I have racked my brain and can't come up with other ideas at this point and am looking for some advice. I have a listing for a SFR that has been on the market for three months and has seen little traffic. I have an agent who does a good job for me who has put on 3 open houses and placed the listing on all on-line profiles (Zillow, Redfin, Trulia, Facebook, FMLS, etc....). I have even posted my house on my social media outlets. Still no traffic. The agent is telling me that it is a slow market and there, historically, has been upticks in the last part of the year.
Would anyone be willing to share other "out of the box" ideas as to how I can increase the traffic to my listing?
Thank you much in advance.
@Jason D. I agree. I have lowered it twice. Due to a contractor issue that made me have to redo his work which in turn made me miss the summer selling season, my margin is way thin at this point.
So the home has been on the market for 90+ days with little traffic. Did you receive any feedback from the little traffic you did have? If not this is a must. Open houses are great, however if you are not getting buyers through the door the open houses are useless... What do you have that separates your home from other homes currently listed? Are others sitting on the market as well? Just some food for thought.
@Trenton Miller When it was first on the market at $224,900 we had a contract in 3 days. This fell through with 48 hrs left of the DD period due to a husband & wife issue, not the house's. Since then, the most consistent feedback is that they wish all 3 BR's are on the main level as some of the elderly lookers can't do stairs well. But, the way the original floor plan was the master BR had a 1/2 bath so had to use an adjacent closet for the shower. This in-turn made me combine 2 BR's into a master suite. In order to get a 3rd BR, I had to finish out the basement. The master suite should set this house apart due to its large walk-in closet, which is not prevalent in this price point or market.
@Jason D. You are correct with the "costs don't make it worth more money." I agree. I am not one to just say my house is better than the rest just because it's mine. I think I'm a pretty realistic guy. I am a commercial RE appraiser by day and have a good idea of values. However, commercial property values appear to be different than residential values in this case. haha.... you make a good point about the listing getting stale.
@Mason Carter Sounds like it is at the online places. If there is a large employer in the area get some flyers up there in break rooms and bulletin boards. Also go old school with Sunday newspaper ads and postcard the neighborhood it is in. I know people say it doesn't work, but there is a group of people who don't know they want to buy so are not looking online. For instance "If we could just move your mother up here it would be so much easier then driving 3 hours to help her every other weekend. Oh wait there is a house in our own neighborhood?". When that postcard shows up they start to realize someone they want to live there. Believe it or not I have had neighbors buy a house for sale in the neighborhood and list theirs because they liked it more.
@Mason Carter here are a few suggestions that might help you with the listing:
#1 Re-evaluate the photos- Are there enough photos? Are they well lit? Do they highlight the best features of the property.
#2 Double check the copy in the listing (see #1)
#3 Leverage relationships- Is the Realtor reaching out directly to other Realtors to help sell the property? Has he had a Realtor/Broker open house?
Theses are a few simple but effective tweaks that you may be able to make (in addition to the other things people have suggested here) that can help you get that property sold.
Do a facebook live video from your business page walking thru the house, boost it, those are cheap views.
Well, the third bedroom in the basement may not be a “functional obsolescence” but in most cases it will be a “functional undesirable feature”.....it’s not going be viewed the same all bedrooms on the main floor. Is there a bathroom down there with the bedroom?
@Mike Cumbie Interesting ideas. Thanks.
Thank you for all the great responses. This fourm and the peope in it make this a wonderful resource. Thank you again.