Our house is staged and clean and all the good things agents want in a seller - we only ask for a one hour notice to move out the pet, but will soon change for the better.
We are already on MLS, and some people who have answered this question have also answered our first question last month.
As for why I'm asking here, we just like to get new ideas and information. We have talked to our realtor, but you never know who has an idea out there that might help!
Thanks so much again. We think our realtor is really great, we just like to hear what others think and do. Her success is our success, after all!
The real question then becomes how does the agent that has listed my home market it. Since most buyers find homes on the interenet, that becomes a no-brainer where the listing agent should be advertising. E.g. Web sites and e-mails to agents. Depending on the market, the printed advertisement can still be effective. The one thing I do want when other agents show homes I have listed is there feedback - how there clients liked the home and what could be improved.
Agents in general "bring in other agents" through the MLS. In our area we also do email blitzes to agents informing them of homes that have just come on the market, have a price reduction or an open house. The internet is big, I believe 90% of all home buyers start their search on the internet. So great pictures, a virtual or video tour with lots of info on the home, its features, the neighborhood and surrounding area being on the web are very important. It is possible that some of these buyers that have come through your home saw it on line first and requested their agent to set an appointment. It is more likely the home met the criteria of the type of home they were looking for and their agent put it on the list of homes to show them.
Price and condition are also important factors that drive showing activity to a listing. It sounds like you have the condition down pat, I will have to trust that your agent strategically positioned you in the pricing game. Besides that, in most markets your on-line presence is a dominant factor on exposing your property to the largest amount of potential buyers.
Best of Luck
Generally by your listing agent putting the home in the MLS the information feeds out to many different websites like Realtor.com, the agents personal webpage and all the large brokerages nationwide accounts. If a buyer is looking online on their own, and they normally do, they should be able to find it. If when they find it it has a very long and excellent decription, lots of pictures and a virtual tour they will ask their agent to show it to them when they go out looking. I normally directly email or market to the top 30 agents in my city as we are the ones that seem to be moving the majority of the property. Normally we want to hear how well the home shows, how easy it is to show and how high the buyer side commission is. If those 3 things are ok and we have a buyer in that price range and looking in that area we will take them by. There are usually many hundreds of agents in an MLS area so the odds that someone other than the listing agent will bring a successful buyer is great. Its one against 500 or one against 1000 so you see why it seems most showings are completed by others. Price it right, offer a good buyer side commission and it will sell. Good luck.
"Price reduction is all about finding the next lower price point. I highly doubt that your recent $4k reduction did anything to help."
In most cases I would tend to agree with you. The benefit of a mild price drop though is the added exposure on the MLS. When you make a price change it rotates again on the front page for a few days right with the newly listed properties. Well for our mls it does anyways, in fact, the pending deal I have now came from a 4k price drop....now the one I've recently dropped 5k had a few more showings but no bite. Hard to say, generally the small price drops are for the seller to get them used to the idea "we need to go lower, keep going" lol
So many great suggestions here but I think you need to have a talk with your Realtor and discuss what are they doing and what more can be done. We do not know what avenues your Realtor has already taken.
That is worthless. It does nothing for a buyer looking to buy. When I see a house for $200k or $196k I see them as priced the same. I will drop my offer below that anyway. If you had a $20k trailer you dropped to $16k it would be significant. If your house was priced at $500k and dropped to $496k I would notice the reduction and decide you were not serious about dropping your price at all. If you dropped your price from $500k to $475k or better yet $450k I would notice it and maybe offer something.
Price reduction is all about finding the next lower price point. I highly doubt that your recent $4k reduction did anything to help.
In some instances, Seller's even offer a selling agent bonus in addition to the commission. This amount is paid directly to the agent. Agent's see the offer on MLS and are encouraged to bring prospects to your home
Another point, if you are not getting showings, you house is too highly priced. Price competitively is the name of the game.
I am sure that your agent is doing a great job for you.
Frank Dolski MBA, ABR, e-PRO
Coldwell Banker Hearthside Realtors-Lahaska, PA
Pricing is critical. Especially if you want a chance to sell before April 30. The bottom line is you can price it to where your property sells or you can price it to where it is stuck in the market. No matter how much we as realtors advertise a property if it is not priced competitively it will not sell. Think about it from a buyer's perspective. Which house would you buy when there are so many to choose from at great prices, especially zip code 87121? The house has to be perceived by the buyer as a good value and with a lot of competition you have to stand out from the rest in some way. Offer something of value to the buyer such as price, incentives, buying down loan points, seller assistance etc. Cooperating with other brokers is essential in selling property. I always advertise anywhere possible as well as market to my fellow realtors.
Lots of good advice!
1. Is your home staged?
2. Is your home totally decluttered like know one lives there?
3. Do you have appliances, etc, that would be expected at your price point?
4. Are your major rooms painted?
I am sure that your agent is doing a great job! Listen to him/her. Your home has to be in optimum condition with great online pictures, etc.
Frank Dolski MBA, ABR, e-PRO
Coldwell Banker Hearthside Realtors Lahaska, PA (near Philly)
2. Second, trust your agent and follow his/her advice; s/he is in this with you and very motivated to see your transadction come to a successful close.
The fact that you're getting lots of showings suggests your Agent is doing all the right things; the fact that agents who prevew your home with buyers are so impressed, suggests you have a lovely home and you and your agent have done a good job showcasing it.
I think it's extremely important to market to other companies. The stats show that while I may be the listing agent, I probably won't also be the selling agent. Because of that I need to be showing every agent in town the house I have. That's why I am a member of my local association, so I can show homes to other agents more easily.
I'm a little confused as to why you are not asking your agent this question because you should know, in great detail, exactly how your home is being marketed.
The #1 resource is the MLS. All agents have access to the MLS and this is where we go to find properties for our buyers.
These days, homes are also marketed on many different websites, including the one we are on right now.
Another way to advertise a home to local agents is to have a broker's open. Basically agents are invited (and usually enticed with food- apparently we like to eat) to come personally check out the property.
When we have a new listing in our office, we "caravan" that listing, meaning that we literally all get in our cars and go see it for ourselves at a particular time. This way, each agent in our office is familiar with all of the inhouse listings.
These days buyers do have tremendous access online to what is available so things have changed a bit. Buyers are not as dependent on agents for market knowledge as they use to be.
Please do yourself a favor and sit down with your agent and ask him/her exactly where your house is being marketed because obviously your agent can answer your question much better than anyone here.
The search for clients matching properties is done on the MLS with agents! They have a buying client and enter the data in which kind of property that client is searching for to make a match. Your home should be on at least 20 web sites across the country from using a realtor. Good luck with your real estate transaction!
A secondary method is marketing to other agents. There are a number of electronic flyer services that agents can use. Those services often offer different areas--like bands surrounding a bullseye--that the flyer can be sent to for a price. So your agent might send the flyer to every agent within a 10 mile radius of your property.
Related to that, some areas (such as the one I'm in) also offer a paper flyer service. In my area, we have two. Works pretty much the same way as an electronic flyer. The paper flyer is delivered to every agent in surrounding areas.
The advantage to marketing to other companies is that you greatly increase the number of agents who become aware of your property, and who may have a client looking for a property like yours. There's no disadvantage at all to the seller. To the listing agent, if another agent is involved in the transaction, the commission is split between the listing and buyer's agent. So the listing agent won't make as much. However, agents know that most sales occur with the help of a second agent--whether from the same firm or a different firm. So, it's not really much of a disadvantage. And an agent would much rather split a commission than not to have the home sell.
Congratulations on the good feedback. And it sounds as if your agent is doing a good job of marketing your home.
Hope that helps.
Often a great house sells itself, especially in a buyers' market such as this. It sounds like your house shows beautifully, so you should have no problem attracting buyers and getting it sold quickly - with the help of your agent.
Keller Williams Real Estate