Home Selling in 21237>Question Details

Tony, Home Seller in 21237

Had 6 appts in 9 weeks no offers. should we try open house my agent says no what do you think?

Asked by Tony, 21237 Sun Oct 30, 2011

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Tony,

I agree, feedback is so important. I also happen to think that open houses are great. If you hold one at this point, it is not likely that you'll get a ton a new traffic, but you can set it up so that the people who do come through the property are requested to leave their thoughts. There is certainly a reason why there has been no offers. It is partly because of the saturation of the market. If they are looking at your house, there are probably a dozen others they are looking at as well. You have to figure out how your house compares to those others. In addition to maybe dropping the sales price, you might want to consider staging the house or offering an incentive like a home warranty or something like that.

Happy selling!

Edith Chandler
ExecuHome Realty
443-731-6257 cell
443-632-3000 office
Web Reference: http://www.execuhome.com
0 votes Thank Flag Link Sun Oct 30, 2011
Statistically, the number of houses that are sold by an open house is quite low. However, some would say that holding an open house is ensuring that no stone is left unturned.

It would appear that the marketing is working well enough that it has caused six buyers to contact their agents to look at the property. However, if the house and price were in line with each other, you should have seen an offer in two months and a week. As Scott mentions, what kind of feedback are you receiving? Homes that are priced correctly (read: not overpriced) and that show well (appeals to the market, move-in ready, etc.) will sell fairly quickly, even in this market. Don't let the media and popular "wisdom" fool you; there are plenty of buyers out there, and most/many are obtaining financing with few issues.

Selling real estate at anytime has always been a pricing war and a beauty contest, so if your price is too high and/or your house doesn't show well, it will simply take much longer to find that right buyer who wants your house. There are SO many homes on the market that the buyers can afford to be choosy. You have to ask yourself why would they fall in love with your home if, hypothetically speaking, it doesn't look good or is overpriced. A lot of real estate for owner occupants (non-investors) gets sold because the buyers fall in love with the home. Additionally, I have found that even when buyers see homes that show well (but are overpriced), they will often wait until the property has sat on the market for a bit, for they feel that the sellers are not realistic about their price and don't want to bother submitting an offer that they feel will be met with a counteroffer that is not correct for the market.

Good luck!

Regards,

Mark
__________________________
Mark Lee
Residential and Commercial Real Estate

Mark Lee Team
RE/MAX Acclaimed Realty

c: 410-375-6114
o: 410-561-0055
2 votes Thank Flag Link Sun Oct 30, 2011
Tony,

Normally I would agree open houses do not sell homes, However I have a listing that was on the market forever and I did an open house a guy came in and decided to buy it. His agent was from Virginia and who knows when he would have got around to showing him properties. On Your agents side I have done several other open houses and I got buyers but not for the property I held open. Majority of the time Open houses are great for the agent to pick up buyers but seldom will it sell the house
1 vote Thank Flag Link Sun Oct 30, 2011
Tony,
The problem is, if an agent doesn't want to do an open house, but does one anyway, I doubt they will do a good job. I use open houses as part of my marketing plan. I've found it helpful in selling my listings, but sometimes I'm helping the buyer who already has an agent. That's okay with me, as long as my lisitng gets sold.
If the agent will do a good job, advertise it early, have a sign in, plenty of flyers and actively engage everyone who comes in, it might help.
Chances are however, with the lack of activity something else is wrong. It could be the marketing, the curb appeal, the staging, the homes availablility to be shown or the price. If it's one of these, all the open houses in the world won't help.
1 vote Thank Flag Link Sun Oct 30, 2011
Tony,

This is a very tough market and not the best time of year to sell. You are getting showings which is a good thing. However, sometimes when you get showings and no offers, then your pricing could be construed as high to the buyer pool. Have you gone over recent sales in your community with your agent to stay abreast of the pricing and sales? That is very important to do.

Secondly, with this being a colder time of year, Open Houses, in my opinion are not very productive for sellers. You will work yourself to death making your home perfect for the open and not too many people are going out for Open Houses this time of year. I held two recently and had no visitors. I advertised them well but again, people are more interested in football and family gatherings in the fall, not Open Houses. So, I agree with your agent about this.

Have you had your home staged? Staging is a key aspect in the selling market today. I am a certified home stager and I would love to give you some advice if you would like it. I do charge for my staging services, but most sellers agree that it is a nominal fee to get a sucessful result. I stage for other agent's listings as well as my own. Staging and extreme cleanliness, proper pricing and proper marketing are all important aspects of selling in today's market.

Good luck and feel free to call me if you would like to set up an appointment with me for some staging advice.

Tina Beasley
Broker
Better Choice Realty, LLC
443-619-6080 Direct
0 votes Thank Flag Link Mon Oct 31, 2011
Schedule a time to sit down with your agent. If you aren't getting traffic you may be overpriced. Have you agent pull the market stats to see what has actually closed in the last 90 days in your area. There are only 2 reasons for no showings - Bad pictures or Over Priced!
0 votes Thank Flag Link Mon Oct 31, 2011
That is hard to say, you are paying your agent a lot of money so you should follow his or her advice on these matters, unless of course you feel as though this person is not properly representing you. How much activity is the marketing generating? I know you have had a half dozen through the door but how many people are looking at it online? What is the agent saying about the matter? Are you truly listening or only hearing what you want to hear? Selling a home in this market is not an easy thing to do and I appreciate the position you are in I also understand how easy it is to be focused so much on what we need or want, that we don't hear what is being said to us. Often times when this happens we start looking for reasons to justify why we are not getting the result we want all the while ignoring what is right in front of us. I have a rule regarding open houses, unless the property is staged well, in a good location and priced at or below market value I will not hold it open. You must have all three if the goal is to sell the home at the open house. Take an objective walk through your property from the curb all the way through! Look at every detail, I have done this with folks who were surprised when I pointed out a lot of things that they have just become used to or try to rationalize off as no big deal "oh that's always been like that, it's no big deal" Well it is a big deal at least to the person you are expecting to buy your home and I can tell you with certainty that if you want to sell in this market you need to account for all these no big deals. Good luck!!!
0 votes Thank Flag Link Mon Oct 31, 2011
Hello Tony,

Without more information as to how your home shows, how it's priced and the feedback from previous showings it's difficult to advise as to whether or not open houses will be helpful but as previously mentioned every effort counts in this market. The open house will need to be advertised and promoted much like your listing. Other considerations are the weather and perhaps whether you should hold the house open on a Sat instead of Sun to accommodate football fans who don't go to open houses on Sundays.

Wishing you the best,
Nishika Jones
0 votes Thank Flag Link Mon Oct 31, 2011
Tony,

Your agent has to use every tool out their. Open houses sell houses. Statistically they are low but I have sold 5 houses from open houses since April 2010. (All had agents but were out looking on their own). Make sure that the open house is posted everywhere! Websites and yes, the newspaper!
Good luck!
Web Reference: http://www.FrankDolski.com
0 votes Thank Flag Link Mon Oct 31, 2011
Hi Tony, I provide home staging services. What's the link to your home listing? Perhaps I can give you some suggestions on how to make the features in your home more prominent, or create features where there are none.
Send me a link, and I'll respond asap.

Good luck!

Shawn Barghout,
The Designer's Eye
shawn@thedesignerseye.com
0 votes Thank Flag Link Sun Oct 30, 2011
A house doesn't sell for 2 reasons: 1) ugly house, or 2) ugly price/terms. The fact that you had 6 appointments strongly indicates that your property looks nice enough, so. . . .
0 votes Thank Flag Link Sun Oct 30, 2011
Hey Tony,

I see you're still hammering it out with your home; though this time around your showings have increased....still no contract? What's the list price? What type and style home is it? Detached? Rancher? Townhome? Interior Townhome? End unit? You could be overpriced and need some staging...more curb appeal, SOMETHING. I know, it's probably tiresome.....having all these showings and no contract. Talk to your Realtor. Worse comes to worse, talk to some of the Realtors who've answered your questions on this forum. We all love real estate and have given some great feedback. Hope something here helps. Your contract is coming. JUST KEEP SHOWING! (that's my I love selling houses voice) smile.

All the Best,
Marlene
0 votes Thank Flag Link Sun Oct 30, 2011
Hi Tony! I agree with Scott. Open houses do not sell homes. There are a few key factors that sell a home: 1. Price- be sure that it is listed at market value and not too high. Comparables are a great place to start. 2. Accessibility- is your home available to be shown at any time and is it on a sentrilock box? 3. Staging - how does your home look to prospective buyers? Is it clean, carpets freshly vacuumed, free if odors, clutter, over personalization, laundry, trash, etc. View your home as a buyer would, try to remove the emotion from your perspective. Also, a fresh coat of neutral paint and shampooed or new carpets work wonders!! Best of luck to you, I hope this helps!

Warmest,
Tina Hyatt, Owner/Realtor
Exit Results Realty
Offices in Columbia & BWI Area
http://www.EXiTResultsRealty.com
410.705.6296
0 votes Thank Flag Link Sun Oct 30, 2011
Tony it appears showings is not the problem, an open house will probabily not solve it. You need to check to see that the price you have it listed as, is indeed the market price and not overpirced. You then need feedback from teh showings you had, why no offers, is tehre a problem? does the home need repairs? your listing agent needs to find this out and solve it.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sun Oct 30, 2011
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