Is the property getting maximum exposure to the market?
Typically, if a listing is not getting showings, price or marketing are the first issues to look at. Price should be a fit with the location and the condition.
What does your agent think the problem is? If they are an experienced and knowledgeable agent there should be no mystery.
This question is OLD...........why it was resurrected I don't know, but really - do you honestly think Nosheen is still around to benefit from your advice?
You also need to see if the photos and remarks do a good job describing your home. If not, you might suggest a few additions or changes to the remarks or photos. The listing agent wants to sell your home. It's how the agent gets paid. So, hopefully the agent will appreciate your suggestions.
Finally you need to put yourself in a buyer's shoes and compare your home and its price to the other homes in the same price range. Search all the listings that might be similar to your home in your neighborhood. What you are doing is checking out your homeâ€™s competition. If your home is overpriced, you might need to do a price reduction to get some attention and some showings... and eventually an offer and a sale.
Douglas Fuller, Realtor, GRI, ABR, e-Pro
Certified Relocation Specialist
Prudential Northern Arizona Real Estate
I'd be happy to help you find some answers.
There is almost no excuse for no showings on a Flower Mound listing. Flower Mound has been a strong seller all along, even last year when other areas of DFW were struggling. Something is off in your basic formula for your home listing.
Price - I suspect you are in the upper quartile of your subdivision. Am I right? If you were fairly priced in Flower Mound, we agents would be all over your home.
Location - Are you on a busy road?
Marketing - What strategy did you and your agent come up for marketing your home? Do you have LOTS of online photos on a myriad of sites, or are you relying on the MLS alone to sell your home?
Condition - How is your curb appeal? Interior and exterior condition? Are your interior amenities current with what the builders are offering for new construction? If your home shows wear and tear, you will struggle to get sold even if you do get showing traffic.
Age of home - We don't get buyers in this area asking us to please sell them a 25-year old home. Most buyers ask for the newest and largest homes in their price range. If you are one of the older homes, you can get ignored by the buying public because they aren't specifically asking to see homes that fit your criteria.
No showings is a very important signal in this market. 0 showings=0 demand. While you're here on trulia, look up Flower Mound homes available in your price point and compare your homes to the ones around you. If you aren't a stand-out in your price point online, the buyers aren't going to want to see your home. When we have the basic selling formula right, and you know your home stands out from the crowd as a best value, you will see your door opening and offers coming.
Take feedback with a grain of salt from agents from outside this area when it comes to reducing the price. 5% reduction in price for DFW homes isn't usually necessary - especially in Flower Mound where homes are still selling, on average, above $90/sf. We're a very affordable housing market, and we have a bigger buyer pool right now for Flower Mound than in many parts of the Metroplex.
Have a blessed day!
Ronda Allen - Realtor, Life Coach, and Certified Purchasing Manager
CEO of comingsoonhomes.com
Follow us on twitter: http://www.comingsoonhomes.com
RE/MAX Dallas Suburbs - Keith Dobbs Team
#1 Office and #3 Team for RE/MAX in North Texas at mid-year 2009!
See all our team's listings for sale or lease at: http://www.keithdobbs.com
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People who wanted to buy for the start of the school year have most likely already done so. The question posed was why this person wasn't getting any showings. Short of a market that is totally dead in the water........a substantial price reduction might be what's needed to jump start this listing. As Imentioned in my earlier post - price can trump everything...condition, location or any other issues.
Good luck Nosheen!
Pricing and Type of listing do make a difference, especially at this time as we count down to the end of the $8,000 tax credit.
Although short sales typically sell for less and do have an effect on traditional sales, We are now seeing people want to make an offer on a NON-Short Sale homes that will close according to the dates on the contract, no "subject to 3rd party" stuff waiting for months to find out if their offer will even be accepted.
Remember in addition to the tax credit time crunch there is also a beginning of school year time crunch creeping up as well....
Cut your price to 5% less than the last home comparable to yours that sold in the last 30 days and your home will be shown and sold.
Ask 2% more than the last home comparable to yours that sold in the last 30 days and your home will be not be shown and will not be sold.
If your home is not a short sale, how does it show, how is it priced in relation to competing homes in your local market, can people get more for less even in neighboring towns in your area (including short sales since they are competition like it or not).
Find out what the absorption rate is for homes in your area, it will give you a picture of how many buyers are buying (average) vs how many homes are available for sale (competition) and how many homes are getting taken off the market (sales) giving a picture and rough estimate how long it should take to sell your home.
Active: 532 Pending: 84 Sold: 603 Other: 0 Total: 1219
DOM for Solds
0-30 Days 213
31-60 Days 150
61-90 Days 89
91-120 Days 46
120+ Days 105
Median Days on the Market 52 for a 4 BR 3 BA Selling Price of $250K Avg SP % to LP 96.73%
priced too high
priced too high
Please, understand I am not trying to be glib, but....
no matter what the condition is ...........no matter what the issues might be - PRICE is the great equalizer....
unless your agent forgot to enter you into the MLS (I am being facetious), no showings means the agents are staying away more than likely because the price is intimidating them....again, even if the home doesn't show well .........or the lot is too sloped .....or the street it's on is very busy - price can overcome all objections!
How long have you been on the market?
Hope things pick up for you. Have a nice long chat with your agent! He or she should be able to answer your question.