Trying to sell our house

Rocks526 · August 2013

DH and I listed our house the past weekend, however we have not had anyone come see it. I know it has only been 4 days, but I thought we would have had at least one call by now. We live in a very desired area. When should we become concerned if we don't have any showings? When did you start getting calls to come see your house?

mgarza1231 · August 2013

I don't think you should worry after just 4 days. If houses in your area are seeking quickly then I would re-evaluate your asking price after a month. I'm sure you'll have some interest soon.

Rocks526 · August 2013

Thanks, I hope so. This is new for DH and I, so we don't know what to expect. I know a lot of people are on vacation this time of the year, so that could be part of it.

cakergirl · August 2013

Over realtor's approach was leave the price as it is for 2 weeks. If in those 2 weeks you are getting a lot of showings, leave the price alone and hold steady, and eventually an offer will come in. If after those first 2 weeks you don't get any calls/showing then it means its likely overpriced and people who've seen it online in that price range probably saw it and didn't think it was "worth it". So his plan was to reduce by $500-1000 increments every 1-2 weeks until you start getting a lot of phone calls and viewings. He felt that once phone calls start rolling it it means you are near the right price range and you should then just hold the price steady again and wait for an offer. If a lot of time went by with lots of sowings but no offers then he followed up with the potential buyers to get feedback to see f there is anything we should change. Then go through another round of price reductions. What actually happened was the entire first 10 days we didn't get a single call so we reduced it that Wednesday by $2500. We immediately started getting phone calls and viewings. Multiple per week. But no offers. H followed up and the feedback from the buyers was "small for the price, overpriced, etc". So after a couple weeks we reduced several times again, and ultimately ended up selling in 6 weeks. We sold for 9k less than our original list price, which isn't bad because we knew it was probably overpriced to start with (he kind of warned us it might be, but we weren't in a hurry to sell at first and were ring hopeful).... Then practilly immediately after listing it to sell we found our dream home and got in a hurry to sell so started doing the price reductions. We were happy with how it worked out. And our house was in the 120-130k range in the Missouri if that helps. Good luck!

Sisugal · August 2013

Are you working with a realtor? (highly recommend doing so if you are not. )

Good photos on the MLS listing?

How many other homes in the same price range in your area currently for sale? How does your home stand out among them? How many recent sales of similar homes in the past month?

4 days is much too early to worry. Give it a month - then drop the price. I

When priced right for your market, it will sell.

mcskatcat · August 2013

We just listed as well. The thing I would definitely recommend is doing your own research. Don't just blindly follow whatever your realtor tells you. I would do a search on realtor.com to compare both active/contingent listings to your home, as well as do a search and look at recently sold homes.

Your realtor should also have listed PLENTY of photos that are clear. I was just looking through comp listings this morning and couldn't help but notice that some of the crappy listings had really bad photos. You should probably have at least 10 photos.

I don't know that there is a normal for showings. We just listed Saturday, and some nights we've had 3-4 showings, and then last night zero. I don't think there is a usual, so just wait it out for now! I know it can be stressful. We're already dying to get an offer because there's a lot of stuff flying off the market in our area, but we know we have to be patient. Best of luck!

Rocks526 · August 2013

Sorry for the delay in responding, I have been busy.

eywj- Thanks for the advice. We have our first showing tomorrow.

Sisugal- We are working with a realtor who was referred to us by our credit union. There are 27 photos listed on MLS and they are all nice pictures.

This area is very popular, however there is a lot of new houses being built in the area. Our house is 20 years old, which isn't old. They are building a new community about a mile or two from our house with single family homes and town homes. The single family homes are starting at 500k and I was told the townhouses are going for 424K.

Our price is listed in the higher range for the duplexes that recently sold in our area. The house is listed for 324,900.There was a duplex that sold for 320,00 in June. There was another duplex that sold for 300k this summer. Then there is a duplex that is listed for 275-280k, I can't remember the exact price. There is a single family home 2 streets over and it's listed at 424,000.

I think the main thing that would stand out to people, is that our house is a corner house and the yard is slightly bigger. The other thing that might stand out to people is the fireplace. Some of the duplexes have them and others don't.

Trying to sell our house

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