Your agent should have shown you the data up front. It is easily attainable. In fact theres so much data available we can show you how many have sold in your area, in your price range, average days on market, how many are on the market currently, an on and on....
As far as open houses not working - what has worked so far? Are you willing to take a few hours to find out? Lets say you don't get a buyer walking through - but someone who did see your home, tells someone he/she knows is looking about this great home in Summerhill.... get the picture?
Don't just hang a sign & call it an open house, let your neighbors know, let them tell their friends... maybe they have family that wants to move to your neigborhood. Maybe theres someone in your subdivision who is currently renting - and would like to become a homeowner but not have to change schools, etc.
The possibilities are only limited by your imagination. Get creative, get enthusiastic, get the ball rolling!!!
Good luck! Contact me if you need further assistance, email@example.com
From your profile I tend to think you are a FSBO. If this is the case - your problem may be more than price. If I am incorrect then you need a new strategy conference with your agent.
Zero traffic technically means - you aren't on the market yet. You haven't hit the radar screen. You are wilting on the vine & nobody knows you are ready to pick.... Can I find any other analogies?
Please - if you don't already have it - get professional representation. If you do have representation - the war room is open. Get the word out - open house, caravan, whatever it takes.
Patrick hit it on the head - Location, Condition, Price - and might I add: EXPOSURE
I agree with Joshua. Make sure you are priced correctly to comps.
The three rules of Real Estate are.
Location, Condition, Price.
One thing I really believe about your situation.
You could not of had worse timing.
In the last three weeks, every time you turn on the cable. There is a talking head Interviewing
Chicken Little" The Sky is Falling"
If you read the newspaper.
"No one will ever get a home loan again! "
"This is the worst housing slowdown since the Caveman".
One major Commentator was calling it " Armageddon"
Now we all sit and wait for the Fed, to cut rates.
Maybe they will, maybe they wont.
Most probably they will cut rates.
Then we will start seeing more banks offering a variety of loans.
I have seen Country Wide & Bank of America, run a few ads , looking for new business in the last few days. Of course George has started FHA Secure.
Relax, see what the market looks like at the end of September. We need to give the media time to turn around.
I'm available until 7 pm today if you're interested in solving this issue.
1. Open houses - have not worked well in the Atlanta market for a couple of years. Most agents doing open houses are just doing so to appease their home seller. Some are doing it for future seller leads.
2. AGENT CARAVANS - much better idea. Gets agents to come by the home and preview it. Agents have to be bribed to do this. You will need to do a pretty good catered lunch (figure $15.00 a head) or give out something tangible (bottle of wine, gift cards) to get them to drop in. Don;t expect more than 20 agents to stop in. DO ask them to fill out a questionaire with feedback about the home.
3. SEPTEMBER AND OCTOBER traffic was slow in my market (Emory and CDC neighborhoods). We sold a bunch of houses this year (76 so far) but most of the action was April to August. We are still selling one a week but the foot traffic has dropped way low.
4. INTERNET - still happening. Internet traffic is heavy on our websites. I guess the government shutdown has given people more time to look. Lots of tire kickers but fewer phone calls and texts than normal.
5. PRICING - the advice you have already been given about taking a hard look at the recently sold homes in your neighborhood is on target. MAKE SURE YOU ARE PRICED CORRECTLY.
6. CURB APPEAL - if your home does not look GREAT from the curb - fix it.
7. PHOTOS - If your REALTOR took a crappy photo of your home - fix it. Hire a professional photographer - who specializes in photographing houses (not portraits) to get some good shots of your home with a wide angle HD lens. See link reference below for example.
Realty Associates of Atlanta LLC
Well, all of these answers are good ones, but as I've advised before in other Q&A - your sales problem is about the balance between price, terms and time.
Close to 90% of the time, a lockbox showing from a Buyer's agent with a pre-qualified buyer is going to be the cause of a sold listing. They are attracted because of price and terms (condition is part of terms...).
You can get creative with the 10% OF THE MARKET who might buy your property because they found it on Craig's List or Postlets or because one of your neighbors called a friend, or because an "unrepresented buyer" drove by and picked up a flyer...however, it's the 90% that will get you the best chance of obtaining the fast the result that you seek.
So, my favorite listing in Summerhill was overpriced by another agent by over $50,000 for 11 months on the market. I showed the seller the real numbers in Summerhill, and I required her to spend nearly $8,000 on the property in landscaping, interior clean up and a new sidewalk, before we put the sign in the yard. My Terry Street listing sold in 40 days.
Michael Lewis from Atlanta Intown represented the buyer and his client promptly painted the house a cool pink. It's my favorite house over there now.
SJP Properties is not getting very good service from their real estate agent.
I suggest that you speak to your real estate professional about the feasibility of hosting an agent open house. You would be surprised at the good turnout and candid feedback that you can get from agents previewing homes during a caravan (especially if there is food and door prizes involved). I've never been a big fan of public open houses although I know that there are many agents out there that have had reasonable success with them. Proper planning, preparation and advertising for the event hold the key to successful results. There is one agent in my office who likes to host a hot dog social as a way to draw in the public. She even has a hot dog-in-a-bun costume that she pays a kid to stand on the street corner the day of the event to drive traffic to the open house. If there are other homes for sale in the same neighborhood, your agent may want to consider sharing the cost and effort to host a neighborhood or multi-home open house with other listing agents in the area. Best wishes for more traffic - Ted
The market is flooded with homes for sale! If you want to sell today then I will tell you what I told my most recent client. In order to sell your home in a resonable amount of time in today's market you must have the best home, for the best price, in the best condition for your area.
If you don't have an agent yet get one. It's hard enough to sell a home now with an agent, and without one?? As Tony Soprano would say Forgettabout-it ! It's tough out there and you need every advantage you can get.
If you can get out and look at some properties for sale in your area and see how they compare to yours. Most importantly check the new developments and see how their homes are priced and what kind of incentive programs they are offering. It's tough to measure up to new homes that are warrantied, upgraded, paying closing costs, and discounted.
I wish you the best of luck selling your home. If you need some assistance feel free to contact me.
If you are a For Sale by Owner, it just takes time. If you are listed with an agent then you are probably overpriced. If a home never gets shown then the real estate professionals say it's too high. if your home gets shown alot but no offers, then the buyers are saying it's too high. In this market you have to be in the top 1/3 of fabulous homes with your presentation but in the bottom 1/3 of the price. Right Michelle?:-)
You might need to take a look at the price to make sure you are very competitive.