Our house is priced right, it has received great feedback, great staging on the reviews, and 9 showings over the past three weeks. No offers….. what now? We did not expect selling to take this long.
First, hats off to your real estate agent! 9 showings in 3 weeks during Christmas and New Year is really good in our current climate. As interest rates have climbed, showings have gone down. 5 months ago, I would not have been impressed, but in today’s world I am. Patience is the new (old) trait that everyone is going to need to get used to again. We are getting back to “real” real estate where things can take 60, 90, or even 120 days to go under contract. We are back to looking for a more specific butt for the saddle on most properties.
It is clear from the traffic that your home is appealing to online buyers, so you can feel confident that the online marketing is doing its job. It is also clear that your price must appear very reasonable, heck even a pretty good deal, or you would not have as much traffic as you do. I wonder if you have had any 2nd showings? If you have, then that would change things a bit….. for the better. It sounds like your feedback has been very good, bordering on complementary and that is typically a wonderful sign. But at some juncture, it becomes about contracts and not just showings.
Statistically speaking a home seller should receive an offer after 10-12 showings. I have always evaluated our listings using 12 showings as the bar for an offer. I also tend to look at everything every 30 days as another measuring stick. From your feedback, I would say you are right to be pondering your next step. You can control 3 things in real estate…. Condition, Marketing, and Price. Other than those 3 things, there is not much you can control so focus on those 3 things and let everything else sort itself out. It sounds like your home is being marketed properly. Your home must be in good condition, or you would be hearing things like “dirty”, “cluttered” or “needs a little TLC”. So, this leaves price as the only other thing you can control!
Ugh… the dreaded price discussion. I have never met a seller who likes the “price adjustment” conversation. I know… you said your house is priced right! With 9 showings in 3 weeks over Christmas and New Year, it must appear to the consumer to be “priced right” or they would not come. If it’s in good condition, it’s showing over the slowest 3 weeks of the year and is “priced right” why is it not selling? I would guess that you have a specific property feature, whether it be floor plan obsolescence, too many stairs, a busy road, un-kept / ugly neighbor, barking dogs from neighboring yards or whatever odd thing you can think of that is holding your home back and ultimately none of these are easily fixed. All of these items boil down to one of 2 things… price or patience.
At this juncture, I would encourage guarded patience. If it’s a busy road, then you need a buyer from a big city. If it’s barking dogs, you need a dog lover or someone hard of hearing. If it’s too many stairs, you need people who see stairs as a fitness aid. I hope you see where I am going…. You just need the right butt for your saddle. If you do not have the time or the patience, then adjust your price and get it sold! My bet is you are not very far off and your buyer is closer than you may think.