Profile picture for Mblittle12

Encourage an offer??

I've had multiple showings on my house.  More recently, I've had 3 different showings that were all very promising and the agents have relayed that they loved the house and were interested.  One we know for sure it's the only one they loved--at the top of their list.  However, there have been no offers.  I want to get this done with.  Stat.  And I don't want to lose them either.

Any ideas for encouraging an offer???

I'm already priced under what I owe, so I don't want to reverse offer even lower.  I'm already throwing in $1000 cash at closing.  I have also offered to discuss furniture they might be interested in me leaving.  All appliances stay.
  • September 24 2013 - US
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Answers (17)

Profile picture for Mblittle12
Thanks to everyone that offered some great ideas!  At about 7 months in, you start to feel like you're hitting your head against the wall.  Especially when you're priced based on comps and the area, the house is in great shape, and everything seems lined up.  

To clarify, because some have indicated that maybe i'm mistaken, 2 of the 3 I was referring to have actually said to my agent something along the lines of "my clients looked at x number of other homes and yours is still their top."  Both of them also indicated that their clients weren't looking at any others since.  My agent also followed up with questions asking if the home suited their needs (since we have had some people who came to look at my 2bd but were wanting 3) and they both said yes.  They loved the area, the house, it suited their needs, etc etc etc.  My agent even asked one of their agents flat out "what would it take to make this happen" and his response was "I don't know why they haven't made an offer yet.  Yours is the one they want and love"

SO...unless the agent is super good at lying...I think it's safe to say they are very interested.  Of course, they could be lying to their agent also...or decided not to buy...or a number of things.  But i'm not taking "i love your house" as "i want to buy your house" that willy nilly :)  For both of these, the agent has indicated that my house lines up with what they're looking for.

Some of you could absolutely be right and that both of these parties do want the house, but the price isn't right.  I guess my question for that is still why aren't they offering what THEY want to pay then??  I can't guess as to what is holding them up unless they tell me...or tell their agent.  And I don't want to keep dropping a price if that isn't the issue holding them back...then i'm just kind of screwing up myself.  That's what I was hoping for---something that could motivate them enough to make A offer. At least it's a point to start from and we can work from there.

But they're not presenting us with an offer.  My agent had suggested that maybe, since it has been on the market for 6 months, that they are just taking their sweet time.  They don't feel any pressure to act.  Since she's already verified with both agents that the home fits their needs, budget, etc.  It's as valid of a guess as any sadly.  But also the most frustrating.

Along the lines of some of your suggestions, I think i'll take the $1000 cash at closing off the table in regards to the listing itself.  Then I can save it as a motivational tool to offer "$1000 towards buyers closing costs".  

I've also been thinking more about the reverse offer...but when I don't know what the buyers hold up is, like I stated above, it makes me hesitant to do that.  If money isn't their holdup, then i'm just screwing myself up.

You guys are all agents it sounds like and I so much appreciate your feedback.  Thank you!!!!  I wish there was someone that could just tell me what to do!!! haha.  Do these 3 things and we'll get an offer!  Alas...there is no such thing and i'm just stuck.  My agent is at a loss also.  I don't know if I should drop the price, take it off the market for awhile, get a different agent, etc.  I just have no idea...and with no idea, I have no clue what to do next.  

  • September 25 2013
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Profile picture for Rhonda Duffy
Write a reverse offer to the buyers, meaning you write an offer to them to show that you are flexible. 
  • September 24 2013
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Profile picture for CallTheSisters
Mblittle12

You have posted several times with your concerns about selling your home. You are priced under what you owe.  Obviously you bought when the market was higher in 2007 or 2008.  You are offering closing incentives and perhaps furniture.  Sometimes too many "give mes" exudes a sense of desperation.

I'm not trying to be hurtful or insensitive but your lack of offers has nothing to do with exposure,  photos, open houses or follow through.

Going back on a prior post of yours you said:
 There are some things I can't change---location (obviously) and the fact that it is 2 bedrooms.

In my humble opinion this is the problem.  You have a great and wonderful two bedroom home in a location that is not the most convenient.  While you may be priced less than you owe - you still may not be priced low enough to be in line with other two bedroom homes on the market.

I understand your frustration and your desire to sell. You are looking for answers to get your property sold.  You are correct when you say there are some things you cannot change. Those are the very things impacting your sale and you already know them.

I'm sure the buyers were telling you the truth when they said they love the house.  What they failed to say was we need 3 bedrooms.  Or other two bedroom homes are less money.  Two bedroom homes in most markets are less desirable than 3 bedroom homes.

There is no way to get a buyer to make an offer if the property does not meet their needs.  They are not sitting back because your house ranks number one.  They are sitting back because it does not have what they are looking for.



  • September 24 2013
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Profile picture for Andrew Finney
Communication... Persistence...  And perpetual lead follow-up!  

Talk to your agent about holding a "high impact open-house" for you.  That means you agent will personally door knock everyone in your area to let them know that your house is for sale and to bring any family or friends by that are interested.  

Your agent should also be reaching out to other agents' in his/ her company and other brokerages to find a buyer for you home!   

We have all been in hard times and I honestly hope that things will improve for you very soon!  

Take care and be well! 
  • September 24 2013
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I've got to play typical Devil's advocate here - how do you KNOW that they loved the house and were interested?  Clearly that isn't the case, as you haven't gotten an offer yet.  They were probably being nice, and/or lying to you.  Unfortunately, some people just aren't honest - or good at dealing with informing others of their opinions (especially when said opinions are 'no thanks'). 

Reach out to the agents, or buyers that told you they loved the property.  See where they're at with a decision, if there's questions you can help them answer, or if they'd like to see the property again.

Don't offer $1000 cash at closing, some people will look at that and decide not to deal with you because it's slightly suspicious and unclear.  State is like this:

"I will pay $X towards the buyer's closing costs."  As another agent indicated, you can add a date to that "... IF under contract by (date)."

If you're already priced the lowest you want to go, and the comps your Realtor provides back up that number, you're in a bit of a bind.  Stick with it and it'll work out in the end, sometimes these things take more time than we'd all like. 
  • September 24 2013
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Profile picture for aracz
Hi,

Good communication and follow-up are key here. I would have your agent reach out to their agent, and ask their "status" on this home. Let them know you can respond quickly to an offer they send in writing if that is the case.

It is important to communicate with interested parties right away, as over time, they may forget the benefits of your home as they are off looking at other properties.

All the best,

Arpad

  • September 24 2013
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Profile picture for Ofe Polack
To be "throwing in $1000" cash at closing and to tell buyers that their closing costs will be paid by seller are two different things.  The buyers already knew about this $1000 offer when they saw the property and that did not make a dent on their decisions.  You are asking us for advise, my advice is to ask your listing agent to create a flyer, that says "SELLER WILL PAY BUYER'S CLOSINGS COSTS, IF WE RECEIVE AN OFFER BEFORE OCT 1, 2013"  See what happens if you do that.  This will give your listing agent an opportunity to contact all those buyers who saw the property and have not made a decision,  with more enticing news.  Good luck!
  • September 24 2013
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Just because someone wants the house does not necessary mean they can afford it??! People always have second thoughts once they leave the house they just saw and start to weigh the pros and cons..Something is not making a buyer move and you/your agent seem to have done pretty much everything!? I would ask your agent to send all the agents an e-mail and ask for an honest opinion on the house and "What would it take to motivate your buyers. How can we make this happen!" Sometimes giving the other party the power to make a decision or call the shots, can give you an unfiltered insight. And remember you do NOT have to take what they are offering, but at least you get a clearer picture!!
  • September 24 2013
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Profile picture for Gabilan Properties
You call them and tell them about your price reduction!
  • September 24 2013
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Profile picture for Mblittle12
I don't really have the money to buy anything new or put more money in.  As it is, i'm already taking a loss.  Tough times.

From the agents, what do you do when you know you have a buyer that really loves and wants the house, but is waiting for whatever reason???  What do you do to entice an offer or light a fire under them?  
  • September 24 2013
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Profile picture for Randy Higgins
Cute house! If you have the money, I believe a stainless appliance package can go along way in your home. Try checking Craigslist or maybe a floor model to get an even better deal.

The house could use a little work staging. Check around the internet (HGTV for example) on tips to help your home show it's best.

Good luck!
  • September 24 2013
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Profile picture for Mblittle12
The house has been on the market since March 1.  However, I live in a smaller town outside of larger towns.  In our area, smaller towns just tend to take longer because everyone wants to be "in town".  It's very frustrating at times because i'm literally 3 miles outside of town...but when people look at our area, they tend to gravitate towards the city and not the outlying areas.  Exposure has been tough.
  • September 24 2013
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I would definitely suggest an open house! Your agent should follow up with the showings that have occurred as well. How long has your home been on the market? 
  • September 24 2013
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Profile picture for Mblittle12
I have a great agent and she has followed up with the agents of the interested parties.  They've all stated that their buyers loved the house but haven't really revealed their cards as far as what they're intentions are.  Now it's kind of radio silence and waiting...

I'm already offering $1000 cash for closing costs.

Before listing the house, I did all the cosmetic stuff including painting, carpet cleaning, deep cleaning, any repairs, etc.  I even had it pre-inspected and did all those items.  Pictures are great...or that's the feedback we've had so far.

You are welcome to check it out!  Search 511 S Market, Bondville, IL.  Its listed on here as well as trulia, mls, realtor, etc.

I guess what i'm looking for is some ideas to help get someone to pull the trigger!!  Example, one of my friends thought maybe holding an open house might help.  Letting those interested buyers know i'm doing one might give them more of a sense of urgency.  

Other ideas????
  • September 24 2013
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Profile picture for Dave Salzman Team
If you are working with an agent, have them call the showing agents to get feedback. If you are selling it yourself, call them. The showing agents can give you insight into why you have not received any offers from those buyers who were interested and said they liked it. Let them know you are motivated to make a deal.
  • September 24 2013
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Profile picture for Ofe Polack
Try offering to pay buyer's closing costs!
  • September 24 2013
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Profile picture for Neeraj Jassal
If your home is universally loved but no one is making a move, it may just be a case of price resistance.  Really good properties in this market have not sat around very long.

Have you considered making some minor cosmetic upgrades such as paint or staging to attract more potential buyers?  Perhaps getting some photographs that really pop and make a good first-online impression?

The simple fact is that the more traffic you bring through, the better your chances of securing an offer.
  • September 24 2013
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