Getting potential buyers to your open house is great, but it doesn’t always convert to serious offers. Read on for insight into some common setbacks for buyers and easy ways to attract more offers to sell your home quickly!
Updated July 12th, 2019
So, you’ve spruced up your home and got it sparkling clean, put in on the market, and even had loads of people at your open houses! But, you have had no offers even in the ballpark of acceptable. What gives?
Don’t despair — there are a few tactics you can use to hit a restart and get back in the game. I
If you haven’t yet begun working with an experienced, local real estate agent, now is the time to call on their expertise of the market and their honest opinion of why your home isn’t drawing any offers
What are some common reasons homes don’t get offers?
One of the most common reasons a home doesn’t get offers is incorrect pricing for the market. While you may assume this means pricing too high, this isn’t always the case. Sometimes pricing low causes potential buyers to think there is something wrong with the property and avoid visiting an open house altogether.
Other times, there may be something so striking about the home that it turns off potential buyers, even if it’s a simple fix. For example, your grandma’s creepy antique doll collection placed strategically around the house may sear their image into the brains of home buyers. Remove them! The same may be true for that cool orange retro bathroom.
4 Tips to Attract More Offers
1. Consider Finding a New Real Estate Agent
You should always be happy with the service provided by your real estate agent. You are paying them, after all. Their individual commission on your $200,000 home will be something like $6,000 before broker’s fees. If you’re not satisfied, it’s okay to fire your agent and opt for another that better fits your needs.
Do you have foot traffic but no offers?
Consider a new top agent with the experience you need to sell.
2. Adjust Your Listing Price
As mentioned before, your listing price may be way off the mark. A good agent will provide you with a comparative market analysis (CMA) to tell you how your home stacks up compared to other similar ones in the area.
Unlike a Zillow Zestimate, a CMA conducted by a real estate agent includes entering your home to value it. They’ll take into consideration important details about your home like recent renovations and repairs, then determine a listing price based on nearby homes in similar condition.
Look at your current listing price and see how it compares to the CMA. If you find it’s priced too high, a 3% to 5% drop may do the trick. But, avoid continuously dropping the price — this signals to buyers you don’t know what you’re doing or that there’s something undesirable about the home.
3. Make Impactful Improvements and Repairs
Keyword here is “impactful.” Sellers can get carried away with upgrades to get a sale. But, it may end up costing you money in the long run. Work with your real estate agent to identify the most bang for your buck.
Usually simple upgrades like new cabinet handles, fresh paint in an obnoxiously colored room, or replacing that terrible brass light fixture in the bathroom can make all the difference. But, if you have a major issue like foundation damage that may hold your home back, consider remedying it — buyers don’t want to think about forking over the cash for the fix on top of purchasing the home itself.
4. Amp Up Your Marketing Strategy
A simple yard sign won’t do the trick these days — more and more home buyers find their initial leads online. If you’re getting a lot of showings but no offers, you may just be attracting the wrong buyers. Make sure your agent has taken great photographs and posted on popular sites like Zillow, Trulia, and Facebook, besides more traditional marketing tactics like a multiple listing service (MLS).
Your listing description should be accurate, even if there are undesirable aspects. If there are major repairs needed, note this in the description — you don’t want to catch people off guard when they visit your open house.
A great real estate agent is key to generating quality offers on your home. If you’re not currently working with an agent, or aren’t satisfied with the one you have, consider a Clever Partner Agent to help you get more offers.
Partner Agents are top-rated real estate agents from major brands — like Century 21 or Keller Williams — who are experts in their local markets and the value of homes in the area. They offer the same full service as other agents, the only difference is that they have agreed to work for a flat fee of $3,000, or 1% if your home sells for more than $350,000. This means the same quality service of other agents, but more money in your pocket.
But, you only get the discount if you connect with the agent through Clever. Contact Clever to learn more and get connected with a top, local Partner Agent who can help sell your home quickly and for the best price by getting you more showings and more offers.
Top FAQs About Getting More Offers for Your Home
1. How do you appeal to a home buyer?
Here are a few ways to make your home more appealing to home buyers:
- Price It Right.
- Catch Up On Small Repairs.
- Get It Sparking Clean.
- Neutralize colors (and odors!)
2. Is an open house a good idea?
Open houses may not be a bad idea necessarily, but it’s more likely that a serious buyer interested in your home with set up an individual showing with their listing agent to come look. While open houses probably won’t do any harm, they draw in more tire kickers and nosy neighbors than buyers serious about submitting an offer. Most buyers find their homes online today, so while an open house may attract some additional buyers, your home’s eventual buyer will likely find your home through the MLS or Zillow and schedule a showing.
3. How do you get people to come to your open house?
You’re thinking too hard! Here are a few simple ways to draw people to your open house:
- Use your online social network — create a shareable, well-organized post and ask your friends to help get the word out.
- Directional signs — not just one outside your house, place them on major thorough ways throughout the neighborhood.
- Use your neighbors — who has a greater interest in ensuring you home gets sold to great new owners? Make sure your neighbors know your home is for sale through flyers or speaking to them personally.
4. What helps a house sell fast?
- Simplify and declutter.
- Clean and clean again.
- Take care of small upgrades and repairs.
5. How do I make my house look good to sell?
First, declutter and get rid of any personal items like photos, unique decorations, or items on the fridge. The goal is to have the home buyer imagine the space as their own home. Hire a cleaner to scrub everything top to bottom — nothing’s worse than grime everywhere. Then, complete any small upgrades or repairs that may be an eyesore.