Home Selling in Boca Raton>Question Details

Mscatjo, Home Buyer in Boca Raton, FL

We have our home listed with a real estate agent for 4 months. Other agents brought over 135 perspective buyers to see our home. It did not sell.

Asked by Mscatjo, Boca Raton, FL Mon Aug 15, 2011

mscatjo@aol.com. Our house is in excellent condition. Mostly all new appliances (but not s/s). Our bathrooms have not been updated with granite tops and frameless showers. We live on a lake with a nice pool in a gated community with modest Homeowner fees. What did we do wrong?? We had several wishy/washy bids but our agent didn't act on them quickly and they changed their minds. I am so frustrated and I think we will stay where we are. We were trying to downsize as the house is too big for us now. If you have any ideas, we would appreciate them. Thanks, JoAnn

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Answers

53
Mscatjo,

If you have had 135 showings of your home in 4 months that is over 1 showing a day, 7 days a week. I would say under any description your Realtor® has done a remarkable job of marketing your home. Not sure what happened with the "wishy/washy" offers as more information is needed but all offers should be reacted to in a timely and professional manner. After all these are people who have an emotional connection to your home; enough so that they made an offer. In today's market buyers are very price driven and will put in a low offer to see how the seller reacts. These offers need to be worked to see if a buyers price can be brought up to an acceptable level.

I would doubt that price was the issue if you are getting more than 1 showing a day. If your home was overpriced in relation to the showing agents perception of market value it would not be getting shown anywhere near that amount. Something else is preventing prospects from pulling the trigger. Is there something specific about your homes location that is an objection of buyers? If your home is in excellent condition with a pool and lake frontage in a gated community with reasonable association fees it is hard to fathom what the problem may be.

While price would not appear to be the main factor, based on the showing volume, I would sit down with your agent, carefully review the feedback they have been getting back from those that have shown the home. I would also look carefully at the homes in your community that have sold over the past 90 days and make any price reductions that may be needed.

It sounds like you have a Realtor® whose marketing has worked wonderfully, and also sounds like the home is in excellent condition in a nice community. Something specific is causing your problems but I do not have enough information to figure out what that may be.

I hope this information is helpful but if you need anything additional do not hesitate to give me a call.



Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
Web Reference: http://www.tompriester.com
3 votes Thank Flag Link Tue Aug 16, 2011
I really cannot believe how many responses this question is getting. How on earth can a home in a wonderful gated community in excellent condition on a lake with a private pool be overpriced if it is averaging more than one showing a day?

Do you agents schedule showings for overpriced listings? There is something else wrong here if this question is even from a real seller. After all these responses one would think the seller would be back offering thanks, adding more detail, etc.

Maybe in other parts of the country agents like to show overpriced listings but here in southern Florida overpriced listings sit there with a few sporadic showings. But 135 showings in 4 months on a home that you all are saying is overpriced?

If this is a real question from a real seller something else is wrong. What it is I do not know but it certainly is not price.
Web Reference: http://www.tompriester.com
2 votes Thank Flag Link Wed Aug 31, 2011
Sherlock Holmes would not have had much trouble figuring out the answer here:

If you still want to Sell; I would suggest doing a new CMA, lower in the obviously high LISTING PRICE and sending out a letter to all of those 135 people; telling then that you have lowered the price and inviting them back for a Private Open House on (such-and-such a date) and to please bring their Buyer's Agent with them.

Good luck and may God bless
1 vote Thank Flag Link Wed Aug 31, 2011
The answer is simple. Without seeing comps or knowing anything further, the house is overpriced.
135 showings states that you have a viable product where people want to live.. the problem is the price.

Don't blame your agent on the so called "wishy washy" offers. any offer is a good offer. that sounds like you are looking for a scapegoat.

Reduce the price and the house will sell. 135 views? it is most definately the price.
1 vote Thank Flag Link Wed Aug 31, 2011
If you get that many showings, it's usually not the price. Most buyers won't go in a house that they think is over priced. What do you mean your agent didn't act on the offers quickly. Usually your first offer is the best and in this market, you need to do everything you can to make it work! Good luck!
Web Reference: http://www.LizBobeck.com
1 vote Thank Flag Link Wed Aug 31, 2011
If you get that many showings, it's usually not the price. Most buyers won't go in a house that they think is over priced. What do you mean your agent didn't act on the offers quickly. Usually your first offer is the best and in this market, you need to do everything you can to make it work! Good luck!
Web Reference: http://www.LizBobeck.com
1 vote Thank Flag Link Wed Aug 31, 2011
Mscatjo,

You have some great answers and advice here.

Wow that is a lot of traffic and no offers, keep in mind that its a Buyers Market. Buyers will shop, shop until they drop looking for the better price and the better bargains for there DOLLAR! So you should just consult with your Realtor and look at all your options:

- Price Reduction
- Staging
- Marketing etc.

If it's priced right it should sell fast, look at your market and see what has Sold in the last past 6 months.

Best of Luck!

Millie Valentin
RE/MAX VOYAGE
Web Reference: http://www.realtor.com
1 vote Thank Flag Link Mon Aug 29, 2011
Your price is fine.

Your house isn't showing well.

Confused? Especially because of all the advice already that your house is overpriced? I don't blame you.

Look at it this way. When potential buyers are making a decision on what houses to look at, they narrow houses down by location, by size (largely number of bedrooms and baths), and by price. And then there are other factors . . . but those tend to be the Big Three. You've had 135 people come through in 4 months who've gone through that initial checklist. Location? OK. Size? OK. Price? OK--within the buyer's predetermined pricing parameters.

Then they get to your property. The location hasn't moved. (Though there could be some problems; see below.) Size: It's still x bedrooms/x baths on a 1/x acre lot. And price: It's still priced at $x.

But 135 folks have decided that the house isn't for them . . . even though they could afford it. Again: 135 folks have decided not to buy your house even though they could afford it.

If you'd been priced way too high, you wouldn't have gotten all those prospective buyers. It wouldn't have gotten past the Big Three test.

So, 135 buyers get there. They are OK with the general location and with the size of the house. And with the price. And all 135 decide not to buy. Hmmmm. It aint the price.

One additonal comment about price: The comments below that identify price as the problem are correct in one way: Any property will sell at the right price. But the question really is: Is price the problem? There are plenty of houses out there where the problems could be corrected with $5,000-$10,000 worth of work--new paint, new carpet, a good decluttering and cleaning, and some landscaping. Or the same house might sell with a $30,000 price reduction. In that case, which would you choose: Cut the price $30,000 or address the existing problems with a $5,000 investment?

Location? It could be if there's something particularly undesirable about the specific home. Is it directly under high-power lines? Some people just won't buy a house like that. Or do you have to drive past a garbage dump to get there? It might not be your specific house that's affecting the location. Quick story: There's a nice subdivision near where I live. There are two ways to drive to it. One takes you past nice large homes and some McMansions. The other route takes you past some 1950s 2 bed/1 bath homes that originally had outhouses. Some have cars up on blocks. Realtors who know the area are careful to provide driving directions that'll take prospective buyers by the large homes and McMansions, not past the old outhouses and cars on blocks.

But if it's not location, then it's the home. I understand. You say your house is "in excellent condition" with "mostly all new appliances." Still . . . How is the house furnished? What's the floor covering? What are the window coverings? Are the window coverings, furniture, etc., properly positioned to take advantage of the views? Are there any odors--pet odors, cooking odors, etc? Does it have good curb appeal? I suggest you consider getting a home stager in there to give you an evaluation. It'll be well worth it.

One thing you might do is post a link here to your listing. Sometimes those of us here on Trulia are able to provide some additional suggestions after we've seen the actual listing.

I can't comment on the quality of job being done by your agent. But it is legitimate to ask the agent what feedback he/she has gotten (feedback is notoriously unreliable, but there might be a pattern from 135 viewers). And your agent certainly should be providing some additional perspective on why none of those 135 prospective buyers hasn't made an offer.

Hope that helps.
1 vote Thank Flag Link Mon Aug 29, 2011
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
You are so right Mark. There is no way you average over 1 showing a day if price was the issue. The seller makes condition and location sound ideal. Weird.
1 vote Thank Flag Link Sat Aug 27, 2011
If you had 135 showings and the property did not sell, then it is priced way too high or there is something very wrong with it.

What is a wishy/washy bid? Offers in Florida must be in writing. If you didn't any written offers, then there were no bids, wishy/washy or otherwise.
1 vote Thank Flag Link Tue Aug 16, 2011
without to blame your agent or not enough marketing you definitely had more than enough buyers through your home to generate an offer. If you did not get one and without seeing or judging your home as you mentioned its in good condition with upgrades the prospective buyer in their minds must be comparing to similar homes in the area that they are liking better and must be making offers or purchasing these other homes on the market. Therefore in the price range you are at and not recieving reasonable offers your home must be priced too high compared to the competition around you. Buyer or buyers agents are probably backing off from giing you a lowball offer or an offer much less than you are asking assuming it is so far off you wont take it. If you are not in a tight situation to pay off your loan compared to fair market value or in a position to be eligible for a short sale then its time to re-evaluate your position in the market. If you priced correctly and your home is not in a bad location and have many upgrade peasing to a buyer and the home shows well, if its priced right the market will chase you rather than you chase the market, Some newer agent say anything to make you happy and take the listing rather lay facts on the line wheter you like hearing it or bot, I would rather do business on my terms that is agreeable to you and have a solid working relationship to get your home SOLD for the highest price in the shortest time frame, Feel free to contact me to discuss what you may or may not be doing right as i can not solicit you while your property is listed. But you are allowed to discuss your situation as you feel deemed comfortable.. I hae over 20 years of Real Estate experience to better serve my clients.
Best Regards,
Russ Greenberg, Realtor
Keyes Real Estate, Mortgage, Title, Insurance
561 445 8782
FlaHomeMover@aol.com
1 vote Thank Flag Link Mon Aug 15, 2011
You have had many potential buyers tell you by their lack of offers that your price is too high. Blame the market, blame the lack of expensive upgrades, blame your agent, blame sun spots. The price is too high!
1 vote Thank Flag Link Mon Aug 15, 2011
Good Evening,
There's always a reason (price, generally) why it didn't sell. Please give me the address so that I may research your property on the multiple listing service (MLS) and make a comparative market analysis.
You may contact me at 561-870-8542 or by e-mail at DR1932@aol.com.
Please advise your realtor of your dis-satisfaction with his service.
Warmly,
Marvin Krause, Realtor
Keller Williams Realty

This is in no way a solicitation for your listing!
1 vote Thank Flag Link Mon Aug 15, 2011
I noticed you mentioned upgrades condition, location...but what about price? EVERY home will sell at the right price. Are you priced competitively? Did you lower the price at all during those 4 months? Also, did you let your realtor know that you are displeased with his/her lack of action when it came to offers? Remember, YOU are paying the commission here, so you have every right to speak about if you are dissatisfied.
Is your home listed here on Trulia? If so, you can post a link and we can give you feedback, or you can send me a private message and I am happy to take a look.
1 vote Thank Flag Link Mon Aug 15, 2011
after a YEAR!
I hope it sold!!!!
0 votes Thank Flag Link Fri Aug 24, 2012
135 showings... cannot say every agent was not paying attention... This is a price / presentation issue... I can sell your home...

I am a very strong negotiator and can get the job done.

If you are reasonable in price the home will sell.

I have lived here almost 25 years..

Call me Gary (561) 306 7653
Web Reference: http://www.garyyoungman.com
0 votes Thank Flag Link Fri Aug 24, 2012
Yeow....135 showings in four months and no sale?

The solution is a simple one:

home listed no showings.....lower the price

home listed with showings but no offers....lower he price

home listed with many showings but no offers....lower the price

home listed with showings and offers but no agreement.....lower the price

There is a reason why your home is getting a health number of showings but no offers....consider having a heart-to-heart with your agent to determine why.....

Good luck,

Bill
0 votes Thank Flag Link Thu Aug 16, 2012
Well, with low inventory potential buyers will look even in properties that are priced to high. As a buyers agent I will show that property to my buyer and will suggest them to give an offer based on the comparables in the area, but that offer may sound to low for you.
I will suggest to make new comparables and lower the price if necessery. Every house, if it is priced right will sell in todays market in TWO- THREE months.
0 votes Thank Flag Link Thu Aug 16, 2012
in this market, there is no way a house will get so many showings and dont sale. there must be more to the information, which was not giving to us. the house is either away over priced or something else... I really would like to know more!
0 votes Thank Flag Link Thu May 17, 2012
I love the way that Don Tepper drills down and dissect the situation. His analysis is spot-on.

Clearly you weren't overpriced for a home of your size, in your location. But 135 potential buyers, with the money to spend made a decision that for 'whatever reason', your home wasn't worth the money.

Several buyers tried to tell you what they felt it was worth (in their 'wishy/washy' bids), but you and your agent didn't listen. Maybe it's time for your agent to contact a whole bunch of your previous viewers and ask the hard question... whether they're still in the market or not, and whether they've bought something else or not.

"What was it about our house that made you decide to a) buy something else or b) simply not buy our house?

Was it price? Condition? Layout? Location? Lack of Upgrades? The nasty condition of our neighbours home? What???

And when they answer... don't take it personally.... adjust. Either fix the issues they've raised, or adjust your price accordingly.

Good luck.
0 votes Thank Flag Link Thu Sep 1, 2011
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
It happens form time to time Pricing the home correctly is importatn and Marketign the home is the other way is having your realtor Market and Market the home. When you have a buyer is like getting a fish on a hook you dont let them go, you reel them in and you work with them.
Kind Regards
Raul RUisanchez ERA
0 votes Thank Flag Link Thu Sep 1, 2011
National Association of Realtors states that if your home is on the market for two weeks and no showings, its overpriced and if you have ten showings and no offers, its overpriced.
So if you have had 135 buyers and no offers, you have helped sell a lot of homes in the area.
Your agent didnt act quickly enough on wishy washy bids? A bid is a bid is a bid...so if you had low ball offers, you simply said no and those lowballers moved on ..... .
If you don't like your agent, reread your contract with him/her, I believe you can terminate. Better yet, sit down with your agent and talk to them about how you are feeling as far as your agents performance goes.
Talk to that agents broker in charge and request a change of agents.....there are so many roads you can take here.
Best of luck on the sale of your home.
0 votes Thank Flag Link Thu Sep 1, 2011
How do you know that these buyers are wishy washy? And why your agent did not act on them? What advertising or marketing source led them to view your home? You may want to invite your agent and have a one on one talk about your listing. I am assuming that she is asking feedbacks so it will give you an idea what it is. This way, you can brush ideas on how to resolve the why. If its price, then adjust. Is there no appeal, then create one. If its location, nothing much we can do but put emphasis on benefits, and so on.
Let me now if this helps.
0 votes Thank Flag Link Wed Aug 31, 2011
To be blunt there are two reasons why a homes does not sell: 1. It is priced incorrectly or 2. Condition.

The best thing you can do its to ask your realtor the thoughts they have in order to make sure that the price and the condition are accurate. In any market if a home a price correctly and the condition is matching of the price, you will receive and offer in 30 days or less.
0 votes Thank Flag Link Wed Aug 31, 2011
Your house was attracting lots of potential buyers but most likely priced above the market. Im curious to know what the closed sales comparables were in relation to your asking price. Im guessing the gap was wide. But I also agree with the previous answer from Tom. It makes no sense that the house had so much traffic being over priced. The only thing I can think of is that the house shows very well in pictures but it is defective in some way that is potentially spooking buyers into making offers.
0 votes Thank Flag Link Wed Aug 31, 2011
My general ssumption:
YOUR HOME WAS ON THE MARKET BUT NOT IN THE MARKET. The price relative to the value perceived by the buyer is out of balance. Basicall,y buyers found more value for their money with other properties for sale in your area .
How was the price determined? Comps, days on market of recent sale, active homes for sale in your area, Take a look at other homes for sale in your area and compare.
Did your agent give you feedback as to what were the buyers comments on your home?
You may want to check http://www.mycasitas.com and do a search for sale home listings in your area and compare .

Best of luck.
Web Reference: http://www.mycasitas.com
0 votes Thank Flag Link Wed Aug 31, 2011
Early in my real estate career I went to a seminar where the speaker stated that after every 6 qualified showings you should get an offer if your home is priced correctly. If you had 135 showings and your home didn't sell then either the price is not competitive or the agent didn't tell you about the negative feedback.
0 votes Thank Flag Link Wed Aug 31, 2011
The majority are correct; simply, its the price. (of course, we are all/mostly saying this without seeing your home, looking at comps, or looking at the current marketing of your home).
0 votes Thank Flag Link Wed Aug 31, 2011
137 showings and several bids says it's priced too high for your location and market. Have your realtor show you recent comparables and what your competition is for that particular market. Look at the average number of days on market for homes sold in your area. In a lot of areas, it's a buyer's market and a beauty contest in today's market depending on location. Price and condition are a big key to successful selling.
0 votes Thank Flag Link Wed Aug 31, 2011
You don't mention the average days on market for homes in your area. If other homes in your neighborhood are selling more quickly while your home is sitting, there are specific reasons. Your agent should be giving you specific, honest feedback after 135 showings. It could be price, condition or how your house looks. It might be wise to take your home off the market and take a break since the house may be market weary. If you really want to sell, then interview several agents who are successfully selling homes in your neighborhood and really listen to what they say.
0 votes Thank Flag Link Wed Aug 31, 2011
Hi,

As the others have said...if you are getting that level of activity....it's price. You need to take a good look at the real market value and then decide if it's worth it to you to sell at that price. It might not be!

Karen
0 votes Thank Flag Link Wed Aug 31, 2011
Upon re-reading your description of your home in Boca Raton, we can see that location and overall appearance are not a problem. Therefore, as most of us have suggested, it is price that is getting in the way. Many homes in Boca Raton, as well as surounding cities, are overpriced.

In order to list a house in Boca Raton, many realtors will go along with owner's desire to ask a higher price than the market can bear. It is the Boca homeowner's pride of place (which most of us have) that causes that homeowner to insist on that higher price. We all think our Boca homes are special and that there is a buyer in Boca Raton who is waiting for just the right home -- ours.

But most realtors in Boca Raton are savvy enough to know that the price will need to be lowered in order to sell. So chances are your Boca realtor is waiting for you to let go of your price point so he or she can bring it to a realistic figure and get it sold.

So help your Boca Realtor. Agree to drop your price to a realistic level in today's market. But still be prepared to negotiate on price when an offer comes in.

Marc Jablon, The Jablon Team
Realty Associates
jablonteam@gmail.com
561-213-6139
http://www.JablonTeam.com
Web Reference: http://www.JablonTeam.com
0 votes Thank Flag Link Wed Aug 31, 2011
When a home has 135 showings the problem is one of two things...location or price. In this case location does not sound like a problem. In this market the value of a home is determined by what a buyer who is not under duress is willing to pay. Try reducing the price and see what happens. Good luck
0 votes Thank Flag Link Wed Aug 31, 2011
Wow that is an incredible amount of shows! When you say you had many wishy washy bids are you referring to offers? Without knowing more than what you have shared was it price that was "wishy washy" ? Today it is the market not agents or Sellers that determine what a home will sell for. It is impersonal so you must have the best price AND look the best to get picked! Best of Luck!
0 votes Thank Flag Link Wed Aug 31, 2011
It does not take a genuis to figure this out...135 showings and no real serious offers...I don't even have to see the comps...you must be way over-priced. I suggest you seriously look at the last 3 months in your area and the homes that are pending or sold. This will give you a direct idea of what people are actually willing to pay. If you don't take a price reduction then I would take a break from the market in October...till the end of January...and start in the early spring with a new price, new attitude and if necessary a new agent.

You didn't say what the feedback has been. Must be loads with 135 showings. You should process that and decide if there is a trend you can act on.

If you are listed over a million (i"m guessing you may be well over that)...these buyers expect and demand perfection...so if you fall short of that mark...time to get to work.

Good Luck
0 votes Thank Flag Link Mon Aug 29, 2011
It sounds like your home is in good condition, but not upgraded. Wishy washy offers? Were they in writing? It is up to the home owner to accept, reject or counter. Did you negotiate? You had a lot of showings. The agent's job is to get people to your home. It sounds like your agent did a good job. You had offers. How you responded to them is not your agent's fault.
0 votes Thank Flag Link Mon Aug 29, 2011
TIME IS OF THE ESSENCE ! Buyers first reaction is an "emotional" one. Therefore if you have a client come into a home and they find that it fits all their criteria, then lets write an offer. If your agent didnt act in a timely manner and you lost out on the sale, then there needs to be better communication between the agent and the buyer.
0 votes Thank Flag Link Sun Aug 28, 2011
That many showings and it's not sold I would question your agents ability to close a deal. We say as a rule of thumb, if there are some showings and no offer then it is 10% over priced, if there are NO showings and NO offers then it is 20% over priced. Because you had SO many showings I would say it's time to get rid of the tour guide you've hired and get an actual sales person that can help. You mention your agent "didn't act" on offers you had and they changed their minds. Hello! Red Flag. There are a couple guys from your area that have responded here. I say call one of them and interview for the right agent.
0 votes Thank Flag Link Sun Aug 28, 2011
If 135 came through your home by other agents then it usually means the price is all wrong. You need to find out how much similar homes are going for in your area so you can hopefully adjust accordingly. Also, make sure the home is spotless, uncluttered, do any repairs, looks fresh and decorated nicely to make buyers want to live there.

Also, your agent may not know how to educate the buyers on the area and benefits and asking for an offer and closing properly. I always if what you're currently doing is not working then it's time to make a change.

I hope this answere helped you.
0 votes Thank Flag Link Sat Aug 27, 2011
This doesn't make sense to me - how do you get 135 buyers to come and see an overpriced listing?
0 votes Thank Flag Link Sat Aug 27, 2011
From the way your describe your home, it sounds like it is very appealing. However, if after 135 potential buyers have come through and you have not had an offer, it means your price is out of line with comparable houses in Boca Raton.

You can do a couple of things to figure out how to make your home sell in Boca Raton. If you have not done so already, ask your Boca Raton realtor to show you (yes, go see them) some comparable Boca homes so you can see how they are priced.

Also, ask her/him to prepare a CMA for you so you can look through what has sold in Boca Raton and what is on the market in Boca. Because chances are, you (like most Boca sellers who justifiably love their homes) will find it hard to comprehend that your Boca Raton home is not more valuable than someone else's.

I know this because I have worked with numerous Boca Raton sellers who say their home is "special," and that someone will come in and see the real value because it will resonate with them in some emotional manner.

Unfortunately, the only emotional attachment buyers have is to their checkbooks (sort of like the rest of us when we're in the buying position). While they may very well see the special value in your very lovely Boca Raton home, they won't buy it. Because they will find more appeal in another, but lower priced home in Boca.
It's always the check book factor at work.

Also, you mention that the bathrooms in your Boca Raton home have not been updated with granite, etc. As you look around, you will see that many houses in Boca have been upgraded in various ways, and buyers often prefer homes where there is less work to do.

With all that in mind, you could be proactive in this manner: prepare a questionaire - - 5 to 10 questions, no more, that require a yes or no answer or a 1-5 rating -- about your house in Boca Raton. Ask each realtor/buyer who comes in to fill it out. Make sure there's one question about price range and one about the general condition of the house. And if you leave a space for comments, you may get lucky and someone will say something worth thinking about.

In order to jump start more visits to your home in Boca Raton, ask your realtor to adjust the price down, even slightly. That way it will register as a price change in the palm beach county multiple listings.

Good luck with the sale of your Boca Raton home.

Marc Jablon, The Jablon Team
Realty Associates
jablonteam@gmail.com
561-213-6139
http://www.JablonTeam.com
Web Reference: http://www.JablonTeam.com
0 votes Thank Flag Link Sat Aug 27, 2011
135 showings and not a decent offer to accept means your price is too high. The marketing is good. It brought in the traffic. The price is too high. Drop it a little. It's a matter of supply and demand. Feel free to call with any questions.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com
http://www.shortsaledepartment.com
Serving all 50 states

MARS Disclosure for General Commercial Communications
IMPORTANT NOTICE:
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
0 votes Thank Flag Link Tue Aug 16, 2011
If your home had a 135 showings it was obviously desirable, the price however was probably not! Right now it is a buyer's market so expect low ball offers and buyers that are not willing to pay you for what your home is worth. If you can afford to hold onto your home, I advise you to do so. If you can afford to purchase another home and then rent your current home out, that's a great alternative.
0 votes Thank Flag Link Tue Aug 16, 2011
135 showings in four months is impressive. Sure, price could be the issue and probably is, but what did the 135 potential buyers have to say. I know it seems to you that your home is a great buy, but what kind of feed back have you received from the people who have been in the home. I ,like most agents follow up with the agents that have shown the home and ask for their honest feedback as well as their clients. There could be a common thread of what is turning people off.
0 votes Thank Flag Link Tue Aug 16, 2011
A few possibilities come to mind with your situation:

1. Have you received a recent Comparative Market Analysis to ensure that your home is priced right? In the current marketplace short sales & foreclosures can bring the comparables down quickly
2. Have you staged your home. Many buyers need to picture themsleves in your home and too much furniture or personal items can turn them off.
3. Do you have high HOA fees? So many Buyers today are searching for low HOA fees. You may have to compensate by bringing your price down.
4. Has your current Realtor put you on all the RE websites? In today's tech savy world, the majority of the people searching for homes usually start by seaerching the RE websites.
5. Does your Realtor have a Relocation Department? I know my companies Relocation Department sells frequently to people being relocated by their companies?
6. Does your Realtor have an international network?

If your Realtor does not have the tools mentioned above it may be time to switch Realtors. The good news is that the inventory of homes has gone down dramatically since last year at this time. Keep your chin up and best of luck!
0 votes Thank Flag Link Tue Aug 16, 2011
This ia very dificult situationto be in as a seller. Obviously, your home is appealing to look at. There is a problem though. If you have had that amount of interest and no offers, your price is most likely too high. You should talk to your agent about a price reduction.
0 votes Thank Flag Link Tue Aug 16, 2011
On the one hand it's very encouraging that you had so many interested buyers, but on the other hand it's very discouraging that your home hasn't sold. By your description, your home sounds lovely. In fact, picture perfect. Since your home has been on the market for 4 months it's time for your agent to see what homes have sold in your area during this time period. Maybe it's a pricing issue. In which case, you need to make a price adjustment. Every home eventually sells, but in this market, the price is critical. You have to demonstrate to buyers that you are eager to sell and the only concrete way of showing this is the list price.

I hope that helps. Good luck with the sale of your home. I know the right buyer will come along.

Sincerely,
Nicole Marks Mason, Realtor
http://www.buysellboca.com
561-445-8743
Web Reference: http://www.BuySellBoca.com
0 votes Thank Flag Link Tue Aug 16, 2011
There could be a number of reason for YOUR property NOT selling. Already mentioned is the obvious; PRICE. Another consideration is the number of similar properties on the market that your place has to compete with. Having 135 showings is very impressive- that seems like one a day for nearly 160 days.

Clearly there is a problem somewhere.

Try offering a lease-option if you can or just take the property off the market for awhile.

Look at http://www.hybrid-mls.com or similar offerings.
0 votes Thank Flag Link Tue Aug 16, 2011
So we are all speculating since no one has seen the home. Tom Priester brings a very good point, you have an excellent agent if you had that much traffic. My rule is that listings must be priced within the bottom 20% of all similar listings in your community. That is, if there are 20 likely homes in the community you need to be priced among the lowest 4.

If you are within the high priced group lots of people may look at your home to "get ideas on how to decorate" the cheaper home next to you that they will be buying. Don't be the showroom, be the one that sells.

Tony Vega
Charles Rutenberg Realty of Kissimmee
0 votes Thank Flag Link Tue Aug 16, 2011
I don't know who your agent is so I have no ax to grind, but if he got you that many showings in this market in so short a time he seems to be doing his job...unless he hasn't convinced you that it MUST be a price issue
and you need to reduce your asking price.

If you have any doubt, pay to have your property independently appraised to see what a realistic price is in today's market. That keeps the emotion out. Good Luck!
Marty Baker, Re/Max Advantahe Plus
0 votes Thank Flag Link Tue Aug 16, 2011
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