If there are simply no buyers in the market in your price range, it is possible to still get no showings. If there are only a few buyers, but much competition, you must offer a better value proposition than the competition in order to gain the buyersâ€™ attention.
Review the comps with your Realtor. How many properties in your price range have sold or gone under contract in the recent months? If there is minimal or no activity, your Realtor cannot make a market when there is none. If there is activity, you need to look at both your price and marketing to determine why buyers are overlooking your property in favor of others.
For all that supports broad marketing exposure is the key to finding a buyer, there is little to substantiate that the best route to find a buyer is to limit it to one Brokerâ€™s or one Agentâ€™s roster of personal buyers.
Across the nation, most sales are achieved through the cooperative efforts of agents from different brokerages. The entire foundation of 900 MLSs across the country was built upon this premise of Realtors sharing listing info with each other to find buyers for the properties they marketed. Commercial listings achieve the same through CoStar, Loopnet , CCIM and other sites. Specialty niche sites have sprung up in support of matching buyer and sellers of unique properties; ie historic properties.
Rather than look to a Realtors personal book of buyers, I suggest a campaign that entails marketing to the cooperative brokers to reach their collective pool of buyers, as well as marketing to the public at large.
Here's a way to generate some offers.... It's not perfect but it is a great plan "b". I call it the turbo-charged price reduction.
1. Immediately interview 3 Realtors who have a large property management company.
2. Ask them to how many homeowners they represent who own 5 or more houses and are always looking to buy homes that are fairly priced.
3. The broker with the most clients wins your listing
4. They call those buyers and generate the offers
Remember... yeah, the mls works, but its always better to have broker calling people they know with cash and want a home like yours.
I feel the same way you do, and since I am my own Realtor, I know I am doing my job. My home has been listed 3 weeks and only one showing! UGGGHHH! It is really a tough market right now! It may not make you feel any better....but at least it is happening to Realtors too! Talk to your Realtor and make sure you are both on the same page. I have been posting my listing on every web based option out there. Ask your Realtor to explore these options with you and see what happens.
As Ian stated below, I concur. In addition, what are your expectations? Have they been communicated to your Realtor? Does he / she agrees to your goals and â€œBought-inâ€ with you on this event?
Also, you said â€œ..any showingsâ€ meaning zero. None. Is that correct?
I think the better the expansion of your question with some supportive data will yield you better suggestions from us. Help us help you.
Second reason is marketing. Aggressive, passionate, all out marketing. Not just "being" on the Internet, but being everywhere on the Internet. Google your agent, other agents and scan, eyeball, scroll down the screen and see what shows up? Do a search for your market on Bing, Google, etc. Is your broker, agent, REALTOR on that first page...and more than once? Is he or she doing real videos of your place, the area knowing the buyer is not just local? Are the images, copy skimpy, or one size fits all because written by the lady with the bun hairdoo out front that doubles as ther office receptionist. You know the one, with the 1950's glasses that did the best she could but never has been there to your place. So the "nice home, nice neighborhood, nice layout"...(gag) mls description is safe but bland, diet. fat free. That's no fun.
Sell the sizzle not the steak. Hope this helps. Get more images, better wide, crisper, video, more copy, blog posts, social media insertions. Your agent, broker, REALTOR will work with you. If they don't, relist when the contract runs out with someone who does.
right now Buyers are in a position to basically have, the pick of the litter. While we really don't know whether your Realtor is or isn't doing their job, note that other determining factors are also in play, four of them being:
With the current market, realistic assessments are a must. Re-engage with your agent. While a lot of business is conducted over the phone once a home is listed, the discussion really warrants a sit down face-to-face meeting. You can ask your agent to provide for your meeting a current market analysis of homes that are active, pending or sold in your neighborhood since the initial listing.
While the Realtor is getting their stats together, you may also want to visit some open houses or new homes that on the market in your area. I always encourage my clients to do this. I can and do tell them what and who their competition is, but, previewing a like home(s) in person has a completely different effect.
Many issues between Clients and Realtors stem from a break down in communication. Engage with your Realtor to identify the problem(s) and determine if the solutions are possible. Jumping on and finding another Realtor before identifying the problem may still not move you any closer to the goal of selling your home. Not getting any showings is not the problem, it is a symptom of a problem. I encourage you to sit down with your Realtor and really try to find the root of the problem.