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#27093 - 06/18/06 10:50 AM Re: How to get agents to show house to buyers?
Alan From Florida Offline
Veteran Member

Registered: 05/10/05
Posts: 906
Loc: Tampa Bay Florida
 Quote:
We were listed at 899k but dropped it to 879k 2 weeks ago. We are the largest house listed in the area for the lowest price and have more upgrades inside than most. Could the lack of traffic be due to not having the brokers open yet? Out here they only schedule 1 area once a month. We couldn't get in at the end of last month, so although being on the market for 4 weeks now, we won't have the brokers open until this friday (5 weeks).
Several years ago I used to do brokers opens. a lot and on vertually every listing. However over the last several years with video tours and the internet I have gotten a way from them. You might want to check on what internet marketing your agent is doing. The proof of that is you are on the internet asking questions so are buyers.

My first question is what is the overall average market time for a home of your value. In my area is about 180 to 300 days from list to contract. If that is so then there may not be anything wrong. Also have your agent pull listings from 1 year ago then 2 years ago, then 3 years ago and then only go back 6 months. Look at how you area is trending. Where I am we have had 20 to 46% yearly appreaciation till the last 6 months and now its down to almost zero and in Miami the reports are they are declineing about 25%. All in the last six months. I am not saying that is the case only that take a look. Also how are the homes in you area and price being marketing that are being sold. That is where evedently the buyers are. You can not market each and every home the exact way.
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#27094 - 06/18/06 11:19 AM Re: How to get agents to show house to buyers?
SiberianWinter Offline
Member

Registered: 05/24/06
Posts: 403
Loc: White Plains, NY
Sorry, trying to multi-task...What I was saying was that you might have a house that is boring. Staging really helps. There is a saying that its the "sizzle that sells". No sizzle, no sale. You are talking very rationally about square footage and age. But a charming house with less sq.ft., an older boiler, and older roof often outsells the boring house with up-to-date plumbing, heating, roof and central air etc.

We had a house listed in our area that had just been done up beautifully. All the moldings, the kitchen...EVEYTHING was picture perfect. People walked in and said "Ah...I'm HOME." Even in this soft market, it sold in a week...with a very frothy asking price. A house down the street was modernized with a new roof, new central air etc...the structural stuff was all done, but it was BORING..old wall paper, lots of toys and clutter, unimaginative decorating etc. Great house, HUGE potential but no bites. That house is STILL sitting.

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#27095 - 06/18/06 03:53 PM Re: How to get agents to show house to buyers?
Looking2sell Offline
Junior Member

Registered: 06/11/06
Posts: 7
I believe the average time is 85 days from listing to closing. I realize we are still in the mix and time wise everything is fine. Patience is something I need to work on \:D .

Siberian, We picked the wrought iron railing and cherry cabinets and granite that were exactly like the model home.We have crown molding in every room and wood/tile through out. Several people have said our house is beautiful and they like the decor (since the photos were taken, I have packed pictures and books away).

I am sure it would sell if we had more traffic. I think it must be the area that is slow because I don't understand why some other houses haven't sold either. It does seem the ones that have almost all have pools (which we don't). I laugh with my husband that if we spent 30 grand on a pool we could get more money for the house it seems \:D

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#27096 - 06/18/06 04:55 PM Re: How to get agents to show house to buyers?
SiberianWinter Offline
Member

Registered: 05/24/06
Posts: 403
Loc: White Plains, NY
Sounds like you've done everything right.

We are experiencing a very slow market where I am - and I am noticing a widening increase in days on market between houses that look fabulous and those that look tired - or are "bland" in style. Last year it almost didn't matter - a piece of junk would sell in 24 hours - it didn't matter that the creampuff next door sold in 12 hours!

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#27097 - 06/18/06 10:27 PM Re: How to get agents to show house to buyers?
navarac Offline
Veteran Member

Registered: 01/19/06
Posts: 994
Loc: New Jersey
 Quote:
Originally posted by Looking2sell:
We were listed at 899k but dropped it to 879k 2 weeks ago. We are the largest house listed in the area for the lowest price and have more upgrades inside than most. Could the lack of traffic be due to not having the brokers open yet? Out here they only schedule 1 area once a month. We couldn't get in at the end of last month, so although being on the market for 4 weeks now, we won't have the brokers open until this friday (5 weeks).

I thought offering the 3.5% would heelp get agents to show the house but we only had 3 visits this week (minus 2 from the open house yesterday).

We have someone that wants the house but they can only make an offer with contigency. We would be willing to do that but still be able to list the house with sellers 1st right of refusal, but I can understand why they wouldn't want to take the risk of losing out on appraisal and inspection fees if they can't sell their house before another buyer comes along.

Now there are 16 houses priced below ours and 30 above ours. The ones below ours are on average 400-500 sf smaller and older.

Thanks for all of the help so far. Would love to hear input on if the brokers open should help speed things up. We are offering desserts and a drawing.
Well it sounds like you are priced correctly. You don't have any negatives nearby do you? Power lines? Railroads? Visible commercial properties? Steep hill? No backyard?

The brokers open house is usually a waste of time. They usually attract all the agents who are 1) not busy and 2) want a free meal. Feeding cheap failing agents is not going to be of much use. A competent busy agent has absolutely no time for a brokers open house.

Make sure your agent is enhancing the listing on realtor.com so it comes up early in buyers searches. You have physically checked realtor.com and seen your listing, correct? Some agencies do not IDX and their listings never appear on realtor.com. Big negative. So just make sure it's showing up properly.

Beyind that, if it is truly a bargain and you are not leaving anything out, buyers simply WILL find you through their online searches. If they don't after a few more weeks, something is wrong.

Make sure your agent has distributed a full color brochure of your property to every agency in your market area. Also make sure your agent has sent a full color brochure to everyone in the neighborhood.

Separate discrete 3x4 ads in the local paper are a good idea. Frequent public open houses (not brokers) are also a good idea. A dedicated website is a good idea. Video tours (not virtual tours, actual video tours) are a good idea, if your agent knows how to do it.

No one knows which of these things will produce a buyer. That's why a good agent does all of them.

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