My house has been on the market for almost 4 months and we haven't had hardly any traffic.

Asked by Stephanie, 36532 Sat Sep 13, 2008

We have lowered the price twice and our price matches others in the area. For some reason we haven't had a lot of traffice come through. It really is a great house. There isn't any work that needs to be done. It's literally move in ready. It's also in a perfect spot, convenient location. I'm not sure what to do. I don't live in the area anymore so I am counting on my realtor to bring people by there. Unfortunately, I don't think a lot of people have come to see the house. Is there any way to get the word out besides the newspaper and internet. We've had open houses and our realtor finally suggested a realtor's open house, after I suggested it 3 months ago, but wants an additional 5% to do it. I don't think that is right. I'm very close to emailing realtors in the area asking them to please take people by my house. Please help me. We can't keep paying our mortgage, rent in Atlanta, and take care of a 19 month old! We also have it up for rent and will be lowering the price.

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17
x, , Wesley Chapel, FL
Wed Jan 26, 2011
Make sure there is a Virtual tour of your home and 24 photos if possible and staging and cleaning all of these things will help.. but the price has to be in line.... maybe offer a bonus for other Realtors to bring in their buyers?
Is your home with a MLS and does your agent have a website? Good luck to you and I know this is stressful and you need to just make sure your Realtor is doing all they can.
1 vote
Kevin Brisky, Agent, Minong, WI
Wed Jan 26, 2011
Stephanie,

I think that renting it out will help you out! It will give prospective buyers a picture of what the house could look like. Hopefully you get good renters in there.

As for other ideas, I'd suggest that brokers open house, and if your agent is unwilling ask for a withdrawal and find an agent who will do all they can to sell your home!

Good luck.
0 votes
Urbplanner, Home Owner, Fairhope, AL
Wed Jan 26, 2011
I am not a realtor but a former real estate appraise and I did recently buy a house in Fairhope. I continue to view listings on Trulia for the area. My comment is that pictures provided of the house are critical: I see houses that are so cluttered with furniture that they look unliveable. Alternatively, I see houses where the pictures show a stark white sheetrock box with light bouncing off appliances or half the detail wiped out by an open blind permitting blinding sunlight (high utility bills too that) . Even diminishing the white contrast setting of the camera would help. For the money, one of the photo guided tours that slowly goes thru the house is really eye catching. ( NOTE: I would ditch the accompanying music though, too taste sensitive. Plus, some sound like the music played in the background at funeral homes) I would add more than 3 pictures including some of any exterior features such as tool shed, patio. Bottom line: If you are going to just slap up three quick digital photos without thinking of what they show, dont. Finally, a listing on Trulia without pictures is a complete waste of money/time/etc.
0 votes
Marc Blasi, , Palm Beach Gardens, FL
Thu Jun 25, 2009
So did it ever sell?

BTW - charging to do a Broker's Open is ridiculous - don't ever fall for that!

If the price is in line with the comps, and you're still not getting showings, there is something wrong with the advertising. Forget print/newspapers that's old school - you need to see that your home is all over the internet because THAT is what will work.
0 votes
Shane, Home Buyer, Alpharetta, GA
Thu Jun 25, 2009
Have you sold your house? Have you bought in ATL? Reason I ask is we may be going in the opposite direction (selling in ATL to move to Fairhope)
0 votes
Sandra Harper, , Fairhope, AL
Fri Sep 19, 2008
I have not heard of a charge for the seller to host an open house. Have a discussion with your agency and see the list of who has shown your home, signage, and advertising that has been done. An ad for a home needs to be adjusted occasionally and see if it is on the multiple list service in the county. Thanks, Sandra
Harper
0 votes
Jolie Muss, , Upper West Side, New York, NY
Thu Sep 18, 2008
Stephanie,
I have never heard of a charge for a broker's open house either! Do they provideyou with a list of people who have seen the home? Have they put a visible sign on it.? Can you find it on Trulia? What about curb appeal and staging? Often it's hard for a buyer to "see" themselves living in a home if it's empty..A creative idea might be to see if anyone might be interesting in trading for a home in Atlanta (depending on your agreement with your broker.) Of course lowering your price can help as well!
Web Reference:  http://joliemuss.com
0 votes
Bill Eckler, Agent, Venice, FL
Tue Sep 16, 2008
Stephanie,

It doesn't matter how many time you have already dropped the price......the key here is continuing to drop it until you finally catch up with the market.

We had a customer that turned down $410,000 for their home only to sell it more than one year later for $310,000. The problem was...they were in denial of the market and would drop the price after others in the neighborhood had done the same and never quite finding the bottom ......until they finally saw the picture.

Seeing the picture now might save you thousands.....find the bottom and you'll find your buyer.

Good luck,
0 votes
John & Linda…, , 36526
Tue Sep 16, 2008
Hello in Fairhope! Linda and I are Full Time Realtors in Baldwin County. Let me see,
Below are suggestions, and we must give respect to the Current Listing Agent that you hired.
WE can and will share more however, our out of the box ideas are used for our Real Estate Business
The Cramer Team with Prudential Nichols Real Estate.
However in the meantime, due to your situation, we'll share just a few ok? Ready?
#1 Realtor open house? Good .. but it's usually done for free! (at least that's what we do!) Ususally we work in coordination with other realtors .. and we have various ideas to get realtors to preview your home, thus increasing your odds and the more realtors know about your home and the ammeneties the quicker the sales.
#2 (4) months on the market and not much traffic? Well we would need to see your home, location, curb appeal, price currently listed at, review the comps and see what has changed in the past 120 days. Sounds like your under some stress 2 notes and a 19 month old! Time is the issue with you, so your going to need to be more competitive than the other listings. Which means and this hurts to say, but you really need to be offering a competitive price. If anything have your agent lower their commision, so you can lower your price yes both of you will feel the pain, however the end result is what you and your agent want, this may get things moving quicker, you did say you need more traffic and you are looking for results correct? Yes you do need some new figures so ya'll make an intelligent decision as how to proceed forward.
#3 Yes, to answer the question about getting the word out. One of our out of the box ideas we use is,
chances are when you lived here, you or your wife were members of a church or organizatioin, perhaps even a MOM"S Day Out Organization, hopefully you'll see where I'm going. Chances are you and your wife have a list of names of people who know / knew you. Linda and I make flyers and mail, and email them to those people you were associated with with the simple statement. An example would be like this:" Bob and Alice, have a home here in Fairhope for sale here are the pictures, and stats, if you or anyone you know might be looking for a 3/2 1500 sq ft... etc.. etc. etc. then give us a call, we would be honored to show the home and help them fullfill their dreams. Get the idea?
We also have other out of the box ideas that we could share with you that could assist you and your family.
In the meantime, it truly sounds like you need to be communicating with your Agent, and going over the details, and I mean details as to how you home can get sold.
Best of Luck to you.

John and Linda Cramer
Prudential Nichols Real Estate
251-599-5799
Web Reference:  http://cramerteam.com
0 votes
Scott Godzyk, Agent, Manchester, NH
Mon Sep 15, 2008
First of all is there should not be any charge for a broker to hold a broker open house. Are you using a discount broker or a full service realtor. If you are not happy you need to communicate that to them, tell him what you want and if you are not happy ask for a release of teh listing as there are good agents who willbe willing to go that extra mile. You should also ask for an updated brokers price oppinion to see if you home is priced correctly. If he is advertising ask for copies of teh ads. If indeed he is and there are no showings it coulod be the price. if not then you cant catch fish without the bait. you need ads to bring people in. as far as emailing other brokers to bring peopl eto your house you are wasting your time, a broker will sopend their time taking people to their listings not someoen elses. Also check to see is teh broker offering a 50/50 cobroke fee to buyer brokers? if not that could be your reason . as well are they doing acocmpanied showings. Are they allowing unasisted showings which means unaccompanied people in your home? make sure they are full service. good luck with your sale Stephanie, you are going to have to get on the phone and get some answers to get your home sold.
Web Reference:  http://www.ScottSellsNH.com
0 votes
Jay Knorr, , 36830
Mon Sep 15, 2008
First of all, are you using a discount broker? That. to me, could be the only reason why they're asking for an additional percentage for an open house. Ridiculous! Run don't walk.
Second, why did you buy your home? Great master bath, large kitchen, awesome countertops, fenced-in & private backyard? Is that information (why you bought your house) listed in any of the marketing material?
Third, almost 90% of all buyers look on the internet FIRST. Is your agent advertising on the internet?
Fourth, pricing is key in today's market. Look at the houses that are comparable to yours. Are the prices comparable. If you have a home that is more unique, look at price per square foot.
Hope this helps. Good luck!
0 votes
Luke, , Nashville, TN
Sat Sep 13, 2008
Offer the agent a bonus for bringing in a buyer? We have two answers to your question from "real estate professionals" trying to get MORE money out of your pocket. WOW, the greed. Jeff and Mary seem like agents that would put their interests first, not their clients. Sad.

Also, get rid of your Realtor...an extra 5% for an open house...thats absurd.
0 votes
Keith Sorem, Agent, Glendale, CA
Sat Sep 13, 2008
Stephanie
The problem is that homes are selling (see link) just not yours.
So what to do?
You should know that the buyer first sees the home they purchase with a Realtor 90% of the time. So if your homei is not being shown, the Realtors and their buyers are not on vacation, they are looking at and buying other homes that show better value. The easiest way to increase value is to lower the price.

As you Realtor, since your home hit the market, how many homes have:
1, Come onto the market
2, lowered the price
3. Entered escrow
4. sold
5, expired.

PRice is based on results. No showings, lower the price.
0 votes
NANCY LOCKLAR, Agent, PELL CITY, AL
Sat Sep 13, 2008
I hear this from clients of homes that are either overpriced or blend in with the rest. Todays buyer wants the awe experience when they walk in. Ask your agent to verify that the comps in your area are still the same they were when you bought the house. Then ask them to pull all sales in your price range for the last 4 months. It is a tough market and you may want to go in and put in small updates or paint the outside. You really as a seller have to do something to make it shine.
In saying that if you can find you home on the internet easily and you see it advertised then your agent may need to also think out of the box. Maybe advertising it on other websites that show up when you google homes in your area.
0 votes
Linsey Plane…, Agent, Rancho Santa Margarita, CA
Sat Sep 13, 2008
I'm going to disagree with the bonus. Sorry guys. A bonus to the agent won't get a buyer to like your home or even to want to see it. Your home has to look like the best deal in the neighborhood. When you say that your 'price matches others in the area' then you are too high. You must look like the best house at the best price to motivate a buyer to want to see it and subsequently write on offer.

I'm not sure I understand the additional 5% to do a Realtor open house. But either way, the best tool is to make sure your home looks great, with great photos, where the buyers are - online. Open houses don't generally work; they are a lead generation tool for agents.

Price it low enough to generate traffic and offers. If you can't reduce it, you might go ahead with your plan to rent it out.

Best of luck to you.
0 votes
Mary Galgon, Agent, Bensalem, PA
Sat Sep 13, 2008
I agree with Jeff, a selling bonus is a nice way to bring realtors into your listing vs. another. In addition, price is not the only consideration, you need to have an edge to draw that traffic into the door. The internet can be very effective. Is the home vacant and unfurnished at this time? If it still has furniture, try and look at your home like a stranger would and try and de-personalize it a bit. Sometimes this helps. Good luck and be confident. if it is priced-well, it will sell. In today's market, it now takes a bit longer due to the strong competition. Good luck:)
0 votes
Jeff Powell, , Saraland, AL
Sat Sep 13, 2008
You might consider offering a bonus to an agent who brings you an accepted contract. The bonus should be a flat fee, ie. $5,000 or $10,000 selling bonus. However, if you are priced outside the market it will not work! If you want to sell in this market your residence must have a competitive advantage over its counterparts. Price.
0 votes
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