Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What are you doing to help you listings sell in this market? I feel like many realtors are playing the game the same way as they did at the height of the market, basically, don't do much aside from list the house, have an open house or two, and the advice is always to "lower the price". Price is the big factor, I understand, but if no one is shopping for houses at all over a certain price point, what then? You could keep lowering until you give your house away. What kind of unique or new ideas have you come up with to help get some potential buyers in the house?
I agree, when it's a buyer's market, price is 90% of the market. Now, for that 10%, we are using several points including Craigs List, Trullia, Zillow, and several historically good tools. We are selling our listings.... Don't forget the value of the yard sign.
When there is an oversupply of listings, nothing can be done but lower the price if the condition/terms/marketing are good. There are more houses fore sale than there are buyers right now.
I had a home for sale in a neighborhood that had others very similar, for sale. My listing was clean and newly painted and my sellers really had it staged well. I say "staged" but it wasn't really staged, as that was how they lived in it!
The home had no negatives...no street noise, no power lines, etc.
We looked at the comps, priced it about less than any of the comps...$5,000 less. We had our first offer in 3 days and our 2nd offer, the next day.
We sold it for over the listed price since we had 2 buyers.
I had a home for sale in a neighborhood that had others very similar, for sale. My listing was clean and newly painted and my sellers really had it staged well. I say "staged" but it wasn't really staged, as that was how they lived in it!
The home had no negatives...no street noise, no power lines, etc.
We looked at the comps, priced it about less than any of the comps...$5,000 less. We had our first offer in 3 days and our 2nd offer, the next day.
We sold it for over the listed price since we had 2 buyers.
Vicki
This is pretty much it. You need to be the cheapest of the comps to get buyers in your house.
Does offering a bonus to the selling agent really get them to show your listing? I've had a couple of agents tell me that because they have to disclose any SA bonuses to their buyers, they feel like they have to give part, if not all, of the bonus to the buyer, so the bonus to them is really worthless.
I've also had a couple of agents tell me that they always show listings of their own agency, and exhaust that list, before they will show houses listed by another agency. Doesn't seem fair, but apparently it happens. Will offering them a SA bonus get them to bring their clients to your listing? How much of a bonus will get their attention, if at all?
I think it probably varies from market to market...even more than you might expect. I'd rely on your local agent's knowledge. We went through a period where it seemed like every listing had a bonus but now you rarely see them. I don't personally think they work because I (perhaps naively) believe that most agents really do try to service their buyers in the best way possible (i.e. show them every appropriate listing without regard to the compensation.) I'd advise to save the money and price the property right.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
