house has been on the market for 3 full weeks with no showings. is this normal for the current market or is there something else going on?
Rachel,
The answers below are correct, this is an extremely slow time of year, but besides that, if the house is priced right, you will get showings. Talk it over with your agent, 3 weeks without a showing isn't out of line in some areas.
Good Luck!
Research shows that the 2nd and 3rd week get the most showings if priced competitively. We are in a buyers' market, where buyers are looking for deals. If there's no perceived value in your home for the price it's listed for, you will not have any showings. There are properties in this market that are getting multiple offers. You have to be priced slightly below your competition to get the edge on this current market condition!
Did you have a dicussion with your Realtor regarding his or her marketing plan? Did you do everthing your Realtor said you need to do to make your home have broad appeal? Did you list your home at the price your Realtor suggested? I suggest that you talk to your Realtor about the above questions. It's possible that you need to reduce the price of your home. It's important that you stay in touch with your Realtor.
Hi Rachel,
I don't really know the Texas market, but here in NJ things do slow
down in August. Our schools start up after Labor Day, so lots of
people are "down the shore" in August; or, those with school-age
children made their buying decision so as to move in by August,
prior to the start of school (we have a lot of Closings at the end of July and into mid-August).
Has your Agent done a "Brokers Open House"? We have those here in NJ -- during a weekday-
and invite all the Agents from town to come take a look. Often we serve a light lunch to
further entice Agents to stop by. Is it a custom to do this in TX? Also, have you had any
Sunday Open Houses? Another good way to start the traffic flowing and to get feedback
from prospective Buyers.
It does take a little time to "ramp up" the marketing (taking photos, ordering brochures,
getting onto web sites, etc.). Talk to your Agent about local cycles in your area -- perhaps
activity will pick up after Labor Day -- or perhaps you & your Agent will need to tweak the
marketing plan and/or Asking Price.
Marilyn Holda-Fleck
Prudential New Jersey Properties
August is a slow month most families have made their buying decision moving . Schools are starting many are not out "shopping for houses". Busy time of year for any home for sale April - July unless you are in an urban area on market 365 days out year example downtown Dallas area.
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Lynn911
This might be a good time to have a converstaion with your agent to get their take on why this is the case and also get updated on where they are with your marketing plan.
It is commonly known that is takes several weeks to implement a good marketing plan. There is nothing wrong with expressing your concerns about the lack of activity. Ask if you are priced right for the current RE market activity....
Good luck
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