David Schwar…, Other/Just Looking in 85254

How to drive more people to our house?

Asked by David Schwartz, 85254 Sun Aug 26, 2007

We have had our house on the market since the 8th of August. Not one person has come to visit. The house is in a great location and we priced it below similar houses in our area. Any ideas?

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28
Paul Slaybau…, Agent, Scottsdale, AZ
Mon Aug 27, 2007
Did you price the home below similar active listings in the area, or below the homes that have actually sold? Getting below the current competition is critical, but that is not always the truest indicator of value. I have seen neighborhoods where every single active listing was overpriced. Being the least overpriced does not cut it. So while you ceratinly need to review your marketing plan, review your pricing strategy as well. Make sure that the price you are attempting to fetch is realistic based upon pending sales and closed sales. The summer has been slow in Phoenix in general, so you can take some solace in that. Don't let that dissuade you from doing what is necessary, however.

One other piece of advice. Something that many sellers are guilty of due to human nature. Make sure that you do not let the condition of the home deteriorate as you get frustrated with the lack of traffic. When you think that no one is coming, the home tends to reflect it. Murphy's law dictates that that is precisely when your showings will occur. That is deadly in this market. You need the home to be impeccable for each showing because you will not get as many opportunities. So make sure that you have the home looking like it did the day you hit the market.
3 votes
J R, , New York, NY
Mon Aug 27, 2007
Marty I wish I could give you more than ONE thumbs UP!

The reasons why houses don't sell
1. Price
2. inaccessible
3. Price
4. too messy
5. Price
6. no advertising
7. Price
8. selling agent fee too low
9. price
10. bad market
11. price

Get the picture? :)
2 votes
Marty Van Di…, Agent, Palmer, AK
Mon Aug 27, 2007
If you aren't getting any showings you aren't even in the game. I'll reiterate what I said before.

It's the price.

You will need to lower it significantly.
2 votes
Jonathan Dal…, Agent, Glendale, AZ
Sun Aug 26, 2007
David ... my lone suggestion is talk to your agent and double-check the price. August has been very, very slow. But homes still are selling - generally those at the lowest price in a given area.

Skip the open houses, broker tours and other busy-work parlor tricks and focus on the bottom line - just as a buyer will do when searching your neighborhood.

Best of luck to you.
2 votes
Keith Sorem, Agent, Glendale, CA
Sun Aug 26, 2007
David
If this business was as easy as it sounds, everyone would be doing it. Most of the time, selling real estate requires skill. I have not seen your listing, so I do not know now it is being marketed.
Just taking your statements at face value, every good REALTOR does what you just said. It is the WAY that these activities are executed that makes the difference.

For example, no offense to JR and Michael, but suggestions like those you suggested may not be in David's best interest. Sticking a sign in the yard that says "buyt this will $500 down" violates a number of principles and probably lending regulations in various states. Besides, you're not selling a car, you're trying to attract the largest number of qualified buyers.

Also, if David was selling his property without representation then handing out flyers at real estate offices is not going to do anyone any good either, except the people that sell you the paper and the toner!

Without rehashing the numerous posts regarding marketing a home, the basic principles of marketing apply:
1. How many comparable homes are on the market?
2. Have you seen any of them and how they are being marketed?
3. Why should a buyer purchase yours rather than any of the other homes?

Answer that question and you are in business. If all the homes are being marketed the same way, and they are all comparables, then you are understanding that to make a home marketable.it takes strategy.

If you'd like further info please let us know.
2 votes
Tobie Ward, , Phoenix, AZ
Sun Aug 26, 2007
Hi David,
First you have to take the market into consideration, August was the slowest month for traffic this year. That being said you have to take a look at how and where your home is being marketed. Internet marketing is crucial to getting showings. My buyers look through hundreds of homes online before they ever go visit them in person. If your house is not showing up online or has bad photos, this will prevent you from getting showings. Price is not the only thing that buyers look for in a home many will spend more to get the home they want and in this market they have so many choices they can afford to be picky. Have you thought about staging? I include a consultation with a professional stager for all my clients. I would also consider flyering the neighborhood and doing open houses and broker tours, In this market there is no such thing as too much exposure. Good Luck and if you need agreat stager contact me.
Thanks Tobie
2 votes
Mike Kelly A…, Agent, Santa Rosa, CA
Sat Sep 8, 2007
Sounds like you're a FSBO? Do you know your market data? Do you know the trends? What's the absorption rate for your neighborhood? Who are the buyers? First timers, move-up? 2nd home folks? Are you offering any buyer incentives like interest rate buy-downs? Is your home dated? Are you allowing "drive-bys" to elminate your property? Remember, only 2-3% of ALL buyers ever buy the home they call on in the newspaper or on-line. Are you cooperating with the Real Estate Community? Selling Agent incentives? 4-5% to the Selling Agent? If everyone else is NOT selling in your neighborhood and you have dropped your price below that--then maybe the market entry is below YOUR price. Is there a reason you are not wanting to use a Realtor? If you're trying to save the brokerage fee this is understandable but may cost you more in the long run. In a highly competitive market as Phoenix, where thousands of listing are currently on the market, getting a Realtor maybe your only salvation. Here are some reasons. Who is going to look at your property? Remember, this is most likely the biggest, single, investment most folks will make. So the first time homebuyers might be totally scared of working with someone selling their home themselves. The "move-up" buyers have an agent already because s/he has either sold their home or currently has it on the market. You had better appeal to this agent because they may not want to make a move without them. The "Relocating-Buyer" doesn't have the time to fool with a FSBO. They want to work with a professional who does not get them into trouble with an unknown entity. Who is left? Investors and they LOVE working with FSBOs. I could go on but I think you get my drift. Yes, I am unabashedly, 100% in favor of you using a Realtor! But I appreciate and respect your wishing to sell your home and save the brokerage fee.
1 vote
Ruthmarie Hi…, , Westchester County, NY
Sat Sep 8, 2007
Have you checked solds and expireds? You need to know what homes in your area are actually selling for, not what they are listed for. Also, are the comperable homes getting any action? If so, what sets them apart from your home.

I hate to repeat what everyone else is saying, but even though August is slow, if you've had NO showings - its the price.
1 vote
Mr.P, , Arizona
Sat Sep 8, 2007
Well price has been covered, Have you Had a Realtor tour?
Buyer incentives are always help
Good Luck
1 vote
Carla Morin, , Peoria, AZ
Mon Aug 27, 2007
Hi David:
You have already been given a lot of great marketing ideas. In my opinion, while marketing is still very important, if you are really serious about selling, you need to make sure your home is priced within the 3-5 lowest comparables. You might also think about assisting with buyers' closing costs and make sure your house is very clean and the yard is well manicured. Good Luck!
1 vote
J R, , New York, NY
Sun Aug 26, 2007
Heck, I only suggested he give open listings to the agencies because we had a seller to that and one of our agents sold their house! :)
1 vote
David Schwar…, , 85254
Sun Aug 26, 2007
Just to add. It is listed in the mls, has good photos. I myself have added it to postlets, googlebase, craigslist. It does have a sign out front. We did have a redecorator come in and help place/move furniture, plants, pictures, etc... Hopefully its as Tobie said and August is just horrible.

Thanks for all the input.
1 vote
Michael, , California
Sun Aug 26, 2007
JR is right. A real estate professional that is in tune with safe, affordable government programs can be a real asset when you are competing with other homes for sale in your area.
Web Reference:  http://homebuyerservice.org
1 vote
J R, , New York, NY
Sun Aug 26, 2007
And if it isn't you'll be guilty of bait and switch. It's good to have a realtor who is aware of these things. :)
1 vote
J R, , New York, NY
Sun Aug 26, 2007
If you're going to go FSBO, some people stop at all the r.e. offices with a flyer and all their information and give everyone an open listing.
1 vote
Pam Winterba…, Agent, Danville, VA
Sun Aug 26, 2007
Are you being represented by a Realtor or marketing it yourself?

If it is being market by a Realtor I would suggest starting with a Broker's open to market the property to other realtors (this is usually done during the week).

Have your home presented at the local marketing meeting, have a sign with a brochure box to have your property flyers outside. I would ask my Realtor to have a strong internet presence, i.e. craigslist, point2agent, vflyer and postlet. Some of these sites will sindicate your property on the internet. Of course you would want it on the MLS for other agents to see.

I would also sit down with my agent to go over my marketing plan and do checks and balances. Good luck
Web Reference:  http://pamwinterbauer.com
1 vote
North Scotts…, Agent, Scottsdale, AZ
Mon Mar 29, 2010
If you are trying to sell the home yourself without an agent, good luck. In this type of market that is pretty close to impossible - as you probably have already figured out. You need an experienced agent who can truly determine what current market value is (it has gone down since August 8) and get maximum internet exposure for you.
0 votes
Mike Linkena…, Agent, Jacksonville, FL
Tue Sep 8, 2009
We have an old saying in the business, "price cures everything". The other part to remember, is that we are now in an age of technology. If your agent isn't aggressive with internet marketing, it might as well not be on the market...
0 votes
Amie Larsen, Agent, Salt Lake City, UT
Thu May 8, 2008
Price is a huge factor, there are also 2 other Factors and they are Access and Wages. Access would be the exposure that your property has including the marketing of the property. The most important marketing you can do for a property is the wages that you are offering to the agents that have the buyers, the agents on the real estate board. If 98% of all buyers are represented by Real Estate Agents, then it is very important to market to those agents and you do this in 2 ways. #1 List your property on the MLS with a powerful agent and ## offer competitive wages to those agents. Typical wages to a buyers agent is 3% of the sales price. If you want your property to stand out to the buyers agents you must offer them incentive to show your property. if the standard Buyer's agent commission in your area is 3%, then offer them 3.5% or 4%. But make sure you are still keeping the buyer's in mind by pricing the property at or below market value. This will also help you to get multiple offers on your property and possibly sell it for more than you were asking. Good Luck.
0 votes
Angela Gando…, Agent, Phoenix, AZ
Thu May 8, 2008
Price competition is the main factor - the bank owned homes are selling and most are selling relatively quickly - why? the price. Price it aggressively...they will come!
0 votes
Lisa Harring…, Agent, Centralia, WA
Thu Jan 17, 2008
Aloha David,
Price for sure is a factor, but what about signage and frequent open houses to attract drive-by traffic? How would you rate the curb appeal of your home in comparison to the others in the neighborhood? If your home is in a great location and is truly priced similar to other houses in the area, you may want to consider having it professionally staged inside and out to attract visitors. Good luck!!
0 votes
Nelson, , Phoenix, AZ
Fri Sep 14, 2007
David,

Is your property priced at current market asking price? Is your property in MLS? Can REALTORS send your property along with others as they prepare a gateway for clients to preview homes they would like to visit? And if you are attempting to sell the property without an agent, are you aware that the average For Sale By Owner sells for about 16% less than the average property listed with a professional REALTOR? A 6-7% commission paid for a professional REALTOR to market your property may not only get you those coveted visitors but also 9-10%more for your property. In this market price is king, but possible visitors need to know your property even exists. A professional team of agents have a well-tuned marketing machine allowing for maximum exposure.
0 votes
Michael, , California
Sat Sep 8, 2007
Most of todays home buyers are looking for affordability. Price point is important however, monthly payment and good financing are equally important. Depeding upon your homes price range, it may qualify for State, Federal and/or Community specific first time home buyer financing with little if any down payment required. This can be a big selling point for first time home buyers with a 620+ credit score. Yes, you may need to contribute towards closing costs and tax impounds, but there are more people than you think that would much prefer to own instead of rent that do not try to time the market. I speak from experience here in California where entry level is $500,000! We process 20 to 30 buyers per month in our OC office alone, and yes, they are buying.

Michael Lewis
Home Buyer Service
missionmike1@msn.com
0 votes
Joe Iuliucci, , 89113
Sat Sep 8, 2007
Online advertising is working for us in Vegas - Craigslist, postlets, and probably one of the biggest is our poin2agent website http://www.relolv.com . other agents help promote your listings, and they also post your listings to 11 or so sites like google base, yahoo real estate. It works
0 votes
Michael, , California
Sun Aug 26, 2007
You need to have a yard sign made that states:
First Time Home Buyers
Government Financing Available
$500 Down

This usually gets the attention of prospective buyers, assuming your home is in the price range applicable to a number of fixed rate government programs
0 votes
Yvonne Jaram…, Agent, Honolulu, HI
Sun Aug 26, 2007
Do you have an agent? A good agent should be able to come up with a marketing plan to help drive people to your home - one idea - you could offer a higher commission to buyers agents , this would encourage them to bring more buyers to see your home.
0 votes
Marty Van Di…, Agent, Palmer, AK
Sun Aug 26, 2007
Is it listed with a realtor? Does it have photos on the listing? Do you have a sign?

If you have done the above, (and you could do a little more). Then you should make absolutely certain that you are priced lower than the competition. I would question that fact if you aren't getting any showings.
0 votes
Jeff Blackwe…, Agent, Gilbert, AZ
Sun Aug 26, 2007
What methods are you using to promote your home to the public and agents? I included a link to a thread titled, "What are the best ways to market real estate?" that I think might give you a few ideas.
0 votes
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