54 showings, no offers...

[Account Closed]

I listed a flip in April 2018 at a price even with the surrounding neighborhood $224k ($80/sf) in my market. I’ve had 54 showings and not a single offer. I’ve dropped the price $5k/month and I’m getting concerned because we’re going into the winter months. All our feedback says it's a "beautiful house but not right for my client." What should I do?

[Russell Brazil]

Originally posted by @Account Closed:

The house is a 5 bed/3.5 bath plus an office. Entirely remodeled (kitchen/baths/floors). A couple people have mentioned they didn't like the floorpan. 1 feedback said they don't like how it backs up against a major road. 1 feedback said they didn't like the way the garage smelled lol. The majority of feedback has said "Possibly interested" and "priced right". ~4 realtors said our house was a finalist for their client to offer on.

 Your agent should be working to get these people who make it a finalist to make an offer.  Getting an offer out of someone is a very specific skill set, one that seems your agent may not have.

Also backs to major road...in my market...thats going to be a $25-$50k less in value than properties that are not backing to the road. Selling these kinds of properties is always going to be hard.

A $5k price adjustment is nothing.  If your property is at $225k and you drop it to $220k, thats not getting anyones attention. If someone was going to make an offer at $220k, believe me, theyd have made an offer at $225k.  Price drops need to be dramatic to get the consumers attention.

Delisting the property and relisting with a new MLS number, if your MLS allows it will make it look fresh on 3rd party websites. That too is on your agent if he hasnt done that.

Doing a brokers open to get brokers/agents in there to give honest feedback always helps. Also, this goes back on your agent.