Time to Cancel?

Is the lack of offers the norm in your area?  If not then something is wrong, it is priced right, in immaculate condition and the only offer you got was far below list price????  Doesn't quite make sense, does it.  "everyone who sees the inside thinks it is immaculate shows well? why aren't they bidding then.  Comparables are selling?

Brian,

What are the average days on the market for this price range and area? If you haven't sold but have had numerous showings, chances are it's the price. Price fixes everything! Easy for me to say, while I have a number of these listings myself. I would not quit, but I would work on the price.

Steve

Brian - Look into adding a financing package with sample monthly payments because this can be a very power way to generate renewed interest especially if the home is already an exceptional value.

Here is a sample I am using for a bank owned home:  Home Listing and Sample Financing

Happy Selling!

Unless it is a specialty property, doesn't it always come down to price?  I love HomeFeedback.com and use it on all my listings.  I recently had my office plus a few agents from other offices tour a property that hasn't ever had an offer.  I've told the Sellers the price still needs to come down but they wanted to shoot the messenger; me!  When each of the above agents provided their feedback directly to the Seller stating the price was over market value, the Sellers finally understood and dropped the price.  The offer came the very next day!  I guess there is safety in numbers.

Brian, in the market we're in, 90 days does not seem too long to me.  What is the history of selling time in the area?  Are homes going under contract that are similar to yours? 

What about offering the buyer an incentive?  Closing cost credit, or maybe new appliance gift certificate, etc.  Or even offering the realtor a bonus?

Ida is onto something when she mentioned offering buyer incentives especially relating to financing and making it easier for a buyer to purchase that home over other competing homes. 

Hi Brian;

I have a listing priced below market value and a very nice house... shows well!! I am not canceling my contract, I playing the waiting game and hoping to get the right offer. The market is very bad.

What are you average days on the market for your area? I know ours are up. If you are getting showings, etc....what are the comments from other agents as to why their buyer didn't put in an offer? I would give up...you never know when the right buyer will come along.

Dave

Try some incentives like a bonus if closed within the next 45 days or so. Maybe an open house or some other forms of marketing. We never really know what will work; so try every and anything.

Brian, sounds like your doing everything right, so hold on to it if you can. Stay on top of the price and review the solds and off-market's frequently to proceed with advising pricing correction when merited. The selling season is just beginning and patiently working with the existing market condition is operative to the sale. Have a great holiday weekend.

90 days on the market is not long in our area what is the average length of time on the market in your area? Here are a couple of things to try, hope they help.

Try calling the agents that have recently showed the home and ask them what would it have taken for their client to have put an offer on the home? From their answer you can get the real reason why they did not make an offer. Sometimes it is something that your seller can fix or make happen to get a sale.

Is the home staged for selling? Are the counters in the kitchen free of clutter, including appliances? Is there stuff on the front or sides of the fridge? Take a look at your photos on the MLS, would you want to look at the home? If your sellers haven't already, have them pre-pack and store the boxes in garage. Pack up all personal photos.

Is this typical for houses in your area?  I would say hang on because it is only May.  We have peak selling months ahead of us. 

I find that marketing to agents can sometimes give your listing the boost it needs ... emails/flyers or an agent open house.  If there is a large inventory in your area, your listing can get lost among the many offerings. 

Can the owners hold all or partial financing to make the deal more attractive?  How long are the comps taking to sell?  If the comps are selling, then I would say that it is still overpriced even if it is the lowest priced.

Brian-Make sure all of the agents in the Puyallup market know of any increase in SOC etc. I have had good luck by sending flyers to offices with any changes to my listings. It can jog someones memory sometimes to be reminded of a property and how it might fit in for their clients or new clients since the last time they looked at the house.

Best,

Scott