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Answers (20)
- StuartElliot
- Contributions:1
I am into investing , I am not seasoned , but I do know there are ways you can get your house sold , no matter what condition or emcumbrances , repairs etc , can be negotiated .Rather that just look around they can sit with you and get something done in days based on circumstance .
- Tap012
- Contributions:277
I believe a part of the reason might be the price. Our agent said the comparative analysis was about $8K less than what our listing price is. What's $8K though. I figured a buyer would lowball an offer anyway. The problem is $8k less would put me in a shortsale. If I had enough equity, I wouldn't have cared.
- Toni Clayton, "Tclayton11"
- Contributions:35
Sorry to hear this. Selling a home is tricky and really needs a great professional to guide you. Without one it is like trying to be your own attorney. Not fun or profitable! Sounds like you have made it difficult for Buyers to get access. Is there a particular reason for this? You have to market your home on the internet (as many sites as possible), get that lockbox on, sign out front and no appt only. You have to make it easy for potential Buyers get in. We have lots of out-of-state Buyers who are short on time. If it is difficult for them they will simply move on. We are an "instant grativication" society. 1. Price, 2. Presentation,3. Marketing,4. Agents negotiating skills and experience, 5. Windermere is #1 and carries a lot of weight here, 6 Communication!!. I hope you get is sold quickly so you can move on. All the best to you. :)
- hpvanc
- Contributions:2573
Since you are getting showings, so you are effectively marketed and you are in the ballpark on price. Since you are getting showings but not offers, you are probably slightly too high. The other possiblility is that something about the property, that could be repaired or replaced is bothering the people viewing it, if you think that may be the case make a business decision on whether it will be more economically expedient to fix it or lower your price accordingly.
Good luck.
Good luck.
- wetdawgs
- Contributions:26811
I'm so glad you got a lock box and have seen an increase in showings. Are you getting feedback from the showings you've had both before and after the lock box?
I would hope that an offer would come between 5 and 15 showings if priced right and there is nothing substantially undesirable about the house (for example, sitting on the edge of a freeway).
I would hope that an offer would come between 5 and 15 showings if priced right and there is nothing substantially undesirable about the house (for example, sitting on the edge of a freeway).
- Annie Snow, "RuidosoAnnie"
- Contributions:85
Clean it, paint it, and fix it, because the better your home looks the quicker it will sell and the better your sales price will be.
So many people do not understand how important it is to repair anything that is fix able. Make small updates like new lighting and faucets. Get rid of the clutter inside and out. Crub appeal is so important. If the buyer will not get out of the car they will not buy your home. Look at your home and pretend you are the buyer. What needs improving?
It is better for seller to leave when an Realtor is showing a home.
It is hard for buyers to feel at home when the owner is near.
And all to often seller try to sell their home with too much information and personality, so buyer remember the people and not the home. .
Price it right, not want you want to get out of it.
These are proven was to get better offers. Thanks
PS 5% is really a low commission. Sellers agents need motivation to show your home when so many are now on the market.
So many people do not understand how important it is to repair anything that is fix able. Make small updates like new lighting and faucets. Get rid of the clutter inside and out. Crub appeal is so important. If the buyer will not get out of the car they will not buy your home. Look at your home and pretend you are the buyer. What needs improving?
It is better for seller to leave when an Realtor is showing a home.
It is hard for buyers to feel at home when the owner is near.
And all to often seller try to sell their home with too much information and personality, so buyer remember the people and not the home. .
Price it right, not want you want to get out of it.
These are proven was to get better offers. Thanks
PS 5% is really a low commission. Sellers agents need motivation to show your home when so many are now on the market.
- Tap012
- Contributions:277
Just to update. I listened to most of your advice. I got a supra lockbox now, and I usually try to leave the house when buyers come. I've seen an increase in buyers wanting to see the house, right after I got the supra. This past week we've had about 2 showings a day. However, no offers yet.
I'm hoping there might be some offers soon. It's been more than 3 weeks on the market now. Any other tips? Before the supra 5 people saw the house, and after the supra in the past week, about 8 people. Do you think with this amount of showings, there might be an offer soon?
I'm hoping there might be some offers soon. It's been more than 3 weeks on the market now. Any other tips? Before the supra 5 people saw the house, and after the supra in the past week, about 8 people. Do you think with this amount of showings, there might be an offer soon?
- Tap012
- Contributions:277
Thanks for the ideas. I was the one that took pictures myself and gave it to the realtor to post so no professional was hired for that. My agent said he was posting it on all different websites and made fliers. In order to be more available for showings, I decided to at least give a key to my realtor to show if I'm not available.
- wetdawgs
- Contributions:26811
At the point, you mentioned that you are uncomfortable not being home when people are there. That's fine (most of us are to some degree). What has helped me the most is to store the valuables elsewhere or in a securely locked area of the home (safe?) and get most of my stuff out into storage. Make sure people are escorted by an agent (while you are NOT home) and that you have a lock box that records who visits. Your agent should know how to do this and provide the lockbox.
If you've not heard about interested parties in time and delayed their visits by a day, word will get out. You are shooting yourself in the foot. Rather than thinking of a time frame of a few months you may be setting yourself up for a few years.
If you are listing it lower than you bought it, you aren't making a profit. You are taking a loss. Hopefully your down payment was big enough that you don't have to bring money to the closing table.
In most areas of the country, IMHO prices will decrease in the next two to three years. A few may see stable prices.
Good luck.
If you've not heard about interested parties in time and delayed their visits by a day, word will get out. You are shooting yourself in the foot. Rather than thinking of a time frame of a few months you may be setting yourself up for a few years.
If you are listing it lower than you bought it, you aren't making a profit. You are taking a loss. Hopefully your down payment was big enough that you don't have to bring money to the closing table.
In most areas of the country, IMHO prices will decrease in the next two to three years. A few may see stable prices.
Good luck.
- Lisa Dong, "Lisa Dong"
- Contributions:4
Did you hire a professional photographer to take the pictures for your properties? If no, I would highly recommend to do so. It does not cost much money, however the pictures they present can add a good value to the online presence of your property and will attract more potential buyers to make appointments with you. Also trust the selling agent whom you chose to work with and motivate the agent to be more creative in marketing your properties to a wider audiences. I also think having a lockbox is very necessary and will definitively expediate your selling process.
- Tap012
- Contributions:277
Wow that bad? I was worried prices would go even lower but I couldn't imagine prices going lower than they are now. I think if the economy keeps slowly improving, housing prices will improve. My fear is that prices will continue to decrease to the point where I'm underwater and stuck in my house for awhile. Right now, I'm listing it at a slight loss from where I bought it, but I still have enough equity to make some profit.
- Michael Emery, "MikeEmery"
- Contributions:7297
Do you guys think prices will go up again in 2 to 3 years?
If anything, home values may drop in the next 2 to 3 years. At best, home values will probably be flat with little to no increase in value.
If anything, home values may drop in the next 2 to 3 years. At best, home values will probably be flat with little to no increase in value.
- Tap012
- Contributions:277
The commission is split 2.5% to each agent. I'd prefer if my house sold right away, but I don't mind if it takes 4 to 5 months to sell. What does matter to me is that I don't go to much lower from what my asking price is because I'm using that equity as a downpayment for another house. I also don't want to get a lockbox.
I guess I could just wait till the market improves for homesellers. Do you guys think prices will go up again in 2 to 3 years?
I guess I could just wait till the market improves for homesellers. Do you guys think prices will go up again in 2 to 3 years?
- Rita A. Walker, "Rita Walker"
- Contributions:277
Even with a lock box you should be doing appointment only. Make sure your Agent is using a computerized lock box (such as a supra box) which tells when someone enters and who they were. It also makes it very easy for your agent to get feedback for you.
Unless your listing agent is only taking 2% commission you may want to up your rate to 6%. Many selling agents are looking for a 3% commission when they bring your buyer. Don't give them a chance to pass by your home because you are not offering as much as the other seller down the street.
Most agents work very hard for their commissions!!
Unless your listing agent is only taking 2% commission you may want to up your rate to 6%. Many selling agents are looking for a 3% commission when they bring your buyer. Don't give them a chance to pass by your home because you are not offering as much as the other seller down the street.
Most agents work very hard for their commissions!!
- Michael Emery, "MikeEmery"
- Contributions:7297
What Wetdawgs said.
In the old days of real estate (five years ago!) a buyer would call you about a listing and maybe you would get back to them in a day or two and then maybe go see the listing a couple days later.
Today, buyers (especially younger buyers) want a response within 30 minutes and want to be able to see a listing within 24 hours. Which is why you need a lock box (available @ Home Depot) and you need to NOT be there during showings.
If you just can't do it, the trade off will be a longer market time and a greater reduction in price (less money in your pocket).
In the old days of real estate (five years ago!) a buyer would call you about a listing and maybe you would get back to them in a day or two and then maybe go see the listing a couple days later.
Today, buyers (especially younger buyers) want a response within 30 minutes and want to be able to see a listing within 24 hours. Which is why you need a lock box (available @ Home Depot) and you need to NOT be there during showings.
If you just can't do it, the trade off will be a longer market time and a greater reduction in price (less money in your pocket).
- Wes Black
- Contributions:509
I would suggest lockbox. Look at a small reduction in price. Leave the house for the showings. Be sure house interior and exterior is in great shop.
- Tap012
- Contributions:277
Well, sometimes we haven't been home so had to postpone the appointments to the next day. Actually, there's been 3 or 4 other buyers that wanted to see the house but were postponed to the next day and then they ended up not coming. When they do come I usually show it but stay in the patio or something.
I know the above is probably a hindrance to buyers. I was just hoping that one of the buyers that saw it would make an offer so we can get it over with. I feel extremely uncomfortable giving my key out to agents and letting anyone come in when we're not here.
I know the above is probably a hindrance to buyers. I was just hoping that one of the buyers that saw it would make an offer so we can get it over with. I feel extremely uncomfortable giving my key out to agents and letting anyone come in when we're not here.
- Ritu Desai, "VARealtor"
- Contributions:697
Have you asked agent for feedback from the showings? Also what is the average days on the market in your neighborhood. Based on that you can determine if you are over priced or your showing schedule is limiting the potential buyers to schedule an appointment.
- Michael Emery, "MikeEmery"
- Contributions:7297
If you've had 4 or 5 appointments with no offers, chances are the home is not priced at a 'fire sale' level. This is not a bad thing as most home sellers aren't interested in giving it away - unless they're desperate to sell.
A couple questions. When you set up an appointment, typically how much time elapses between the initial request and the scheduled appointment?
Also, are you in the house when the prospective buyers are walking through?
A couple questions. When you set up an appointment, typically how much time elapses between the initial request and the scheduled appointment?
Also, are you in the house when the prospective buyers are walking through?
- wetdawgs
- Contributions:26811
Sell faster:
1. Have a lock box.
2. Be out of the house - totally off the property and far far away before potential buyers come to visit. Having the homeowner around tends to be intimidating, even if the owners are out in the garage tinkering around or mowing the lawn.
3. Ask for something like 1 to 2 h notice.
4. Drop the price so it is perceived as a bargain.
5. Make sure it is squeaky clean, minimal possessions and doesn't smell (this includes perfumes, cooking smells, Fabreeze smells, or bad smells such pets, garbage, mold etc)
1. Have a lock box.
2. Be out of the house - totally off the property and far far away before potential buyers come to visit. Having the homeowner around tends to be intimidating, even if the owners are out in the garage tinkering around or mowing the lawn.
3. Ask for something like 1 to 2 h notice.
4. Drop the price so it is perceived as a bargain.
5. Make sure it is squeaky clean, minimal possessions and doesn't smell (this includes perfumes, cooking smells, Fabreeze smells, or bad smells such pets, garbage, mold etc)
How can I sell my house faster?
We priced the house pretty much correctly, but are offering 5% commission to keep some equity in the house. Given all this, is there anything I can do to help sell the house better. Any advice?
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