I Recently Listed My Clients House and....

[Beck Hakberdiev]

It's NOT SELLING.

I am a recently licensed Realtor in the South Florida and I ended up listing my clients house recently at the end of November. However, there have been no offers on the house. There have been around 5-6 home previews on the listing from various buyers but no offers. I listed the house for $410,000 and it is a 5 bedroom 2.5 bath house 2,956 living sq ft. I did a CMA and at the time I was using comps from August. The problem is the community is located in a very single family oriented gated community so therefore most families do the moving during the summer. There was a house that recently sold ( In December) RIGHT NEXT DOOR to my listing that sold for $499,000 ( 5 bedroom 3.5 bath 3,456 living sq ft) in 7 days while my sits on the market with no activity. I just want to know how to sell my parents house ASAP. Unfortuanely, the sellers do not want lower the price by more than $10,000. There also has been some new very competitive houses around the area that have more living sq feet for less money.

My question is, what can I do to SELL the house soon while not giving it away for a steep discount??? I was thinking to do more local outreach on the internet with other realtors and tell the about the current listing in order to sell it. Also, I was planning to add more professional photos (HD Quality) along with a lower price tag by $10,000. What do you guys advice??? I really want to close the deal. Thank You!

[David Hunter]

Beck,

You need to talk to your sellers and tell them that everyone who's looking up to $400,000 will never-EVER see their house.  NEVER-EVER-EVER.  $410,000 is a horrible number (Just like $399,000 is a horrible number, etc.).

If they lower it to $400,000 they're opening themselves up to a whole other market.

When prospects search online, what do they search?  Are they searching $299,000-$415,000?  Heck no!  They're searching $300,000-$400,000.  Unfortunately, for your sellers, they're missing that market by $10,000.