Do you have a REALTOR or are you selling on your own?

Sun Jun 29 2008, 17:50

As a buyer currently looking, price is the number one on my list. There are so many homes on the market right now, that I don't care to waste my time if the price seems high.

There is a home that I love, that is exactly what we want, but the buyer is asking $341k, based on his real estate knowledge in California(hello - this is GA!), and in reality the house is worth $260-$280k. As a result, his home has been on the market a year. There are nearly 20 pics of the home on the MLS site, but the price is a huge turnoff (and it hasn't been updated since it was built in 1978). So the point I'm trying to make is that regardless of how many pictures, or how good, the price is the most important to me because it is a "buyer's market", so I'm looking for a good deal.

JMO though.

Fri Jun 27 2008, 12:53

I fully agree that internet marketing is essential. I advertise my listings on over 25 websites and is a critical part of marketing. Open houses can be successful at times. I have associates who have sold their listings to those who have come to an open house. I am currently waiting on an offer on one of my listings where an open house was held. If you have had only 1 viewing in 30 days, there is one of two factors occurring. One is condition of the property, which it does not sound it is, and price. The market will tell you if a house is priced correctly and the rule of thumb is if there is not 10 showings and/or one offer, be it good or bad, then you need to revisit the price.

As for agents buying a house. The price is usually negotiated at the beginning at the listing period and is greatly discounted. My personal opinion is to be most careful.

Wed Jun 25 2008, 17:43

Hi B.E.S.T,
I have found in todays market that internet exposure is critical for success in selling your home, over 80% of buyers are online looking at homes first. I advertise all my homes on over 40 diffent real estate web sites including my own. Feel free to browse the different sites such as Trulia.com to see for yourself.
You are doing the right thing by having your declutterted and painted, however; there are so many other variables that come into play: How old is the home? How old are the major systems ( roof, HVAC, etc)? How many homes currently on the market in your immediate area? Any forclosures near by? How did you come to the determination that your home is priced correctly? What are thestaistics for days on market, expireds, and solds in your neighborhood? Do you have the maximium number of photos on every web site? What about virtual tours?
It sounds from your question that you are not currently working with a Realtor, or if you are they are not in touch with todays market and what it takes to get you activity and showings.
I offer a no obligation market analysis of area current statistics, and a detailed home audit designed to show you how to make your home "pop" and bring you top dollar. Please feel free to call to discuss your specific needs further.
Have a Blessed day!
Carla Donaghy
404-457-3889

Fri May 30 2008, 22:13

If you are selling it yourself you have to ask are you getting the most exposure for your dollar? I would not worry about Open Houses, which are a waste of time for the most part, I would worry about getting, like Bob said more pictures, but doing it online. Get that house on the internet. If you need to get more exposure than that you need to put it with a REALTOR. Like it or not, all FSBO's, buyers call REALTORS. REALTORS are the gate keepers. In a society of "buyer beware" most people feel more comfortable buying when they are represented. If you get your back up against a wall you need to list it with a reputable company. Also, sure, if an agent wants to buy your house let them. I would negotiate with them like I would anyone else. Only you know what you would take for your house. Never tell anyone your bottom line.

Fri May 16 2008, 07:25

I would agree with most of the other agents that have responded. PICTURES and MORE PICTURES are key to getting showings. The price has to be right in today's market. I would suggest you take a half a day viewing other homes in your market that you compete with. Your agent should be able to arrange that for you. It can be an eye opening experience for many sellers. 30 days is not long, by the way, in todays market, but in the mean time, look at your listing on line and see how it appears. Check out your competion!

Thu Apr 17 2008, 09:18

J,

Everybody here makes good points. Number 1 is to be listed with a good agent. Not the cheapest you could find, as they typically do not do what it takes to make your home visible. Number 2 is to be priced right, arguably number 1, but if you have a good agent then you should be priced correctly. But yes, if you're not getting showings, then it's the price. One thing to check - do you have photos on the listing services? I know that I don't show homes without photos unless I run out of all the others first....

One trick I like to use is to get other agents and homeowners involved in doing a neighborhood-wide open house / garage sale day. Gets traffic in and allows the agent to talk to other agents to see what's going on. I try to communicate with other agents anyway, but not all agents do. If your agent doesn't seem interested in this tactic, organize it yourself. Usually just takes contacting 1 or 2 other realtors in your neighborhood to get the ball rolling.

I saw Judy already offered, but I'd be happy to look at your listing and forward a copy to you, as well as pull a recent market analysis on your home to double-check your current pricing. Prices change regularly around here, so an analysis from 6 months ago won't cut it.

Hope this helps.

Thu Apr 17 2008, 09:13

I know traffic is lower than in years past, but I, as a buyer love open houses. I don't want to commit to any buyers agent yet since I'm not on a timeline and am looking for that one house that fits me. This makes open houses much more apealing than having to call listing agents and run all over town. I understand that they aren't as good as they used to be, but don't count out open houses.
BTW. If you do an open house, get the word out, The local paper here will publish a list; if your paper does too, make sure your on it.

Thu Apr 17 2008, 04:52

Many of the other answers here have very valid points. You need to have the best house at the most aggressive price, and of course your agent needs to be marketing your home in every way possible. But sometimes the answer is as simple as a mistake has been made regarding your property. I can't tell you how many times I've seen a home marketed in the wrong area. Your 30045 zip is in the city limits of Lawrenceville. Did you know that Gwinnett is divided into 6 areas in the multi-list systems? Four of those areas come together in a point in downtown Lawrenceville. So, if you live off New Hope Rd, which is area 66, but your agent made a mistake and put your house in area 64 (hwy 29, Five Forks, etc) then you may see a substantial difference in the number of showings. Or perhaps the schools are listed incorrectly. Most buyers ask for a certain style of house, in a price range, in a specific area. For example, I want a 3 BR 2BA in Simonton ES in the $145-$160,000 price range. If any of these categories in your listing have a mistake in them, then they won't show up in the agent's search. Obviously if your home isn't coming up, then it won't be shown.
Send me your address and I'll be happy to review your listing with you, or feel free to visit my website (www.KennyEverson.com) where you can search for your house and review your listing on your own. Perhaps the answer to your problem is simply a typo.

Good Luck

Wed Apr 16 2008, 20:11

Hello,

Price is 80% of your marketing in a Buyer's Market. Of course, you do have to have a strong internet presence. Outside of that, I would say that it is crucial that you have hired a Realtor that is not sitting back in his easy chair with the sign in the yard waiting on the phone to ring....those days are LOOOOOOONNNNGGGG gone! They have to be on the phone, in front of people, making contacts in anyway they can. never meet a stranger is what I say, and always ask....Do you know of anyone that is looking to buy or sell a home?

There is an old saying out there I heard somewhere.......If your property has been on the market for 30 days and you haven't had 10 showings, your overpriced, and if you have had 10 showings and not the first offer, your overpriced. The market dictates the price unfortunately.

I hope that helps you out in some way!

Make it a GREAT day!

Wed Apr 16 2008, 18:04

Hello,
Is your house listed with an agent? One of the most important things you can do to get people to come to your house is to make sure the listing is showcased, enhanced and featured in every possible way on the internet. That's where most people begin their home search. How it looks online will determine if people want to come and see it......it has to look great with lots of pictures, lots of text, a virtual tour and it has to appear at or near the top of someones search. For example, when you search within a city or zipcode and within a price range on realtor .com, ajchomefineder.com or trulia.com your listing will be among many....sometimes hundreds. You want yours to be as close to the top of those lists as possible with more text and better pictures than most. Most Realtors don't spend the money to give your listing maximum exposure as I just described. The purpose of your listing is to get people to want to see more so they need to be impressed right from the start. Some agents are really good at making your listings look great and others are not so good. Check out your listing on those websites and see how easy or hard it is to find yours and how they compare to the first few that your see.

If your agent has in fact done a good job of the above and after another week or so you still are not getting showings, you may want to consider rethinking your price.

If you are willing to tell me your address or listing number, I will be glad to take a look at how it looks online and give you some feedback or suggestions. There are alot of houses on the market in Lawrenceville so your house really needs to stand out.

Open Houses are hit and miss and usually are of more benefit to a realtor finding potential buyers for other houses than for finding a buyer for yours, Last week was Spring Break which slowed things down a little so I would take that into consideration too.

Hope that's helpful....let me know if I can help.

Judy Wittenberg

Wed Apr 16 2008, 17:36

In this market price is the driving force. With competition against so many foreclosures you absolutely must price your house in comparison to the foreclosures. If I can buy a house similar to yours in your neighborhood or a nearby neighborhood at a lot lower price (because of foreclosure) why would I buy yours? I wouldn't.

Ms. Carney is right, this is hard to hear, but if you NEED to sell your home then you MUST hear and listen to this advice.

As to agent's buying home: I will assume you either signed or are considering signing one of those "We will buy your home if we don't sell it" deals. Usually the agent making the guarantee wil do so ONLY if they KNOW they can sell the home later and the only way to KNOW that will happen is to purchase the home from you at a GREAT price. GREAT PRICES are usually 70%-80% of true market value.

Use an agent who is willing to tell you the truth.

If you are currently listed with another agent then please do not conider this a solicitation. If you are not currently listed then give me a call., You can find my contact information at my web site:.

Wed Apr 16 2008, 17:33

Your best bet to drive traffic to your home is to have your home listed on MLS with a full-time Realtor who can truly service your listing. As for open houses, I do them, and we get generally one sale per ever 50-100 people through the home. I do them more because my sellers want them. New construction is the exception, because I do get offers on my new home listings from open houses, mainly because I have more traffic due to traffic through the new subdivisions. An agent who purchases your home will generally offer you a fair market offer for your home, if you buy another listing from them. Talk to your agent about their marketing program, and about market conditions. Your agent doesn't get paid until you do, and probably has a full-spectrum marketing program for your home. In most markets, at this time, we are in a "buyer's market" though that is expected to change in most markets over the next 6 months to a year. Traffic always is heavier in a seller's market. Is there a high inventory in your area? If so, make sure your home is priced properly so that it will stand up well to the comparison shopping all buyers perform, and stay in communication frequently with your agent. Always keep your home ready to show. I have found that, even in "buyer's markets" homes that are properly priced, compared with the competition, sell within a reasonable market time.

Wed Apr 16 2008, 17:29

J -

I don't know where B.E.S.T. is, but in most markets what drives people through the door is 1. seeing your home online with great pictures and 2. perceiving that the value of your home is good. It is a price driven market, so if you have your house listed with a Realtor and they have it in MLS with good pictures (ask to see your house as it appears on MLS) then it must be the price. I know this is difficult to hear, but it is really the truth. Talk to your Realtor and ask them for more marketing ideas. Open houses are still a great way to get exposure and feedback from buyers. There are now so many homes available to see, the ones that are open and convenient will be seen more often. I hope this helps!

Wed Apr 16 2008, 17:20