A good rule of thumb for most markets is two weeks with no showings means you are priced too high. Ten Showings with no offers usually means you are either priced too high or your home doesn't show well. To sell a home in this market, it must be sparkling clean, in good repair, move-in ready, and priced right @ market.
Price per square foot varies due to many factors. Generally, a smaller home will sell at a higher $$/SF than a larger home in the same neighborhood. A 1-story home may bring a little more per SF than a 2-story, because it doesn't cost that much more to build a bigger home or to add a second story. Extra features don't add much to the price per SF. Instead, they serve as tie breakers... if everything is equal, I'll choose the one with granite counters, etc..
The biggest factor to get showings is effective exposure to the widest possible market. Over 85% of today''s Buyers start on the internet, so your home MUST be on every available Real Estate website. The more COMPELLING pictures you have, the better. A Virtual Tour is almost a must these days. Many Buyers won't even look at an online listing that doesn't have the maximum number of pictures and a sizzling virtual tour.
Once they find your home, you have to make it easy to see. If you don't have an agent to pre-qualify potential Buyers, you may find yourself flooded with non-qualified Buyers, looking for deep bargains, design ideas or just curious. Some may be looking for an opportunity to steal. IF you do find a buyer who can qualify and loves your home, then you have to make sure that you comply with all the disclosure laws, negotiate the contract properly, manage all the details that can derail an otherwise perfectly good transaction, and get the transaction closed and funded. Even the most experienced REALTORSÂ® and Loan Officers are finding it challenging to navigate the rapids of today's tightened lender underwriting requirements.
Because of the increasing complexity of contract details, and to save time and frustration, the great majority of Buyers use an agent to help them. Local agents have access to 99%+ of all the homes on the market, they have current stats available about pricing and market absorption, and they know the neighborhoods. Serious Buyers don't usually have time to explore For Sale By Owner homes. Those who do are generally looking for big bargains or distressed properties.
Doc Stephens, REALTORÂ®