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Old 07-13-2012, 12:24 PM
 
1,256 posts, read 1,334,264 times
Reputation: 3350

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Quote:
Originally Posted by Brandon Hoffman View Post
35 showings with no offers? You either need to improve condition or lower the price, or both.
They have had 3 offers

Quote:
Originally Posted by MaryleeII View Post
I would question the "feedback". why are they even looking at your home if it doesn't meet their requirements? They can tell before they go if the house doesn't have enough bedrooms, too many stairs, one/two story, etc. Yes, some of these must be seen to appreciate, but seems to me agents are just trying to rack up as many viewings as they can without listening to the buyers needs.

Being on the other side, I would be very specific and even write down what I would consider, such as ONE STORY ONLY I can't climb stairs. I would be taken to at least 3-4 two story homes. When I say I can't climb stairs, LISTEN and dont' make me prove the point. Also, I stated gas heat only, no electric and no electric oven. So, we drive up to all-electric homes

YOu need to question the feedback as a seller. Why were people being taken to your home only to find issues they could have screened before going? To make the agent look busy, and make the buyer appear picky---clinet has turned down X number of homes...
There are many reasons people look at a house that doesn't meet all their requirements. They may really love the neighborhood and hope there is something about the house to make up for the shortfall. If a house is lacking one thing on your list, like a big yard, maybe it has a large playroom and a neighborhood park. The buyer may wonder if there is a way to make that work. People look at homes close to what they want all the time. One of our homes we sold had stairs, but was very livable for someone who didn't want to deal with stairs. The main level was set up as a complete house with extra wide hallways, only the bonus spaces were upstairs. An elderly or handicap person could easily live there without ever dealing with the stairs. We built it that way on purpose (resale!) The upstairs would have only been used as an overnight guest area, keeping the main floor clear. A good realtor would show a house like this to someone who says 'no stairs' because it is an option they may not have thought of. Many homes can be easily modified to have a gas oven installed instead of an electric. Realtors often take people to homes that can become what the buyer wants with a minor amount of work. If they are limited to showing only what is 100% on the buyer's list their job and yours, as the buyer, becomes much more difficult. Even so, it sounds like you had a very frustrating time with your realtor. I hope the next time is a much better experience.
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Old 07-13-2012, 12:53 PM
 
Location: Columbia, SC
8,862 posts, read 17,489,949 times
Reputation: 6244
3 offers, should have taken one. Water under they bridge, they are gone. They told you they think you're 50k overpriced. Drop the price, sell the home, and move on.
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Old 07-13-2012, 02:33 PM
 
Location: New Jersey
8,157 posts, read 11,913,140 times
Reputation: 7542
Quote:
Originally Posted by Brandon Hoffman View Post
3 offers, should have taken one. Water under they bridge, they are gone. They told you they think you're 50k overpriced. Drop the price, sell the home, and move on.
What if the house was listed for $300,000, then $50,000 was "I think you might be under water so here's an offer to help you move on with your life while I get a house I can flip"

Then the 3 offers weren't legit.
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Old 07-13-2012, 03:12 PM
 
Location: Florida -
8,268 posts, read 10,055,329 times
Reputation: 15169
With 35 showings and 3 offers, it sounds like you are on the right track -- Offers at $50K below asking price might well suggest a need to drop the price, but, ...? Did you counter on the two offers you received or simply ignore them? An offer is only the start of negotiations ... or did you expect to sell for full list price?

Feedback is another subject. I've listed multiple times with realtors and find that 'feedback' is always an issue. If you were there and somebody said, "It's a lovely house, but, I don't like the color of the carpet", you would follow-up with something constructive ... like, "How much is carpet color worth to you?" or "What if you could select your own carpet?" -- But, I've noticed that realtor after realtor doesn't seem to recognize these buyer indicators as potential 'buying signals!' OBJECTIONS, PARTICULARLY WHEN STATED WITH POSITIVE COMMENTS, ARE AN OPPORTUNITY TO SELL! (Do they need to get hit by a truck before they realize they are in the middle of the road?).
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Old 07-13-2012, 03:20 PM
 
Location: NJ
17,579 posts, read 38,419,683 times
Reputation: 16101
Quote:
Originally Posted by camaro69 View Post
What if the house was listed for $300,000, then $50,000 was "I think you might be under water so here's an offer to help you move on with your life while I get a house I can flip"

Then the 3 offers weren't legit.
The OP herself said she should have accepted it.

"This was a decent offer (in hindsight) but we didn't accept because the house had only been on market 2 days"
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Old 07-13-2012, 07:17 PM
 
Location: New Jersey
8,157 posts, read 11,913,140 times
Reputation: 7542
Quote:
Originally Posted by manderly6 View Post
The OP herself said she should have accepted it.

"This was a decent offer (in hindsight) but we didn't accept because the house had only been on market 2 days"
I stand corrected.
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Old 07-13-2012, 08:58 PM
 
126 posts, read 219,260 times
Reputation: 55
I'm enjoying all the discussion my post is getting. I'm getting lots of insight into real estate. We've owned our home for 30 years - it's the only home we've ever owned, thus, it's our first time selling a home. We are completely new at the whole real estate thing. That's probably the reason I didn't even think to put in all the information in the first post (like the 3 offers).

As with everything, there are always complicating factors. The first offer, the one that came within two days, came with some other issues. The buyer wanted us to move in two weeks. Our new home would not be ready for 4 months. We were willing to compromise (move in 2 months). That didn't work for the buyer. I did the math and it would have cost us about $17,000 to store furniture and live in temp housing. We countered other offers, but didn't hear back.

Other facts about this home sell - we are not under pressure to sell. Yes, I'd love to not have to keep the house in tip-top condition and I'd love to be able to stay home some more (and not hang out in coffeeshops during showings!). I guess that's why we've not felt the need to take the offers.

Again, thanks for all this feedback and discussion. I appreciate all the words of wisdom from those who have been down this road.
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Old 07-14-2012, 06:55 AM
 
Location: The Triad (NC)
26,929 posts, read 58,187,169 times
Reputation: 29437
Quote:
Originally Posted by bluecar View Post
Other facts about this home sell - we are not under pressure to sell.
The other foot drops.
In 2012 you're competing with sellers who (in 99.987% of cases) NEED to sell.

If you can stay put or afford to carry another mortgage ("our new home would not be ready for 4 months")
while this place sits empty then you probably should do exactly that for another year or two while the
rest of the market shakes out and stabilizes.

However... No home should sit empty and you really don't want to rent it out.
So...if you have a contract to buy a new home then you really DO need to sell.
And that really means you have to cut your price.

Last edited by MrRational; 07-14-2012 at 08:17 AM..
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Old 07-15-2012, 01:31 PM
 
Location: So Ca
14,050 posts, read 13,653,979 times
Reputation: 11943
Quote:
Originally Posted by bluecar View Post
Other facts about this home sell - we are not under pressure to sell. Yes, I'd love to not have to keep the house in tip-top condition and I'd love to be able to stay home some more (and not hang out in coffeeshops during showings!). I guess that's why we've not felt the need to take the offers.
As MrRational said, that explains a lot. It also explains why so many houses sit and sit on the market, long past the date they should have been removed. I really didn't understand that about the market here....there were houses in our neighborhood that had been on for months. We recently listed our house, which we'd lived in for over two decades, at the bottom end of the comps that our realtor gave us because we didn't want it to sit on the market and we did want to sell. As I've read over and over on this subforum, it really is all about price, other factors being equal (location, schools, upgrades, square footage, etc). It sold in 10 days, cash offer. We had a great realtor, which helped.

There's nothing more disruptive than having people tromp through your home at all hours, some with little or no notice. Between that, having to keep it immaculate, and coming home from work to find people standing in your kitchen examining appliances with their realtor....I don't know how you can handle it and not be motivated to sell.
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Old 07-16-2012, 03:30 PM
 
Location: Florida -
8,268 posts, read 10,055,329 times
Reputation: 15169
Another thought about multiple showings to potential 'buyers' who already knew they needed X-number bedrooms, no stairs, bigger yard, etc. .... Sometimes less energetic sales people (cars or houses) will use non-qualified listings/showings to actually sell another property by making it look better! (particularly if you are in a good neighborhood with a slightly high price .. sometimes referred to as a 'stalking horse').

[Example: 'Show the buyers 2-3 higher-priced houses in the general area that really don't meet their criteria; ... then, show them the exact house they have described -- at a lower price! -- Some buyers will jump on the right listing, particularly after already seeing 2-3 homes that really didn't meet their criteria.]
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