What else can I get to do to get people to view my home? It looks great, its priced competitively....where are the buyers?

Asked by Cyn, Greenbrier, TN Mon Aug 16, 2010

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8
Megan Manly, Agent, Nashville, TN
Mon Aug 23, 2010
First, Cyn, let me apologize that no local agents weighed on this yet. We're usually pretty quick on the draw. Now, let's get to the facts. Currently in Greenbrier, there are 136 homes on the market. Of those 136, nine are under active contract. There are five homes pending sale. Since May 1, 2010, 39 homes have closed. That means 13 homes each month in the city are closing. That translates into a 10 month supply in the city as a whole.

Of those 39 homes, here's the price spread:

9 homes under $100K
13 homes between $100K and $150K
7 homes between $150K and $200K
10 homes between $200K and $300K

If you're home is under $100K, you can expect it to be on the market for 2-3 months.
If youre home is $100-$150K, you can expect it to be on the market for 8-9 months.
$150-$200K = 20-21 months
$200K+ = 12 months

So, if you're home is priced above the $150K market, patience is going to have to be your friend over the coming months. It's the simple law of supply and demand. There aren't enough buyers in Greenbrier right now to meet the supply. If you're home is below $150K and you've been on the market for over 6 months, your time is nearing.

So, "competitively" is all relative in the Greenbrier market. In response to your question, where are the buyers? They are there, there's just fewer of them. What can you do to get people to VIEW your home? Well, viewing and buying are two different issues. If you want more views, raise the price to $30M. I'm certain everyone will flock to through its doors to see a $30M home. If you're looking to get REAL buyers in the door, unfortunately, you're going to be better served to hope for a few quality buyers in the midst of this supply demand slow down.

It would be great if you could post your address, that way we might all be able to give opinions on marketing, price, location, et.al. All the best!
2 votes
Tina Self, Agent, Nashville, TN
Tue Feb 1, 2011
Cyn,

I agree with Brian's response. The other thing to look into that I would add to his remarks is check with your Realtor to see what they are doing for marketing your property. Are they placing it on what websites? Are they doing Open Houses? You may need to sit down with your Agent and you both brain storm on how to draw more people into your home. Unfortunately, there are agents out there that are part time or may be full time but not putting 100% into their job. I am not saying this is your Agent. But every agent should have some marketing plan and should be able to share that with you.

Just some additional thoughts.
1 vote
Dianne Hicks, Agent, Rancho Bernardo, CA
Mon Aug 23, 2010
Cyn
Just wanted to say Brian gave a great answer and toke the time to be very thorough. Thumbs up from me.
1 vote
BethAnn Long, Agent, Spokane, WA
Mon Aug 16, 2010
Buyers are much more scarce than in the past. It is certainly frustrating for sellers.
Price, Location, Condition and Marketing plan are the 4 main things to consider. Some are also offering extra incentives for buyers. It only takes ONE, hang in there!
I wish you the very best.
Web Reference:  http://www.BethAnnHomes.com
1 vote
Mitch, Home Buyer, Spring City, TN
Wed Aug 8, 2012
Others may like "new carpet " But I am allergic to the dust and mold that grows in it.Dont install it.Use hardwoods or at least laminate. Also dont paint over natural wood.Esp inside.Sell it quickly as the money as well as property values are still dropping,A BUYER!! Thanx And dont do cheap repairs..us older folks know better.
0 votes
Janet Nation,…, Agent, Baldwin, NY
Mon Aug 16, 2010
How long has it been on the market? How much activity is your listing generating, that will be helpful to know? It will give us an idea if you are on the right track. Your opinion of your home looking great and priced competiively might not be subjective.
0 votes
David Poulsen, Agent, San Francisco, CA
Mon Aug 16, 2010
School is back in session tomorrow here in California, which means people are back from the last of their summer vacations and back to look at homes and resume their lives. Be patient, they will come, as long as you have priced your home right.
0 votes
Dan Tabit, Agent, Issaquah, WA
Mon Aug 16, 2010
Cyn,
If the Tennessee Market is at all like the Seattle market, wait until school is back in session. Things are slow in our area right now as people are squeezing in the last bit of summer. Good weather, travel plans, bar-b-ques are all competing for a buyer’s time. If things don't pick up by mid September, re-examine your marketing materials, pictures, descriptions and of course price.
0 votes
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