Home Selling in Clemmons>Question Details

Clover, Home Seller in Clemmons, NC

My house has been listed for 4 months and I have showed it 20 times and cant get an offer. All feedback says house priced right. What do I do?

Asked by Clover, Clemmons, NC Thu Sep 9, 2010

Help the community by answering this question:

Answers

11
Well you have heard from agents around the country, not let a local agent give an opinion. Sometimes, when in a saturated market, you can have the home priced right and it can be in decent condition, and still not get an offer

I read an article recently about Andrew Carnegie, the steel magnate from the 1800s. While on a steel high rise, a young worker ran up to him to meet him and solicit advice to become successful. He asked him to look down below and tell him what he saw. He saw a lot of hard work being performed by men in blue shirts. Mr Carnegie said he had hit on half of the formula, hard work. The second half was to wear a red shirt.

A red shirt would have certainly stood out among a sea of blue. How does your home stand out? Go back to when you bought your home. What was it that drew you to the home above the rest. Begin there to make sure it sends a strong impression. Then go through the home making sure everything is in order.

My colleagues from around the country have agreed that it is either price or condition. Price may have started out right but needs to be reviewed every 6 weeks or so.

Another factor is location. I know the Clemmons area well and have found there are few "questionable" areas, but maybe a few less desirable lots. If this is your situation, price could be a factor as well.

Promotion plays a huge part in a successful sale. If a home is immaculate, properly priced, in a good location and still no offers, the only thing left is promotion or marketing. If there is one thing that sets agents apart, this is it. This is also the reason more homeowners are successful selling a home WITH an agent than undertaking to do their own marketing.

Hope this helps and if I can be of more service, feel free to contact me through my profile or my website.
2 votes Thank Flag Link Fri Sep 10, 2010
Good answers, especially from Jeanne. The fact that you've had a moderate number of showings suggests that your price isn't too far off. If you were seriously overpriced, buyers wouldn't even spend their time looking at your property. So, you're probably in the general ballpark. Still, have your Realtor run a new CMA on your property.

As far as location--sure, that's important. But people also take that into consideration when deciding whether to view a property. And I've seen plenty of times when people have scheduled a viewing, drive through the neighborhood, decide it's not for them, and then drive off without even stopping. The fact that you've had 20+ showings indicates that there's a reasonable awareness of your location (whether that's good or bad) and that people are still willing to look at your home.

That leaves condition, or appearance. Remember: They looked at your home because it seemed at least generally in the right price range. Location isn't a terrible turn-off for those who viewed it. That leaves appearance. They got there, looked at your home, and decided that there was a better combination of price, location, and condition/appearance somewhere else. And very often, at that point, it's appearance.

Consider having your home staged. At least bring in a home stager and get a report from him/her. It'll cost you a bit of money (not much), and you'll get a critical, independent evaluation of how your home shows. It'll be well worth the investment.

Hope that helps.
0 votes Thank Flag Link Sat Sep 11, 2010
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
Clover,

Sorry to hear your frustation. Unfortunately, you are not alone. I love Len's post and agree with everyone....it's price, condition, or location. You only have control over condition and price. If you are generating showings but not getting offers, then one of these needs to be adjusted.

I would suggest you preview the homes in your area that you are competing with. Imagine yourself as the buyer looking for a home that is similar to yours. If you have an agent working for you, ask them to pick the best 3 or 4 homes in your area that they would show to a buyer that would be looking at your home. It will only take a few hours and can be such an eye opener.

Obviously with 20 showings, buyers are looking for a home like yours and that's half the battle. So your off to a good start! You will know what to do after looking at your competition through a buyers eyes.

Take care,

Gina Storeholder
704-299-5254
gstoreholder@cbunited.com
0 votes Thank Flag Link Sat Sep 11, 2010
Yes, homes are selling, but only 90 homes have sold in all of Clemmons in the last 90 days. There are currently 403 homes on the market. That's over a year of inventory. These numbers will vary if we take into account the specifics of your home and your competition. If you want to sell your house, reduce the price. There's a lot of competition and buyers are looking for deals. Any more marketing and exposure is only telling buyers that your home is over priced. If you want an offer, price is the only thing that will set your house apart from the competition.
0 votes Thank Flag Link Fri Sep 10, 2010
Good answer Len, thumbs up from me.
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Fri Sep 10, 2010
There are two tests of price - activitiy/showings and offers. If you have no or low showings, you've got a pricing problem. If you have no offers - the same is true. The fact that you have attracted activity suggests and that the feedback has been "priced right" suggests that you are not hugely off. But face it, homes are selling, and the 20 possible buyers that looked at your home, moved on to others. So there is something about the package that did not do the job. By all means, consider the condition and staging - if you can make improvements do it. But the most important thing for you to do is to adjust the price and make an effort to do in a way that appeals to a new buyer pool. Remember that people tend to budget and search in $50,000 increments - maybe $25,000 - so bear that in mind as you reflect on your price. Then have your agent freshen up the listing and explosively hit the market with you "new story".

I suggest that you act quickly so that you have the advantage of the fall market - soon the holidays will be here and the market will slow down during the Nov, Dec. timeframe.

Good luck to you,
Jeanne Feenick
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Fri Sep 10, 2010
Price or condition.. Price will eventually overcome any condition objections, however it is best to talk to your agent to discuss if condition is also an issue. How does it compare to others in the neighborhood? Have the people that looked at your home bought others or are they still looking? This is a great number of showings. If the house were priced correctly then you should have received an offer. Again, look at the condition as compared to others in the area and priced the same as yours and you should get your answer.

Marta Mohan
The Marta Mohan Team
Keller Williams Realty,SW
http://www.martamohan.com
marta@martamohan.com
0 votes Thank Flag Link Fri Sep 10, 2010
Properties don't sell for 2 reasons: ugly property, or ugly price/terms.

You'll need to price your property correctly, and you might consider selling it with seller financing.
0 votes Thank Flag Link Fri Sep 10, 2010
It is NOT priced correctly ~ Proper price in any marketplace should generate an offer ~ and many more showings.

Good Luck!

Gerry Dunn
Associate Broker
Licensed in Maryland, Virginia and D.C. - 28 Years

Gerry@MyPotomac.com
0 votes Thank Flag Link Fri Sep 10, 2010
Your particular house for whatever reason is NOT priced right, you would have received at least one offer, that's a lot of showing by today's standard. You need to get to the bottom of this by having conversations with your agent.
0 votes Thank Flag Link Thu Sep 9, 2010
You might want to get it staged. Maybe if you can afford it, move out get it staged up and looking pretty. I havent seen the house, but ask your agent to get more feedback as to why the 20 buyers arent interested if it isnt the price. It has to be something else. Also, maybe there is a large amount of inventory in your area?

Also, if your home is a short sale, and there are regular and bank owned homes around you, those will go first before your home.

Try those, your agent should be able to be help you further.
0 votes Thank Flag Link Thu Sep 9, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer