4 days on the market, 20-25 showings, No offers? Time to be concerned? (contingent, feedback)
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My family's house has been on the market since Friday afternoon, since then we've had a lot of showings...I'm guessing about 22 but anywhere from 20-25. No offers. I'm a pessimist so i always panic and think negatively. I've looked at comparisons and our house seems fairly priced. It seems to be a nice middle of the line price. Other houses going for similar prices in my town look either overpriced, underpriced, or priced right and ours seems priced right.
Is it time to panic yet or should i relax and give it more time? I don't feel comfortable giving my exact town cause it is a very small town but i am in Northern NJ, 15 minute drive from NYC....and in a seller's market in a very desirable town.
I have seen houses go real quick here despite the fact they seem OVERPRICED....but i also have seen houses that look UNDERPRICED and are NOT selling for some reason. I don't understand it.
i am in Northern NJ, 15 minute drive from NYC....and in a seller's market in a very desirable town.
I've looked at comparisons and our house seems fairly priced.
we've had a lot of showings...I'm guessing about 22 but anywhere from 20-25.
No offers. Is it time to panic yet ...?
No.
Of the houses that ARE selling in YOUR area (over the last 12 months)...
how many were contingent on the buyer selling their house first?
Your first week or two, you'll get lots of lookie-loos. They are wasting everyone's time and either don't intend to buy or can't afford to buy at your price level.
The agents are supposed to weed them out so that they don't bother you, but not very many agents do that. They tend to show the house to anyone who asks to see it.
4 days you started to panic? Just give it some time and give your agent some time to get some feedback if you are not getting an offer.
It's not so much the 4 days that is bothering me as I read the average time to sell a house (get an offer that is accepted) is about 30 days. It's the fact we've had at least 20 showings but as much as 25 and no offers.
I did some research on showings and offers and apparently the standard with real estate agents is every 10 showings u get an average of 1 offer.....so we should have had at least 2 by now. It said if you don't have an average of 1 offer for every 10 showings your house may be overpriced by about 5%.
It wasn't specific on the area you live in though. It was just a general guideline. The average amount of offers in my town per # of showings could be higher or lower than that.
There are houses here that are fairly priced that are on the market for 6 months or more and never lower their price and then end up selling for the price the buyer wanted. But they could have been getting a lot of offers and just not accepting and we have none.
Fortunately we aren't really in a rush to sell, we can wait on it, but we have to sell eventually even if it's 6 months from now.
Of the houses that ARE selling in YOUR area (over the last 12 months)...
how many were contingent on the buyer selling their house first?
I'm sorry man I'm not sure what you mean by contingent on the buyer selling their house first. I don't know much about selling a house, real estate or anything like that. I'm 24 and live with my parents and they are the ones selling the house.
Do you know of a website I can go to to find out that information? or do we have to ask our broker?
Your first week or two, you'll get lots of lookie-loos. They are wasting everyone's time and either don't intend to buy or can't afford to buy at your price level.
The agents are supposed to weed them out so that they don't bother you, but not very many agents do that. They tend to show the house to anyone who asks to see it.
I don't think they are being weeded out because on Saturday we had a scheduled showing at 4:20 but they came at 4 and we weren't out of the house yet. So my dad asked the broker with the 2 people looking if he can pull his car out of the driveway so we can leave and the broker said "it's ok we're just going to be really quick".
They were in there for 2 or 3 minutes while we waited in the backyard. So the broker new before even coming inside that our house is NOT what these people were looking for.
The buyers with the broker were probably either looking for higher priced or lower priced house and the broker was just showing our house as a "this is what you can get for x price".
But on the other hand I'm worried the broker may have thought our house was overpriced and was showing our house as one that is overpriced and how they can get more for their money on another house.
Forgot to mention. Of the 22-ish showings our broker only told us one feedback. It was positive, they loved the house and everything but they have an autistic son and we are right next to a brook, elevated about 15 feet from the brook by a brick wall. We have a small wooden fence separating our house from the drop but i guess the people wanted a backyard where they can let the kid play without having to be carefully watched.
So I'm assuming we may have gotten a lot of negative feedback and the broker just doesn't wanna tell us?
I'm sorry man I'm not sure what you mean by contingent on the buyer selling their house first.
In order to buy YOUR parents home ...they will need sell their current home first.
Their offer to buy at $X would be "contingent" on that first sale.
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