Since I’ve got a bunch of listings now, I thought it would be a good time to do a post about what you can deduce from your showings.
IF you aren’t getting any showings: More than likely your price is too high. It could also be your realtor, but as much as I hate to confess this, a house that is priced well seems to sell even if the agent is lame at presenting it online. If all the data on the listing is correct (schools, size, neighborhood, zip code, etc) more than likely you aren’t getting showings because buyers and agents can tell just from what they see online that the price is too high. Now, if you have a gazillion dollar house or something very unusual like a 3000 square foot tree house on 10 acres in the middle of downtown, you aren’t going to get many showings anyway since the buyers for those properties are few and far between.
IF you get showings, but no offers: This is a little more tricky. Let’s assume that the house is presented accurately online……meaning no creative tricks like hiding the fact that the house backs up to a McDonald’s drive-thru, or that there is a toilet in the middle of the dining room. If there are no shenanigans, that means the buyers and agents feel that the house is probably priced realistically from what they see online, but the house doesn’t meet their expectations once they get there. It’s usually something they didn’t expect like the floor plan or the condition of the house. This is where you have to listen to the feedback. I know this sucks to hear for a seller, but if 7 out of 10 buyers didn’t like the house due to pink carpet in the bedrooms or the like, you are going to have to address that or wait around for a pink carpet lover to show up…..and in all my experience, I have not met that buyer yet. You need to change what you can to make it palatable for the buyers, even if you don’t understand it nor agree with it. Yes, carpet is easy to change for the buyer, but few will do it, and it is just as easy for you. Yes, you don’t know what color a buyer will want, but we know it ISN’T pink, so that’s a start. If the feedback is something you can’t change, like a steep driveway, your only option is to reduce your price to the point where a buyer gets more excited about the price than they are disappointed in the slope.
Bottom line is that you want to make adjustments to make your house one of the best ones on the market. A buyer will always pick the best house they can get, may as well be your’s.