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Seller vs. Seller

Real Estate Agent with Coldwell Banker Residential Brokerage

April 23, 2007 12:41 PM

What is it going to take to get your listing sold? You have put together an excellent marketing program for your client. You have properly priced your listing. You have good activity at Open Houses, co broker showings and have introduced the property to your prospective buyers. No offers. Is it time to go to your Seller and make some changes? What changes do you make? Or do you ride out the slow market conditions? What do you do?

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Laurie Mindnich

Centennial, CO

I would think that enough feedback has been acquired to answer the question through follow up and opinions of the open house prospects, realtor showings, etc. If it isn't gone, but the numbers are there, it's priced too high. It's not financially sensible to "ride out" an unknown (opinion), especially as the sellers might be paying a mortgage while they await a sale. If it's been on the market for 60 days with this result, the follow up should indicate the answer, and it boils down to price- people love a good deal. Is there a better answer? Price or condition, and you haven't indicated a poor condition property. Presumably, you've followed up on all promises re. marketing- and you don't have a magic wand.

Apr 23, 2007 12:55 PM

Michael Ross

Coldwell Banker Residential Brokerage - Beverly, MA

North Shore of Boston

The property is in good condition. Co brokes have stated it just insn't the right fit for the buyer in most cases. Maybe it is price but the sqare footage tells me this is a bigger home then others that have sold in the same price range. Maybe the market is really turning down again? I am puzzled but I don't want to give away any of my clients equity.

Apr 23, 2007 01:10 PM

Lauren Corna

Archway Realty, LLC - Southlake, TX

Broker

I think that if you have had a lot of showings and no offers then there is something wrong with the home like floor-plan is weird or there is something wrong cosmetically...

I had a home in great condition painted all white inside.... Tons of showings and low ball offers...I took the home off the market for a week and went in and repainted the entire inside with neutral colors and replaced the carpet to an updated color and sold the home for over the list price....I staged the home.

Staging makes a HUGE difference.

Apr 23, 2007 01:19 PM

Eva Wilson

Long & Foster Real Estate - Camp Springs, MD

BS, GRI - DC Metro Area - Home Marketing Specialist: The DVD Lady

Something has got to be weird about it. I showed one that was gorgeous this weekend! Clean, manicured lawn, most beautiful house in the neighborhood. MICKEY MOUSE KITCHEN.

Eva

Apr 23, 2007 01:34 PM

Michael Ross

Coldwell Banker Residential Brokerage - Beverly, MA

North Shore of Boston

I am going to bring in a few other agents from my office to see what they have to say. I am going deep into the research mode too! Maybe I have missed some new comps? Maybe I need to look at current depreciation rates? Maybe an appraisal?

Apr 23, 2007 01:53 PM

Laurie Mindnich

Centennial, CO

There's nothing weird about it. It's priced too high because the market is evolving. De-volving (not a word). Do another CMA, call other agents- it's too high.

Apr 23, 2007 02:25 PM

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