Our house has been on the market for nearly a month, and we would really like to sell it as soon as possible! We’ve had countless showings and even a few open houses. The house is in good condition and we think we are in a great location. Have you had houses in the past that just don’t seem to sell? What can we do differently to ensure our home gets sold soon?
Judy and Bob, Grand Junction
Judy and Bob,
Fear not, you are not alone! Yes, I have had houses that just would not sell. But, keep the faith, I’ll give you some ideas of where to adjust to get your home sold.
I tell people all the time I am living proof you don’t have to be a rocket scientist to be successful at selling homes. The process, when boiled down to the basics, is quite simple. You want to be on target with the three things you can control, Price, Condition, and Marketing. It sounds like your agent is doing their job effectively from a marketing perspective. You have had many showings and they have even held open houses to help generate traffic and attract buyers to your home, yet no offers. It also sounds like the condition is good. If you have not received feedback that indicates that you need to make some changes to the condition, then it is likely that you are good there. Now all we have left is the price.
Where price is concerned there are a couple of ways to attack it. You can either listen to the market and adjust the price accordingly or you can choose to sit and wait till you find the right butt for the saddle. There are cases that can be made for both approaches. First, statistically speaking, you should have had an offer within 12 showings (on average.) If “countless” showings mean more than 12 then you really need to consider a price change. I have heard sellers say this countless times, “all the feedback indicates that the price is ok, nobody is objecting to our price so it must be something else. If the buyer is interested, they will surely make an offer.” I can tell you, this is faulty (but VERY common) logic. No offers and no second showings mean they are objecting to your price and likely purchasing something they perceive is a better value at a similar price. Believe me if a buyer smells value they will pounce! The “real” feedback you need to listen to is the lack of offers… But, if you hold out, eventually you’ll find the perfect butt for your saddle! I have seen both methods be successful, one just typically takes a lot longer than the other and is ultimately more frustrating.
To move the process along at a faster pace, be willing to adjust your price until you get the desired result. The good news is you have had a lot of showings so you probably are not way off, probably a 3-5% adjustment will do the trick! Talk to your agent and get their input on a proper price adjustment. I would bet your desired outcome is closer than it feels! Hang in there and best of luck. I hope this helps.