Hi, treat this post like a poll please. I'd just like to know from recent sellers on here. How many showings did your house receive before you got your first offer?
There is no average # of showings (at least any average that can be calculated is probably meaningless)... too many variables involved.
Condo - about 10
First House - about 12-15
Second House - 2-3
Third House - 6-10
For what it's worth...
Here's the tally for the house we're selling right now
1st open house: 8 'lookers'
2nd open house: 7 'lookers' + 2 agents
Individual showings: 7 (but some were folks who'd been to open houses, and returned for a 2nd look); a couple of those were people who came out to look AFTER we had gotten an offer on the house.
So that's a total of 24, but as I said, some were repeat visits.
Also, you may want to ask how long before listing and the first offer. In our case? That was 5.5 weeks.
We sold 2 1/2 years ago at the end of the summer. We had an offer in 28 days. There were three sets of 'lookers' that came through. The third set was our buyers. They made an offer after the second visit.
We've only bought houses that we thought we could easily resell. We built the house we are currently living in. We built it based on what we like, but in keeping in mind resale.
One and one.
Twice in a row.
Purchased before 'on the market.'
Last house -- Listed for 6 months. Had probably 35 different people look at, didn't get an offer. Took off market for 3 months. Put it back on at lower price, had an offer from the first batch of showings. I think from the 2nd or 3rd person to look at it. That was a couple of days after it was relisted.
House before that - About 20 showings. Was on market 2 to 2 1/2 months before the offer.
House before that - 1 - Offer made the first day it was listed...we never even had a sign in our yard.
Twenty-one showings (57 days on market) until 1st offer, which we accepted last month.
It seems like people's results are pretty variable.
Statistically according to Trulia the average home gets between 10-12 showings before the first offer. I ran that figure by my realtor who said the number of showings could realistically be double that before I should really begin to be concerned about not having any offers yet.
Our issue was that the lockbox was not correctly reporting the number of showings that my home was receiving. My realtor was under the impression that I had not been getting any showings when in fact I had been getting about 2-5 a week. So, since she hasn't been getting the buyers agents information, we've had little to no feedback from potential buyers outside of the open houses. We're trying to get feedback now, in order to ascertain whether or not there is an issue with our asking price or perhaps an additional improvement I need to make. Or ideally, it's just taking time for people to make up their minds.
So far my home has been listed for 31 days and I'd estimate I've have between 12-18 showings. No offers yet.
I think we had 20-30 showings, spread over about 9 months before an offer came in. The first month there was nothing, then a bunch of showings in early summer, then nothing in late summer. A few in fall, almost none in Nov/Dec. A few more last Jan,Feb,Mar before finally an offer.
In our area, the realtors use a service called MA-Pass to schedule/authorize showings. We'd get a call informing us that an agent wanted to show the house. In addition to that, we had a sign in sheet that most (~80%) of the showing agents actually did sign in on.
I think 12-18 showings in the first month is great. No offers isn't surprising, in most areas there's a lot to choose from. It's a buyers market. I think average DOM in my area is ~4-5 months.
They have a similar mls based system here. I almost always get a a call prior to every showing. It's from these phone calls as well as cards that have been left behind that I've deduced my approximate number of showings.
What neither I or my realtor know is whether or not their client liked the house, didn't like the house. Found a better or similar house at a comparable or lesser price, etc... What I'd like to hear is that a lot of people like the house but haven't reached a decision yet as to whether or not they're ready to make an offer. Is it still too early for me to be worrying about dropping my asking price?
The impression I've got from other comparable listings is that excluding short sales, my unit is the most home your going to get for the money.
Why in the world is your agent not being notified when another agent schedules a showing? 30 days is probably not long enough to conclude that you need a price reduction. But i am speaking in general terms, since RE markets are very local.
I don't know what your agent is doing behind the scenes, but our agent followed up with the showing agent and got us our feedback within a day or two.
Keep in mind that there may be nothing in particular *wrong* with your house. There's a lot to choose from, and a lot of "tire kickers" out there. What you need to do, if you're really anxious to sell, is make your home an unbelievable bargain. Something that people would feel crazy to pass up.
I think after a month, people are *expecting* a price drop. That's just how the market is. So many homes taking so long to sell, they're almost following a pattern. List at $x. After 4 weeks, drop $y. Another 4 weeks, another $y. Then it may increase to every 3 weeks depending on how motivated the sellers are.
In fact, as a buyer, I'm betting on that pattern. We had an offer (fall thru) so were in buying mode for a little bit. (Am still watching, following patterns) We would look for a home that was listed initially about 30-40% above our limit, then had a couple price drops, then knew that we could put in an offer another n% lower. That's just the game these days.
This thread is really interesting. Fascinating to see how others sales are being handled by their agents.
As I said, our house sold in 6 weeks. During that time, our agent was in constant contact with me. When a showing request came in, he'd call me to give me a 'heads up' and then the booking desk would call to officially make the appt. In EVERY case, my agent knew when the showings were, who the agent was bringing the potential buyers and IN EVERY CASE--and he always contacted the agent after the showing for feedback and got back to me.
I've been very impressed by the attention this young man has given us (and he's VERY busy--has a lot of listings, sales and closings. He lives behind me, and I know he works pretty much 7 days a week). But reading this and other threads on this forum, I'm appreciating him more and more and more.
Don't get me wrong, my realtor is one of the best in the area. The issue is more with the lock box, not letting her know that I've had showings. She was under the impression that I hadn't had any showings.
I really really hope I nobody is expecting me to drop the price, I'm already coming out of the gate $15,000 less than I should be asking. Having to compete with these short sales is just horrible.
I'm sorry--I honestly do not understand how your agent can NOT know about your showings, the appointments have to be made and recorded. The lock box is incidental--if one went by that, we'd have had no showings at all, because ours was never used. I met the agent and lookers so I could tell them a few 'invisible' features of the house, then I left so they could look at their leisure. So even though our lock box was never opened, we've had numerous showings, all of which--as I mentioned above--our agent was well aware of.
Also--don't you contact HER after a showing? In every case, I e-mailed my agent to let him know that the people arrived (or not, in one or 2 cases), and what my impressions of their interest were, so that he was best prepared when he spoke to their agents.
I'm not saying your agent isn't good--not at all--but her methods are very different from my agent's have been.
As to dropping the price? I live in the Northeast--where the housing market has been less affected by the economy than some other areas of the country. Even so, I haven't heard of any house selling for the listing price. We did get about $40,000-50,000 more than houses around here have been selling for in the past year, BUT we did drop our price about $15,000 from what we were asking. It's all well and good to have a selling price in mind, but I'd highly recommend not being too inflexible about it. Remember, that every month you carry that house, depending upon your mortgate, taxes, insurance, etc, it can be costing you $1000-1800 or more--so dropping the price so you can sell now, MAY be cheaper than holding out for another 4-5 months.
One last note? The entire time our house was for sale, there was another for sale just about 6 doors up. Same neighborhood, same great schools, similar construction, that house is actually slightly larger than ours. Our house was listed for $55,000 more than that one. That one was listed because the family is going to lose it if they don't sell. It concerned me a bit, that ours was priced so much higher, but it's worth the price, and we weren't in that big a rush to sell. Guess what? Ours is sold, that one is not.
Remember, it just takes that one right buyer who falls in love with your house--hang in there, keep showing, and it will happen when the time is right for you.
RE is very local. We have houses in our area that are selling for asking or higher.
And, the key boxes in our area are digital. If that is the case for the OP, it is possible her digital box wasn't sending info like it should have been to the realtor. But, if I were the realtor, I think I would have not assumed no activity if I priced it right, and would have checked on the keybox, or with my client.
Even if the lock box is digital, (all of mine are), the buyer's agent still has to call either a third party appointment center or the listing agent directly in order to set up an appointment. No buyer's agent is going to just show up at a listing w/o first setting up an appointment. Something here is not right.
We have had 3 showings in 242 days. No offers.
First house: 7 days, 8 showings and one offer. Second house: 700+ days four dozen showings and one offer. Same block about a decade apart.
Showings mean nothing. I have been involved in residential real estate as an agent, a broker, and a principal, over the past 20 years.
I'm sure someone will disagree, and this is not a hard/fast rule, but the first bona-fide offer you receive is usually the best.
We had 4 showings and 1 offer 2 weeks on the market FSBO. I agree that it is really tough to make comparisons. Our house was easy to sell because of its walking proximity to a large university, and walk to downtown and we have the largest lot around. Our house was easy to sell because those features are rare. When we bought it it had only been on the market 2 weeks. In fact one of the couples that came through when we listed it last month had seen the house 5 years ago when we bought it. My house itself is not that special but the location is really good.
The house we are buying has languished on the market for 2 years! It is a great house but was way overpriced. The sellers must have finally got weary because we are buying it for $35k under their initial asking price 2 years ago.
6 showings, 1 repeat, full price offer on 5th day. That happened this January. We're closing in 2 weeks on this house and new build. Haven't begun to pack. Will glad when it's over.
First two houses each sold within two weeks after no more than three showings each. Current house - maybe 20 showings and no offers.
We sold last fall. We had over 30 showings and had to drop our price over 50K, but it was about $100k less than some realtors told us it would go for originally. We priced it 50k less than they had suggested. But then again the area we lived in was listed by Zillow as the second worst in the country to sell at the time. Most of the buyers coming in were young and local buyers who could not really afford the house we had. It was 3300 square feet with an 800 square foot finished basement on 3/4 acre land.
It took 7 months to sell. Had two offers one was cash the other was a contingency with low ball offer that finally came up to what we accepted from our cash payer. If they had offered us that much to start with they probably would have won out and had been under contract even with their contingency before our second buyers came through. Too bad for them.