Home Selling in Sayreville>Question Details

Cindys, Home Seller in Sayreville, NJ

How many showing in 1 month?

Asked by Cindys, Sayreville, NJ Sun Aug 31, 2008

My home has been on the marker for 28 days(sayreville nj.). With open house included the total number of people who have viewed my house is 6 at the most. Is it the market,or the agent. ?

Help the community by answering this question:


Interesting question: the market or the agent?

You might want to do a little research. Most answers I give contain statements, however I have some questions for you to find out about first:
1. When you met with your Realtor, what expectations did you agree about?
2. When you looked at the listings currently on the market (your competition), did you discuss their characterisitcs?
3. When you discussed the marketing plan, usually results are part of the discussion. What did you anticipate happening from the marketing efforts?
4. What will happen if those expectations are not met?

Here is what would happen if you were my client.
1. When we discuss listing the home, we evaluate what needs to be done to bring out the best features...usually that means:
cleaning, painting, deculttering, and staging.
2. We discuss the objectives to be achieved in the sale:
Timetable, desired net after close of escrow, accessibility (how to show the property)?
3. Based on the seller's willingness, time, and resources to bring the property to maximum quality and value
4. We discuss the primary competing properties and how the seller's home stacks up

Selling a home is more like a game of chess than poker. My job is to help the seller maximize the profit at closing, so in addition to these activities listed above, I discuss our expectations:
a) IN most markets, we expect 10-12 showings or one offer in the first two weeks on the market
b) if we don't see that activity, then a price reduction is in order
c) Our goal is to get sold in 30 days. Statistics show that homes that sell in the first 30 days sell closest to asking price. At 30 days the sellling price versus the list price is 98.6%m versus 120 days 93.6%..andthat would be AFTER a few price reductions.

Remember what you parents said...you only have one chance to make a first impression?

So proper preparation for sale, combined with watching how the competition reacts to the sale, are key. My clients get weekly market updates. We discuss homes that lower prices, add buyer incentivies, etc. If there are any questions I encourage the sellers to look at these properties representing their primary competition.

For example, I had a listing, price at $599K. ten days into the listing we had another home just down the street, nicer, bigger, come on the market at $596K, so we lowered immediately to $569K, went into escrow two weeks later. So a lot of what you do is based on the market activity---which you have no control over.

Good luck
0 votes Thank Flag Link Sun Aug 31, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
CIndy - The market is slow in some areas. Sayreville is a little slower then some of the surrounding towns. To spark the showings you want you may need to get a little more competitive in pricing. It also depends upon what your agent and copmany behind that agent is doing to get your home in as many hands and faces of buyers.

August through mid - October is the "second half" of the market so you should be seeing some showings, if this continues drop the price.
0 votes Thank Flag Link Mon Sep 1, 2008
Cindys: Probably a bit of the market and the price. The agent can only expose the property to the market. If things are REALLY slow, the exposure will have little impact, don't you agree? If the market in your area is ok or just so-so, then you have to look at price. Usually, I try for 2-3 showings a week. The ONLY people who will make up this volume are those who feel that the listed price is somewhat within reason. Few showings=unreasonable price. Hope for an offer every 10 showings or, once again, price vs. value would seem to be off.

Finally, August is not the busiest time of the year. However, from mid September to Thanksgiving is a mini spring market. I' go over your pricing versus the competition and against recent sales with your agent. He/she should be able to tell you exactly what the prospects for your property are. You should also ask what repairs and improvement you might make to increase you competiveness that at the same time will not break your bank.
0 votes Thank Flag Link Mon Sep 1, 2008
Ask your realtor/agent to give you the average DOM (days on the market) for your area...that way you can determine if your home has been on the market longer than others like it. It's likely that the dom for your area is much longer than 28 days. Then, talk to your realtor about this and try to come up with a better plan to get more traffic.

Jill Aylwin
0 votes Thank Flag Link Sun Aug 31, 2008
H Cindy,
There were a few good answers here already. As with any major transaction there are a number of factors that have to be looked at. One thing that is key is communication your agent should be providing you on a weekly or at least every 10 days as to what is going on in the market. Keeping you informed of the activity, new listings, price adjustments, under contracts. Only with that information can you judge if the activity is sufficient for the market.
If your agent has not kept you informed than you should request an update and have them present all the information to you. You might need a price adjustment and your agent might be afraid to ask you for it.
Now the other side of the coin is that you might need to do some things to help sell your house. You might have unrealistic expectations. None of us, the agents or the sellers have a crystal ball nor do we control the market. We can only take the information that is current and use it to make intelligent decisions based on what is happening.
I hope this helps. Good luck.
0 votes Thank Flag Link Sun Aug 31, 2008

Be patient.........to put a comprehensive marketing plan into operation can take more then a month. The fact that you have had activity is encouraging.

What has the feedback been from those people that have viewed your home? Has your agent done a "caravan" for other agents to preview the home.....what were their thoughts? Since approx. 90% of all buyers use the internet, where is your property being seen on the web?

In a perfect world....the price is right, the home is perfect, and the location is ideal, etc. .......six showing could be enough to sell it. The blame, if this is what you seek, could be more than the market or the agent........
Identifying and accepting these factors may make the difference in your selling time.

Good luck,
The "Eckler Team"
0 votes Thank Flag Link Sun Aug 31, 2008
Hi Cindys, It is likely the market. After a month, you have enough exposure and activities to sit down with your agent and review progress to date. One responder mentioned photos - do be sure that you have good quality and a good quantity of photos accompanying your listing on the MLS and other sites. And be sure that your property is listed as broadly as possible on line. That said, no amount of exposure cures a pricing problem, so take a step back and evaluate your pricing.

Remember that a lack of showings, repeat visits, and offers are an indication that the pricing needs to be adjusted. School is back in session in a matter of days -- if you want to hold off on a price adjustment, then wait no more than a couple of weeks - and then if there is no change, reposition your pricing.

My formula for success in selling homes: Smart Market Pricing + Maximum Exposure + Effort = Success. Get that right and you will do just fine.

Good luck to you.

Jeannie Feenick
Search and connect at http://www.feenick.com
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Sun Aug 31, 2008
There are many factors, price, pictures, curb appeal, lending, time of year prior to school starting not much happens.
http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sun Aug 31, 2008
It could be a number of things. I am sure the agent wants the home sold, and the market is not that great right now. I have seen home sellers reducing their price so they can make it highly competitive
0 votes Thank Flag Link Sun Aug 31, 2008
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