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Really? No possibility of an easily remedied problem or two? Just lower the price?
You're the third agent who just wants to lower the price without finding out if there are quick fixes. Hence, the frustration by many sellers.
I'm not an agent and I think it's possibly overpriced.
Could the OP fix a thing or two and make it worth the listing price? Maybe. Question is: how much will it cost to fix these things?
If it costs 10k to fix a problem/problems and you could list it for 10k less and sell it quickly, what's the difference?
Pretty much any objection can be overcome with a lower price. THAT is why, when a house is not selling, people often suggest that the listing price may need to be lowered.
All that said, it's possible that the weekends-only showings are losing some potential buyers. It's possible that the listing photos do not adequately represent the home and do not attract enough buyers.
But, really, we just bought a house last month and I can tell you that anything that was IN the areas we wanted (and it was a fairly narrow area) got a look. If anything, the general trend was that homes looked worse than their photos. There were a few exceptions that looked better in person than in the listing and those were nice surprises.
Point being, if the home is priced right and in an area where people want to buy, it will sell. I can understand the OP's frustration at dealing with showings (it's why we performed mortgage lending gymnastics to buy a home without having to sell and we bought a lower-priced home than we originally planned), but a house that's priced right will sell.
I would show it whenever people wanted to see it. I would also think that buyers taking time off to look on weekdays would not be buyers I'd want to shut out. Lots more time for so-called "looky loos" to grab a realtor to check out a few houses on the weekend, when they (the looky loos) are off work.
If I could only do weekend showings, I'd move out and list it empty.
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But something isn't right here. Too many showings, wrong people/wrong "circumstances". Frankly, I've never heard of such a thing. So what's going on?
I think this past year has been a lukewarm market in a lot of areas. Just not a lot of people out looking. That may be part of the problem -- but, you've had showings.
It might be a good idea to move out for (6 months?) and relist with another agent. First off, a vacant house ALWAYS shows better. And that goes 10X if there are kids and/or pets. The only exception is a house in the 500K up category that has been professionally decorated, and recently. In any event, you'll save yourself a lot of work. That realtor is collecting a fat commission - out of your pocket. Let them do the work of selling the place.
And then, your agent may be doing something wrong. They are bringing in the wrong people - too many if you ask me. For one thing, I always suss out whether they have any "potential buyers" for real estate just like what I'm selling, AND in this specific area - before I give them the listing. I don't ask them - I wait for them to mention it. If you're gonna be OCD about staging, best be likewise about the realtor.
Quote:
Originally Posted by CarnivalGal
That is absolutely, 100% false. Every marketing study has proven that.
Twinbrook is correct, at least in some areas. Even Houston's RE market is down. My wife is a home inspector and this year has been very slow for her and other inspectors. Empty vs. occupied is a geographical phenomenon, I believe. Here in Houston, homes sell better empty. Our high volume realtor suggested we sell our home empty, and we took her suggestion and it went under contract quickly. There are distinct advantages to an empty home. One is, as OP said, the homeowner doesn't have to clean and clean and clean before each showing. Plus the homeowner doesn't have to make him/herself and the pets scarce repeatedly. I went to our empty house twice a week to vacuum and put more room deodorizer in and we got the grass cut one time. Secondly, the house looks bigger without furniture, knick knacks, and clothing in it. Also, it's hard for a buyer to visualize what they would do with a home when the seller's stuff is still inside the home.
As others have said, the fact that OP's home is not under contract already suggests something is wrong. The most common problem is that it's overpriced, and the fact that there have only been 15 showings in three months is a sign that that is the problem. If that's not the issue, it's quite possible that's it's messy and cluttered, and the pics on MLS depict that. Addressing either or both of these will help the home sell. The pricing issue goes back to the comps, so an experienced appraiser is invaluable in helping OP price the home realistically. Any excess stuff in the house shold be placed in storage. Clutter seriously detracts from a home's appeal.
Really? No possibility of an easily remedied problem or two? Just lower the price?
You're the third agent who just wants to lower the price without finding out if there are quick fixes. Hence, the frustration by many sellers.
OK, so this is the fantasy approach. Quick fixes and "easily" remedied problems.
Now, here is the real world: The house has been on the market for 3 months. It has been on the Internet and viewed by thousands and thousands of people. That's 90 days. That's 12 weeks. The entire universe of buyers has seen this property, and 15 potential buyers have taken time out of their lives to make an appointment and walk through and around the property. Nobody has seen enough value to make an offer that the seller will accept. When you have 15 people look, you usually have another 15 or more who drove by it and seriously considered going in, but decided against it, concluding that it could not be a value even if it lived up to its photographs.
If there were an "easily remedied problem", many buyers would have already figured that out and made offers reflective of the "easily remedied problem".
"Easily remedied problems" DO NOT keep homes on the market for 90 days, 12 weeks, 3 months, 24/7 Internet exposure. "Easily remedied problems" do not prevent the HUNDREDS of active buyer's agents in the seller's MLS system from coaxing their buyers to take a look at this product.
OVERPRICED homes do all of these. Extend marketing times, causing ever-lower offers, frustrating sellers, frustrating goals, preventing the "next page" from ever getting turned, generating angst and self-doubt, and just creating overall terribleness.
Now is the time for realism, not fantasy. No quick fixes or easy remedies. Drop the price so that the product is a value compared to the other products competing with it. If I look at this home, and 4 or 5 others in the same price range, and use basic Reason, I should come to the conclusion that this home objectively offers MORE in most or all respects when compared to the other competing homes. I simply can't buy any of the other homes because this one is the best at this price level.
As agents, when we see 5 similar homes in a neighborhood on the market, we can frequently predict which one will sell next. The one that offers the best VALUE when compared to the others.
If you price correctly, you COMPEL buyers to make the decision to buy your house. They cannot rationally do otherwise. That is the power of the right price.
most sellers have such an emotional attachment to their house (home) everything is personal
I do like staging companies that will assess the place and give objective opinions
its tough for the broker to do it ,,because the sellers can take it personally and fire back with both barrels,,
I once suggested to a married couple they get a room painted (it was bright orange because her daughter liked orange) well, you would have thought I asked for a kidney...the wife got all defensive (her daughter had long moved out of the house and was fine )
I once suggested to a male seller he fix his rock wall (falling apart) I said it nicely, and he got all wound up)
I suggested to my step brother to start a company called "first impressions" to evaluate a house before its listed,,, he would give objective opinions what needs to get done for maximum price
again,,,brokers can do this ,,,but many clients don't/wont listen
ive smelled strong dog smells in many houses and suggested they get the carpets cleaned and was almost called a dog hater..
many layers to selling/buying a house
beauty and price is in the eye of the beholder
but on any given day all it takes is that one buyer to see that property and that's it.....they want it!
OK, so this is the fantasy approach. Quick fixes and "easily" remedied problems.
Now, here is the real world: The house has been on the market for 3 months. It has been on the Internet and viewed by thousands and thousands of people. That's 90 days. That's 12 weeks. The entire universe of buyers has seen this property, and 15 potential buyers have taken time out of their lives to make an appointment and walk through and around the property. Nobody has seen enough value to make an offer that the seller will accept. When you have 15 people look, you usually have another 15 or more who drove by it and seriously considered going in, but decided against it, concluding that it could not be a value even if it lived up to its photographs.
If there were an "easily remedied problem", many buyers would have already figured that out and made offers reflective of the "easily remedied problem".
"Easily remedied problems" DO NOT keep homes on the market for 90 days, 12 weeks, 3 months, 24/7 Internet exposure. "Easily remedied problems" do not prevent the HUNDREDS of active buyer's agents in the seller's MLS system from coaxing their buyers to take a look at this product.
OVERPRICED homes do all of these. Extend marketing times, causing ever-lower offers, frustrating sellers, frustrating goals, preventing the "next page" from ever getting turned, generating angst and self-doubt, and just creating overall terribleness.
Now is the time for realism, not fantasy. No quick fixes or easy remedies. Drop the price so that the product is a value compared to the other products competing with it. If I look at this home, and 4 or 5 others in the same price range, and use basic Reason, I should come to the conclusion that this home objectively offers MORE in most or all respects when compared to the other competing homes. I simply can't buy any of the other homes because this one is the best at this price level.
As agents, when we see 5 similar homes in a neighborhood on the market, we can frequently predict which one will sell next. The one that offers the best VALUE when compared to the others.
If you price correctly, you COMPEL buyers to make the decision to buy your house. They cannot rationally do otherwise. That is the power of the right price.
LOL Marc. Love your post, and spot-on. A good realtor will be honest with the seller about how much he/she can REALISTICALLY expect to get for the home. When I sold my home, I had fantasies of getting another $15K more than the eventual list price. Sellers often believe their home is worth more than it really is because of emotional attachments, renovations, whatever. But a home is only worth what it's worth, not what the seller wants it to be worth.
My home was a hideously ugly house in a terrible neighborhood and had little going for it other than recent extensive renovations, and I had only done those in order to sell that albatross around my neck. My realtor said, "You need to price it cheaper. Otherwise people will not even look at it." She was right. At the lower price point, people came, saw, and soon enough, one family bought. Even ugly homes will sell, but only if the price is right
We got three verbal offers with a contingency that they needed to sell their house first to which we said don't bother killing a tree for that. I don't count them as offers in my head but there they are.
1. Throughout this thread...which is based on a question you asked...you seem to want to argue with responders. While I wish you the best selling your house, I also think you need a bit of an attitude adjustment. You seem to be awfully negative about selling your house. I am wondering if this is getting through to your potential buyers. If I had a choice between a couple of houses to buy, and one seller was positive and the other negative, I'd choose to buy from the positive seller, with the expectation that the whole process would just be smoother.
2. I agree with you -- some houses don't sell even if they are at "the right price". But then you have to ask the question if it is something about your house or your price. How are other properties going in your market. In my townhouse community, a half-dozen properties have sold fairly quickly (within 2-3 weeks) and at an average price of around $227,500. Yet, one at the same price has not sold for 8 months. Clearly properties here are moving, except for this one. There's clearly something wrong with that townhouse, but the buyer is sticking to the going rate. I haven't been in it, but my guess is that everyone else has made various upgrades to their townhouses, but she never has...yet she thinks her price is fair based on what everyone is getting...meanwhile, potential buyers see they are getting more in other townhouses where there have been upgrades. Bottom line -- price is not reasonable.
3. So basically, you expect people to buy another house without any money to do so (buyer contingency). Do you expect them to go camp out in a field? Such contingenices as you mention in the above post are common and can have fair limits put on them. It seems to me that you are expecting everything to go exactly your way, but when you market a house you need to balance having things go your way while making a sale look attractive to potential buyers. I can just tell you that based on your posts here, I would not buy your house if you come across in showings like you do in your posts.
Crazy rude. I don't even know what you look at for 2.5 hours.
We had people talk in our driveway for 45 minutes after the showing. I kept driving by periodically with the dog and the kids. I wanted to throttle them.
If they've left the house and are in the driveway chatting, there's no reason for you not to return to the thouse.
But again, check your attitude -- "I wanted to throttle them". They are not the enemy.
I don't eliminate houses based on how clean they are. I am looking at bigger things like double sinks in the master bathroom. I will consider a house with one sink if it has space to put another sink. Another thing I want to know is if the laundry is inside.
I agree to an extent.
When I sold my townhouse in Virginia, the broker and I were debating a price and she said she would take me around to several other townhouses in my neighborhood. Some were pig sties; good luck on those. Some were immaculate; they'll go fast. Some looked lived-in; they'll go alright. There's a happy medium; most buyers are not expecting perfection.
Perhaps you could designate certain days for showings? I don't know, but my house was for sale for several years, so I get it. I especially love when you spend a few hours getting ready for a showing, then they never come.
Seriously, when I was looking, it was not going to matter if a few kid's toys were laying round, or if there were dishes in the sink. If, under the evidence of daily living, there good solid bones, then just don't worry about it.
I'm looking for all these things in a place that feels like home.
I'm willing to do some updating and willing to pay if it's already done. Not looking to take advantage of anyone. But not looking to take on any troubles either.
In a well-staged home, I'm seeing our family life happen. Would we all fit around the table. Is there enough from for everyone in the family room.
In a poorly staged or empty home, I'm trying to figure out where to put the furniture.
I don't need it spotless either. But as I go around, things that need to be cleaned register in my mind as work and I don't get as positive a feeling about the house.
This.
Yes, of course people know that they aren't buying the current owner's personal possessions and the nicest, whitest, fluffiest towels don't make a difference.
But humans are complex beings and we have emotional reactions to all sorts of things, and a pristine, spacious feeling, brightly lit home will evoke a far more positive emotional response in the vast majority of people than a dirty and dingy and cluttered house. That's not to say that people don't look past the emotions and even the nicest looking house might not be a fit for a particular buyer. But that doesn't negate the power of creating that positive impression that you get when you view a house that is "showing ready" in the way people have come to expect.
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