We all feel for you in your predicament - 30 days seems like an eternity. I like to advise people of other's in similar situations so that you don't feel so alone in this huge market place.... and Deborah's suggestion about checking out the competition with regard to the number of showings they've had AND whether or not they have seriously interested parties or not - is spot on.
We know you are getting tech exposure via the web and real estate channel: but are you priced comparably for your size, location, age/maintenance, and is your home updated? How do you stack up against all like properties in your area?
As for the open house - there is a mixed bag of reaction there. While it's true agents can sometimes (not too often) find a lead by holding an open house - it's not impossible to say you may get a buyer! I did - in a tough Southern California market!
If you are serious about selling your home - you need to leave no stone unturned. Don't limit your exposure because "somebody said something" that put a negative spin in your mind. Don't lose that .01% chance that you might find your buyer... besides, it will motivate you to really take a good look at your stage factor.
Open house attendees are a great resource for getting real time opinions about your home and it's show readiness. Hope you get some positive feedback, but if you don't you may be on to something even better - an answer to your own question.
Last night I went back and forth deciding how to answer this. I did some research in your market (I grew up in Michigan) and compared it to markets of some of the agents responding. I was surprised at some of my findings but they didn't result in good answers. But looking through different questions, everyone seems to agree that multiple pictures are important.
When I pulled up your zip code in Realtor.com, only 4 out of 100 homes had multiple photos.
If you are not getting shoiwngs, you first need to find out what is happening with your competition. If other properties are getting showings and you are not, you need to identify why and address it. If other properties are not getting activity, it could be reflective of that few of buyers in the marketplace.
Ask you agent to reveiw with you which, if any, properties in the market received offers in the last 30 days, what came on new. Take a step back and be really objective about how you stack up against the competition.
Review pricing. Your current pricing needs to reflect the product (your property) as it is offered. It must be competitive. It is possible to raise value rather than decrease price. Staging, decluttering, and painting are methods of increasing value and making your price more competitive.
As it pertains to open houses, I would not rule them out. Open houses are not the core of the marketing program, and though few people buy at open houses, it does happen. Moreover, neighbors may come and tell their friends, etc. I have sold properties at an open house, although the percentage is small. When you must reach to all marketing efforts in a small market, don't dismiss anything that might bring you a buyer.
Yes, sometimes an open house does benefit the listing agent, or the agent that holds it open as far as generating leads. But I personally have had 2 homes go under contract from an open house in the last year! (unfortunately, I was not the one at the open house, another agent did it for me). If you get people in your home and increase awareness is that not your optimum goal. Get it to as many people as possible. The folks that come to the open house may not be the buyers.....but they may tell someone at work or a family member about a great house they went through and refer that person to your listing. Don't rule out the open house. It can be indirect marketing!
If you have not had any showings in 30 days, I would ask your agent to bring you updated comps! You may want to investigate where you are priced compared to the rest of the market. Have you done a just listed mail out to surrounding areas to make sure everyone know there is a house for sale in their neighborhood? They may know someone wanting to move into the area!
I appreciate that it is frustrating trying to sell in a stale market! Work with your agent when possible. It will be more profitable for both of you.
I would suggest that you ask your agent for a marketing plan if you did not receive one already. Heavy emphasis should be placed on Internet marketing as the great majority of buyers search the Internet for their next home these days. However, all the Internet marketing and innovative marketing tools will not help if your home is not priced right. I like Dana's suggestion of looking at your competition. I always invite my sellers to take a tour of other properties on the market in the price range that they think they are in. There's nothing like seeing first hand what all the buyers will see when they look in your price range.
If you have a Realtor, and are getting no showings, I would surmise that the house is overpriced, and even the agents think so, because even they aren't suggesting it to clients.
You really need a more mainstream internet exposure to be presented to a more broad audience first and foremost. If you do have this video of your property, it can also be added to Realtor.com (provided you are listed on there) as a new beta enhancement. And is very simple to do.
Price, Location and Photos are the biggest factors. If you do have great curb appeal, get different angular shots of the yard at the best time of day to enhance color and avoid the dead straight on shot if possible and make sure you #1 photo and top 8 pics are your best photos and of different features.
We usually sell a majority of our listings from Open Houses. We do generate quite a few leads, but our first concern, as many agents, is to sell the property.
It is true not all Realtors are the same, but before assuming that your Realtor is not getting the job done, it would be sage advice for me to urge you to speak to your Realtor and communicate your concerns and expectations. Typically if you have not had even one showing in 30 days I would say for sure price might be an indicator. Right now due to market conditions being similar all over the U.S......normal and not the fireworks of a few years back it is key to make sure marketing is in place when listing for sale, and that the price is competitive. Without true market condition pricing your home will not be competing in the same venue for the qualified buyers, and they probably do not even know it exists as it is not in their range. I would reasses the pricing.. ask your Realtor to show you a list of current comparables that have sold, or pending in your area for the last month...then ask for the list of homes that are for sale and are in your area currently....these are your competition. It is crucial that you be the best deal right now in the mix of all these homes that are your competition. Not always in terms of price but sometimes in location, size, ammenities, etc. Open Houses draw activity and neighborhood interest...who knows maybe someone on your street that is invited to an Open House might actually know someone etc. etc. it does happen, not only that it evokes interest, and sometimes agents send their clients out to look at Open Houses..(not me) but I talk to countless people that say their agent sent them to see my open house because it might fit their needs. Market conditions are poor nearly everywhere due to the high supply and lower demand, Grand Rapids is not an exception. Work with your Realtor to forge a solution and if that doesn't work and that Realtor is not perfoming up to par......get one that will. But do not allow your precious marketing time to be wasted. Call your agent today and get the communication going...Good Luck, it can be a frustrating thing when you are the seller and your home is not getting the activity you hoped for. My best wishes:)
There are some agents who are at the top of their game who use great tools like vFlyers, ecampaigns,Youtube Video, Obeo Tours, Craig's list, Googlebase, Wellcomemat,oodle,edgeio, and 70+ search engines such as Realtor.com,MSN, Yahoo, etc...And that's not all there are blogs too, like the one we at team366, located in Ann Arbor, MI are using...An that's not all there's more....