The email began“just a brief note to let you know what’s happening with our home sale up here in XX – NOT MUCH!! We’ve been listed since April, had 3 showings, 2 open houses, 2 broker opens and been in the paper twice. We’ve reduced the price twice and we don’t know what to do. Our agent says not much of anything is selling here. Our listing expires this month. We’re not satisfied with our agent’s marketing! We don’t know what to do. Should we find a different agent or take it off the market?”
Thus began the email from my Buyer Client with a home for sale in XX.
I answered that, in today’s real estate market, it’s all got to come together - features, marketing and price and I’m sure that’s as true in XX as it is in the Wilmington NC area. I’ll guarantee you homes sold in the last 6 months in XX. Down here, in any given month, roughly 10% of inventory is selling. How to get out of the 90% sitting and into the 10% selling is your big question.
Here’s a big red flag. Three showings in 6 months says Buyer’s agents searching listings are not seeing in your home what clients are looking for in your price range. Sales is much more about probabilities than you might imagine and without a significant number of showings the odds your home will sell are so small.
I share that I tell my homeowners 2 things can happen when we list their property. No showings or too few showings are issues of features and/or pricing. Plenty of showings and no offers is almost always just a pricing issue.
Without enough activity, the challenge is determining the right thing to do, lower the price, improve the features or some combination of both. With the listing expiring soon, it is a good time to take a step back and look at everything, home, price and agent.
Because, here’s the bottom line, a home offering Buyers what they want at the price they want to pay, will sell. Ask your agent what sold this summer in your current price range and what homes with your features brought at closing. That information is your starting point for decision making!
Regarding your agent, for the best outcome, an open and frank relationship involving a lot of trust produces the best outcome. Do you have that with your XX agent?
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