Timmy, Home Seller in Staten Island, NY

My home's been on market for 5 months. Didn't accept several offers. Should I pull it off the market or just hold out?

Asked by Timmy, Staten Island, NY Mon Oct 14, 2013

Made several price reductions. Many looks & a few offers which after the fact were now higher than current asking price. Seems house is now stale & only gets 2 looks a week. No offers lately. I want to sell but not have to give it away. My agents have a just wait & see attitude. I want to get a deal now or wrap it up till later. What advice u have.

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Nancy Robinson’s answer
Have you defined: "give it away" for yourself? Sounds like you might be stuck on a price that is unrealistic for your home. And by the way, your Realtor may be getting some good leads from having your home listed and may enjoy the residual income from your home. Nothing like a good bait to catch more fish.
0 votes Thank Flag Link Thu Oct 17, 2013
Part of the problem has been that it's hard for buyers to get loans. If your house is getting 2 looks a week, that is pretty good. You have the right to take it off the market for a month and if the market is going up, you can put the price up a little; but it still is a buyer's market unfortunately. Grab that next offer and go with it and good luck. Selling a house is very emotional and I know it's hard on you.

Take care of yourself!,
0 votes Thank Flag Link Thu Oct 17, 2013
Go forward not backward. Get an opinionated realtor that isn't afraid to say no to you. Your realtor is a casino player. He's just hoping to hit it big with your listing. He is not providing a quality service. It takes two to tango, so I assume he was fully aware of what was going on. U need a realtor that has a following of buyers as customers & will steer you in the direction u need to go.
0 votes Thank Flag Link Thu Oct 17, 2013
I have to guess that your Realtors have not explained to you in a manner you can comprehend, how this works.

If you are not getting any buyers looking, your price is too high.
If you are getting buyers looking, but not offering, your price is too high.
If you are getting offers, but all low, your price is too high, but a little closer than items 1 & 2

The experts in the field are buyers. They are out looking at all your competition and making comparisons.

Either you are motivated to sell or you are not. At this point, if you refuse to accept (or counter offer) any of the offers, as your Realtor, I would stop wasting my time.
0 votes Thank Flag Link Mon Oct 14, 2013
If you have had 5 offers, I think you need to re-evaluate and discuss with your agent the reason why those offers were not acceptable and what your next step is. If the prices were all low offers, you need to look at the condition and price and come to realization of what the real value of your home is. Listen to your agent on the price she recommends or you might be holding out for a long time for the market to catch up to what your price is. As mentioned by another agent - your house is only worth what a buyer is willing to pay. Your buyers are telling you by their offers on what they are willing to pay. Be thankful that buyers are willing to write an offer.

Good luck.
0 votes Thank Flag Link Mon Oct 14, 2013
Clearly your agents marketing is working. Even now you are getting 2 showing a week.
The best place to invest your energy is a true understanding of why you did not make those original offers work. At this moment, you have already constructed the excuses for future failure. They are, 'Do not have to give it away' and 'agent has a wait and see attitude.'
My perception is someone is not operating in good faith. What did you say to your agents when you kicked the first two offers to the curb? It appears your agent is unwilling to confront you. Your agent seems to have lost the energy to keep you from making decisions that place you in harms way.
Only the homeowner can sell a home. The professionals you hire provide guidance and an interpretataion of the data. You are the one responsible for following the guidance provided.
Since you have already voiced, 'wrap it up till later' you have raised the 'NOT MOTIVATED' flag up the pole. When you REALLY know why you want to sell, and meet an agent who can ask the probing, intelligent questions that will lead you to that discovery, that would be the RIGHT time to start over.
Right now, your true reason to sell has not been brought to the foreground. Until then, you will continue to accumulate people to blame and reasons for failure.
Best of success in selling your NY home.
0 votes Thank Flag Link Mon Oct 14, 2013
Your agent can better advise; keep in mind that a home is worth what someone is willing to pay for it; it doesn’t matter what the seller needs or potential buyers can afford to spend. Market conditions do matter as does the immediacy for a transaction to take place. In setting a price, it is in the seller’s best interest to focus on the current market conditions, therefore to better your odds and the possibibility of multiple offers, make sure you are currently priced on target....
0 votes Thank Flag Link Mon Oct 14, 2013
To bad you didn't accept those offers that were higher than present asking price. I hope sellers are reading this because just think...your house would be sold now. Re evaluate your marketing plan with your agents and stay with it. Two showings a week is not bad considering...
0 votes Thank Flag Link Mon Oct 14, 2013
What is the feedback you received? Is it priced appropriately, based on a comparative market analysis for your area? Why do think it isn't selling?
0 votes Thank Flag Link Mon Oct 14, 2013
I would put it back on the market with all new pictures and make sure it goes on trulia, Zillow, craigslist, postlets,t a company website, realtor.com. and facebook which includes a few real estate sites. Postcards should me sent out in your immediate in casesomeone has a friend or relative that wants to move to the area
0 votes Thank Flag Link Mon Oct 14, 2013
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