my house for sell has had 26 showings but no results. It is 25 years old but in excellent condition, priced right according to my agent. Help

Asked by Jay, Arlington Heights, IL Sun Jul 18, 2010

house gets showings but no results.

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11
Jennie Spall…, Agent, Vernon Hills, IL
Thu Nov 4, 2010
Hi Jay,

Hopefully your house has sold by now, since your question was posted back in July! If you're still on the market and have already lowered your price, another common reason for "no offers" is appearance. I often advise my sellers to "stage" their house, either with my professional guidance or that of an actual Stager whom I recommend. We either detract, add, or move items into another room. It's also important that the house is painted in a neutral color and appears inviting to the eye when a prospective buyer walks in. Of course decluttering is a must! Good luck....
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Jeanne Feeni…, Agent, Basking Ridge, NJ
Thu Oct 21, 2010
As I often do, agree with Deb. 26 showings and no offers is a pricing issue - my recommendation is to make an adjustment promptly so you do not lose the attention of the buyers that have been drawn to the home. The first test of price is activity - and yours has been quite good. The next test is the "pen to paper" test, ie, an offer. The absence of either comes down to price.

Another idea, try a "reverse offer". If you've got a buyer or two who have expressed some interest, talk with your agent about going out to them with an offer to sell ~ you don't see this much, but it is an idea that intrigues me. You may want to give it a try. Can also provide some feedback on the price you may be considering for your adjustment.

Good luck to you,
Jeanne Feenick
Unwaveirng Commitment to Service
Web Reference:  http://www.feenick.com
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Laura Brune, Agent, Fort Wayne, IN
Thu Oct 21, 2010
You can ask a number of brokerages in the area and probably find that same number of varied answers on how many showings it takes to sell your house. But they will all agree that if you have had 26 showings, you have a home that has been marketed to tap into the interest of a substantial number of buyers. If you have had 26 showings, you can be sure you need to drop that price and fast so that you can take advantage of these same folks as well as many others. Buyers will buy if you are priced right. What is the 'right' price? Very simply--the price at which a buyer will buy.
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Debra (Debbi…, Agent, Livingston, NJ
Thu Aug 5, 2010
Jay, believe me, we all feel your pain......I have a current listing that I THOUGHT was priced right initially - but it is still sitting after 90 days, 2 reductions, and a number of showings - unfortunately, my sellers won't agree with my assessment of the situation.

I have to agree with the other agents here - what jumps out are your words "priced right"...........the only opinion of price that matters, is the buyer's opinion. In your case, after 25 showings, the buyers are telling you they are not perceiving value.
Price is the great equalizer - get the number "right" and you will get an offer.

Multiple showings indicate that there ARE buyers out there - encourage them to make an offer - meet with your agent, and come up with a better pricing strategy!

Best wishes..........
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Karen Pawlak, Agent, Arlington Heights, IL
Thu Aug 5, 2010
I agree with the other professionals when they say Price. Since most of the buyers are looking on the internet for PRICE in a specific neighborhood. It may be time to pretent that you are a buyer, and start really looking at the competition. Put yourself in the shoes of the buyer, and see what they are seeing.
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Harold Arnold, , Chicago, IL
Thu Jul 22, 2010
I would add some incentives if you meet the criterion of priced right, shows well etc. Some thoughts: seller pays for points, seller gives something away or reduced price more: home warranty, flat screen t.v., new carpeting of the buyers choice etc. Hope this helps!!
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Pacita Dimac…, Agent, Oakland, CA
Wed Jul 21, 2010
This list has been repeated quite often, and tweaked a hundred different ways

5 Reasons Homes Don't Sell

1. Your Home Is Overpriced
This is the most common reason a house doesn't move. The phrase "There’s a buyer for every home" often omits the part "at the buyer’s price." Overpricing often works against you. Most real estate agents and buyers will see your listing within 30 days. Your house may not appraise at the figure you are asking and financing will fall through. If your home stays on the market too long, agents and buyers may wonder if there are other problems with the home.

2. Your Home Doesn't Show Well
Since your home may be competing against new homes in new subdivisions for about the same amount of money, you may need a little makeover. A good real estate agent will be able to give you some very helpful tips in this area.

3. You're In An Area Less Desirable Than Others
If your home is in a less than desirable area, you may not have as many options. A good real estate agent will focus on the positives of your home but you may have to lower your asking prices or add some kind of incentive to the buyer.

4. You Are Battling Competition or Market Conditions
We have all heard it's a "buyer's market" or a "seller's market", but market conditions are constantly changing. In a "hot" seller's market, the homes can sell fast and you may even be offered more than what you are asking because inventory of homes may be low. In a "cold" buyer's market, more homes are for sale so buyers can find more and sometimes better deals. There is more competition and you may choose to wait until a more favorable time to sell.

5. Marketing Your Home
The way your home is listed has changed from years ago. Many top performing real estate agents do a multilevel marketing plan. Traditional methods include listing with a multiple listing service, doing open houses, advertising in newspapers. flyers and publication in local real estate brochures. Computers and the internet changed the real estate market. The National Association of Realtors says that more than 86% of all homebuyers use the internet for house hunting. Check with your agent about their plan for marketing your home.
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Eric Egeland, Agent, Buffalo Grove, IL
Wed Jul 21, 2010
Hi Jay,
It somewhat depends on how long the home has been on the market, but 26 showings with no interest typically indicates that home is overpriced. You may also have something in the home that is turning people off after they get inside...e.g. you have great MLS photos of your rehabbed kitchen but the rest of the home is really dated....regardless of the scenario it does come down to pricing.
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Peggy Heimann, Agent, Arlington Heights, IL
Mon Jul 19, 2010
Jay,

I don't know how long your home has been on the market, however one important fact to know is how many homes similar to yours are currently on the market and how is your home priced compared to them? What have been the comments from your previous showings? I like to call the agents who bring their buyers through my listings to get better feedback as to what the clients are specifically saying about the home.
As the other comments have indicated there are many variables and no easy answers without looking at the specifics
0 votes
Doc & Ellen…, Agent, San Antonio, TX
Sun Jul 18, 2010
Hi, Jay,

Your timing is perfect. There was a recent blog that got several comments about this very subject. You can compare your home's presentation to the market with the answers here:

http://www.trulia.com/voices/Agent2Agent/What_do_you_do_to_m…

Doc
0 votes
Terri Vellios, Agent, Campbell, CA
Sun Jul 18, 2010
What are the responses from the agents who have shown? In my experience (in our area) If a home does not receive an offer in the first 10-14 days it is overpriced. Any buyer who is familiar with pricing will not pay more than asking the longer the home sits on the market. If an acceptable offer doesn't come in within 30 days drop the price or you need to evaluate what the showing agents are suggesting.

Is the house cluttered?
Paint not attractive to buyers?
Smell?
Noise?

Perhaps some staging and/or repairs, updates are needed.

You agent should be very honest with you in regards to the pricing and condition. Every day not sold is a loss in value.
Web Reference:  http://terrivellios.com
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