How Do You Counsel Sellers With Stagnant Listings?

By
Services for Real Estate Pros with Midamerica Referral Network

 

How do you counsel sellers in today's stagnant market?  They've done everything HGTV suggests to make their home appealing to the drive-bys.  They have cleaned or replaced worn carpeting, painted purple walls  shades, put cookies in the oven, turned on the lights and disappeared for showings.  Yet still no offers in Shell Knob, MO.

Worse yet, after 6 or 7 months on the market, and all the big ads in Homes Magazines, personal web pages, etc

..ZERO SHOWINGS!..........ZERO SHOWINGS!house

In our SW Missouri area our MLS has 1,712 single family homes for sale.  Of that number, there are 457 properties priced over $300,000.

I have shown a few homes this Fall over $300,000, but my buyers stayed under that number when they purchased.

What do you say to the $598,000 seller?  Cut the price in half to get into the current market?  Dropping the price by $50 or $100,000, still won't make it that much more appealing to the budget minded.

This may not sound like a serious problem to individuals facing loss of their home, or bankruptcy, but to the elder seller with  health problems, it is every bit as serious.

Should we keep it on the market over the winter, or  wait and renew the listing in the spring?  We currently have 10 beautiful waterfront homes available in Shell Knob, MO for sale and priced $500,000+.

 

Call Joan for all your real estate needs in Shell Knob or Table Rock Lake area.  417-846-7128

Tri-Lakes Realtors 417-846-3344

 

 

 

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Rainer
75,709
Joel Prince
The Principle Group, Inc - Hixson, TN
Hixson/Soddy Real Estate Broker

Joan -

Sorry to hear of your predicament.  The market seems to be "healing from the bottom up", at least in our area.  Perhaps things will improve in the coming months.

Nov 01, 2009 09:02 AM #2
Rainmaker
566,531
Delaware Junk Removal Residential And Commercial Hauling Clean Outs
Delaware Junk Removal 302-530-9186 - Wilmington, DE
Whole House Clean Outs, Basements, Garages, Attics

Joan- I would revisit the comps and number of sales with them monthly if they dont lower the price.   Every market is different but I would have to ask myself if I want to carry a listing that is x dollars overpriced?  Good luck

Nov 01, 2009 02:14 PM #3
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Rainmaker
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Joan Snodgrass

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