MY HOUSE IS NOT SELLING - NO ONE IS LOOKING AT IT - WHAT CAN I DO?

By
Real Estate Agent with Godzyk Real Estate Services

 

This Morning's question is; MY HOUSE IS NOT SELLING - NO ONE IS LOOKING AT IT - WHAT CAN I DO?      Unfortanately in this market it is a common question. Without any lookers, the first thing you have to do is get a new brokers price opinion completed to see where your house is priced in the market. If your house is priced above market value, with the increase in listings, your house my be priiced too high to attract buyers. You want your house priced at or below market value, most often no lookers comes from too high of an asking price.

The second question to ask is anyone calling, where is the agent directing their marketing. Ask the agent why they think there is no lookers. If your price is at or below market value and no lookers why is this happening and try and solve it.

WHAT SELLERS ARE FACING TODAY?

As i write this today there are some market factors that every seller is facing:

The banks are not loaning money very freely, Potential buyers are ready and willing to buy, they are just not able until the banks start loaning money. This fact is keeping inquiries up and showings down.

WHAT ARE THE ANSWERS?

There is no easy answer, the most important thing is to be priced correctly at or below market value.

Make sure the exterior of your home is neat and clean, most people drive by the property first and in a split second decide whther they are calling back to get in, or will keep on driving.

Asking anyone who needs a sale to be patient is tough enough, especially when so many need quick sale, however better times are coming with the fall market right around the corner where showings and sales typically increase.

PLEASE FEEL FREE TO COMMENT ON WHAT YOU THINK?

UPDATED November 17, 2010

Blog written by:

Scott Godzyk
Godzyk Group Realty

Manchester NH

www.ScottSellsNH.com

Copyright 2010, All rights reserved

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Rainer
35,547
Lisa Matondi
RE/MAX Professional Associates - Brookfield, MA

Good advise. My first thought was for the seller to ask themselves if they listed the house at what their listing agent told them it was worth or if they listed it too high.  It isn't always a new broker price opinion.

Nov 17, 2010 08:39 AM #1
Rainmaker
540,278
Holly Weatherwax
The Momentum Group, Northern Virginia - Reston, VA
Keller Williams Realty, Dulles

This market is a challenge for sellers. I am seeing that super competitive pricing is still not bringing buyers in...patience is the answer!

Nov 17, 2010 08:41 AM #2
Anonymous
Anonymous
Anonymous

Seller needs to know to price their home 5 to 10 % below the market for comparables.....and that may not work but at least it should cut down on the number of marketing days and get SOME showings..

Nov 17, 2010 09:08 AM #3
Rainmaker
1,079,044
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Lisa unfortanately sellers are not listing at what the initial bpo is comong in at because they cant, because they owe too much or they remember what their neighbors house sold for and theirs is so much better it should be worth more. Alot of my new listing appointments are sellers who had their houses on the market all summer. The market has changed since then and i want to complete my onw BPO to know what that house is worth in todays market, i can nottake their word or their former agents word, that didnt work so well for them the last 6 months.

Nov 17, 2010 09:16 AM #4
Rainmaker
1,079,044
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Holly i think one of the biggest problems is teh banks have not yet begun to loan money to those buyers that are willing to buy that would have been easily approved a year or so ago but now are being shut out. Once the banks start to loan money, we can get this market moving again

Nov 17, 2010 09:17 AM #5
Rainmaker
1,079,044
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Dennis price is a huge factor. If the hous eis need of any work or repairs, then that discount should be that much greater than a house in good repair needing nothing

Nov 17, 2010 09:18 AM #6
Rainmaker
1,373,049
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Pricing, upgrading, declutter, new/better marketing, etc. are all factors that need to be considered.  If it's not showing at all it's usually (IMO) because of price and/or location. 

Nov 17, 2010 09:23 AM #7
Rainer
147,546
Don Spera
CR Property Group, LLC - East York, PA
Serving York and Adams County, PA

BPO's are not worth the paper it is written on if the ones doing this service are from out of the area.  Numerous REO's are so overpriced because of this, and then the houses just sit and become more stigmatized.  The Lenders need to hire local agents to do these, as the price can be much more justified and not puffed.

Nov 17, 2010 09:32 AM #8
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Rainmaker
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Scott Godzyk

One of Manchester NH's Leading Agents
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