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.