Here's a common scenario these days:Â Your home listing is getting tons of hits on the internet, but only scattered showings.Â Your showings aren't giving feedback (or your agent has to follow up half a dozen times before the agent gives any indication of how the showing went.)Â Then, you do get feedback, but it seems too vague to have been given any serious thought.Â You just can't figure out why your home isn't selling.Â And, you are very frustrated.
Welcome to the club.Â We're all frustrated by the current environment in the housing market in our region, and we're one of the BEST regions in the country in which to live right now.Â There are some things you need to know about, in order to realize that you aren't alone in your frustration.Â There should be a little bit of comfort in that.Â But, you also need to know that the feedback you do get from a showing isn't all that it might seem.Â Your showing feedback may be buffered by the buyer's agent.
House needs some TLC
Common feedback in an older home in DFW, but not so much in a younger home - orÂ so you would think.Â The reality is that MANY people move into a home and move out of a home without too much general maintenance beyond basic cleaning.Â The result of living like this is that your home shows wear in only a matter of years.Â We've toured 3-year-old homes that looked so lived-in that you would think it was 20 years old.Â That's a shame, as the first rule in today's marketplace for homes is that you have to clean it within an inch of your life, and make sure that it looks like nobody lives there.Â You have no idea how many people are claiming to be O-C-D about cleanliness.Â I blame Howie Mandel.Â He almost made it cool to be a germaphobe.Â And, now, people expect perfection from a home they are contemplating buying.Â
Floorplan didn't work for this buyer
Probably the most over-used phrase in buyer's agent feedback.Â Floorplan is the number one reason why a prospective buyer won't consider buying a home.Â But, what so many buyers don't understand is that if their agent would give more detail on what about the floorplan didn't work for them, the sellers may be able to help overcome that objection.Â
House seems overpriced
Agents are listing homes all over the place - just like they are all rookies again.Â Why?Â Because they feel they need to in order to rebuild their business after the recession.Â 2010 has been all about rebuilding, and even the strongest of real estate businesses took big hits between Summer 2008 and Summer 2009.Â Agents are being encouraged to take whatever listings they can find and 'list to last'.Â We've all heard it.Â But, pricing a home that is outside of your primary geographic area of expertise can put you in a position where you inadvertently take a listing that is priced too high.Â Pricing strategies have to be redefined every 60-90 days right now.Â The appraisers won't likely look beyond 90 days to try to find available sale comparatives.Â There is a strong chance that even though an agent can sell a home at a price, the home may not fully appraise, which opens up a can of worms for the transaction just days from closing.
The price is too high, the buyer doesn't like the amenities, and the floorplan is not what the buyers want
Yikes!Â As a seller, the first response has got to be 'why did the buyer's agent bring them to my house if it is so off-the-mark from what the buyers want to purchase?'Â Only two answers there:Â 1.Â The buyer's agent is a terrible buyer's agent.Â You should never take a client to a home that is so blatantly not whatÂ the buyers want to purchase.Â But, lots of agents get out to show homes before they really know what their client's want to buy.Â They get to know them on the tour.Â This can be avoidedÂ by asking more questions before the initial home tour and conducting a full buyer interview.Â 2.Â The buyer's agent is peacocking.Â Ever hear the phrase 'me thinks he doth protest too much'?Â A long string of objections can simply be aÂ ploy by the buyer's agent to unsettle the owners and prepare them for an offer that is under their list price.Â It makes owners angry.Â It can cause owners to pick up the phone and vent at their listing agent.Â And, it can turn off the owner from wanting to have any part of dealing with that agent or their client.Â It creates a situation that the listing agent has to diffuse.Â Â
There is a right way to give showing feedback.Â Give very specific feedback about what doesn't make the home a 100% match.Â Include what level ofÂ interest the buyers have in the home.Â Include a positive comment about the house, if you saw something in the home that you think was unique to the home.Â Thank the owners for allowing the showing.Â TheyÂ burn out easily on having strangers in their home.Â Be considerate and turn off all lights and lock all doors.Â Leave a business card.Â Give feedback within 24-hours of theÂ showing.Â And, encourage a dialogue with the listing agent if there is something that you feel can be done to overcome whatever objection the buyer's may have to making each home on the tour the #1Â home.Â How often does the buyer purchase the home that is 100% what they asked for?Â Not often.Â They sacrifice a little here and thereÂ in exchange for aÂ better overall value.Â If there were a 100% match out there for every buyer and every seller, then this job would be simple.Â
Have a blessed day.
Prosper Resident Realtor
Certified Purchasing Manager - C.P.M.
Short Sale and Foreclosure Resource - SFR
Texas Affordable Housing Specialist - TAHS
CEO of comingsoonhomes.com since 2005
Activerain.com #1 Realtor in Prosper, TX and Top 150 in Texas (2010)
RE/MAX Dallas Suburbs #1 OfficeÂ for RE/MAX in theÂ North Texas region 2009 and first half 2010!