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If you got an offer yesterday and counter back and forth a couple of times, were they all verbal counters? Even if they said they were withdrawing their offer, I would counter something in writing and have your agent send it to them. That will 9/10 times generate a written response even if it is rejection.
If you want to sell, you have a ready, able, and willing buyer there. Don't lose sight of them. The agents need to try and get this thing regrouped and back going...
I don't know how things work where you're at, but here we typically always counter in writing with a 24 hour response time. If I don't hear within 24 hours I call to find out what happened. Often times it is agents not being able to reach their clients in time, but still having interest. Time frames can always be fixed in an addendum.
As for the link you posted. Stunning photos and home. Paint may be a little off on the inside of the home, but you could paint the inside tomorrow and the buyer most likely will want it painted something else.
My honest opinion, what ever your last price reduction was, most likely did not reach a new pool of buyers. If it did, you're leaving money on the table. In my area, people in that price range are probably searching in $10,000 increments. Meaning up to $300k, up to $310k, up to $320k. So being price at 305,900 I think you're leaving $4,100 on the table. I would have priced at say $319,900 then at $309,900, then at $299,900.
If you got an offer yesterday and counter back and forth a couple of times, were they all verbal counters? Even if they said they were withdrawing their offer, I would counter something in writing and have your agent send it to them. That will 9/10 times generate a written response even if it is rejection.
If you want to sell, you have a ready, able, and willing buyer there. Don't lose sight of them. The agents need to try and get this thing regrouped and back going...
I don't know how things work where you're at, but here we typically always counter in writing with a 24 hour response time. If I don't hear within 24 hours I call to find out what happened. Often times it is agents not being able to reach their clients in time, but still having interest. Time frames can always be fixed in an addendum.
As for the link you posted. Stunning photos and home. Paint may be a little off on the inside of the home, but you could paint the inside tomorrow and the buyer most likely will want it painted something else.
My honest opinion, what ever your last price reduction was, most likely did not reach a new pool of buyers. If it did, you're leaving money on the table. In my area, people in that price range are probably searching in $10,000 increments. Meaning up to $300k, up to $310k, up to $320k. So being price at 305,900 I think you're leaving $4,100 on the table. I would have priced at say $319,900 then at $309,900, then at $299,900.
Hope this makes sense and helps?
-Trent in AZ
Thank you for the very specific advice and yes, it does help. I know the paint is not all neutral but we have been told it is tasteful. We've also heard what you said, that more than likely the new owners would repaint no matter what we do.
We didn't hear from buyers today, all offers over the weekend were written. Yesterday we asked our agent to follow through and let their agent know we may still have a little to give but we haven't heard back. I think we will follow your advice and ask our agent to submit a written offer with our lowest price.
We started at $330,000 then dropped to $325, $314,900, $312,900 and now we are at $305,900. Showings have picked up at the new price but this is our only offer.
Hang in there! Without boring you with details, let me just say that our situation has many similarities (other than the fact that our realtor is very good at communication and feedback and we love her for that!). We dropped our price last week and got three offers this weekend, and now have a contract and back up offer. Prior to that, we had very sporadic showings and we also are competing with lots of new construction (our home is only four years old).
We're also losing some money on the deal overall - thank goodness we have a good chunk of equity in the house. I can't imagine what my panic would be like if we'd bought it with little or no down payment.
Oh, and we buried St Joseph upside down in a flower pot last week too - I'm just sayin'. Hey - no one can accuse us of not doing everything we could to sell this house! LOL SHOUT OUT TO ST JOSEPH!
If it's not selling and showings are sporadic you need a price reduction by probably 10% but it may take more to sell the home.
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