market is slow, it isn't Spring yet and things should pick up. Don't panic-but it is hard not to panic since nothing has happened in showings since Feb 10th. Thanks for any info/input.
Hi sunnie,
What part of the country are you in?
Whether or not your level of showing traffic is normal depends on how the market in your area happens to be.
In some markets raising the commision offered to the buyers agent will improve traffic and this can help get a house sold. As Captain Bill said many parts of the country will get zero traffic on a broker open. I have worked as an agent in three states and have noticed in parts of this country buyers hibernate from the second week in November until late March. I know it can be difficult but for the majority of the country two months on the market is no time at all. Very few sellers are seeing more than one offer their homes entire time on the market, so dont expect it.
We live in SW Durham NC. I have heard mixed reviews on agent open houses. Our agent said that most the agents know our neighborhood and don't come to them. (but they haven't been in our house!)
If you raise the buyers agent commission to 4%-where does that extra 1% come from-the listing agents half or are we now kicking in 7% for the commission on the sale of our house?
If you raise the buyers agent commission to 4%-where does that extra 1% come from-the listing agents half or are we now kicking in 7% for the commission on the sale of our house?
My understanding is that Durham is pretty flat for the most part but am not familar with the inner workings of that market. I would expect that being somewhat flat that average days on market would be around 120 or greater so I wouldnt worry about the time line at this point. The increase in commision generally comes from the seller. Depending on your homes price range it may be better to offer a 2,000 bonus, for contract that closes within so many days, and some sort of buyers incentive. If you are priced at the comps. do these sort of things first before you think of lowering your price it will cost you less. For a home around 200,000 for a price reduction to really be noticed it would have to be around 10,000, so insentives for the buyer and buyer's agent would be much more cost effective. Something that you need to know is that just increasing the agent commision or offering a bonus is not enough your agent would have to market this incentive heavly to agents. Hope that helps hang in there and good luck.
We live in Charlotte and had a realtors open house a few weeks ago, very well attended and afterwards we have had two showings. The realtors expressed that our house was in wonderful condition and that they would make no changes and even said that they really couldn't understand why it hadn't sold, yet here we sit. Hopefully, the spring will bring new buyers. At least in this area the market is still pretty good.
Good Luck to you. The Realtors open house is a great idea and it still may work for us!
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We can usually find a local lender to pony up for that.
