My house has been listed for 45 days. The day it went on the market 3 people came

Asked by Mary Peres, 11743 Thu Nov 6, 2008

One made an offer but had to wait until they sold their house. Since then NO ONE has requested to see the house and their has been no activity whatso ever. I am priced below what my neighbors are asking, The house has been updated inside and out. I have dropped my price. What else can I do...I must relocate

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15
Therese L Ko…, Agent, Bayside NY 11361, NY
Fri May 29, 2009
Hi Mary-Usually when a house hits the market- it is the hottest it will ever be. Everyone sees the new listing-so they hurry to go see it. That's why you had activity-then unless the price is adjusted- the novelty wears off and it just sits there. Houses are selling if priced right. Hope you were able to get close to your asking price. Terry K 718-614-3167 cell
1 vote
Linsey Plane…, Agent, Rancho Santa Margarita, CA
Thu Nov 6, 2008
No question that checking sold sales is the most meaningful indication of prices.

I appreciate the open house advice but I'm not sure that is a solution. Rarely do homes sell via an open house. If you do one, it must be well exceptionally well marketed and advertised online (where buyers are looking). Otherwise, you are just hoping to get 'lucky' when someone drives by.

Curb appeal plays a role - but only to those that show up.

The first concern is getting people to come see the home. You need an 'at bat' so to speak, to even have a chance of hitting the ball. What attracts people to want to see your home?

Superb Photos
Exceptional description
Online Exposure
Price

With regard to price, it's critical to understand the market you are in. In my market place, the homes that sell aren't just priced at market value. With the state of the economy and the overall housing market, buyers only are willing to take the leap on homes that are a 'good deal'. When they stand around the water cooler at work justifying buying in this market, they want to be able to say, 'I got a great deal'.

If you have to move, and you don't want to lease the property, price it to get showings. Then, of course, make each showing count by keeping your home in spectacular showing condition.

Hope this helps. All the best to you and good luck.
1 vote
Franklin Bla…, , Lake Ronkonkoma, NY
Thu Nov 6, 2008
Mary,

My strongest suggestion is to look at those homes that have just been sold in your area. Those that are in contract are the most recently sold. There would appear to be common factors that lead you and your realtor to better evaluate your strategy, both in price and characteristics.
1 vote
Scott Godzyk, Agent, Manchester, NH
Thu Nov 6, 2008
You first need to get a new brokers price oppinion that will show you what similar properties are selling for in your area. What your neighbors are listed for may not be realistic as they may all be way high. you need to see what has sold. Once you know if your house is priced correctly make sure your house is being advertised each and every week, ask where and when. In addition you should make sure your agent is offering a 50/50 cobroke to buyers agents to spur them to bring buyers to your house. I wish you luck with yoru sale.
Web Reference:  http://www.ScottSellsNH.com
1 vote
Jerry Cibuls…, Agent, Southold, NY
Sun Dec 30, 2012
There are many options to help create buyer interest. The successful sale of a home is based on price, home, location and marketing. Make the home approachable. The real estate agents in your market are some of the best network resources. They will be able to bring in the buyers they are working with in this segment of the market. You also have the home buyers looking on the internet. The photos are the most important piece to the home shopping. They are making decisions based on the pictures so you want to be sure the house is showing your best features. The price of the home will also attract the buyers and they will compare the features of your home to others with similar features. Make sure you are priced in the right segment. It is not just neighborhoods that the home buyers are comparing.
0 votes
Gisella Cra…, Agent, Smithtown, NY
Mon Dec 10, 2012
In the Real Estate market the first 30 days are the must important dates because the house is new to the market. I will suggest to sit down with your agent and ask to market your property a little bit more aggressive, since you must relocate. Also open houses and marketing the property to renters in the area helps.
0 votes
Kevin, Both Buyer And Seller, Brooklyn, NY
Fri Nov 30, 2012
Either the price needs to be set lower to meet the demand (what Buyer's are actually paying for) or your listing agent is not marketing the property right. Is the agent using videos along with pictures, and covering the description area of the listing to the max with home features and neighborhood appeal? If not, it's hard for the Buyer to get a feel for the property.

The Buyer needs to feel like they actually saw your home without physically being there BEFORE they even think about taking the trip. Remember, competition is tough (your neighbors) and credit is tight (less bank loans for Buyers). In a Buyer's market, Cash Investors come out of the wood works and can only offer you ~70% of the current market value of your house. That is the CURRENT market value of the house, not what you owe the bank. There are many ways to sell a house that you should be familiar with. Welcome to the 21st Century.

Many agents are swamped with listings and keep getting more of them, so they work on quantity instead of quality listings and are operating on the old way of thinking, mainly give the Buyer less information so that they are compelled to inquire, this just doesn't work like it used to.

If you are in NYC, contact me. I am a Cash Buyer myself and work with Realtors and Attorneys that specialize in traditional and creative ways of selling your house that you may not be familiar with.

All the best.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Wed May 20, 2009
Are you working with a Realtor, if not now is a good time. Don't compare your listing price to your neighbors, rather have your Realtor tell you what nearby properties have closed for or check for yourself on MLSLI.com under closed properties, then pull up your immediate area. Once you have done that take a look at your listing price again and review all your marketing strategies. If you need assistance feel free to call or e-mail.

Anna
917-576-5376
abrocco@laffey.com
0 votes
Rafael Jose, , Melville, NY
Wed May 20, 2009
Photos help, advertising aggressively is key, but lowering that price is the only way to get a house sold quickly in today's market
Web Reference:  http://www.ghhrealestate.com
0 votes
Lawrence&She…, Agent, Plainview, NY
Sun Nov 9, 2008
You may be in a hurry to relocate, but 45 days on the market is not a long time. You say your house has been listed for 45 days, but is it with a broker or are you trying to sell on your own? In this market, it's PRICE, PRICE, PRICE!
0 votes
Linsey Plane…, Agent, Rancho Santa Margarita, CA
Thu Nov 6, 2008
Rockinblu,

Thank you for that. I have so appreciated you acknowledging my work on that blog. It's not done with the intent to get new business as it's primary job. It's primary intent is to serve sellers within and outside my marketplace. Thanks so much for noticing!

Hope it's helpful to you Mary.
0 votes
Bill Eckler, Agent, Venice, FL
Thu Nov 6, 2008
Mary,

The two major factors in selling a home in the current real estate market are PRICE and VISIBILITY. Since the buyers today are attracted to the foreclosure and short sale hype most buyers are focused on "finding a deal that is a steal," sellers need to do everything possible to remain competitive with this portion of the market. The fact is, that today's short sale and foreclosure sale prices are going to create the new market level for pricing.

So, if your home has been on the market for a month and a half and there has been little to no activity, you may want to consider lowering the price.

The VISIBILITY factor is important as well, because the more people that know your property is for sale and can see its value, the better the chances of selling it. It's also important to have a huge internet presents since 90 % of all buyers today begin their home search on the computer. Being associated with a recognized real estate company and a high profile agent is also important.

Best wishes,
The "Eckler Team"
0 votes
Linsey Plane…, Agent, Rancho Santa Margarita, CA
Thu Nov 6, 2008
Rockinblu,

I agree that photos are certainly not above price. My list of to do's to attract buyer showings is certainly not in order of importance. Price is always first and foremost.

I have no problem with a lot of photos but I see so many agents put in photos that don't tell a story, intrigue a potential buyer, or draw emotion. The post on my blog attached is an example of that. Photos in and of themselves, are not valuable unless they inspire the imagination of a buyer that is looking for their next 'home'.
0 votes
Carol Bromm, , Babylon, NY
Thu Nov 6, 2008
What kind of feedback did your Realtor get from the few who did look? Are your neighbors that are priced higher getting showings also? They may also be overpriced. Buyers out there are looking for value. You may be considered a value compared to your neighbors, but what about a few blocks over or the next town?

How is your curb appeal? Is your home inviting or are your kids toys all over the yard? Make sure your steps are in good repair and railings painted. Put your trash bins out of sight.

Ask your Realtor what price would you need to list it for to sell it within one week. Be prepared, you may not like what you hear.
0 votes
Robin Coons…, , Phoenix, AZ
Thu Nov 6, 2008
Your house has to stand out. How about open houses? I try to have my houses open every weekend, with balloons and great smells. If your agent can't do it borrow their signs
Web Reference:  http://www.robincoons.com
0 votes
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