No offers on my house :( Help

Buying & Selling Real Estate
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No offers on my house :( Help

Sigmund Reboquio
Fremont, CA · Member since 2016 · 48 posts · 5 votes

Hello guys, 

My second day here at BP and Im loving it!

Can you please give me some feedback as to why there were no offers on my house?

https://www.redfin.com/CA/Fremont/3019-Paine-Ct-94...

I know that most likely the answer is the price, but Id like to know more about how can I get a higher chance of getting an offer.

What do you think I still need to do in order to get offers? Is 17days bad already?

Any feedback and suggestions are greatly appreciated.

thanks

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Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
10y
Originally posted by @Sigmund Reboquio:

I have an agent from redfin, I just took her suggestions. It was actually 1.07M but no offers so we had to lower the price to 999k

 Ah yes...the agent!  Learn your market so you can tell the agent what to list the price at.  The Agent's #1 goal is to get the listing...so they have a tendency to promise the moon, and deliver a small star...which is what you should be listing it at in the first place.

The net result is you are going to be dropping your price a few more times before you get an offer...and that offer will probably be lower than you might have gotten had you listed the correct price from the start.  Why?  If you looked at a property that had to drop the price a number of times, what would your reaction be?

Look at the sold homes in the area that are within 10% of the sq ftg of your house and use those as your comps.  Now, to set your price, look at the date when these property listings were removed...not when it says they sold it, but when it was removed (the removal just before it says "sold").  Count the number days back to when the previous price changed to the sold price...and those are your days on market to sell...at the correct listing price.  The properties that have a short DOM this way, set your sale price based on those properties, and you'll sell much faster. 

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    Delist, fire Redfin, hire a good agent. Redfin has no idea what they are doing. Any agent who has a clue leaves then to join a real brokerage where they can make some money. Agents who work for Redfin only do so because they have no other choice.

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  • Jonathan G.
    Investor · Marietta, GA · Member since 2015 · 382 posts · 258 votes
    10y
    Don't be foolish. Take the offer. Seriously, just don't be that person that's blows the deal / offer. Don't get greedy and end up regretting it later.
    0Reply
  • Sigmund Reboquio
    OP
    Fremont, CA · Member since 2016 · 48 posts · 5 votes
    10y

    thanks @Russell Brazil and everyone.

    Update: The agent and I have agreed to give it one more open house, then if no offers I will take it off the market. 

    As of today, no offers and the last offer I mentioned was just verbal, and you guys were right, the offer was lower than the asking price. 

    I am currently searching for a demolition teams to remove the ramps and find a landscaper to make it look good.

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  • Sunny D.
    Pleasanton, CA · Member since 2015 · 246 posts · 115 votes
    10y

    Before spending all the money on demolition etc. interview some local well reviewed realtors and see what they say, may be they have some creative ways to cut costs. Why r u still working with a agent who doesnt know how to price your neighborhood

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