I've had a home for Sale going on 9 months. Need advice

Kevin Sanborn
Home Seller
68046

We started way to high based on advice from the old agent. We switched agents 2 months ago and feel we are priced correctly. (Under what we have an appraisel for). It is a multi-level so we hear it has to many stairs. Most everything has been redone and updated. (Siding, windows, roof, doors, air, sprinkler system, fence) On my report from my agent we got 20 hits in june and 20 in july. We have had 4 showings. Any advice is helpful

Answers (5)
Keith Sorem
Agent
Glendale, CA

kevin
The rule of thumb is 10-12 showings in the first two weeks on the market. You sound over-priced to me.

The real question is what is happening in your market. How many homes, like yours, have sold since your home it the market.?

The other rule of thumb is 10-12 showings should produce an offer, No showings, reduce the price. Now offers, reduce the price. Market time is going to cause people to make low offers, time is of the essence.

Thu Jul 31 2008, 15:22
Lee Collins
Agent
85242

As the two professionals have already mentioned it is figuring out what makes your house different and better as well as incentives. There are some other great incentives that have to do with financing. One is a program called a 2-1 buydown. This allows you “the seller” to credit money towards the buyer’s loan and gives them a lower rate the first two years.

For example if a 30 year fixed is 6.5%, this loan would make it 4.5% the 1st year and 5.5% the 2nd year and 6.5 for the rest of the 28 years. This is a great loan for new buyers with no surprises.

Thu Jul 31 2008, 12:15
Linda Sticklin
Stager
Berwyn, PA

After being correctly priced, your house needs to look better than its competition. Most buyers start their search online by looking at photos posted on the MLS. Sounds like you are having difficulty getting potential buyers in the door. Could it be that they don't like what they see online? Make sure the photos show your house in the best possible condition and that you have addressed curb appeal as well. You commented on updating many exterior components of the house. What about the interior? Most buyers want a house that is move in ready and will not require alot of cosmetic fixes. It may be worth consulting a local stager in your area to give you specific recommendations about ways to improve the appearance of your home. Best of luck!

Thu Jul 31 2008, 12:13
Larry Story
Broker
Greensboro, NC

Kevin not knowing the listing or the price range kind of puts us at a disadvantage. The only suggestion I have is that you may consider some type of buyer incentives. If the home is not new then a home warranty. Some can even be put in effect and you not be charged until closing. Some other thoughts are maybe money towards closing costs. If you do any incentives direct them toward the buyer.

Hope this helps,

Thu Jul 31 2008, 11:38
Sheri & Abe Aru...
Agent
Staten Island, NY
FIRST ANSWER

Sound like you are doing everything right. This is a crazy market. Is there anything special about your home? By the beach, a historical area? etc, ask your agent to try marketing to a that specific market. Good Luck!

Thu Jul 31 2008, 11:24

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