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.
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.
Residential and Commercial Real Estate
Mark Lee Team
RE/MAX Acclaimed Realty
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
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.
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.
Better Choice Realty, LLC
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,
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!
Send me a link, and I'll respond asap.
The Designer's Eye
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,
Tina Hyatt, Owner/Realtor
Exit Results Realty
Offices in Columbia & BWI Area