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ON market for 2 weeks now...

Posted by on May. 24, 2010 at 10:00 AM
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Only had 1 showing.   The first week of course it rained (flooded) Nashville, so we didn't expect anything that week.  Last weekend we had 1 showing.  If we don't get any more calls this week, we are planning to lower the price $5K!

Also, Open House planned in 2 weeks. ANy advice for Open House?

by on May. 24, 2010 at 10:00 AM
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tenacity
by Group Admin on May. 25, 2010 at 9:30 AM

 Not to bust your bubble or anything, but truly... open houses are a great way for Realtors to get buyer clients for other houses. 

I put minimal stock in selling the home I'm sitting in to a buyer that comes to look at it.  It just doesn't seem to work that way.

In all my years in real state it has never happened.  When I get low on buyer clients I have an open house to pick up one or two. 75% of people that go to open houses are just looking.  Like they may not even be in the mood to buy a house, inquisitive (ok, nosey) neighbors. People might be looking for decorating ideas and such.  Happens all the time.

One thing I have done in the past is to advertise a drawing.

For instance, bring me a copy of your pre-approval letter and get in the drawing for $50 gas cards or Target giftcards or one time I did an ipod.

Nobody came to my ipod open house. (lucky me? saved a buck.)

But, 18-20 people came to my gas card one.  So, as you can see, it is luck of the draw/hit n' miss.

The catch is to get them to bring their pre-approval so at least you know you're dealing with legitimate customers.

Just a note:  this next issue IS market-specific but I cannot imagine that you would lower your price in two weeks unless your  Realtor started you out high for some reason.  I think a month to  lower would be better unless you have a dire need to sell yesterday.

Good luck!

 

ycnim
by Member on May. 26, 2010 at 12:52 AM

Thank you so much for the great info!

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