I realize that best practices can vary depending on market size and region of the country. When I moved from the Houston metro area to Colorado Springs, I had to adjust some of my thinking and metrics. In a smaller market we just don’t get the showing traffic you do in a major metro area.
But one thing is constant across market size and region. We are retained to sell the property. And you can’t sell the property unless you have offers.
Many agents are confused thinking that as long as a home is getting showings, the price is ok. IMHO, nothing could be further from the truth.
Many expired listings have a slew of business cards on the counter. Showings month after month without offers is not ok. It should be a shrill alarm bell that something is wrong.
Yes, it may take a few weeks to get offers but if you are having showings without offers for more than a month on a typical listing (luxury properties and specialty properties may take longer) then something is wrong with the property or the price. Unless feedback tells you it is something about the property, chances are it’s the price regardless of the number of showings.
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