Our house has been on the market for 37 days. We've had 22 showings during the holiday season, but no offers. Agent feedback is great. Why no?

Asked by benlee_3, 15090 Wed Jan 4, 2012

offers? We listed at the end of November and were surprised at the number of showings during what some say is a slow time of year. Agents have been great about providing feedback and all have said the property shows extremely well, nice upgrades/remodel, very clean, and is priced very competitively. I've heard it said that if you have alot of showings, but no offers, the price is too high. Feedback has indicated otherwise, and I just don't believe that to be the case based on the CMA and recent sales. Could it just be that the right buyer hasn't come along yet? Patience is not my strong suit!

Any feedback from the pros out there?

Here is a link to the Trulia listing -
http://www.trulia.com/property/3070427205-2544-B-Pheasant-Ru…

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Answers

16
Jill Banks, , Willingboro, NJ
Wed Jan 4, 2012
Hi Benlee,

Actually, if you're getting a lot of showings, but no offers, then the price usually isn't the problem. Price will definitely bring in the interested buyers, so I think you're OK there. However, when the showings aren't turning into offers, then buyers aren't connecting with the house because of its presentation. Don't get me wrong, your house is clean, updated, and in good condition, but it shows as a bit cold, and could use a few touches to make it more inviting. A consultation with a local professional stager could help you fill in the "blanks" that would make your home irresistible to buyers. To find a reputable stager in your area, visit the Real Estate Staging Association's website. Good luck!
1 vote
Edith Karoli…, Agent, Winnetka, IL
Wed Jan 4, 2012
Just looked at your home..... Does not seem that you need to move around any furniture, May be just the right buyer has not yet come around.... It could also be that there is a lot on the market for the buyers to look at, and
they are not pressed or in a hurry, because we are in a buyers market, i.e. more homes on the market and fewer ready and willing and approved buyers around..... This is the time for Sellers to be P A T I E N T.....
Sorry I know, it is tough to wait and see, especially when you have many showings....

You can always try the apple pie and or pop corn.....
Cannot hurt....

Good Luck to you
Edith
1 vote
Luther Worma…, Agent, Monroeville, PA
Thu Jan 5, 2012
Hi Benlee,

I understand your concerns and it could very well be price. But let's take a moment and look deeper. Your home looks great but there is such a thing as too little furniture. I can see what you were going for but if I walked into the home I'd think, "boy these rooms are small." And that would be my overwhelming impression, that my furniture would not fit.

Also, I notice the lack of art work on the walls. There is almost nothing breaking up the rooms and defining the space. You need to give the potiental buyer a guide as to what they could be moving into. Their is just no direction. Give the buyer something they can see themselves in or something that they would just have to change. Either way they are picturing their lives in the home.

As for feed back, probably some bold drapery that goes to the floor and a few piece of art for the walls would do the trick maybe even a few well placed petite stands. Now, do not use lite oak stained frames, alittle bold art work goes along way. Again no wood stained frames! And let me know how it works out for you.
0 votes
Julie Butler, Agent, Virginia Beach, VA
Wed Jan 4, 2012
I agree with the others, mostly. If a house looks great, shows well and is getting lots of showings, it is most likely the price that is holding buyers back from making an offer. However, the best thing is to ask your agent what he/she thinks, and he/she should be getting feedback from the agents showing the house. That information is very, very valuable in finding out where the problem lies. Good luck!
0 votes
Sarah Goulart…, Agent, Plymouth, MA
Wed Jan 4, 2012
As others have mentioned, have your relator contact for feedback. YOu say the feedback is great, so how about a call to the other agents to see, if it is so good, what the buyers hesitation is? There has to be something. The house shows well and is probably in the correct price range if you are getitng that many showings, but there has to be a reason. Have your agent did a bit to find out.

Also, if possible, have your home put on the agent tour for your town/area/real estate office. Other agents will be very open to share with your agent their feedback with no buyers necessary.

Good luck!
0 votes
Sergio Herna…, , Naples, FL
Wed Jan 4, 2012
You need to ask the people who have seen your property what is keeping them from making you an offer. If you have a Realtor, ask him/her the same question.
Web Reference:  http://www.golftobeach.com
0 votes
Edith Karoli…, Agent, Winnetka, IL
Wed Jan 4, 2012
Well, I wish as Realtors we had a magic crystal ball, to figure out when there are so many viewings whey there are not offers.....

Well there could be a million reasons..... did you have the showings with other agents, or during open houses.
During open houses, often buyers come to see, and sometimes it is not in their price range, Sometimes they
start looking at homes, when they are really not quite ready to buy or want to move when the school year is
over, but they start to educate themselves. Then you could have a couple where he likes the home and the
basement and the garage, but the wife does not like the missing family room or the size of the kitchen, anything could be a reason....

And you are right when you have a ton of showings, or visiting potential buyers, did they all just not like
something in your home, or the location, or or or whatever it could be, or they are not pre-approved yet and
do not even know whether or not they can afford to buy, or may be they did not know how big or small the home was before they came by, and no offers...... General belief is that the price may be too high....

But if your Realtor shows you the comps and comparables that have sold or are competing with yours, you should be confident about the price. Is it something you could change about your home, in view of for example staging, moving furniture around, paint a wall or two in a more dramatic darker tone.... We here do not know your home and location, so hard to tell.

Discuss with your Realtor, what you could potentially do, may be you just need to put apple pie in the oven, or make pop corn so that potential buyers 'FEEL AT HOME", I will look at your listing...

Good Luck to you...
Edith YourRealtor4Life! and Chicago and Northern Illinois Expert (incl. the upscale North Shore)
Working always in the very BEST interest of her clients, buyers, sellers and investors alike.
Edith Always goes the X-tra Mile with a Smile for her clients! & Edith Loves Referrals
To get to know Edith as a person and on add. pages on her website learn about how the
expertise and services of a Realtor are helpful ... go to http://www.tinyurl.com/MeetEdithHere
0 votes
Scott Godzyk, Agent, Manchester, NH
Wed Jan 4, 2012
That is an incredible amount of showings, you need real feedback from your agent, is your agent following up for feedback? is your agent showing your hous eso tehy can hear feedback or are they just sending people or their agents through unaccompanied? You need real answers and have to ask your agent for them.
Web Reference:  http://www.ScottSellsNH.com
0 votes
Don Tepper, Agent, Burke, VA
Wed Jan 4, 2012
The fact that you've had a lot of showings means you're priced competitively. People search within price bands for particular properties. In your case, people probably are looking for 3-bed condos (or homes) priced between $175,000 and $200,000. So your listing pops up, among others on the market. The typical buyer says: "Hmmm. That's priced where we can afford it, and it appears to meet our criteria. Let's take a look."

If you were overpriced--let's say above $200,000--you wouldn't be catching those people. They'd never see your listing. You'd get far less interest.

So, while I'm not saying that you're priced properly (you still could be overpriced), what I am saying is that the amount of traffic you've received is a solid indication that you're priced about where you should be. You certainly can ask your agent to run a new CMA to confirm that.

The online photos are OK. Not great--technically, they're a bit weak. But they're not terrible and your home, from the photos, looks nice. Still, you might get more interest if the photos were redone.

But your problem, as you presented it, isn't the amount of interest. Rather, it's that despite the interest you're not getting an offer.

As far as feedback: Bad news. Good feedback is almost worthless. Even dumps generally produce good feedback. It's human nature: Most agents don't like to say anything bad. So they'll search, sometimes desperately, for something . . . . anything . . . . good to say about a listing. I've found from personal experience that when I try to be honest--tactful but honest--about a home's drawbacks, the listing agent often takes offense. Now, if someone offers something negative, or constructive criticism, pay attention to that. But positive feedback is pretty much the standard.

Yes, it's possible the right buyer just hasn't come along yet.

Another suggestion: Ask your agent to follow up with the agents representing the potential buyers. Sometimes it takes persistence, or a reminder that a desirable property is still on the market. If your agent's already doing that, great!

Another suggestion: Annette raises a great point about "issues in the community." Maybe it's not YOUR property, but a nearby one. True story: Near me is a pleasant community of 4 bed/2.5 bath homes built in the 1970s. It's a great place to live. But there are two ways to drive there from the nearby large city. One way takes you past estates on rolling hills, some horse farms, etc. The other way takes you past old, small 3 bed/1 bath ramblers built in the 1950s. A few of them have cars up on blocks, and the lot sizes are small--1/4 acre at most. If I were providing directions for potential buyers, I'd route them past the estates on rolling hills, not past the small homes with cars up on blocks. So, look at your neighborhood and how potential buyers are getting there.

Hope that helps.
0 votes
Monice Ming…, Agent, Wexford, PA
Wed Jan 4, 2012
Your house show very nice. Price, location and presentation determines whether a house can sell fast. The presentation of your house is great. This should not be the problem. It then narrows down to price and location. You cannot change your location, price will then be the factor. Nowadays, condos and townhouses tend to take longer to sell because of association fee and their finacial strength. With 22 showings and no offer, you need to be creative on incentives or have a price reduction.
0 votes
Annette Law…, Agent, Palm Harbor, FL
Wed Jan 4, 2012
Benlee,
There is much we do not know such as the competing homes, are other homes in this community selling, and/or if there is new construction available at this time. However, you have revealed the most important aspect, citizens are responding to a perceived value and coming to take a look. Lots and lots of people.

It may appear one of the following is taking place:
1. analysis paralysis - too many to choose from so the buyer does not choose
2. waiting for a better deal to appear on the market
3. issue in the community
4. value not evident in respect to competition when visiting the home.
5. how many of these looking buyers have made an offer on another home (real important)

You have several options all directed by your motivation or need to sell. Assuming no prevalent urgency, an option to consider is to provide an incentive for the buyer. This incentive must be packaged to deliver a tangible benefit that is a clear value. Such incentives are often less costly than a price reduction and will push the mug womps off the fence. Your real estate professional can discuss these options, how they should be presented, the benefit to the buyer and the cost to you.

Consider buying a few 2012 calendars to give to home visitors in exchange for the answer to one question which they can provide secretly, to your agent or in person (not recommended). The question is, "What would you be willing to pay for this home?" You have many options regarding what to do with that response.

Your recognition that patience is the missing ingredient can be very valid. The answer to the questions in the first paragraph should confirm this.

Best of success in selling your home
Annette Lawrence
Broker/associate
ReMax Realtec Group
Palm Harbor, FL
727. 420. 4041
Web Reference:  http://www.MyDunedin.com
0 votes
Nancy Theys, Agent, Wexford, PA
Wed Jan 4, 2012
If you had 22 showings in 37 days, and still no offers (at any time of the year), then I would say that is a definite sign that you are priced too high. At this time of the year, the Buyers who are out looking are serious buyers, on a mission. I have noticed lately, however,that feedback is not really to the point. Ask your agent to get feedback from the agents that show, and not from the Buyers that view. Good luck!
0 votes
Roland Vinya…, Agent, Sprakers, NY
Wed Jan 4, 2012
Has anyone been there twice? I echo the others about the price and the job your agent is doing. If no one has been back to see tip after another few weeks pass, you might want to consider edging down the price. But for now, just be patient. It is a hard market out there right now.
0 votes
Bev Kalb, Agent, Bally, PA
Wed Jan 4, 2012
In this market buyers are taking their time before making their purchase decision. There are many homes on the market and it is not uncommon for buyers to look at several homes and in some cases 2 and 3 times before deciding on a particular home. The fact that you had 22 showings over the holidays is a positive sign that you are priced properly and your agent is doing a good job with marketing. Hang in there as it is a buyers market and they feel no need of urgency. It sounds as though you have good communication with your agent and he/she will guide you along the right path.
Bev Kalb
Century 21 Longacre Realty
0 votes
Nina Harris, Agent, Williston Park, NY
Wed Jan 4, 2012
Hello Benlee_3,

Most buyers view several properties to make sure they see what is available within their price point and then make a decision. I recently had two buyers come back, after seeing it 3 and 4 weeks ago, who will be making an offer. Please don't let your impatience get the best of you. Seems like your agent is doing her job.

Good luck
Web Reference:  http://ninaharrishomes.com
0 votes
Christopher…, Agent, Tarrytown, NY
Wed Jan 4, 2012
Hi, The fact that you had so many showings out of the gate is a great sign that you are priced right! What I find is that buyers can take longer to pull the trigger if there is alot of competing homes for sale. Now that the spring market is coming up many people want to wait and see what is going to come on the market. People tend to think there will always be something better coming on, which may be true but you'll never buy a home if you live like that. Hopefully the agents have qualified the buyers properly and can help them foucs enough to commit to your home. i always tell my buyers, "if you find a home you love, meets all your needs, and you can see yourself living there why not make an offer?"

Sincerely,

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Represesentative
William Raveis Legends Realty Group
914.406.9023
0 votes
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