Profile picture for Linnlj

Lots of showings but no offers?

All of our feedback has been great, house is staged well, clean, well taken care of,etc. But we can not seem to get any offers, according to our Agent we are very competitively priced but have been on the market for 90days. What should we do?
  • November 26 2012 - Urbandale
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Answers (14)

Best Answer

Hello,

 I would say considering the positive feedback and amount of showings you are getting it is time for an incentive. This is probably because your area has great deals all around. Get with your agent and offer an incentive or a price reduction and have your agent get that out to ALL the agents that viewed your home ASAP.

 Good Luck sounds positive!!
  • November 26 2012
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Profile picture for sean reardon
Generally no offers = bad price or condition.  The innovative buyer is going to want to re-furbish the property to their likings (not that your style isn't nice, everyone is different) that number + a logical offer price.   Unfortunately people don't always want to lowball, as it is rude, and some agents will not.  
  • November 19 2014
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Profile picture for lcristpiano
I am a seller in the same situation.  We just met with our agents last night.  We have just lowered our price for a 3rd time, but are surprised out of all 27 will be 28 showings non of those showings have yielded so much as a low ball offer or have been shown by our agent.  The latest theme has been "we have to wait for the right buyer". Our contract will be up in around a month, and our question to our agent is.... how are you going to get that buyer in here?  Is this unrealistic as a client to expect of their agent? We are paying an agent to "sell" our home, however at this point it seems like we are doing all the work; staging, cleaning, prepping for showings, lowering our price etc.  It is beyond frustrating!
  • August 27 2014
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Great question! Lots of good answers here too. Bottom line, if you are getting good feedback but no offers that usually points to a price challenge.

Depending on the inventory in your market, your home may not be standing out amongst the competition.

Discuss with your agent and schedule a price reduction and an open house to happen on the same weekend.

If you have been on the market 90 days without offers, you will need to look to a 3-5% reduction for the best result. Review recent SALES in your area, not other homes that are FOR sale.

Best of luck!
  • November 27 2012
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My old Broker would say if you are getting showings but not offers, you are at least 3% over priced, that is if the feedback you are getting is good. Incentives can help but if all the buyer wanted was a home warranty they would have submitted a offer asking for one. It is most likely time for a price reduction. It is good to be competitively priced but your are going to need to be the top 1 or 2 homes in the price range to receive an offer, are you? 

Best wishes! 
  • November 27 2012
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Linn,
Try asking the agent to give you comps on what is currently on the market and what has gone sale pending in the last 90 days. If indeed you are priced competitively, look at average $ per sq ft, improvements, and home condition-there must be something the agents who have shown the home have seen that are holding up offers. I suspect you may be overpirced. If the average time on the market for those that have gone sale pending is less than 90-120 days there is something about your place driving lookers to a different house. It could be paint colors, too much furniture, house layout, or many other factors. Ask your agent to come back through and sit down to discuss what needs to be done. I'm sure he/she would be willing to do that-they dont get paid until it sells. Let them know youare willing to do waht it takes. Good Luck-John
  • November 27 2012
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Thanks for posting your question on Zillow.com!

Well, there HAS to be some reason and my belief that is in this hot market there is only one reason a home is NOT selling.....price.  Now, it could be too high for the condition, location or competition.

Make sure you know what your agent is doing to market the property, search it out online and make sure it is there & the links/video tours work.

Best of luck!
  • November 27 2012
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The market is shouting an answer, lots of showings with no offers always means the same thing...flawed pricing strategy. Your home is being used to sell other properties. It's good enough to show, just not priced comepetitively enough to write an offer. Check the recent comps to see how many homes have sold while yours has been listed and ask yourself why buyer picked those homes rather than yours. Good luck
  • November 26 2012
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Profile picture for wreynol4
Great, question, sometimes homes take a tad longer to sell for whatever reason.  I would run another CMA and see what similar properties have sold for in the last 90's again, and see if there are any other incentives you could use to help sell your house.  For instance, maybe agree to pay part of their closing costs, something of that nature.  Good luck and I hope your home sells soon!
  • November 26 2012
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Thank you for your question.  How many months of inventory do you currently have in your market?  Also, what is the average time on market?  It looks to me as though you need to do a price reduction asap.  Remember, just as water holds it's level, you can never under price a property.  This is why auction marketing is successful.  Get the price in the sweet spot!
  • November 26 2012
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I would ask your agent what the typical time on market for your area is. They will be able to get you that information to give you a realstic idea of your market. Is it a buyers or sellers market? In my opinion you need to be even more competitive if you have gotten decent feedback and no offers. Consider a price reduction. 
  • November 26 2012
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If that were my listing in this market it would be time for a price reduction.  In most areas around Los Angeles County homes are selling very quickly due to our low inventory.  Homes that fit your description don't sit long unless they are overpriced. I don't know where you are located, or what price range you are in so it is difficult to give you more detailed advice at this point. Ask your agent what a reasonable reduction would be, and give it a shot. Other things you can do are give incentives to the buyer, and or buyers agent.

  • November 26 2012
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Profile picture for wetdawgs
Sounds like a perfect situation for a serious price reduction.   As your agent says you are competitively priced, ask the agent to pull out the comps that have sold in the last 90 days within 1/2 mile of your house.  Evaluate your price vs the actual closing prices very very carefully. 

  • November 26 2012
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Profile picture for lyneska13
You can always offer closing costs incentives and/or Realtor incentives/ bonuses, reduce the price a bit more, offer home warranty for 1 or 2 years. Think like a buyer! Good luck :)
  • November 26 2012
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