Home Selling in 08527>Question Details

W1jjs, Home Seller in Jackson, NJ

My house has been on the market for about 30 days and still has not had a single showing. Should I be?

Asked by W1jjs, Jackson, NJ Mon Jun 30, 2008

It's a 5 bedroom 3.5 bath 3600sqft Listing at $495,000. I know the market is slow, but is this normal?

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Answers

21
Hi W1jjs, a good way to gauge your expectations on how long it might take to sell your home is by measuring the market absorption rate in your price range in your community. Your agent can help you with this, but in a nutshell, look at the total number of available homes in the price range in your town and divide that by the number of homes that have gone under contract in the last 30 days. The result is the number of months on average it takes to sell a home at the current rate of sale, if not additional homes were to come on the market. It's helpful to keep your eye on that stat - it may very well be sobering, but best to have realistic expectations.

By the 30 day mark, your home should have had some good exposure - activities that I would arrange in that period would include a Caravan visit to expose the home to agents in my office, a Broker's Open House to expose to agents in other offices/firms, several Public Open Houses. I have a listing in a community that is at a near stand still and in the first 45 days the only people that came through the door came during my Public Open Houses so you can bet I am holding plenty of those.

These activities are all designed to increase the exposure of your home to agents and potential buyers. Strong positioning of your home on your local MLS, Realtor.com, and other popular websites is essential. Photos are key - both quality and quantity. Your home must be where the buyers are, and today well over 80% of buyers find the home they ultimately purchase online.

Of course, all the exposure in the world will not solve a pricing problem and so reflect on your price as well. Have your agent freshen up the pricing analysis and if you are not priced at the lower end of a suggested range, it is time to make an adjustment so that you are!

Sit down with your agent and review your pricing and marketing plan. Make necessary adjustments and carry on. Be realistic in your expectations and price and aggressive in your activities.

Good luck to you.

Best,
Jeannie Feenick
Weichert Realtors
Search and connect at http://www.feenick.com
Web Reference: http://www.feenick.com
2 votes Thank Flag Link Mon Jun 30, 2008
Absolutely, photos are of great importance. Your agent may have to come back at different times of the day in order to get some good photos and add up to 25 of them on Realtor.com. In addition to the photos, you can have a 2500 character description of your home, the MLS only allow for 500.
Homes are selling in Jackson, but 30 days is a long time with no showings. Ask your realtor to go over a new CMA to see if you need to make a price change.

Best of Luck to you!
1 vote Thank Flag Link Tue Jul 15, 2008
It seems as you have a beautiful home, but the picutres are not doing the home any justice. Not to mention there are so few pictures on MLS (and as someone mentioned before, there's only one photo on Realtor.com). I would suggest asking your Realtor to retake the pictures and to review them with you so that you can choose which ones are best. You should also ask why you don't have an "enhanced" listing on Realtor.com. I've heard that more buyers go to that website to search for homes than any other...so you should be showcased (multiple pictures, a headline, scrolling text, ability to post open houses, etc)

Another good idea is for your Realtor to hold a Broker's Open House. The idea of this is to get all of the local Realtors in for a catered lunch and to preview your home for those buyers they may be working with.

The market is not as slow as you are thinking. Actually there are still bidding wars going on with some properties. The buyers are out there grabbing those properties that have gone down in value in the last two years while taking advantage of low interest rates. Now is the time to make an impact on the market...talk to your Realtor about my suggestions and I am sure you'll see a difference quickly!
1 vote Thank Flag Link Tue Jul 1, 2008
Upon even further review,

On some portals, there are more pictures. W1, they are awful. There is just no other way to describe them. Dark, cluttered, narrow angle, bad lighting, bad color, bad compsition.

And on Realtor.com, the most important portal, there is only 1 picture and you are NOT a "showcase" listing so your home is coming up last.

You need a total re-shoot with proper equipment and lighting. Whoever shot these is not capable of making the correction, I would hire a professional or have the office manager of your real estate agent have one of the top listers who knows how to shoot real estate photos come in and re-shoot.

-Marc
Web Reference: http://www.marcpaolella.com
1 vote Thank Flag Link Tue Jul 1, 2008
Hi W1,

Upon further review...

I think I found your home. Is it the gray Contemporary? If so, we've found the first problem. It is not that your pictures are bad, it's that there are no pictures. Except for 1 bad blurry photo of what may be the front or the rear I cannot tell.

If you've been on the market for 30 days with that photo, you can pretty much forget about it. There are a million newer beautiful Colonials on the market in your price range in Jackson, and you have what looks like a 20-30 tired Contemporary.

If I am wrong, you can smack me around, but your lack of compelling images is your first problem. You might have a beautiful home, but I can't tell that at all.
Web Reference: http://www.marcpaolella.com
1 vote Thank Flag Link Tue Jul 1, 2008
One general rule of thumb is that if you don't get 10 showings in a month, then the problem is price or condition or both. Lower your price NOW while it is still summertime!

In our area of Athens GA, I have a lisiting that is 5 BR, 3 BA, 4868 sf AND on a lake and is listed for $299,900, so I wouldn't ask a national forum, such as this, is your price fair. What matters is what has sold around your area, at what price, in the last six months.
Good luck! Hope you sell it this week!
Laura
1 vote Thank Flag Link Mon Jun 30, 2008
Call your listing agent ask for a meeting in your home have your agent bring their marketing plan so that you can be shown what has been done in the last 30 days to market your home to buyers.
Have your agent bring all stats for similar properties for the last 30 days such as new listings, price reductions, under contract,closed, expired, etc:
If your listing does not have professional looking photos ask why and get them done.

Now all that being said... If your home is not showroom ready meaning clean, clutter free, odor free,all repairs done and animal & family free (for showings) and price according to "closed" properties that have as close as possible stats as your proptery, then no amount of marketing will get the masses (buyers) to show up at your door for a walk thru. Why would any buyer take the time to look at a house that is cluttered, dirty, smelly, needing repairs and over priced... in todays buyers market... would you? Don't get me wrong I'm not saying that's your house I'm just giving you an example.

P.S.
did you know in buyers lingo the definition of small repairs means big money and major repairs mean total remodel. Did you also know that when a buyer doesn't see interior pictures they automatically assume the house must be a dump.

My guess is if you address these issues everything else will fall into place.

Good Luck
Maggie Quinn
Crossroads Realty
Jackson/Millstone Office
Cell 299-1502
0 votes Thank Flag Link Fri Jul 1, 2011
I just got back from vacation so here is my 2 cents. Ask your agent for a HIT report from REALTOR.com. IF you are getting hits and NO showings. It is the price. My daughter, real estate broker in Charlotte, just pulled her home off the market. No showings, no offers. It was the price. It is always the price. Even JUNK sells at a low enough price. You home is NOT junk so keep checking the price. call me with questions if you wish, 732-778-9933
0 votes Thank Flag Link Wed Jul 9, 2008
Hi W1jjs, Jeannie Feenick back - I couldn't agree more with the comments about the importance of photos - quality and quantity. If all you have online is a blurry exterior shot, change that, and add as many more photos that show your home in a positive light.

Here is a tidbit, all homes listed on the MLS feed into Realtor.com - along with the brief MLS desription and about 6 photos. Agents who subscribe to a higher level of service offer their sellers the distinct advantage of loading in as many as 25 photos, and the ability to enhance/control the text, add headlines, scrolling text. When I renewed my "showcase" service, the rep at Realtor.com shared with me that polls are showing that buyers are increasingly sorting by photo count. Think about that - and where your home would fall in that sort. Time to break out a good digital camera! Also the enhanced service tracks hits to your home - important data your agent can share with you which is terrific feedback on market reaction.

Also, if your home is a Contemporary style home, it is all the more important that you maximize the exposure of your home through online positioning, photo count, and agent sponsored activity. The fact is that your buyer will be a small subset of the whole. Most buyers today are looking for a classic Colonial so you may be looking for the 1 in ten, or even 1 in 20 buyers that are interested in or will consider a contemporary style.

The good news it that it sounds as though there are many things you can do to improve the positioning of your home! So get to it, the 30 day mark is still early on. You local market penetration rate will reveal how long it is taking homes to sell on average. And while it is likely your home will not sell in the first 30-60 days, the attention is will get as a new listing is greatest then. Be sure your price is right, take those photos and load them up, enhance your text, increase your online exposure - have your agent crank up the volume on all channels so that you optimize your visibility and presence during this critical period of your listing.

Best to you,
Jeannie Feenick
Weichert Realtors
Search and connect at http://www.feenick.com
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Tue Jul 1, 2008
Hi W1,

No showings in 30 days is not normal and indicates you have a problem. The first thing to check is your Internet exposure. Are you on all the major Internet home search sites? Do a search for your home as if you were a buyer. At the very least, you should be on realtor.com, trulia.com, yahoo.com, aol.com, zillow.com, oodle.com, vast.com, etc. If you are there, great. Now how are your photos and videos? Do they look really great? If not re-shoot and re-post. If your pictures are not great, you made a bad decision with respect to your selection of Realtor. The Internet is how people find homes to visit, and pictures and video are your only weapon to get them to schedule a visit. The first 30 days of marketing are critical, so if you've had mediocre photos up during this critical period, you've made a bad mistake.

Now if you have had good internet exposure, good photos, and no visits, price is the next problem. You need to reduce. And not $10,000, more like $25,000. That should start producing looks.

Why don't you post your ML# and we'll evaluate your Internet exposure.

-Marc
Web Reference: http://www.marcpaolella.com
0 votes Thank Flag Link Tue Jul 1, 2008
W,

Express your concern to your agent and request sales information on all recently sold similar properties. With this information you should be able to tell if you are "over priced" and need to adjust your price.

Good luck,
0 votes Thank Flag Link Tue Jul 1, 2008
Where is your home located, that would be my first question, You have to see if you priced it properly form what you are telling me either it is priced to high, or it is a matter of marketing.
0 votes Thank Flag Link Tue Jul 1, 2008
These are all great answers. A couple of things I would ask are: What is the marketing plan you've put together and has it been followed? Perhaps it is time to review the plan and make some changes. The marketing for a home priced at $495,000 must be different than that plan I would use for a $275,000 home. Market to your audience.
0 votes Thank Flag Link Tue Jul 1, 2008
In a slow market the best way to get attention is price -- hands down. It is no market to just 'try' a price and hope that a buyer will make an offer. It does not happen. There are too many other homes in competition with your home.

It is better to have a house priced below the last closed sale and have multiple offers. Multiple offers tend to create a bidding war and push up the price to the market price. Yet on the other hand if a house is priced too high, buyers wait for price reductions. Buyers also ask about days on the market. They figure if no one else wanted the house, why should they hurry to make an offer. It is the buyers that determine the market value of a house in any type of real estate market. The buyers and their agents are telling you that your price is too high.

Also check to see that your listing has the maximum number of pictures allowed in the MLS. Do the pictures tell a story about the house? Where the pictures taken at the right time of day? Make sure the pictures show the best features of the house.

How easy is it to show your house? Does the agent need a 24-hour notice? Is there a keysafe? Are there dogs on the property? Is there an alarm? Make the house easy to show.
Web Reference: http://www.GregandJoyce.com
0 votes Thank Flag Link Mon Jun 30, 2008
Location, Location,Location, Taxes, Schools, Months of inventory in your town, all play a role, make sure your getting internet exposure, Brokers open houses are crutial right now. There are Realtors in your area who have a buyer in your price range and who your home is perfect for. Not to mention you will get many honest opinions about the price.
0 votes Thank Flag Link Mon Jun 30, 2008
Besides price and location one of the most important ways to attract buyers is with top quality pictures. If they don't like the outside, a buyer often has no desire to see the inside. Look at the pictures of your home and see if they are of good quality.
0 votes Thank Flag Link Mon Jun 30, 2008
Hello,

A general rule of thumb is if you have not had one showing in 30 days your home is probably priced too high for the area. However, alot really depends on the area you are located and your home itself. Your agent should have sat down with you and reviewed all of the homes that have sold in your area and the homes that sat on the market and for how long, etc.

I would definately check the homes in your area that have SOLD/CLOSED in the past few months and make sure you are priced accordingly.

If you have any other questions, please feel free to email me.

Take care!
Angela "Angie" Allchin
Century 21 Rauh & Johns
856-582-0366 x 172
0 votes Thank Flag Link Mon Jun 30, 2008
It would be hard to know what the problem is without more info. However a listing that has been on the market and not a single showing in 30 days is probalby is priced too high. In this market you need to look the best and be the best price or a least not over the median price. Remember if no one sees your home you can't sell it. It sounds like an okay price, but.... Good luck http://www.judyberg.com
0 votes Thank Flag Link Mon Jun 30, 2008
Depending on the upgrades in your home and the overall impression of your property compared to others on the market, may impact your marketability.

Another point of view, which may be important is have you chosen the right agent are they truly working to promote your home. You should have a marketing plan that they have provided and ensuring they are doing such things.
Web Reference: http://www.njpads.com
0 votes Thank Flag Link Mon Jun 30, 2008
Did your agent have pictures in MLS, what do they look like, curb appeal, how is the author statement reading, what are the average DOM? http://www.lynn911.com
0 votes Thank Flag Link Mon Jun 30, 2008
Have your agent do comps for you to ensure, it is priced where it should be. It's possible, you might want to price it bellow the range.
0 votes Thank Flag Link Mon Jun 30, 2008
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