Still, really, that doesn't matter. The question is: What's your home worth? Let's assume for the moment that your home is reasonably priced and that even the agents for the "lowballs" say the comps support your list price. (Parenthetically, I don't think much of those agents. They should be representing the interests of their clients, not apologizing for the low offers or saying that your pricing--and not their clients' offers--are justified.)
So, why the low offers? Could be lots of reasons: Maybe the offers were at the top end of what the buyers could afford. Maybe the buyers didn't like your home that much, but would be willing to buy it if they could get a substantial discount. Maybe they assumed that it was a distress sale because the home was vacant. Maybe they've heard about all those great bargains out there, and just figured they'd make a low offer and see if they could get a great deal.
Did you ask the two buyers' agents what was motivating their buyers? If so, what did they say? If not, why not?
It does sound like you're getting pretty good traffic. But how long as the house been on the market? If it's only a couple of weeks, it's not time to worry yet. If it's been a couple of months, then you've got a real problem. (Lots of showings but no offers--or only very low offers--means that your home is priced OK but something is turning off potential buyers when they get there.)
Staging is almost always a good idea. You might also look into "virtual staging." See http://www.VirtualStagingSolutions3D.com for example.
But talk to your Realtor and have him/her get feedback from the agents whose clients made the low offers. Also have your Realtor talk to the other agents who've been by for their feedback. And if your home has been on the market for a month or more, have your Realtor do another CMA to make sure that your listing price is still competitive.
Hope that helps.
1) Comparable sales are a good indication of what your home may be worth in an appraisal, but they don't account for what a buyer may be able to purchase at this moment for the same money.
2) You should have priced your home in anticipation of low ball offers given the market conditions. Failure to do so is a question of strategy. Is your agent well suited to speak to this question?
3) Where and how is the home being advertised? Exposure leads to showings, which lead to offers, which lead to a sale. If you're underexposed, the low ball offers may be the best that you'll see.
4) Are you realistic? Again, comparable sales may be an indication towards the value of your home, but they're hardly a guarantee. Is there something that makes your home more or less desirable than the homes that did sell?
If you can address these issues, ensure that your agent has a solid marketing plan, and they're aggressive; then just be patient. A good offer will come.
I have listed many vacant homes in the Austin area and staging makes a huge difference. You do not have to do anything major either. For example: Put a picture on the fire place mantel with some candles. In a large empty family room place a small end table with a lamp and possibly some pillows. In the bathrooms put a small vase with some tasteful plastic flowers. Little things like this can literally transform an essentially empty home.
I have an inventory of old furniture that I have picked up on craigslist that I use for my clients vacant listings and it works wonders. You do not have to go crazy when staging your vacant home. Just adding some little touches that give the appearance of a home environment will make a wold of difference.
Try it, it works! Best of luck to you as well.
2. Lots of news telling everyone it is a buyers market
3. They want to see how far you can move
4. Some people have accepted lower offers
5. Could be because it is vacant....
6. Keep the lawn mowed, landscaping nice, driveup nice.
7. If no one is in it, make sure it gets cleaned occasionally.
7+. Keep power on.
8. Leave the comps in the house. Circle the ones you think are relevant.
9. Counter even the low offers....we often have low bids come to list price.
10. Send your comps back with your counter offers.
Good luck, to you,
Unwavering Commitment to Service
The staging is a great idea and will be money well spent. Studys show a staged home sells quicker and for more than an empty one. And use the feedback from all those showing to fix what is turning buyers off.