Home listed 90 days. $133k reduced to $123k. 1-2 showings/wk. 3 "almost" offers. Shows well but buyers don't like sq ft (1350) &

Asked by Discouragedseller, Omaha, NE Thu Jul 28, 2011

corner lot. Help

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7
Shawn Kriewa…, Agent, Madison, WI
Fri Jul 29, 2011
It sounds like your home is getting good traffic, and your pricing is in the ball park.

Have you received any professional staging advice? Great staging will help your home feel larger, brighter and more open. Effective staging doesn't need to be expensive (in fact it can be very cheap). Done right it will help your buyers see the value in your space. It will also help your home's online appearance and lead to more showings.

You'll find a sample staging plan on my team's web site: HowWeHelpYouSell.com.

I wish you all the best.

Shawn
0 votes
kenneth Land…, Agent, Omaha, NE
Thu Jul 28, 2011
3 almost offers is not an offer, but pricing doesnt seem to be the issue. Todays buyers tend to look at price per sqft and if you have low sqft it could be the issue. If you can add some cheap sqft, do so. If thats not an option, have your agent preview competing homes and find your competative advantage. Remove excess furniture to make your home appear bigger. Also include wash/dryer and fridge, many first time buyers will pick the home that minimizes there downstroke and new appliances do that. If they are real nice, buy some nice used ones and put them in the home. Good Luck The next two weeks should be good as buyers are trying to buy before school starts.
0 votes
Discourageds…, Home Seller, Omaha, NE
Thu Jul 28, 2011
Thank you for all of your answers. The house is the lowest priced in the area with the exception of 2 distressed properties. I expect to pay the buyer's closing costs, so that's not an issue. I feel like my agent has been advertising and marketing heavily as well, it just seems that the pool of buyers right now is extremely small.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Jul 28, 2011
If you are getting showings, more than likely the pricing may off; therefore review comps with your agent, recently sold similar properties in the immediate area, see what the data suggests and adjust accordingly. Rather than offering a selling agent bonus, consider offering to pay some of the potential buyer's closing costs...
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Jerod Evanich, , Omaha, NE
Thu Jul 28, 2011
Do not 100% agree with the the first answer. Also, if your getting showings and offers then something is working. A new realtor might be able to have a feesh look at the property and offer different advertising techniques. A price for your home is tough to determine without actually seeing it but you should be pretty close to the right market value if you are receiving offers. Probably only $2-5k from the selling price.
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Ron Thomas, Agent, Fresno, CA
Thu Jul 28, 2011
Buyer will say things, like the square footage, or the gerraniums, or the color of the drapes; what they are really saying is that the price is too high.

I cannot imagine $123,000 being too high; but I cannot see the Comp's.

When a house hasn't sold for more than 90 days; 98% of the time, it is price.

Good luck and may God bless
0 votes
Gerard Carney, Agent, Spring Hill, FL
Thu Jul 28, 2011
Stop! Cancel your sale with your present Realtor and tak a week off of selling the home. Interview some new Realtors, at least three of them and not from the same agency. Ask them to bring you a CMA of the property, see if all three CMAs come in kind of close, if they do then make the average your new asking price! Ask the Realtor you choose to be sure they offer a 50% split for the buying agent, then tell them you offer an additional $3000 for the buyers agent as a bonus. This will lure more agents with buyers to come and show your home in hopes they might get a bonus if they can talk a buyer into your property! List the property with the new Realtor and within 30-45 days you should have a buyer or at least more shows than now, do not drop price until after 90 days! But in 90 days I would leave the price and push the bonus to $5000
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