Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
According to agents here, they don't set the price, you do.
Well, I think what your saying is that agents here didn't set the price, their clients did, right? I don't think we can say what Nikki's agent did or didn't do since we weren't present.
Yes, you should be talking with your agent. 2 weeks, no showings, could mean the home is priced to high, no exposure, etc. But the only person who is going to be able to answer those questions for you is your agent. Hopefully before you listed your home you had some answers that you should be able to expect such as:
- Understanding the average days on the market for your neighborhood and surrounding area.
- Where your home's price fits into the market, is it high, average or low. Along with a review of what other homes in the area have to offer.
- What exposure can you expect from your agent, i.e. marketing materials, open houses, etc. When was your home placed on the local MLS.
Also go to some open houses, check them out, ask questions about how long they have been on the market, how they look, etc.
Well, I think what your saying is that agents here didn't set the price, their clients did, right? I don't think we can say what Nikki's agent did or didn't do since we weren't present.
I agree w/you 100%, we're not there.
What I'm saying is a realtor will never admit to "setting a price" according to the realtors that post on this website. They will advise a "range", but never a specific price. (even though I had a realtor in the past recommend one...)
Hmmm... so I guess they didn't think they were capable of painting the wall
I know......... I was lost on that one too. I mean if the basics and the floorplan & location work GREAT for the family especially w/ an autistic child you would think repainting a room would be a not so big "sacrifice".
What I'm saying is a realtor will never admit to "setting a price" according to the realtors that post on this website. They will advise a "range", but never a specific price. (even though I had a realtor in the past recommend one...)
House on the market for 2 weeks and no showings, with the market the way it is , is this typically or do we need to talk to our realtor? We don't have alot of money to invest in it.
I could not disagree more with most of the posters here. No showings in 2 weeks means that the house is not priced competitively with its competition and/or nobody knows it's on the market. It's time for a chat with your agent.
I could not disagree more with most of the posters here. No showings in 2 weeks means that the house is not priced competitively with its competition and/or nobody knows it's on the market. It's time for a chat with your agent.
Or there's a glut of houses to choose from, or the weather is just not at the point where all the lookers are out, or, or... you get the point... These blanket statements always make me chuckle..
First, it's not always the price, well I guess if you dropped the house to $2.00it'd sell in an hour or two. 2 weeks between showings is not horrible imo, of course that also is dependant on the local market and what kind of traffic your comps are getting.
We haven't had a showing in months but then again neither has anyone around us and in our price range there are many houses. Before you say "change your price range, that's the problem" I'd have to knock 200k off the house to get out of the glut range and at that point I might as well sell for $2.00.
It is not always the price.
Remember that today it is Location, Condition and Price.
Also, there are many homes for buyers to choose from. Perhaps the right buyer has just not come along. With so much inventory on the market buyers have a lot to choose from. Lowering a price does not guarantee that someone will come and buy that house.
The average days on market for an area, and community need to be considered.
Last week I showed my clients several homes that were the same model, and same square footage, with different upgrades and slightly different floor plans in one community. The most expensive was 152 sf. The least expensive, and this was cheap for the community, was 125 sf. The average in the community is around 138 sf.
The 125 sf house has been on the market for over 400 days, and yet it is the cheapest price. If there were not so many homes on the market, giving people so many choices, this home would have been sold. Today there are three of the same model that we looked at, and there are others.
The draw back to this home is in location, and lot size. It backs up to a busy thoroughfare and has a small back yard. This is a retirement community and people don't really care for a large yard, but they are concerned about the traffic noise when they are in the back yard.
They could probably lower the price to 100 sf and it still wouldn't sell until there are no other competing models. At the same token if there were no other competing models, it would probably sell at 138 sf.
So at 125 sf it is priced aggressively, accounting for the location and lot size; and one day the right buyer will come along. The home is marketed by a savvy realtor who is doing her job correctly. She called me the day following our showing and asked me to discuss the home with her because she said she had experienced a lot of tough sell homes, but this was the toughest she has experienced.
It's not always about the Price.
It's about LOCATION, CONDITION, AND PRICE.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
)
