Home Selling in Milwaukie>Question Details

Timisha, Home Seller in Oregon

We have been showing the house for about three months. Average showings are 3-4 a week with many second and

Asked by Timisha, Oregon Fri May 16, 2008

third looks! If we haven't received any offers what could this possibly mean if the house shows frequently and we get RAVE reviews as to what a beautiful house it is?

Help the community by answering this question:

Answers

11
Betsie Taber’s answer
Hi Timisha,

There are 4 factors that contribute to how succesful you will be in selling a property. The location of the property, the exposure it received, its condition and its price. From what you are saying, it must be in a great location because people come back and see it. It also get great exposure because of the repeat showings and the number of showings. The rave creviews that you get are a testimonial to its great condition. Guess what? Its price IS the problem. Drop it and things will happen fast. Your agent should be able to tell the price range that would get you offers. Good luck and all the best.

Michel
1 vote Thank Flag Link Thu May 22, 2008
Timisha;

Review your price. We are marketing about 100 hoems right now in my team. We are marketing hard. Many of our homes continue to get traffic. We get great comments as well.

In almost 100% of the cases in this market it is the price. Buyers have to perceive your value as something exceptional both as a home and as a price value within the range.

Here is a quick marketing 101 review.

There are 3 factors that effect your ability to sell:

Product: the home itself. You need to make it as nice as you can. Based on your comments you have doen that.

Promotion: I am not sure what your broker is doing. But he / she must be doing somethings right because they are getting you showings. If you are going by owner I can bet that that may be a part of the problem. Buyers will not be honest with an owner face to face and do not want to deal direct in this market.

Price: This variable is the easiest to control. My guess is you may be just a touch to high and at some lower leve you will sell this home quickly.

We have a great feedback system and we get 80 % of all agents to give us feedback via the web. When we have a price issue we know it ahead of time. This is what you need to know.

Best wishes and look at those three aspects.

Thanks;

Dirk Knudsen
Re\max Hall of Fame
#1 Rated Re\Max Team in Oregon
503-799-8383
Web Reference: http://www.nwhomecenter.com
1 vote Thank Flag Link Sun May 18, 2008
I doubt your problem is price. People search within a price range, so most of the people who've looked (3 a week for 3 months is about 36-40 people) can afford your house, or at least come close enough to feel they can make a reasonable offer on it.

I'm not a mindreader, but when the people drive up, they have some expectation in mind--maybe from the listing, from online photos, etc. And they know the price. They come in. And then...something happens. You're not raising the price on them, so it isn't the price. But there's some sort of disconnect between what they're expecting (and what they're looking for) and what they're seeing. And whatever it is is significant enough that they're not even making an offer. Look, in today's market, some people have no fear about making low offers. But you're getting so many people, it's not likely the price. They're coming in, and then they don't even want to make a low offer.

Yes, you say the house gets "RAVE reviews." You'd be surprised at how polite people try to be. And I think the clue is in that statement "RAVE reviews as to what a beautiful house it is." Believe it or not, that's not the reaction you want. You want people to come in and be able to easily imagine themselves living there. They have difficulty seeing past the unique art on the walls, or the artwork you picked up during the 5 years you lived in Asia or Africa.

Get a good home stager in there. Get a straightforward evaluation of whether your home is staged properly. I suspect that's where your problem may be.

Also, while I'm not familiar with the technique of smudging that Anna refers to, I know a little bit about feng shui. Also, I'm a Third Degree Reiki Master--and inanimate objects, as well as animate objects--can benefit from Reiki. I know all that sounds a bit "out there," but Anna's correct: some houses just don't quite "feel right." You might look into any of those techniques. But first, consult a good home stager.

Hope that helps.
1 vote Thank Flag Link Fri May 16, 2008
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
Timisha-

I understand your frustration; it's tough when a Seller isn't getting offers on their house.

Is your house listed with a Realtor or are you trying to sell on your own? If you are listed with a Realtor and in the local MLS, your prospective buyers should have been prequalified by their agent, and they're probably legit buyers. If your condition and location are good and you're not getting offers - price is usually the issue.

If you're trying to sell on your own and not receiving any offers, it may very well be a marketing/lack of exposure problem; the qualified buyers don't know about your house. It's becoming quite difficult to sell by owner in this type of market without using a professional. The vast majority of "buyers" who contact a by owner are NOT qualified to purchase for a variety of reasons. And again, price is usually key and has to be thoroughly evaluated by a professional with a track record in your area.

Buyers use comparison shopping when purchasing a home. There’s a lot to choose from in most markets AND houses are still selling.

If you are trying to sell by owner and want some ideas on how to get it done, just call me; I’m selling properties in the Milwaukie area on a regular basis. If you're with an agent, discuss what they're doing to market your property and have them give you an updated CMA - based upon this market; not last years...

Best of luck!
1 vote Thank Flag Link Fri May 16, 2008
I think the verdict is in.. price and exposure are key....
Web Reference: http://GetPrequalified.com
0 votes Thank Flag Link Thu May 22, 2008
This is all good...you are getting good attention. It's a matter of finding the right match abd this happens because of visibility, which you are getting.
People are looking because it is within their price range. We would be more concerned if this interest dropped off. When activity declines so should the price.

Good luck,
The "Eckler Team"
Century 21 Almar and Associates
Venice, Fl 34285
ecklerteam@comcast.net
941-408-5363
0 votes Thank Flag Link Thu May 22, 2008
Unfortunately it all comes down to price. At the right price it will sell. The market is never wrong. You may want to order an appraisal or get recent comparable sales to look at.
Web Reference: http://getprequalified.com
0 votes Thank Flag Link Tue May 20, 2008
Maybe set up a audio recorder and tape a couple showings to see what the people say. What the agent says to your agent after a showing isn't either a complete or true description.
0 votes Thank Flag Link Tue May 20, 2008
Sometimes it is not the price, check with your realtor as to what people are giving as a feed back Also check on there feelings they have about the house My friend whom is native american and a retired therapist believes in cleansing a home by the use of smudging
I 've personaly have done it with homes in my area and it seems to help Barbara Corcoran from the corcoran group discusses it in her book I've personaly have been in homes where I just could not get comfortable, or even was very nervous Talk to your agent about what the buyers feel
I understand this is not your normal responce, and yes you can always reduce the price till it sells
0 votes Thank Flag Link Fri May 16, 2008
Hi,

Statistics from NAR indicate that IF you are getting a dcent volume of showings and you aren't getting offers, then your pricing may be about 5% too high. What Vivian said below is so true. Many people feel uncomfortable offering significantly lower than your asking and might hover until you lower it.

Your volume of showings seems actually very good so I don't think its an exposure issue.

Best of luck!
0 votes Thank Flag Link Fri May 16, 2008
Yes, it would be a matter of pricing. It seems that people feel that their genuine offer would be too low from your list price, or at least one of these showings would produce a contract. Especially on a 2nd or 3rd visit. Best of luck with your sale! Vivian
0 votes Thank Flag Link Fri May 16, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer