No offers or low offers

Ten showings with no offers

Getting your house ready to be shown is not always easy. Sometimes it’s quite a job. if you are living in the house, and if there’s more than one of you, especially if there are children living in the house with you, it can be a daunting task to get ready to show it.  It’s not just having company visit, it’s having company visit who will inspect your house. Closely.
Sometimes going to see a house is also a chore, especially if there is more than one involved in the tour. And I mean if you have a spouse and children involved and I also mean if you’re involved in seeing more than one house on the same trip.
So showing is not a piece of cake for buyers or sellers but especially sellers.  If there is excitement, if there is interest and a lot of questions, and if there are offers, this time is more exciting and enjoyable.
But to get ready for and sustain several showings with no offers is disheartening. In fact, some brokers and trainers say if you have 10 showings with no offers, then it is time to change your price. You may be certain that you’re priced correctly, but you should have an offer by this point.
There is a group of people some call bottom feeders, who make it their business to continually make low offers on properties. Sometimes they buy one and can make money by reselling it.   Those people are sporadic enough that I don’t really count their numbers in the numbers that I use, so if you get a bottom feeder offer, then I don’t give that the same value as a serious offer.
So when something needs to be changed, the price is probably the easiest thing about your house to change

If you receive three offers that are serious…

If on the other hand, you do receive offers and they are not necessarily bottom-feeder type offers, but they are too low, that is disappointing. If it becomes evident that this is a trend, and you receive more offers that are too low for you, some say after three offers of that nature it’s also time to drop the price. You may have your sights too high.
In other words, if either you get no offers or you do get offers and they are what you consider to low, then something needs to change. If the low offers are close enough for you to counter offer at a higher price, we are assuming for the purpose of this article that you did counter and were not successful.

It’s time to bite the bullet and drop the price.

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Broker Don Martin, founder and CEO of Martin Properties, besides helping hundreds of FSBOs save thousands of dollars, also delivers seminars, keynotes and motivational messages to real estate and sales professionals. His 30+ years of experience in sales, marketing, real estate, promotion, management and technology has empowered thousands to expand their knowledge and achieve their goals. Connect with Martin Properties on Facebook, TheReasonableRealtor.com, MLS-TODAY.com or Amazon.com.