Q: I’ve had my house listed for six months and it has only been shown twice. I have a beautiful home and I just don’t understand why no one is interested. Do you have any thoughts of why there is no activity?
A: There are a lot of factors that could play into this, and without knowing everything about your personal situation I cannot give a specific answer. In my opinion, though, a lack of activity on a listing is usually a result of one (or both) of two things: price and/or exposure (marketing).
When prices were climbing it was not a problem if you over-priced your house because the market would catch up. But now that we are in a fluctuating market it is so important to be competitively priced.
You get the most activity when a listing first comes out, and if you’ve priced yourself out of the market you won’t get this activity. Buyers have a lot to choose from and when they see they can get way more for their money than with your house, they won’t even bother to look. Then if you are not quick to adjust you find yourself on the market for a really long time and buyers start thinking “there must be something wrong with that house” – even if you are finally to where it should be priced.
In the end, overpricing your house could result in you getting way less and in a much longer period of time than if you’d priced it right in the beginning. Your Realtor should be able to help you price your house fairly, and give you the facts and figures as to why it warrants that price. Be wary if they simply agree to whatever price you suggest, without first doing a market analysis to support it.
Another factor could be a lack of exposure. If buyers don’t know your home is on the market, they can’t buy it. Ask your Realtor what they do to market your home to get it the most exposure. I provide a marketing plan to each of my sellers outlining the things I will do to get the most exposure for their home, so they are never left wondering if there was an exposure issue.
Many home buyers today search for homes on their own via the Internet, open houses, etc, so just listing it on the MLS may not be enough anymore. And if you are absolutely certain you couldn’t get any more exposure for your home I recommend you re-visit the price issue discussed above.
Contact Lara Wells Osborn at Coldwell Banker C&C Properties – Westside, 1801 Buenaventura Blvd., Redding, CA 96001. Cell: (530) 276-3026. Fax: (530) 419-1167. E-mail: laraosborn@ccproperties.com or www.larawellsosborn.com.
