I'd only like to see answers based upon EXPERIENCE, rather than opinion. A veteran realtor once told me that

Asked by Brock Starwood, Chicago, IL Fri Apr 25, 2008

regardless if it's a hot market, or a slow market like we're currently in, after 16-20 showings the seller should get an offer...provided that the property shows well and is priced right. The realtor also said that the reason homes are sitting on the market for 6, 9, 12 months is because it's been taking them that long to accumulate 16-20 showings. I said that given the excessive inventory levels of today's market, more showings are required. Who's correct? Please keep your answers concise, and just answer the question directly.

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9
Deborah Madey, Agent, Brick, NJ
Fri Apr 25, 2008
First....Veteran Realtors can be less knowledgeable than those with a few years experience. Years of service is not an indicator of being in touch w/ the market. (I have been in the biz over 10 yrs following a successful marketing and sales career in Fortune 100 companies.)

16-20 showings and a house will sell in any market. It depends upon the specific property, the competition, the price and marketing associated with it. An aggressively priced property that fits the profile of a commonly sought after style of home may sell very quickly......far fewer than the requisite 16-20 showings. A unique property that has some great features, but others which are obstacles may draw in 3x that many visitors (or more) to produce an offer. Example: Historic period home that is beautifully maintained. Propsective buyers see gorgeous photos online, and read a property description that stirs the heart and motivation. Upon visitng, buyers enter into a wonderful LR/DR that is exactly as depicted online. The buyers get excited. The buyers just love it! But, upon consideration of the fact this older home has small bedrooms, no master bath, and tiny closets......they just can't make it work for them. Repeat this with 61 buyers, before a buyer who said, "I love it so much, I will figure out where to store my stuff, hang my clothes, and share a bath." The answer is......there is no set number. If similar homes sell, and the subject property does not..........that is an indicator of the competition outperforming the subject property. Why? Find out and adjust marketing, pricing, positioning of the property accordingly.

Deborah Madey- Broker
Peninsula Realty Group New Jersey
2 votes
Keith Sorem, Agent, Glendale, CA
Fri Apr 25, 2008
Brock
I did answer already, and I stand by the answer. The best values go first, leaving the rest of the listings to sit, accumulate market time, and lose value.
1 vote
Kathleen M.A…, , Jump River, WI
Fri Apr 25, 2008
I have been in the business since 1998 and the number of showings means nothing! I had a listing that was shown by my office and a large number of other offices about 45 to 50 showings over 6 months and no one wrote an offer for a large number of excusses! Than on the other hand, I had listing without any showings purchase just pruchased by the internet photos and others shown just once after about 6 months on the market with that couple purchasing the home. There are a large number of facters involved and being pre-approved never held water with our offers because too many facters used to determine that pre-approval was not true when the offer acturally happen. It is corny but true "It is just a matter of the rigth person at the right time". As long as we do our best, as long as we are honst and truth full it all works out to the best. Waiting is the hardest but when the offer comes it is worth the wait, that is oour job! I love the business even if it is stressful at times! Good Luck
Kathleen & Jake
1 vote
Trish Brophy, , Glencoe, IL
Fri Apr 25, 2008
Another thing to remember is that the buying public now look online before they ever go to see a house in person. On average, houses are getting far fewer "actual" showings - those people who come to see the house have given it, at least, a preliminary thumbs on online. The average home buyer when looking for a home these days goes to see far fewer homes than, for example, 10 years ago.

So to get back to your question, if your house does not generate a flurry of showings when it first comes on the market, you need to consider whether the house is priced appropriately given its size, condition, and location, and given the current market conditions.
Web Reference:  http://www.trishbrophy.com
1 vote
Heidi Engel, , Mount Prospect, IL
Fri Apr 25, 2008
"The realtor also said that the reason homes are sitting on the market for 6, 9, 12 months is because it's been taking them that long to accumulate 16-20 showings. I said that given the excessive inventory levels of today's market, more showings are required."

Yes that is one reason---and it is correct.
There is another issue to deal with-----when a home is just put on the market----there should be a fair to good amount of showings---buyers that have been looking in that price range want to see new inventory--

however,ifthe new listing is not getting traffic... the entire market is rejecting the list price--no one is even bothering to take a look
If the listing has gotten activity---16-20 showings--and no offers-the price again must not be correct for condition, location, size etc
1 vote
Vacc, Home Buyer, 44202
Fri Apr 25, 2008
12 months means a 'sticky seller' and a real estate agent who is not properly eductating the seller.
0 votes
Mark Roncone, , Naperville, IL
Fri Apr 25, 2008
PRICE, PRICE, PRICE If it is priced right it will sell. Homes values have declined. You have to look at similar homes SALES in your neighborhood from the past 3 months. Homes are sitting on the market for long periods of time because they are not priced for TODAYS market.
Web Reference:  http://www.nilhomeseller.com
0 votes
Ida Mccarthy, , 60148
Fri Apr 25, 2008
Heidi's answer is correct. That's my answer based on 14 years experience.
Web Reference:  http://www.idamccarthy.com
0 votes
Dr. Cynthia…, Agent, Conyers, GA
Fri Apr 25, 2008
Pricing and presentation is the key today. In my 25 years of experience, I believe it should be lower numbers of 10 showings and no offer you need to revisit price and check exterior and interior presentation.
0 votes
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