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Is there anything more I can to do help attract buyers to my house?

The house has been on the market for over 90 days.  We did a $4000 price reduction at 60 days. The Realtors really feel that the house is worth the price.   We have had at least 4 open houses.  We are listed through a real estate company that has a great reputation.  The Realtors came in yesterday to stage the house and retake and repost pictures to hopefully attract buyers. We have yet to get any negative comments about the house itself other than that the dining area is a bit small.   We are really hoping to sell the house soon as I start a new job 2 hrs. away in August.   
  • May 05 2012 - Wisconsin Rapids
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Answers (3)

If houses are selling in your area, what matters is not that Realtors think it is worth the price but that buyers feel it is worth the price.

Very true, sometimes Realtors won't say its overpriced if it is, though yours might be right on the mark.

Do you know what the average DOM is ? If not you should, it might be greater than 90 days. Is your market trending UP or DOWN ? If it is going down, and you NEED to sell, youll probably have to reduce the price again..  If not, just hang in there...
  • May 05 2012
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Profile picture for amandathomas
Hi,

Here are a few suggestions that might help get some additional eyes on your listing:

1. Does your listing agent have the ability to run a reverse-prospect campaign through the MLS? If so, you might be able to invite showings from buyers who are seeking a home just like yours!

2. Don't under-estimate the power of web-based advertising. Have your agent try a special offer through Zillow!

3. Consider incorporating a time-sensitive buyer-incentive with your listing... If the dining room is 'small', it might help a buyer to make a positive decision if you were to offer an allowance or gift cert. for new furniture with an acceptable offer.

4. Your Realtor is doing a good job by taking new / additional pictures. More pictures equate to a faster sale. (This has been proven in studies.)

5. Discuss showing traffic with your Realtor. Is your showing ratio par for the course in relationship to your zip code? If not, you may want to consider a time-sensitive buyer's agent incentive instead of a buyer's incentive. 

6. In addition to staging, consider having a pre-sales home inspection performed, and share this (plus any repairs performed in response to the report) openly with buyers.

7. Finally, consider how pricing might factor into consumer motivation. Often, sellers 'hold out' for what they think their home is worth. It is difficult for most sellers to believe that the market will bring what the home is worth. If you have confidence in a particular price, dare to drop the price below the mark. Buyers will often rally to compete for a home, and this ends up bringing FMV+ for a savvy seller!

Hope this helps!
  • May 05 2012
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Profile picture for wetdawgs
If houses are selling in your area, what matters is not that Realtors think it is worth the price but that buyers feel it is worth the price.    Up to this point, apparently you aren't getting the latter feedback.
  • May 05 2012
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