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Well its been 7 months on the market and not one offer.We have dropped our price 16k and are offering help with closing cost.Our agent is planning a open house this Sunday.I was trying to think of something to say in the ad that may help stir some interest and not sound deperate.Like bring all offers.We need to do something have had LOTS of showings and the open houses have always brought people in.Have never had any negative comments.Lets hear some hooks.Anything.Thanks
Your price is too high. You can market until you are blue in the face, but your price is too high.
You have had lots of showings. Every one of those buyers have rejected your home. Ask your agent to follow up on all those showings to find out why the buyers rejected your house. It will help you understand why your price is too high.
Assuming that your house is in good shape and is being presented well, your price is too high. Your job now is to find out exactly how far you need to drop your price to attract a buyer. There is a specific number that will work and your agent should help you find it. It needs to be below all the other comparable homes.
Your price is too high. You can market until you are blue in the face, but your price is too high.
You have had lots of showings. Every one of those buyers have rejected your home. Ask your agent to follow up on all those showings to find out why the buyers rejected your house. It will help you understand why your price is too high.
Assuming that your house is in good shape and is being presented well, your price is too high. Your job now is to find out exactly how far you need to drop your price to attract a buyer. There is a specific number that will work and your agent should help you find it. It needs to be below all the other comparable homes.
Did the OP not say that out of all of the feedback there was no negatives? I would guess that if it was price someone would have said that by now don't you? Sometimes it takes just that one person who falls in love with your house and the OP hasn't hit it yet....
We had a lot of problems getting feedback from our realtors when we were selling. We finally switched realtors...twice...and got a good one who always shared feedback.
It took us six months to sell our house but the main problems with the house were ones we couldn't help: the layout and the fact that there was not a garage. We just had to be patient and wait for the right buyer, who did eventually come along.
Alot of times buyers do not want to hurt the feelings of the sellers and "kill them w/kindness" so to speak, when realistically it ALWAYS comes down to price. No offers in 7 months? Yeah, you're no where where you need to be. Putting lipstick on a pig by dressing up your ads in the paper will do nothing. Neither will holding more open houses...
If you're serious about selling you'll find a realtor who KNOWS your LOCAL market...(alot of realtors do say all RE is local, right?)....
1970, I think I understand why you got upset. You weren't asking for people's opinions on the price of your home (which nobody knows and therefore nobody knows how you are priced for your market so they shouldn't be commenting). I am not sure of things to say on your open house ad to get more people to come other than stating that you are a motivated seller, putting money towards closing costs, and then play up whatever really good feature you have. Does your house have new flooring, new appliances, really nice school district? Any of those things would work. I lived in the city and advertised that there was a bus stop right outside my neighborhood, which drew in 3 or 4 lookers more than I would have gotten for that particular open house (according to my agent) because they specifically wanted a place where they could take the bus instead of driving. Good luck on your open house!
I do appraisals. That means I don't care whether a house sells or not. I am always interested in the dynamic that creates market responses, and after 20 years there is one constant. Problem houses get sold with a short marketing time by pricing it right. Magnificent houses don't get sold because they are not priced right. Everything is offset by price. You HAVE to make the value worth the money.
I understand there are outside factors that affect your price. Things like a lack of equity (too much mortgage) where you actually have to pay someone to take your house. Take a HARD look at the market. Look at every house that sold in your neighborhood in the last 6 months. Graph them and see what the trend is.....then get ahead of the trend. If you are upside down, and you don't have the money to cover the deficiency, talk to a bankruptcy attorney.
Bottom line is, price determines the sale and the time of sale. If you are priced wrong you sit on the house for seven months. If you are priced right, you get on with your life.
If this angers you or makes you feel bad or otherwise spoils your day, let me know and I will post something about how all the Realtors are bad and are picking on you and the people in your market just don't understand your needs or desires......on second thought, never mind. I get hired and make my living telling the truth.......blowing smoke and making people feel good isn't in my nature.
Well, I'm not going to touch the price discussion but offer a suggestion instead. It's difficult to give "selling words" to a property we know nothing about.
Remove all your emotions about the house...totally disconnect. Go outside and look as if you were a buyer shopping and I mean really LOOK! What do you see that sets this house apart from all the others in the neighborhood? Now do the same thing inside. After all, there were things about this house that attracted you to it when you bought it. Those things will/should attract others.
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