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But, you were under contract within half the time that the OP has been on the market.
There must be some similarity you noticed, for you to post your note that you have gone through the same thing as she is.
But I am in a different market then her. My advantage is nothing is for sale much in my neighborhood.
I don't have new construction to compete with. Comps that are still new enough to use are few and far
between. Thats my struggle.
also the fact is people just cant get loans with no income declarations, no money down, you just needed to be alive and breathing to qualify
this is what we are left with. People are broke with ruined credit over foreclosures after being put into homes that in no way they could afford
when the loans terms changed. Of course you know all that.
See, even you have been swayed by the replies. Not once have I asked this forum why my house hasn't sold. I've asked 2 questions. (1) why are most realtors lousy at giving feedback; and (2) is there anything I can do to help house show better to a couple who was picking between mine & another one.
Those are the 2 questions I've asked. I'm not shy...if I wanted to ask why it hasn't sold, I would say "Hey, realtors, why hasn't my house sold?"
Your getting price talk because the questions always lead back to price.
You want feedback on the showing so you know why your house didn't sell to that buyer? You are getting that feedback in a way, they think you're overpriced.
You want to know how make your house stand out? It stands out by being well priced. Not trying to be a smart alec but MrCurmudgeon nailed it.
I feel Mike and myself gave you good advice. Let me know when you get the info on how many homes sold since you went on the market and what the average DOM was on those. I'm curious now.
Well, we found out that the buyer chose the other house . Oh well....our buyer will come along. On a positive note, we had 2 showings yesterday.
Oh, bummer! It would be constructive to ask your agent to let you know how much the buyer paid for the other house as soon as it closes escrow. Then compare your house w.r.t. appearance, layout, location, DOM, etc and see whether any big differences stand out. The buyers may not tell their agent the REAL reason they picked the other house -- in fact, the real reason(s) might be subconscious.
Being on the market so long is crazy making. Best of luck for the spring season.
I suspect that once a buyer narrows the choice down to two possibles, that price is no longer an issue. They can afford both the finalists. At that point, they are considering other factors.
However, OP, if you are getting viewers and not getting offers, that is a good indication that something is wrong. There are smells or bad paint, or a dirty next door neighbor, or something that makes the house unattractive.
If the house is lovely and move-in ready and the neighborhood is wonderful, then the price is too high. If the price is very close, then it might only take a very small drop. That brings in new buyers and it might make your house the best option in the new, slightly lower, price band.
When my husband and I were househunting in 2006 we found two homes in the same neighborhood that were amazing and could not decide.
House 1: FSBO, immaculate interior that matched all our color schemes, in-ground irrigation system, private backyard, HUGE shed, more square footage, on the main street of the n'hood (read: heavier traffic)
House 2: Realtor-represented, corner lot, somewhat dated interior that would need to be changed, no irrigation system, HUGE backyard with brand new two-story deck (but visible from the street), an upstairs laundry room, a great location in the neighborhood, similar floorplan to our old house
We did second tours of both homes because we truly did not know which one we would want. The pros of each were so different (H1 had irrigation system but H2 had the ginormous backyard; H1 had more sq ftage, but H2 had the upstairs laundry room; etc.). In the end, we decided to go with House 1. Here we are eight years later in the same house.
Price was not a factor for us - sometimes it's not about price - but about the livability of the home. I could have easily been satisfied with EITHER home we looked at, but in the end our gut told us to go with House 1. But it wasn't because we didn't like House 2. House 1 just had better "pros" than House 2.
Here are two tips that, based upon personal experience, can succeed.
1. I sold my second home with a roast in the over.
2. As a Realtor, I sold several listings by offering (with the sellers' cooperation) a higher commission to cooperating agents.
The agents would actually bring it up.
"Larry, do you want to know why I sold your listing instead of the one my office has a few doors away?"
Here are two tips that, based upon personal experience, can succeed.
1. I sold my second home with a roast in the over.
2. As a Realtor, I sold several listings by offering (with the sellers' cooperation) a higher commission to cooperating agents.
The agents would actually bring it up.
"Larry, do you want to know why I sold your listing instead of the one my office has a few doors away?"
I really like our NCAR standard that buyers' agents indicate the expected pay, and any commission variance from that expected pay must be disclosed in writing to the buyer prior to writing an offer.
IMO, agents who would steer buyers to overpriced properties because there is a bigger payday are just scum.
Here are two tips that, based upon personal experience, can succeed.
1. I sold my second home with a roast in the over.
2. As a Realtor, I sold several listings by offering (with the sellers' cooperation) a higher commission to cooperating agents.
The agents would actually bring it up.
"Larry, do you want to know why I sold your listing instead of the one my office has a few doors away?"
"Because I'm so handsome?"
"No, because it paid more."
One-half percent would usually do it.
Buyers don't buy homes because their agent makes more money. I doubt a single has ever purchased a home for the sole reason their agent made more in it vs the neighbors home. Buyers are aware of what inventory is available because they have access to so many search engines.
Buyers don't buy homes because their agent makes more money. I doubt a single has ever purchased a home for the sole reason their agent made more in it vs the neighbors home. Buyers are aware of what inventory is available because they have access to so many search engines.
Yeah, as a buyer I would be very leery of my agent trying to steer me towards a particular house, especially if there were a lot to choose from.
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get as much info as you can about the other sale
. Oh well....our buyer will come along. On a positive note, we had 2 showings yesterday.
