Home Selling in Erie>Question Details

Supertrooper…, Home Seller in Erie, PA

I havent gotten one offer on our home. After every showing, potentials say its beautiful. Our year is almost up...help!!

Asked by Supertrooper71, Erie, PA Mon Dec 26, 2011

Stuck on coventry...need to sell home. 2400 sf. Great neighborhood but no offers at all.

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Super....

There is always a reason...... The general rule of thumb to follow when selling property is:

If you are not getting showings.....lower the price

If you are getting showings but no offers.....lower the price

If you are getting offers but no sale......lower the price

This is fairly simple, very accurate but often difficult to accept......

Good luck,

Bill
0 votes Thank Flag Link Tue Dec 27, 2011
Hi Super... sorry that all the feedback is lower the price, I know that can be frustrating to a seller. When you say " the comps " ... are those Sold, Active or Under Contract comps? Active comps can be useless... it's very common for sellers to compare themselves favorably to other homes that are not selling.

If it is sold comps .. how recent are they? If they are recent... there is surely a reason. Is your agent a full service agent... do you know what they are offering as compensation to other agents etc? In regards to the feedback ... it's not often that buyers give the true reason they're not buying...i.e. they don't say there's a funny smell from the cooking, or that contemporary furniture looks terrible to them etc.

Or you may need to push your agent for more relevant feedback ....
1 vote Thank Flag Link Tue Dec 27, 2011
You might want to ask an accredited home stager to give you an opinion after your listing period is over. Then decide whether to make changes or keep the home as it is. A year is MUCH TOO LONG! No home should take that long to sell. You've already gotten some good advice here, though.
0 votes Thank Flag Link Wed Apr 18, 2012
Is your agent using channels outside just the MLS?
Did they make a youtube video?
Are you on postlets and also realbird?
0 votes Thank Flag Link Thu Dec 29, 2011
Everyone is giving me such great feedback! thank you for your time. I do need to clarify that:
~we do have a realtor through remax
~we are never present for showings
~our house is priced 10 k below comps
~there is nothing wrong with our home, never any problems
~neutral decor, no pets, turnkey
we are currently listed at 260k.
Please more feedback!
0 votes Thank Flag Link Tue Dec 27, 2011
Right now, it's all about PRICE PRICE PRICE. Lots of showings and no offers means the house is unfortunately overpriced. It stinks as a seller to hear that, but ... that's your #1 answer.
0 votes Thank Flag Link Tue Dec 27, 2011
Hi Super,
I hate to say this, but it's usually the price of the house when all other things are covered. Price your home 10-15% below all other comp homes and you should start to get some interest.
0 votes Thank Flag Link Tue Dec 27, 2011
What have you done to help the Realtor? Did you email everyone you know with a link to the listing and ask them to pass It on? Have you taken information flyers with you every place you go, grocery, drycleaners, church, etc.? Walk the neighborhood and talk to your neighbors? Yeah, I know, selling the home is what the Realtor is being paid to do, but are you trying to help? If you do not have a Realtor, that is probably the problem. Good luck,
0 votes Thank Flag Link Tue Dec 27, 2011
Supertrooper, what does one year have to do with this problem? I wonder if you're the listing agent and the contract is about to expire? If that's the case, I'd suggest chalking this up to a learning experience, and attempting to price more aggressively in the future.
0 votes Thank Flag Link Tue Dec 27, 2011
Hi Supertrooper,

You are overpriced. Have a local agent pull most recent sales and price your house accordingly. Most sellers think their home is worth more than it is. You are not alone, but when an agent shows you proof of what the homes are selling for she/he is not lying to you. He/she is the expert and you really should listen to what they are suggesting. The longer a home stays on the market, buyers start to question if there is something wrong with it.
Web Reference: http://ninaharrishomes.com
0 votes Thank Flag Link Tue Dec 27, 2011
Price solves most problems - or you can improve, but that is usually not a cost-effective remedy. Jolie is right in suggesting that if people are saying to your face how wonderful your home is, they may be just wanting to make you feel good and it may not be a true reflection of their own feelings. If they tell that to the agent, not you, then that could be another story.
0 votes Thank Flag Link Tue Dec 27, 2011
Supertrooper, It is quite likely you are overpriced but there are many other factors to consider. It sounds like you are usually at the showings? If that is so, of course people will tell you that it's beautiful as people usually do not want to hurt seller's feelings (also the more people in the house the smaller it seems). It's a better idea to decamp during open houses and showings (of course after securing all valuables and medications.) Also you might want to have a "broker" open house where you can get feedback from the pros in addition to more exposure. Another factor is if your home is cluttered or has many personal or religious or questionable objects around or even something like many dogs. Many agents, brokers and other design professionals offer free or charged staging help. It can be hard for a buyer to see themselves living in your home if it is very much "Yours". Another thing that many seller's overlook is yard and curb appeal. If you really want to know what people think of your home, hide some cameras and/or microphones or baby monitors and record their comments or listen while you are next door or in your car -(like they do on some of those home seling' tv shows) I'd love to know if this has been helpful-if so please give me a thumbs up or recommendation.
0 votes Thank Flag Link Tue Dec 27, 2011
It is not coincidence that we have had more OVERPRICING in the last few years, than we probably had in the first hundred!

The Seller has a preconceived notion of what their house is worth, and that is what it gets listed for. PERIOD!

Then, three to six months later, we see the PRICE REDUCED, slowly, in steps.
I coined the term; CHASING THE CURVE.
(Surely, I was the first to say this.)
Then, the potential Buyers start asking, WHAT'S WRONG WITH IT?
The damage is done; the DOM (days on the market) and the price reductions are there for all to see.

We are seeing a reduction in the DOM, in many areas, for agressively priced houses.

Good luck and may God bless
0 votes Thank Flag Link Mon Dec 26, 2011
Hello Supertrooper,
If you have had no offers after a year then you are overpriced.

I suggest that you have a local real estate agent go over a comparative market analysis to show you what similar homes to yours have recently sold for in your neighborhood and then price your home accordingly.

Good luck!

Laura Feghali
Prudential Connecticut Realty
0 votes Thank Flag Link Mon Dec 26, 2011
You've most likely priced your property too high.

Please send me some info on this property.
0 votes Thank Flag Link Mon Dec 26, 2011
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