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Old 07-12-2012, 01:07 PM
 
126 posts, read 218,198 times
Reputation: 55

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Here's the situation: our home has been on the market for one month. We've had 35 showings. We've had wonderful feedback on the home, just that a certain element does not work for the potential buyer. There's always been just one thing wrong for the potential buyer (stairs, needing one more bedroom, needing more open yard space, too many trees/too much shade, no place to put a swimming pool, needing a garage, etc, etc) - but the one negative has always come with tons of positive comments. Examples of the comments include things like "nicest home I've seen in years", "lovingly maintained home", "excellent upgrades", "my clients love, love, love this home but....(fill in blank)", "stunning home", "this is an amazing house", etc.

Here's my question: do real estate professionals just put in positive comments to be nice? Are they trying to "let me down easy"? Are they honest with the feedback? Does it serve a useful purpose? No one has commented on pricing - would they comment if they thought the home was overpriced?

I'm asking because I'm wondering if I should lower price of home. I understand 35 showings is a lot - but I also understand that most homes sell with this many showings! Or, I'm reading into all the positive comments that maybe it's a nice home (I think it is, but remember it's mine) and there might be someone out there who doesn't need/want a swimming pool, garage, yard, fewer trees, etc)

Thanks!
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Old 07-12-2012, 01:30 PM
 
Location: DFW - Coppell / Las Colinas
29,920 posts, read 34,526,470 times
Reputation: 35918
I usually only give feedback on homes that have a fixable problem. Most homes that show well, it's just not the right home or it's overpriced. If I have a buyer who loves the house I give no feedback if we are going to make an offer. I don't want to hurt their position as if they had to have the home.

This is a strange market. Buyers are mostly looking for deals and you might be overpriced. After 35 showings and good feedback you've not received an offer.

You and your agent need to look at your competition and maybe consider a price adjustment.
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Old 07-12-2012, 01:36 PM
 
Location: Dallas TX
14,294 posts, read 20,544,645 times
Reputation: 20159
Quote:
Originally Posted by Rakin View Post
I usually only give feedback on homes that have a fixable problem. Most homes that show well, it's just not the right home or it's overpriced. If I have a buyer who loves the house I give no feedback if we are going to make an offer. I don't want to hurt their position as if they had to have the home.

This is a strange market. Buyers are mostly looking for deals and you might be overpriced. After 35 showings and good feedback you've not received an offer.

You and your agent need to look at your competition and maybe consider a price adjustment.
Totally agree
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Old 07-12-2012, 02:08 PM
 
Location: Raleigh, NC
11,791 posts, read 27,440,956 times
Reputation: 8114
35 showings and no offers? If that were my listing in Raleigh, NC, I'd have to say the only thing that needs to be done is lower the price.

By the way, 35 showings in 30 days is AMAZING. I've never had that in all the years I've been selling Real Estate!

Best of luck!

Vicki
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Old 07-12-2012, 02:11 PM
 
Location: The Triad (NC)
26,837 posts, read 57,830,396 times
Reputation: 29235
Quote:
Originally Posted by bluecar View Post
I'm asking because I'm wondering if I should lower price of home.
Quote:
Originally Posted by Rakin View Post
Most homes that show well, it's just not the right home or it's overpriced.
Nearly everything will be overpriced before labor Day.

Quote:
Originally Posted by bluecar
I understand 35 showings is a lot - but...
but (as regards the "not the right home" concern) that is a LOT of people and agents
to have misread the details as shown in the pictures or described in the listing
relative to the needs/desires of the presumably qualified lookers.

If not a single one has come back to you with even a single offer of any sort...
well, that leads me to think that something else is going on beyond price.
I'd say that you really do need to question the basic assumptions.
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Old 07-12-2012, 02:30 PM
 
Location: NJ
17,579 posts, read 38,288,152 times
Reputation: 16098
Good point MrRational. That many showing and no offer is hard to imagine price is the only issue. Assuming there are decent pictures up for the place and people know the price before they go and see it that seems like a heck of a lot of showings to get zero offers.
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Old 07-12-2012, 04:17 PM
 
Location: Mostly in my head
19,631 posts, read 53,481,140 times
Reputation: 18538
THe agents who showed my house had no trouble giving negative feedback. In fact, all I got were comments like "it's a beautiful house but".
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Old 07-12-2012, 06:25 PM
 
Location: Barrington
41,848 posts, read 31,715,364 times
Reputation: 14076
What does your agent have to say?
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Old 07-12-2012, 08:16 PM
 
126 posts, read 218,198 times
Reputation: 55
OP here. I really appreciate all this helpful feedback and advice. Thanks to all of you!

I didn't address offers in my original post. Yes, we've had 3 offers, all in the first week. The first offer was from someone out-of-state. She hadn't even seen the house in person, but made the offer sight unseen, by way of a local agent, just from what she saw on internet. This was a decent offer (in hindsight) but we didn't accept because the house had only been on market 2 days. Two more offers came in that week, both about $50,000 under our asking price. Again, because the house had just been listed, we didn't feel the need to jump at these offers. All these buyers were looking at other properties and must have gone with their other choices.

Another factor contributing to large number of showings - at least 4 of these have been second showings. One more interesting thing - some showings have been scheduled for 2 hours. Needless to say, I haven't been home much!

I haven't talked with my agent yet - I'm doing that on Monday. I ended up here because I was doing some searches to get as much front line info myself, specifically about # of showings (because all my friends seemed amazed at the number of showings, I thought this was normal).

Several questions that haven't been answered. Do agents just give positive feedback to make sellers (and other agents) feel good? Would feedback include thoughts about home being overpriced for market?

Thanks, again!
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Old 07-12-2012, 08:37 PM
 
2,819 posts, read 2,662,040 times
Reputation: 1211
From a different perspective. I used to be a agent. That many shows tends to tell me price might not be the problem. I would look at how the neighborhood looks. Something is turning the potenial buyers off that they dont want to admit in writing. It could just be a vibe they get or as little as the way a neighbors yard looks. With that
many showings your listing must look apealing.
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