I took a listing in July. Lots of traffic the first month, and even an offer, that my seller passed on (another story). The active listings in the same neighborhood have doubled to over 100 in a 1 mile radius since activating this listing.

We have had zero traffic/showings in more than 3 weeks, and the two weeks before that only 1 showing. I have called many of the other agents who have listings in the area, and they too have said they have not had any showings in weeks. This includes the bottom priced listings.

I am having an open house 11/6. Does anyone have any suggestions, or suspected reasoning as to the lack of activity for the entire neighborhood. Someone mentioned the elections? Could this be a factor? Anything????

Obviously, if you are up against 100 other listings, you have to give sellers a reason to look at your. Think price reduction. Big price reduction.

BK is right, unfortunately.

You have to be the BEST condition and the LEAST price-wise.


And even then, buyers may not want to purchase something in that area because there are so many listings available. That usually triggers some red flags in their heads.

Also many don't want to move during the holidays so that will throw properties on ice until the new year.

You might have a few serious buyers actively looking but with 100 properties to choose from the market is flooded.

I think it's either liquidation price to move it or wait until next year.

What's the saying? "Usually the first offer is the best offer!" in some cases it ends up being the ONLY offer.

Hi DeeVee..

My daughter is in Denver and I thought the market was pretty hot there.. At least rentals seem to be. She's having trouble finding a rental in the Cherry Creek area..

ANYWAY! I digress! Have you tried CraigsList? It's free and sometimes you get pretty good traffic.

Another thing: make sure your pictures are the very best possible. Give viewers a reason to want to see your house over the competition.

Lastly, DON't listen to all the naysayers.. It'll only give you a reason to not sell. And the homeowner does not want to hear that nothing is selling.

Simple problem. Listings have doubled since you started. Your asking price must now be lower than the other similar options by about 10-20%.

No price reduction, no sale. It's really that simple.

Price reduction is the answer. It may be difficult to convince your seller to do that, but with so many other listings, it's obvious. They either bite the bullet and drop the price to get it to move or take it off the market. It costs you time and money to list it; if you can't get to the price that will move it, I'd cut it loose.

When I read the conversation title, the first thing that popped in my head: overpriced.

If your marketing is getting the home all the exposure it should, then it is probably time to look at the price as several others have suggested.

Okay, but what your all missing is that even the LOWEST priced homes have not had any showings in weeks.
I agree that if the lower priced homes are getting showings then we are overpriced, but what could the reason be for no showings in the entire neighborhood in 3+ weeks.

You're sure right there Super. When we got the offer in, less than 3 weeks after listing, I told her then that this is likely the best price. She's kicking herself now for not taking the offer as I suggested.

Out of the 100 listings what is the monthly absorption rate for solds in your immediate area??

If nothing is selling with that many listings the buyers could feel there is now a STIGMA to the area because all the sellers want to GET OUT.

Reality or not people make decisions based on perceptions of value and what they are feeling and not necessarily the truth.

The ones that have sold call up that broker/agent and ask how did they get it done?? Most won't mind telling since it sold.

Was it just luck,price,a certain advertising medium they used or deal structure??

If nothing is selling within the last few months I would say the stigma is in effect and you are stuck with dead wood.

I'm dealing with the same thing. It's hard to price in this market. I've had 3 showings in 23 days, a broker looked at it said I priced it too high in the range. One similar recently sold went for 95% of asking price.

I have the lowest price in a particular community for a really nice home. Not even ONE showing in the past month. It's crazy.

I grew up in the Denver area, and I'm curious about what neighborhood this home is in.

I could be time for the seller to go into business, i.e., the landlord business until the market gets better.

It's in Highlands Ranch, and it really is a beautiful home, well cared for, great upgrades and it's priced about $20k lower than comp properties.

She should have taken the prior offer and is kinda sick about it now.

Make sure you 'reinvent' the property every week if you are not getting traffic. Try to tailor your marketing and listing in a fresh and new way each week to almost give the illusion that it is a 'new' property on the market. if there are lot's of other properties in the area as you said, then you have to make yours stand out as the 'gem' of the area. Be creative in your marketing and try to keep the property fresh. You can also advertise some incentives to get traffic to open houses. Some food and open atmosphere can really help opens and caravans due better.

Best of luck!

Agreed...with holiday time and elections approaching, not to mention your flooded local market...these are all playing against you. Professional pictures, advertising on your MLS, other top real estate websites, and open houses are really the best you can do. Good luck!

So nothing is selling , at all?

I agree with Madison and other posters in general. If the property has been listed for what some may consider an inordinate amount of time, it triggers red flags making a potential buyer wonder why the property has been on the market as long as it has. Seeing as pricing does not seem to be the issue (since even steeply discounted properties are still not selling), I would suggest "reinventing" your advertisement to try and give the illusion of a new listing as Madison suggested.

Deevee,

I live in Highlands Ranch and have noticed quite a few homes popping up in the last couple months, mostly August and September. Good luck with the open house!

moving anything but the price is wasting time while the market goes down in price and move inventory piles up. move the price now to beat the curve.

Had advertised in MLS for a week an "agent open house"...well it was a good thing the coffee maker didn't work 'cause no one showed up...but, I never had an agent show on any of those particular open house. Just whining I guess...

Instead of doing a drastic price reduction, what about lowering the price a little each week? We're doing this in my office to keep the listing kind of "fresh."

Dee Dee

More facts please.

What was it listed at when you got the offer and what was the offer. If the seller is now sick about not accepting the offer, did you at least get the price dropped to that level yet, or are you going to play catch the falling knife by grabing where it was, instead of where it's going to be.

And the most basic info for any of us to give any advice, what is the sellers motivation to move and what is your motivation to keep an overpriced listing?