I have a house on the market for 3 weeks and nobody has come to see it. Is this common in Atlanta?

Asked by SJP Properties, Atlanta, GA Mon Sep 10, 2007

The home is totaly remodeled and in great shape. Fairly new (2002) and shows well inside and out.

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25
J Lo, Home Buyer, California Glory, Brentwood, CA
Mon Sep 10, 2007
BEST ANSWER
Dear SJP:
Your agent should have shown you the data up front. It is easily attainable. In fact theres so much data available we can show you how many have sold in your area, in your price range, average days on market, how many are on the market currently, an on and on....

As far as open houses not working - what has worked so far? Are you willing to take a few hours to find out? Lets say you don't get a buyer walking through - but someone who did see your home, tells someone he/she knows is looking about this great home in Summerhill.... get the picture?

Don't just hang a sign & call it an open house, let your neighbors know, let them tell their friends... maybe they have family that wants to move to your neigborhood. Maybe theres someone in your subdivision who is currently renting - and would like to become a homeowner but not have to change schools, etc.

The possibilities are only limited by your imagination. Get creative, get enthusiastic, get the ball rolling!!!
1 vote
Carl H. Mart…, , Atlanta, GA
Thu Oct 11, 2007
If no one has come to see it then something is wrong...the first place to look is the price. Chances are it is overpriced and that is why no one has taken the time to view the property. If it isn't the price than it is the marketing...was it staged...how do the photographs look? Read my blog post on Active Rain that I reference...it provides 5 Tips for Getting your Listing Sold

Good luck! Contact me if you need further assistance, carl@rkihomes.com
1 vote
Tony Flores, , 78023
Mon Oct 8, 2007
Are you using an Real Estate Professional. Is it in the local MLS. How is your curb appeal? Have you have had any Open Houses? How are you advertising?
1 vote
Lee Taylor, Agent, Charleston, SC
Mon Sep 10, 2007
Overpriced = No showings. If a home is overpriced. No one will come.
1 vote
J Lo, Home Buyer, California Glory, Brentwood, CA
Mon Sep 10, 2007
Hey SJP:
From your profile I tend to think you are a FSBO. If this is the case - your problem may be more than price. If I am incorrect then you need a new strategy conference with your agent.

Zero traffic technically means - you aren't on the market yet. You haven't hit the radar screen. You are wilting on the vine & nobody knows you are ready to pick.... Can I find any other analogies?

Please - if you don't already have it - get professional representation. If you do have representation - the war room is open. Get the word out - open house, caravan, whatever it takes.

Patrick hit it on the head - Location, Condition, Price - and might I add: EXPOSURE
1 vote
Mr.P, , Arizona
Mon Sep 10, 2007
Hey SJP,
I agree with Joshua. Make sure you are priced correctly to comps.
The three rules of Real Estate are.
Location, Condition, Price.

One thing I really believe about your situation.
You could not of had worse timing.
In the last three weeks, every time you turn on the cable. There is a talking head Interviewing
Chicken Little" The Sky is Falling"
If you read the newspaper.
"No one will ever get a home loan again! "
"This is the worst housing slowdown since the Caveman".
One major Commentator was calling it " Armageddon"

Now we all sit and wait for the Fed, to cut rates.
Maybe they will, maybe they wont.
Most probably they will cut rates.
Then we will start seeing more banks offering a variety of loans.

I have seen Country Wide & Bank of America, run a few ads , looking for new business in the last few days. Of course George has started FHA Secure.

Relax, see what the market looks like at the end of September. We need to give the media time to turn around.
Good Luck
1 vote
Michelle Dav…, Agent, Marietta, GA
Mon Sep 10, 2007
I agree. If you are overpriced, you will not get traffic through. Your home needs to be in the top 1/3 in quality (staging, paint, upgrades, etc.) and the bottom 1/3 in price.
1 vote
kirksharon14, Home Buyer, Just Us, Atlanta, GA
Sun Dec 22, 2013
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0 votes
Annette Law…, Agent, Palm Harbor, FL
Tue Oct 15, 2013
This question was posted Sep 10, 2007.
It is reasonable to beleive this home has sold and possibly resold since that time.
0 votes
Appraisal By…, Other Pro, Atlanta, GA
Tue Oct 15, 2013
More than likely your home may be overpriced. Did you hire an appraiser to do an appraisal on your home? That would help you know the value in order to list at the proper price. Give me a call at (404) 955-9997 and I can help assist you. If you home is remodeled, I would recommend you hire an appraiser to figure out the current value of your home. I appraise homes in your area and I'm very familiar with the market.

I'm available until 7 pm today if you're interested in solving this issue.

Michael.
0 votes
Sally English, Agent, Atlanta, GA
Tue Oct 15, 2013
There has been a lot of advice already posted here - some of it is right on target and a lot of it is just wrong for the Atlanta market
1. Open houses - have not worked well in the Atlanta market for a couple of years. Most agents doing open houses are just doing so to appease their home seller. Some are doing it for future seller leads.
2. AGENT CARAVANS - much better idea. Gets agents to come by the home and preview it. Agents have to be bribed to do this. You will need to do a pretty good catered lunch (figure $15.00 a head) or give out something tangible (bottle of wine, gift cards) to get them to drop in. Don;t expect more than 20 agents to stop in. DO ask them to fill out a questionaire with feedback about the home.
3. SEPTEMBER AND OCTOBER traffic was slow in my market (Emory and CDC neighborhoods). We sold a bunch of houses this year (76 so far) but most of the action was April to August. We are still selling one a week but the foot traffic has dropped way low.
4. INTERNET - still happening. Internet traffic is heavy on our websites. I guess the government shutdown has given people more time to look. Lots of tire kickers but fewer phone calls and texts than normal.
5. PRICING - the advice you have already been given about taking a hard look at the recently sold homes in your neighborhood is on target. MAKE SURE YOU ARE PRICED CORRECTLY.
6. CURB APPEAL - if your home does not look GREAT from the curb - fix it.
7. PHOTOS - If your REALTOR took a crappy photo of your home - fix it. Hire a professional photographer - who specializes in photographing houses (not portraits) to get some good shots of your home with a wide angle HD lens. See link reference below for example.
Goof luck.
Sally English
Realty Associates of Atlanta LLC
404-229-2995
sallyenglish@englishteam.com
0 votes
Appraisal By…, Other Pro, Atlanta, GA
Mon Sep 23, 2013
Did you get an appraisal done? An appraisal can help you list your home properly and speed up the process. If your home seems overpriced in an particular area, buyer's will overlook the home. I'm a certified appraiser in Atlanta, GA with over 12+ years of experience. If you need any assistance feel free to contact me at (404) 955-9997 or email info@appraisalsbymichael.com.

Good luck!
0 votes
Ashleigh Ben…, , Atlanta, GA
Mon Sep 16, 2013
If your home is priced in line with the current market, it should be shown.
0 votes
David Wolfe, , Suwanee, GA
Mon Aug 25, 2008
This is a tough question to answer without knowing the full details of your listing. Yes, it is very uncommon that in the first 3 weeks of your listing nobody has viewed the home. Somewhere, something must be wrong. But to give you good advice on what that is, I would have to have much more information regarding your listing. You can contact us anytime at 770-886-1881 with any specific questions.
0 votes
Lee Taylor, Agent, Decatur, GA
Mon Aug 25, 2008
I know that you liked Jeanette's answer best, probably because it makes you feel like you have control over getting more showings, right?

Well, all of these answers are good ones, but as I've advised before in other Q&A - your sales problem is about the balance between price, terms and time.

Close to 90% of the time, a lockbox showing from a Buyer's agent with a pre-qualified buyer is going to be the cause of a sold listing. They are attracted because of price and terms (condition is part of terms...).

You can get creative with the 10% OF THE MARKET who might buy your property because they found it on Craig's List or Postlets or because one of your neighbors called a friend, or because an "unrepresented buyer" drove by and picked up a flyer...however, it's the 90% that will get you the best chance of obtaining the fast the result that you seek.

So, my favorite listing in Summerhill was overpriced by another agent by over $50,000 for 11 months on the market. I showed the seller the real numbers in Summerhill, and I required her to spend nearly $8,000 on the property in landscaping, interior clean up and a new sidewalk, before we put the sign in the yard. My Terry Street listing sold in 40 days.

Michael Lewis from Atlanta Intown represented the buyer and his client promptly painted the house a cool pink. It's my favorite house over there now.

SJP Properties is not getting very good service from their real estate agent.
Web Reference:  http://intowninsider.com/
0 votes
Joan Shorter, Agent, Atlanta, GA
Sun Aug 24, 2008
Everyone has good advice. I am assuming #1 you have a realtor #2 they provided a market analysis and compared your home to others nearby in pricing. So, in addition to making sure you are priced competitively make sure you have multiple interior photos of your home available on fmls/mls, and other online search engines. Photos, photos, photos - 4-8 minimum. If you have photos and no showings, then I must go back to price.
0 votes
Christiane W…, , 30067
Wed Sep 12, 2007
Find a quick sale agent in your area and hire a "team". Ask lots of questions. What would their specific marketing plan be? Do they have a buyers list? Do they offer a guaranteed sale program? Listen carefully to what they say and not what you want to hear. Hire the head of the team. You can search the web for these professionals.
0 votes
Brent Garris…, , Atlanta, GA
Wed Sep 12, 2007
If I were selling my home in Summerhill, I would determine exactly what I had to get out of the sale of my house in order to walk away from the closing without PAYING anything. Contact a discount broker, one that will market it on FMLS and GAMLS for $500 and go with it. Our market stinks right now, and Summerhill with feel it more so than other areas of town. You have to be the lowest priced one in the neighborhood, and I would advise you to use any means necessary. Otherwise I would rent it and wait the market out.
0 votes
Vicki Masell…, Agent, Duluth, GA
Mon Sep 10, 2007
Hi SJP,

I suggest that you speak to your real estate professional about the feasibility of hosting an agent open house. You would be surprised at the good turnout and candid feedback that you can get from agents previewing homes during a caravan (especially if there is food and door prizes involved). I've never been a big fan of public open houses although I know that there are many agents out there that have had reasonable success with them. Proper planning, preparation and advertising for the event hold the key to successful results. There is one agent in my office who likes to host a hot dog social as a way to draw in the public. She even has a hot dog-in-a-bun costume that she pays a kid to stand on the street corner the day of the event to drive traffic to the open house. If there are other homes for sale in the same neighborhood, your agent may want to consider sharing the cost and effort to host a neighborhood or multi-home open house with other listing agents in the area. Best wishes for more traffic - Ted
0 votes
Carrie Crowe…, Agent, Southaven, MS
Mon Sep 10, 2007
Get a Market Analysis from your agent and go over it together. Ask your agent to hold an open house for you or to get another agent from the office to hold it open. You need all the exposure you can get! An open house will provide exposure. If they are not typically successful don't continue to agonize over it, but have them give it a go at least once. They may prefer to do an agent/broker open house and that would be good. Then other agents that work in your area would be see it and be more likely to think of it when they have a buyer profile that fits your house.
0 votes
SJP Properti…, Both Buyer And Seller, Atlanta, GA
Mon Sep 10, 2007
Thanks for the responses. My home is listed with an agent but there was never any open houses or caravans done. I guess I'll have a sit down with my agent and see if we can get some exposure. I was told that open houses in the Summerhill area don't work. Is that true? The house is definetly in the top 1/3 for condition. I've viewed many homes in the are and they don't have the upgrades my house has. I was told the home is priced right by my agent but never saw an area market survey.
0 votes
James Dudley, Agent, Suwanee, GA
Mon Sep 10, 2007
I agree with all of the comments up to this point.

The market is flooded with homes for sale! If you want to sell today then I will tell you what I told my most recent client. In order to sell your home in a resonable amount of time in today's market you must have the best home, for the best price, in the best condition for your area.

If you don't have an agent yet get one. It's hard enough to sell a home now with an agent, and without one?? As Tony Soprano would say Forgettabout-it ! It's tough out there and you need every advantage you can get.

If you can get out and look at some properties for sale in your area and see how they compare to yours. Most importantly check the new developments and see how their homes are priced and what kind of incentive programs they are offering. It's tough to measure up to new homes that are warrantied, upgraded, paying closing costs, and discounted.

I wish you the best of luck selling your home. If you need some assistance feel free to contact me.
0 votes
Donna McClure, Agent, Atlanta, GA
Mon Sep 10, 2007
Hello SJP,
If you are a For Sale by Owner, it just takes time. If you are listed with an agent then you are probably overpriced. If a home never gets shown then the real estate professionals say it's too high. if your home gets shown alot but no offers, then the buyers are saying it's too high. In this market you have to be in the top 1/3 of fabulous homes with your presentation but in the bottom 1/3 of the price. Right Michelle?:-)
0 votes
Kim Chitwood, Agent, Fayetteville, GA
Mon Sep 10, 2007
how heavy is the competition in your area and price range? Have your agent do an Area Market Survey which will tell you how long the homes in your zip and price range spend on average (on the market)
0 votes
Joshua Jarvis, Agent, Duluth, GA
Mon Sep 10, 2007
If it's overpriced and in a common rehab section of town, then YES. You have to be in the top 10% to sell right now. There are many sections of atlanta that are OVER rehabbed, and the market is saturated with homes that have new goodies.

You might need to take a look at the price to make sure you are very competitive.
Web Reference:  http://www.jrjarvis.com
0 votes
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