PERSISTENT AND INSISTENT SELLER -- I'm Running Out of Answers!!

By
Real Estate Agent with RE/MAX Classic 6501339094

I have a listing that I have been servicing for about 5 months.  My contract is up after 6. We have had over 30 showings on this property and not one offer! You would think this home is atrocious . . . but, quite the opposite -- it's a BEAUTIFUL home. The only problem is that it backs up to a somewhat busy road (even though there are mature trees and a walking path that block the road) and it is one of the smaller homes in the neighborhood.  Other homes have been selling in this subdivision.  I can't quite figure out why ours is not.  It is priced well for the home's location, size, amenities, etc. We are getting a lot of traffic, however, no offers.  I have followed up with ALL of the agents who have shown the property, but we can't seem to motivate a buyer to write an offer.  On top of pricing it well, we are also offering incentives for the buyers ($5,000 to utilize for closing costs, decorating or however they wish), incentives for the buyer's agent as well as offering the home almost fully furnished (with only a few exceptions).  HELP!

My seller calls me DAILY! I want to give him the answers he wants to hear, however, there's nothing. I feel for him . . . it's not easy having to clean and prepare your home for buyers that show little or no interest. Any advice would be welcomed!

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Rainer
82,781
Patty Carroll
Vancouver, WA

We have found that we get REAL objections by asking this question of all of the agents that have shown the home.

What would it have taken for your client to have made an offer on this home?

Without the true objections what can you work with and what can you share with your seller? If you consistently hear about the busy road then the price needs to be lowered to reflect that. Price does cure all.

Jul 30, 2008 02:58 AM #1
Rainmaker
571,818
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Laurie,  Given what you have included in your postmy feeling is tjhat you still don't know why the buyers are taking a pass.  I found that in many cases the showing agent gives you a vague answer instead of the actual feedback.  Just a thought.

Jul 30, 2008 03:08 AM #2
Rainmaker
429,925
Betina Foreman
WJK Realty - Austin, TX
Realtor, C.N.E., with WJK REALTY

There is no objection that the 'right price' can't overcome. You might try a slight price reduction to get to the next level of buyers, or motivate the ones that are seeing the home now. Try calling those agents that have recently shown the home and tell them the price was just reduced 5-10K, maybe you will get an offer. I wish you the best of luck!!

BEtina

Jul 30, 2008 03:30 AM #3
Rainer
105,804
Travis Newton
Salem and Bend Oregon FHA, VA & USDA 503.931.4490 - Salem, OR
FHA, USDA, VA, LOAN EXPERT - Salem OR Homes For Heroes SALEM OREGON

How about using an extra $$$$ and do a 2-1 buydown. For example:

Rate is 6.25% today.  If your seller pays the money to buy it down it would look like this....

4.25% for the 1st year

5.25 for the 2nd year

6.25 for the remaining 28 years.  This is a perfect loan for a lot of people.

Ask your local Mortgage Broker about it.

Jul 30, 2008 03:34 AM #4
Rainmaker
398,820
Doris Freeman
RE/MAX REALTY SOURCE - Jackson, TN
Broker/Agent, Realtor, Madison-Gibson-Crockett

What are the reasons the agents have told you their buyers didn't like about the property.  Some things you just can't change.  I have a listing that is perfect, except, the back yard is really small, we had it priced right, but have just reduced to see if we can overcome the objection by the super price.

Good Luck and Have A Great Day

Jul 30, 2008 12:51 PM #5
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Rainmaker
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Laurie Schwandt

Realtor & Certified Home Stager
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