Home Selling in Rochester>Question Details

Aks, Home Seller in Rochester, NY

What is considered "good activity" with regards to # of showings, # of second showings, # of offers, and # of people coming to an open?

Asked by Aks, Rochester, NY Tue Sep 8, 2009

house etc? We've had our house on the market for almost 1 week and have scheduled 5 showings and we had one offer (which we declined bc it was lower than we wanted and the buyers could not negotiate). We are VERY motivated to sell (we have a contingent offer on another house) but we also want to get the most $ for our current hosue that we can b4 reducing our asking price. Can you comment on our activity thus far and if/when we should reduce our price. Thanks!

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5
Matt Cockerham’s answer
Don't know your specific market, but I would say your activity is good. Hold strong to your price and keep that house need and clean. Be sure you have excellent photos online and be sure to get out of the house when buyers come through.

Don't let the potential buyers know you have an offer on another home. It's none of their business and they'll use the information to negotiate against you.

Have your agent counsel you on timing to be sure you don't lose the other home because of a deadline in that paperwork.

Good Luck!
Web Reference: http://www.HomeValueTV.com
0 votes Thank Flag Link Fri Nov 9, 2012
Open house only account for 1% of all the sales. Usually your open house will cause another house to sell. Or if someone who is ready to purchase they will contact an agent and the agent will direct them to come to the open -- if there is no open-- then the agent will show the property to his/her clients at a different time. So don't fret...Price your house aggressively and competatively and it will sell in spite of the open house. Did you ever think that the reason for open houses may be that the agent wants to pick up new buyers at your expense? Wow

Cathy Barton, Broker
Allison James Estates and Homes®
Direct Line: 585-586-8850
cbarton@rochester.rr.com
0 votes Thank Flag Link Fri Nov 9, 2012
The rule of thumb is 10-12 showings or one offer in the first two weeks.

It is likely that although low, that offer may be a true indication of market value.
Because you have a contingent offer I would make sure that if you do not see more showings in the next week that you reduce the price.
0 votes Thank Flag Link Sat Nov 14, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
As Jeannine says, activity really varies from area to area. It also depends on how good a value your property is.

It sounds like you've had real good activity.

However, recognize that most of the activity is likely to occur during the first couple of weeks of a listing. It's great that you already received an offer. You don't provide enough details to suggest whether the offer was good, other than it wasn't what you wanted. Sometimes people look back in regret at that first offer they turned down. And that raises a question: How motivated are you? You say "VERY" and you should be if you have a contingent offer on another house. In that case, your first priority should be to sell your present home for an amount you can live with, not "want to get the most $ for our current house."

What did your Realtor say?

And, umm, an offer on another home in THIS market contingent on the sale of your present home? Bluntly speaking, that wasn't the best idea in the world. (I know, I know. You fell in love with the new home. You just had to have it. Still, not a good idea.)

If you think you're motivated now, consider how you'll feel with about 7 days left on the contingency on the new home.

It's fine to sell your present home for a reasonable price. And if there's a certain bottom line that you absolutely need in order to be able to buy the new home, then, yes, you have to stick with it. But the statement that you "want to get the most $ for our current house" doesn't sound right in the situation you're in.

So, to answer your question, your activity probably is quite good. Determine the need for a price reduction (when and how much) based on the level of activity for the next few weeks.
0 votes Thank Flag Link Sat Nov 14, 2009
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Hi Aks!
I would have to say that activity varies from area to area, condition and price. Your activity seems pretty good without knowing more info! I see that this questions was asked a couple of months ago, so I hope that you have sold by now or have reduced to get more action and a qualified buyer!
0 votes Thank Flag Link Sat Nov 14, 2009
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