We have a beautiful home,pre inspected, staged properly with a view and access to Lake Pahagaco. Priced way under the market., with a 2K buyers agent bonus In six months very little traffic. We are considering taking it off the market till next year and enjor ourselves at the lake for the summer.Isuue is not price, but no traffic. Any thoughts?
All the agents are focused on exposure and price. Those are the 2 things that will get traffic to your door. You're considering enjoying yourselves at the lake for the summer. Is this a good 2nd or vacation home? If so, because you are trying to sell in a market where discretionary income is in short supply, why not take the bonus and offer to pay all or some of the buyer's closing costs? Many people have the credit to afford a mortgage, but not the cash for closing costs. If you are really priced to sell (and I'm not sure you are), then by offering to lessent the cash needed to get into your home might get you the interest you're looking for.
Take all of the ideas presented here and sit down with your Realtor for a heart to heart. See if you can both come up with a plan of action. If, after you do everything talked about here and whatever else your Realtor suggests, you still can't get traffic to your door, then it may be time to take it off the market for awhile.
Getting people in the door is a matter of promotion and price. If your agent is promoting your home and no one is coming in the door it is price. If you are saying it is under market because you're comparing it to homes that sold a long time ago or far away or homes that are for sale, then you're not comparing it to the right market.
Put it this way - for $1 could you sell your house today? Of course, I'd buy it and I don't know where York is. So, what is the highest price will someone buy it today? There is a price and you have to find it; and then you have to decide if you are OK with selling at that price. Some people are, some people aren't. I don't know your motivation for selling, so I can't advise you. But, there is a market for your home, for every home, you just haven't found it.
The inspection and staging helps after people are in the door, but other than for picture purposes (you do have lots of photos in all your online listings, right?), that stuff doesn't matter too much.
Fairly compensate agents, but don't focus on the bonus. Your buyers are making the decisions.
Should you take the house off the market? Again, I don't know your motivation. But, if you feel that it being for sale is interupting your lifestyle (can't walk around in your underwear, cook fish for dinner, leave the dishes in the sink when you go out), and you need a break... take it if you don't need to sell today or if you're not willing to be price competitive in this market.
Good luck!
I agree with Alan, agent bonuses do not work. Offer an incentive toa potential buyer.
In regards to the issue not being the price; one of two things could be the problem.
1. Generally homes that are priced right see traffic.
2. Certain price ranges in our area are not seeing much traffic at all.
I am not sure that pulling your home from the market until next year is the answer. It depends on your situation and motive. If you are simply downsizing but do not need to move and are not upside down in your mortgage, then you could possibly wait. If you are financially stressed and need to make the move, you may want to consider adjusting the price and agressively campaigning your home now. We have no clue what the market will bring in a years time.
Good Luck
in my opinion, buyer's agent bonuses don't work. Stop offering a bonus to the agent, and start offering a bonus to the buyer... (reduce the price).
If you've had your property on the MLS for six months and have had very little traffic, then you are not priced well enough to attract potential buyers.
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