I took the liberty of looking up your listing. Among other things, I noticed that yours is the highest priced home in the area compared to other homes of similar style and size. Also, as far back as '06 I don't see any ranches in the area (1500 square feet and under) that have sold for anywhere close to $159,900. May be time to consider a price reduction.
Offering a more competitive buyer agent commission may be to your benefit. Also, it appears from the MLS that you or your agent are present during showings? If that is correct, I would highly advise against it.
The buyers will always talk to you. If you are getting no showings, the price is too high.
If you are getting lots of showings and no offers, the price is closer, but still too high compared to the competition on the market, the house, condition, location or whatever the buyer views as value.
When the house is priced close to the correct number, you will begin to get offers.
If the house is getting showings, lower the price to get an offer.
If you've had frequent showings, then your home is being marketed reasonably well, and it's priced OK. That means there's something about either your specific home or your neighborhood that's turning off potential buyers. They're OK with the price; they're OK with the beds/baths/etc. as presented on the MLS. They're not OK with your specific house.
What feedback have you received from your agent? What feedback has your agent received from the agents who have shown the property? (That's not always reliable; people tend to be polite and say everything was fine. But that's still the place to begin.)
Ask your agent to consider holding a broker's open. Then have your agent get feedback from those agents.
If your agent has suggested some minor repairs or maintenance, do them.
If you even suspect that your home might benefit from home staging, get a home stager in there to give you a report. Often, the cost is a few hundred dollars. It's well worth it.
Meanwhile, have your agent keep an eye on the comps. With a bunch of showings, you sound like you're priced OK, but that can change pretty quickly, too.
You and your agent should go and tour at least 3 or 4 of the comps this week. Take a look at your competition. How do you compare? You may pick up some useful information.
Meanwhile, drive around your neighborhood. Follow the route that most people would follow to get to your house. Are there any turn-offs? Eyesores? Abandoned houses? Cars up on blocks? Lots of barking dogs? If so, make sure the MLS listing directs potential buyers a different way to reach your home.
Those are a few steps to take.
Hope that helps.
You may also want to go out with a friend and look at your competition. Have your agent pull up the houses that a buyer will be looking at if they did a search and then look at them objectively to see how your house rates.
In addition to proper pricing, your agent should have provided you with a list of items to do prior to listing. It could be as simple as de-personalizing your home to making a few repairs and/or updates that buyers will want to see. Homes sell quickly in this market if priced right and in great condition. You need to sit and chat with your agent about your options.
The real question you should be asking is this:
How many homes, like mine, have sold in the last two and a half months? An easy way is to go into Trulia and look in your zip code and look under STATS.
The buyer that first sees the home they buy sees it with a Realtor 90% of the time. So if you are not getting showings, lower the price. If you are not getting offers, lower the price. Homes sell closest to asking price during the first 30 days of market time. The longer they sit, the more value they lose.
MJ Peterson Real Estate