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ewelina_marut

Selling a Townhome

8 years ago
last modified: 8 years ago

Hi All, I listed a townhome in the Minneapolis suburbs 9 days ago. So far, 12 showings occurred, but we have not gotten any offers. This concerns me because other comparable properties in the area are selling very quickly (3 to 9 days). Ours is actually the last one left in this zip code in this price range. Given that the market situation is pretty good for sellers, I am starting to think that we are doing something wrong here. Any advice will be appreciated! Thanks.

Comments (21)

  • 8 years ago

    The comparable properties you're referring to, are they townhomes as well?

  • 8 years ago

    It would help if you stated which suburb in Minneapolis or part of the metroplex. It does make a difference in that area.

  • 8 years ago
    last modified: 8 years ago

    And how are you priced compared to your 'comparables"?

  • 8 years ago

    Has your realtor checked back with the agents for those 12 showings for feedback? What are people saying?

  • 8 years ago

    The carpet in the pictures appear to need cleaning. If towels have not been removed take them out. The potted shrubs/trees in the picture are a little strange. Since there have been showings it may be location. https://www.zillow.com/homes/for_sale/fsba_lt/townhouse_type/59082479_zpid/globalrelevanceex_sort/45.18246,-93.328772,45.125322,-93.472795_rect/12_zm/0_mmm/?

  • 8 years ago

    I took a quick look. The highest sale is $179k in your neighborhood but there are no interior photos to see it's condition (that I found). Do you back up to a busy street or other detrimental condition that we can't see? How does your home smell? Believe it or not, that makes a huge impact when showing buyers - negative or positive.


    If the highest closed sale is $179k for your townhome style in the neighborhood and you are a first time home buyers neighborhood, your likely buyer is going to use FHA or VA financing and your property won't appraise even if you get full price.

    Reconsider the price. Look for those intangible negative items (smell, busy street etc, lack of windows) and reprice with those items in mind.

    If I am wrong about your neighborhood being a first time home buyers type neighborhood, and I could be wrong as I'm a Realtor in S Fl, then have your Realtor detail for you what type of buyer you are going to attract and the financing they are going to use. Most of us do that for our sellers so we can position the property properly in the market.

  • 8 years ago

    OP wisely removed all of her comments and reduced the price. Good luck OP. I think you are on the right track.

  • 8 years ago

    Denita, your comments are sensical. The question is how do you attract buyers with FHA financing? Should the house be marketed on particular sites? Just curious as I know nothing about this.

  • 8 years ago

    The market for first time home buyers is usually, but not always, FHA or VA or a conventional loan with a low down payment. These mortgage programs are marketed to renters that want to own a home.

    The best way to attract the first time home buyer is to make it easy for them to use their FHA/VA financing for which they are already approved. To do that, make sure your agent has selected the FHA/VA options in the "terms considered" portion of the MLS. This tells all the agents that you will consider that type of financing along with conventional financing. Some Realtor's wrongly attribute additional costs to an FHA loan and routinely skip that option in the MLS. Once you do that you open up that entire huge market.

    As to websites, your Realtor should be using as many websites as he can access. Most of the major websites auto-populate with the information directly from an MLS feed. There are other websites that your agent can create affiliated with a lender he may use regularly. Your home can have it's own website with your address and your agent can market that website on line. He will know this info.

    Don't under estimate the power of post cards to the neighborhood. This is an oldie but goodie as many in the neighborhood want to bring their friends there too and the post card prompts them to call their friends and look online at the property photos. Particularly in a neighborhood for first timers or retiree's. Discuss with your agent what his marketing plan is for your home with the new pricing.

  • 8 years ago

    I love the post card idea! However, how do agents know the addresses where to send them? Do they just do google maps?

  • 8 years ago

    No, we have tax data/mailing addresses in the MLS that we can download to send to the entire neighborhood or beyond.

  • 8 years ago

    Denita thanks for your input. Two realtors showed our house twice in a week, and I am now wondering if it's same buyer looking at it twice or different buyers with the same agent?? What's more likely based on your experience?

  • 8 years ago
    It could be either circumstance. Your agent should know whether it is a second showing to the same buyer or a different buyer because we supply that info when booking the showing request. Normally your agent would tell you at the time the second showing is booked. Is your agent providing you feedback?
  • 8 years ago

    I only see the name of the agent that is showing...nothing else. However, I will ask. Denita, I think I owe you a drink or something else you prefer

  • 8 years ago
    last modified: 8 years ago

    lol...no drink necessary.

    Are you looking at the Showing Time dashboard or something similar? The agent info is more comprehensive and that is where the notations of second showing(s) show and other information.

  • 8 years ago

    Yes, it's just a sellers dadhboard with basic showing info.

  • 8 years ago

    I just realized these agents showed twice bc they need to ask me for permission via text.

  • 8 years ago
    last modified: 8 years ago

    Contact your agent for details.

    ETA: I just saw your most recent response. Are the showing agents contacting you directly? That's unusual. In my area the showings are booked electronically (typically) and through the listing office/listing agent so there is a continuous record of each and every showing date, time, agency, agent etc. We don't step over the line and contact the seller directly unless directed to do so by the listing office. This usually only occurs in what we call 'limited service listings'. Do you have a limited service listing? Another name for these type of listings are discount brokers. These types of listings affect the days on market too.

  • 8 years ago

    Denita, anyway I could connect with you via private message? My email is ewelina1234@yahoocom

  • 8 years ago
    sent you an email