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!
Your photos are okay, could use a wider angle lens. But, the comp.s are the comp.s. The house next door also had a pool and nice paver deck area.
If it's not priced right I feel all of your efforts will be in vein. I would really try to get the price to the correct level.
Unfortunate fact is you will NOT sell every house for the amount that the seller believes it is worth. Just the way it goes sometimes.
When I first list a house, I try to figure out who would want to live there and where would those kinds of people come from. Then do some marketing at those folks.
Some for instances:
- Listed a home a while back in an area that had a small private airfield. The market was dead at the time. So I looked into private aviation a bit. I discovered that folks could hanger their airplanes for far less money than some fields to the north. So I started advertising to the folks at those other airfields and in online private aviation focused web sites. Ended up selling to a non-pilot, but I went from no offers to multiple offers - which included two offers from pilots.
- 5 bedroom house. Your case... and one I have had to deal with. I usually then market to homes with 3 or fewer bedrooms in the same town. You are looking for that family that grew just a little bit more than they planned. They don't want to move away. They have jobs and just need more room. My local title company can actually do some pretty amazing filtering of addresses. So maybe in your case, you look for folks with 3 beds that have a household income X% above the average of the area. Try to figure out a couple of things that would make the house interesting to someone. Maybe its near a great hiking trail or a lake that allows boating. Something you can pin some marketing on. I would also try and get a list of rental homes of about the same size in the area and market to those folks as well - meaning the renters who might be open to looking into buying. In that case, you will want to team up with a lender and as part of your mailer, create some for instance loan cases so folks can see they actually just might qualify.
Hope that helps,
Have you called the brokers that showed your listing to get feedback from them. I typically CALL every broker that shows my listing. I will send them an email if they don't answer their phone. Phone calls are my preference because you can ask lots of questions and get feed back from the potential buyers perspective.
The most likely problem is price. Every home sells at the right price. A good indicator of whether you listing is priced right is by the number of showings.
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.
How does the home show? Does it have neutral colors throughout, good curb appeal, clean & orderly? Most homes that sit on the market are either overpriced or have underlying issues that scare the bejeezus out of potential buyers.
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