Helping sellers understand showing activity-

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Real Estate Agent with RE/MAX Executive Realty

Yet another thing that's part of our jobs and part of our daily lives, but we  (real estate professionals) don't always properly explain what it means when a property is shown!

Know your averages.  Last time I checked (anyone, feel free to correct me if you have the current numbers), buyers looked at an average of 10 homes before selecting one.  SO....if your house has had 10 showings, by averages it's been compared to 100 homes.  Now, if you have no offers from those 10 showings, you've lost out to a lot of your competition.  (remember, we're talking averages and ballparks-i know that it's possible some of those buyers saw the same properties on their respective searches).

So what do you do?

1....Raise your condition.  Are you missing things that are standard for similar priced homes?  Solid counters?  Better landscaping?  Neutral interior?  Do you need to listen to that stager?

2....Lower your price.  As Realtors, we're not just trying to continually beat sellers up on price-but sometimes we have to say things you don't want to hear.  Every house has a price and every house has a buyer.  We as agents and clients as sellers do NOT set market value.  We can only suggest pricing.  Buyers set market values.  When the house is priced properly, buyers respond by purchasing.

 

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Tags:
pricing
sellers
market value
listings

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Rainer
153,261
Scott Gormley
Oak Valley Mortgage-California Home Loans and Refinancing

Sounds about right. Realistically, the person that is going to buy a clients home was met at another open house and not the one you met at to begin with...

Scott

October 31, 2006 11:49 AM
Rainmaker
1,508,766
John Novak
Henderson, Las Vegas and Summerlin Real Estate
Keller Williams Realty The Marketplace
On listing appointments I always tell sellers that we can control the marketing, but we can't control the market. Price and condition are the two most important aspects in determining how quickly a home sells in any given market. Our Listing Manager speaks to sellers weekly to update them on showings, agent feedback, and market activity - and to discuss if we need to make any adjustments to our marketing. 
October 31, 2006 02:28 PM
Anonymous
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Rainmaker
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Leigh Brown

Broker/Owner - Charlotte NC
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