We listed 55 days ago & got an offer day 2 ( and lots of showings). Fell thru and we reduced, but now have 0 showings in 3 weeks. What to do?

Asked by Jen, North Richland Hills, TX Sun Apr 17, 2011

We had a lot of showings initially, but now feel dead in the water and we reduced by almost $10,000 (way less than the contract we had initially before it fell thru). All buyers have had positive feedback on our home and it is listed well within the comp range for recent sales. No one has come since we reduced the price. What can we (or our Realtor) do to initiate activity? Also, we have lots of positive feedback on how well it shows and is staged. I am perplexed! Help!

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John Safstrom, Other Pro, Allen, TX
Sun Apr 17, 2011
Lucy is right on with her answer. Several new homes are coming on the market and builders are making them less expensive than existing homes in some areas. They may not have the same amenities or upgrades, but a lower price/monthly payment is what many buyers look for.

A "seller's" home inspection will help your home stand out from all the others on the market - as long as any needed repairs are completed. You can have the inspection reports printed and laying on the counter available for all potential buyers. My reports are electronic, and you or your agent could also email the report to interested buyers. The inspection report will show your home is 'Move-In Ready' and can even make the negotiations smoother once you are under contract to sell.

Good luck with the sale!

Systematic Home Inspections,PLLC
2 votes
Excellent answer sir, I will be reaching out to you next time I have a client up north.
Flag Tue Aug 14, 2012
Don Groff, Agent, Austin, TX
Sun Apr 17, 2011
It is hard to give yo a definitive answer. Austin and the surrounding areas are very active right now. I would ask your agent to find homes that were or are your direct competition. I know you said you are priced well with the given comp range but honestly if you do not have a good feel for what those properties offered it's hard to say for sure if your home is priced correctly.

If you can have your agent pull homes that have sold that were direct competitors that may give you a good idea. If some of them are pending see if you can go and see them for yourself. Until they purchase closes you will not know the exact sales price perhaps but you may be able to see if the homes were actually a better value. Just looking at MLS data is not always enough... you need to go and see the properties. That is why I will often take my listing clients to see 2 or 3 homes I feel will be their direct competition. Go take a look out there and at least then you will know if your home is priced correctly.

Good luck to you!

Don Groff
REALTOR | Mortgage Broker | Consultant
Buy - Sell - Lease - Invest
Keller Williams Realty | 360 Lending Group
o.512.669.5599 m.512.633.4157
1 vote
The United H…, Agent, Mansfield, TX
Tue Aug 14, 2012
"Meeting your needs and exceeding your dreams!"

Thank you for taking the time to reach out and ask a very good question. Feel free to contact me directly in order to help secure your foot in todays market. I will be able to better assist aiming you in the proper direction. Night or day!

Keller Williams Realty
Real Estate Consultant/3xUS Army Vet
Joseph Fernandez
cell: (817)975-7258
off: (817)635-1157

0 votes
Nathan Beckey, , Fort Worth, TX
Tue Aug 7, 2012
Bottom line. If the home is priced right, it will sell. If not, it will not sell. The fact is if people can get the same or equivalent for equal or less they will always go that route. Typically most of my clients are able to lower their listing price to be ultra competitive since their sales commissions to realtors are 4% or less. Listing well within your comp range means your average and people are looking for a deal.

There's other ways to generate leads but unfortunately I'm not your listing agent.

Nathan Beckey, Realtor
(m) 817.691.3602 (e) nathan@exclusivepropertiestexas.com
More Options. More Results.
visit us online at http://www.exclusivepropertiestexas.com
0 votes
Debbie Scri…, Agent, Weatherford, TX
Mon Jun 25, 2012
I am sure your Realtor has already had you look at the competition. There seems to be a feeding frenzy on certain houses and it would be best to figure out how to make your house the very best deal for the money. Those homes get multiple offers while others just sit. I have seen some sell for more than full price. Don't just look at SOLD comps....look at the competition. If you haven't had a showing in two weeks or an offer after 10 showings you are too high no matter what comps say. Be agressive in your pricing.
0 votes
John Straub, Agent, Fort Worth, TX
Mon Jun 25, 2012
Hi Jen
What happened in your situation? Did you ever get an offer? Best of luck to you and if you need further assistance please contact me directly.

Link: http://www.dfwfamilyrealty.info

John Straub
0 votes
The United H…, Agent, Mansfield, TX
Tue Jun 19, 2012
I think many people over assess a situation like this if a house doesn't sell it could only be 1 off 4 things

1. Desirability
2. Condition
3. Price
4. Location

If you live in a desirable area and the condition of the estate is up to pair with your local market. It could only be price and or location. I recommend contacting your agent and request to be shown other comparable estates in your area. I mean actually walk through, no need to go crazy just walk through a couple. See how they compare to yours. This will help you assess your competition then sit down and figure out if your price accurately. I know you’re under representation already however I'm always down to help someone in need let me know if you have any other questions.

Keller Williams Realty
3xUS Army Veteran / Real Estate Consultant
Joseph Fernandez
off: (817)635-1157
cell: (817)975-7258
website: http://www.blissful-estates.com

Ps. Do you see your agent doing their job?
0 votes
John Straub, Agent, Fort Worth, TX
Tue May 29, 2012
If you are still not having showings you may be under the market. In other words you may be priced too low and you are being missed by people searching in your area. I know this may sound counter intuitive but think of ot this way. If homes in your area have an average price of $200,000 and people know that homes in the area sell for around $200,000. You now have your home priced at $190,000 or $10,000 below the average. When people and realtors search they will often put in a top and bottom price. If the showings cut off like a light start looking at the prices of the homes around you. Sometimes being the lowest is not the answer.
0 votes
Edward E. Ad…, , Lexington, KY
Fri May 18, 2012
With any thing that is sitting, the looking gets stagnate, so like a marriage: Spice it up a little! Ask your realtor to use craigslist, do an odd day open house not on the weekend, send out mailers to apartment complexes near by or re-decorate the curb appeal!

People want to see something is going on, a find that a POD in front of the house creates a HUGE buzz, even if you don't need it hahahaha. Your neighbors start the buzz and it flows throughout the area!

Spice it up a little and let me know if you need anymore advice, its free :)
0 votes
Dorene Slavi…, Agent, Torrance, CA
Mon Apr 18, 2011
Dear Jen,
Sometimes we don't get honest answers from the buyers. Speak to the Buyer Agents who will be more forthcoming. Your listing agent actuall should be doing this for you so you know what people are thinking. Since I don't know the particular home, I can't assume it's anything more then price. This market is all about price. Homes that are priced 10-15% below their competition normall sell.
Web Reference:  http://www.doreneslavitz.com
0 votes
Debbie Scri…, Agent, Weatherford, TX
Mon Apr 18, 2011
In this market you must be the very best priced and best condition all the time. Revisit your pricing and make yours the very best today. In this market your home is worth the very most the first day it is listed. Unfortunately your first offer is usually the best and that one did not work our so move on and re-evaluate. Good news is what you are buying is in the same boat so make it up on that end.
Web Reference:  http://texcountryhome.com
0 votes
Tim Cook, Other Pro, Weatherford, TX
Sun Apr 17, 2011
All the answers provided to your question are all great responses and hopefully if you take action on the recommendations it will get your house SOLD quickly. If all else fails please visit us at http://www.SellYourDFWHouse.com or call us 24/7 at 817-550-5069 for a free consultation. We Buy Houses all around the metroplex and may be able to buy yours.

Good luck
TMC Property Solutions
0 votes
Jackie Rankin, Agent, Fort Worth, TX
Sun Apr 17, 2011

I might add to the already great answers you have received, to have your Realtor pull the statistics from CSS (Centralized Showing Service) on homes in your area and price range. You might see that all homes similar to yours are seeing a slow down in showings. Or you might see that they are showing more, which would definitely mean you might have a problem. I recently had a listing that initially had 10 showings the first week it was on the market. Then it slowly trickled down to 1 showing a week. My sellers were concerned so I pulled the CSS statistics and showed them that it wasn't just them. Showings picked up about a week and half later and we contracted and closed on it shortly thereafter. Hopefully this is what has happened to you! Good luck!!

Jackie Rankin
Tru Value Realty
0 votes
Lucy Puniwai, Agent, Haslet, TX
Sun Apr 17, 2011
PS 76182 Just noticed the area you are selling. One thing I do when listing a home is I pass out flyers to Churches, nail salons, and advertise an Open House. Advertise a Home Depot gift certificate or a 32 in flat screen tv. Ask your agent to do whatever is necessary to get more traffic.

Once again, best wishes!

0 votes
Lucy Puniwai, Agent, Haslet, TX
Sun Apr 17, 2011
I am on board with Don however every market is different. 55 days ago there were not as many new inventory spec homes ready for move in as there are on the market now. Buyers are comparing the price of pre-owned homes versus brand new and all the warranties that come with it. One thing that might prove as an incentive, instead of dropping the price, maybe you could offer to help pay closing costs? Buyers in certain budget ranges need help in paying cash out of pocket. Your Realtor could also offer a Realtor bonus if Buyer closes in say, 45 days from the date you offer the bonus. If the home was ever appraised for an FHA loan, once that happens, the appraisal stays with the property for 6 months. This impacts the amount a bank will finance for your property.

Have you had an inspection done? Sometimes Buyers are motivated to know the Seller has already had an inspection done and you can post the results on the MLS. The Buyer will gain a sense of security when knowing the home has had a 12 point inspection done recently.

I hope you start to get Buyers again. I am seeing in Keller, Haslet, Southlake and Colleyville homes that are selling pretty quickly so I let my Buyers know, if you like it,. make an offer!

Best wishes to you Jen!

Lucy A. Puniwai
(214)783-6416 - Cell
(682)224-8050 – Fax

0 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Sun Apr 17, 2011
Sit down and talk with your agent - generally lack of either offers or showings = pricing problem. Price cures all, my suggestion is to adjust the price. PErhaps since you had such early success the market lost sight of you - discuss a reintroduction with your agent - another Broker Open, Open Houses push, refreshed online marketing. Do it all, but above all, consider price.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference:  http://www.feenick.com
0 votes
Dallas Texas, Agent, Dallas, TN
Sun Apr 17, 2011
You can have the perfect home on the market for years AND have ugly home with bidding wars.

April is difficult month with spring break & Easter Sure things will pick up May

Not knowing where your home is located , pictures, efforts to market, list price, DOM no professional can render an opinion

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes
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