Home Selling in 78254>Question Details

kmartin3243, Home Seller in San Antonio, TX

One showing in one month

Asked by kmartin3243, San Antonio, TX Tue Jul 16, 2013

We have received only one showing in one month.They did not like the layout of the house-nothing we can do there. We also received one offer from an investor within the first week. However, it was $15,000 below our asking price. They were not willing to negotiate on the offer at all so we rejected it. A couple of days ago we decided to lower our price by $4,500. We have a great realtor and our photos are nice. We are just concerned as we have also learned that MOST showings typically occur early on. We were encouraged at the beginning as we did get the one showing and offer very soon after listing but after that it has been completely dead! Any advice is very much appreciated!

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Answers

19
Hi Kmartin,

Without knowing the home or the area and price, it's hard to answer your question. My thoughts generally are that if there are no showings, then price is the answer.

You state that you have an excellent Realtor® and I believe that you do. The best thing is to get with them and have them do another comparative market analysis for your area. The market can change as often as weekly.

My guess right now is price. Since you just had a price reduction, make sure that your Realtor® is marketing that heavily and give it a few days for it to sink in. If, after a week or two showings don't pick up, it's either not priced low enough to attract the buyers for that type of home or area or some other unknown factor that none of us can really help with, as again, we don't have all the info.

Lots of luck to you!

Brenda Mullen
Realtor®
RE/MAX Access
210-807-0819
brenda.mullen@sbcglobal.net
1 vote Thank Flag Link Tue Jul 16, 2013
So many things you are doing are just wrong. I hope your Realtor is telling this to you.

The old rule of thumb is that if no one comes to see your house the buyers have rejected it before they see it. They don't even want to come see it. Things like location, description, pictures and mainly PRICE are what they see to make them not even want to come. If they come and don't buy then something there is turning them off. You are turning them off so they don't even want to come see it.

Never flat reject an offer. I know you want to and I want to sometimes, but it serves no purpose but to piss off a buyer and we have to be bigger than that. Counter back very very close to full list price, but counter something.

There are two ways to remove an objection like location or house layout or any objections. You fix it or you offset it with a price reduction to the point it removes the objection. So you do have an option, you may not want to use it.

Most showings occur early on because those out looking, and not having found anything, are eager to look at all new listings before everyone else. It does not mean they can't come back when they see a price reduction, which sounds like might be your problem. Good luck.
1 vote Thank Flag Link Tue Jul 16, 2013
I appreciate the advice. I am sorry I did not clarify that part correctly. We did not flat out reject the investor 's offer initially....we did a counter that was closer to our original price. They responded to our realtor by saying they were moving on. Therefore we would not take $15,000 less but they were not willing to counter back or anything at all..it was that offer or nothing with them.
Flag Tue Jul 16, 2013
Be patient. Once school starts... things slow down for a bit while people adjust to that. If you feel like your agent is aggressive and is actively trying to market the property, other than just putting the home on MLS, than you should be ok. Give it a little time.

One of the questions I always encourage folks to ask when they meet with agents and interview them for the first time is to ask, "What is your home advertising budget?" and "Can you show me some of your ads?"

Most agents only do the "3 P's"

Put a sign in the Yard
Put the home on MLS
Pray that someone like me will come along and sell it for them.

But if your agent is a good one.. you shouldn't have much to worry about.

Jason
0 votes Thank Flag Link Thu Aug 29, 2013
Showings usually let you know you've hit the sweet spot in the market in terms of pricing. Ask your agent to do another market analysis with a tight view of pricing in your immediate area.
0 votes Thank Flag Link Sun Aug 25, 2013
At the moment real estate is a bit slow due to summer. Keep on your agent and make sure they are advertising the property in its best light. Keep the place tidy, nothing worse that showing or pictures of a cluttered home and trying to see around the daily piles. Maybe paint in neutral colors if you have bold ones now.... Remember people don't always have vision around others items, and it makes it hard to see that potential in a home. I even do the same when I look at pictures of homes to buy for myself.... See the clutter or paint colors or remodel areas and pass on looking at the rest, and I have decorating background... If none of these are the scale. Then move furniture in or around to make rooms look bigger or smaller change nick nacks to different rooms and retake photos and see if that helps.

Good luck!
0 votes Thank Flag Link Sun Aug 25, 2013
I know you have already received some great answers, but here are some articles on why your home may not be selling/showing! I hope they are useful to you!

http://smushinski.featuredblog.com/2013/04/03/8-reasons-your…
http://smushinski.featuredblog.com/2013/07/03/what-not-to-do…
0 votes Thank Flag Link Thu Jul 25, 2013
Thanks for all of the advice from everyone. I really appreciate it. I will see if the price drop makes a difference and talk to my realtor about any other factors that may be negatively affecting the process.
0 votes Thank Flag Link Tue Jul 16, 2013
In today's market, the problem is location, condition or price. Have your agent provide you with comparables and then adjust the price to fir the location and condition.

Or, call me at 210-722-2725.

Roland Gonzales
Broker/Owner
http://www.eCasaReaty.com
rolandg@gvtc.com
210-722-2725
0 votes Thank Flag Link Tue Jul 16, 2013
One showing in one month in this market? Most likely your listing price is high for todays market. Review your asking price with your Realtor to come with a better one.
0 votes Thank Flag Link Tue Jul 16, 2013
One showing in one month in this market? Most likely your listing price is high for todays market. Review your asking price with your Realtor to come with a better one.
0 votes Thank Flag Link Tue Jul 16, 2013
Price is usually first to review. Overpricing will turn away those looking in the area and have an automated search for a specific price range, and yours will be missed in even the auto search.

Second, I would take a look at how it is being presented. I frequently see pics online of homes that are very amateurish. When the pics represent the property in a negative way, it has to be turning people off who can't see past it.

Third, I would possibly consider the agent reputation. It is extremely unlikely, however, I have experienced in my lifetime a moment when other agents were boycotting a particular agency. My house was very nice, priced right, etc. but, no showings.

We changed agents (companies), and it sold in a week. It was a very rare occurrence, but the company had a reputation of being underhanded and evidently the other real estate companies were aware of it, but not us. I would only consider this last. But, thought it was worth mentioning.

Others have commented on curb appeal and others in the area. What is the typical time frame for others to sell there? For instance, higher priced homes may take a little longer to sell in your area. However, if priced right, I feel you should have several showings in the first week.

Is the home clean? Needing of repairs? Marketed online? and to other agents?
0 votes Thank Flag Link Tue Jul 16, 2013
Price it mostly likely the hold up. Drop the price to fair market and let them fight over the home...

Stats show that pricing is key to selling a home. Even overpriced by $2,000 the buyers will stall.
Web Reference: http://www.RealtyEmpire.net
0 votes Thank Flag Link Tue Jul 16, 2013
Like others have said before, without knowing the area or the price, if you are not getting any showing, it is usually because of the price being too high. I always tell my sellers that if we do not price it right from the beginning and the longer the house stays on the market, people wonder why the house has been on the market so long. They think maybe there is something wrong with it and don't even what to waste their time.

Since it has only been a month, I would have your realtor do another market analysis to see if there is a better price to list it at with a little cushion of course, so it doesn't stay on the market much longer.
0 votes Thank Flag Link Tue Jul 16, 2013
You have gotten a tremendous amount of feedback, and you are not listening to it:
The Buyers are voting with their silence.
The price is too high. period.
0 votes Thank Flag Link Tue Jul 16, 2013
K, Martin,
There is so much we don't know.
However, we can have an expectation that a thorough market analysis was completed at the time of the listing, apparently 1 montth ago. From that data many important things were revealed. Those things are:
1. How many homes are selling in your community, in your area.
2. Home many homes at your price point is selling in your area, in your community
3. Home many homes that match your homes attributes are selling in your community, in your area.
4. Where are homes at your price point selling in your area.
5 Where are homes that match your homes attributes selling in your area.
6. What distinguishes these homes that sold from your home.
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The above data not only reveals the market but establishes what you should expect and what action would be needed to alter the outcome. The data also identifyes where the buyer are going and suggests you should have a plan to intercept these buyers.
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Absolute silence, which is a very accurate description of what you are now experiencing is the result of your home being invisible OR outside the 'VALUE BRACKET" of the home buyer. From the previous data, you can clearly identify what a buyer vauues and what they are willing to pay.
-
Now is the time to scrutinize in great detail your agents marketing analytics. From this data you can determine:
0. are people SEEING your home at all? The number seeing will be a predictable fraction of those who will pursue addtional information and/or visit the home.
1. are people seeing your home and rejecting it
2. are people showing interest. Second level ressearch by buyer
3. are people placing the home on a watch.
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Now you have validation that your agents marketing is working. The results will be directly correlated to the market analysis completed one month ago.
-
OK, you've got REAL data. Historic data. ANd data that is only 30 days old!
Your agent will know how to advise you.
-
It is entirely up to you to follow those instructions and strategicly position your home. If you fell to the tempation of adding negotiation room, professional fees, a few dollars for the sheers in the master, to the suggest list price from your agent, this is the time to reconsider. But, don't let your agent off the hook by falling to the 'REDUCE THE PRICE" mantra. Of course if you sacrifice enough of your equity at the alter of selling convienence, your home will sell. However, It SHOULD sell according the the strategy and price orginally agreed upon, that is, if you did not comprise or override that agreement.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Tue Jul 16, 2013
We are in our nation's lowest historical home inventory, coinciding with strides towards increases in consumer confidence, stock market performance and employment numbers. If you're home has not sold there is only one reason: it's priced incorrectly. Be honest with yourself and your Realtor(R), and sell your damn home.
Web Reference: http://kribzoo.com
0 votes Thank Flag Link Tue Jul 16, 2013
Yes they have good info for you. Also want to let you know that if it was June when you listed, March-May were much better but things should pick back up now with people coming back from their summer kick off get-aways. Good luck!
0 votes Thank Flag Link Tue Jul 16, 2013
One showing in the first month is likely an indication of a problem. Without knowing the particulars any advice would be pure guess work. Generally, homes that don't get enough activity are over priced, located in a less desirable location, don't have good curb appeal, the marketing plan is not representing the property well, etc.

Of course the problem could be a result of more than one or all of these issues.

Good luck,

Bill
0 votes Thank Flag Link Tue Jul 16, 2013
Is the home listed on Trulia & Zillow and did you offer to pay the $5K towards closing cost or upgrades vs reducing the price of the home. Congratulations on your plan to sell your home! No matter if you are an experienced homebuyer or selling your home for the first time, we are here to help you. This is our home online and we work hard to make you feel at home. Most sellers have a tendency to call a Realtor when they are ready to sell home and after it is sold they then try and get a mortgage on a new home. We at Dallas Best Mortgage over the years have seen the pitfalls of this very bad decision, as many sellers have faced the fact that they did not get per-qualified for their new mortgage prior to listing. My advice to you is to allow me to get you mortgage ready prior to any listing.

My only job is ensuring that you make the right choice for you and your family and I am committed to providing my customers with mortgage services that exceed their expectations.. As always, you may contact me anytime by phone, fax or email for personalized service and receive expert advice from a Loan Officer who D Magazine, Texas Monthly, Angie’s List, Better Business Bureau and National and North Texas Association of Mortgage Professionals is proud to call one of the very best in the industry and who will be personally responsible for the decisions on you mortgages.

I look forward to working with you! And making your dreams a REALITY

Lowell Sterling
Mortgage Banker
NMLS# 968898
LSterling@DallasBestMortgage.com
1910 Firman Dr, Suite 104 | Richardson, TX 75081
Office: 972-480-9888 | Fax: 469-519-8765
0 votes Thank Flag Link Tue Jul 16, 2013
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