Can't get a buyer to the table?

**Ellen Sanford** · 04-19-2011, 12:03 PM

I have a property that we are trying to flip and it went on the market at the end of January. Within the first 45 days I had around 30 showings. My Realtor said that my listing was the best listing he had. The feedback from the Realtors was great. There were a few who had negative things to say but for the most part the feedback was that the house was at market value and showed very well. I have had 4 Realtors say that there the buyers were considering an offer. Today, no one has made an offer and traffic has slowed down. We have dropped our price about 10k. My Realtor thinks that when the weather gets a little better we will sell. I have a hard money deadline coming up and I'm starting to get nervous. I can't get the buyer to the table. Any suggestions?

**Joe Williams** · 04-19-2011, 09:59 PM

As a flipper you have some negatives facing you right off the bat. Some less scrupulous flippers in my area have got allot of people shying away from them as a whole.

My rule of thumb in my area, Eugene Real Estate , is that properties typically sell within 3% or less of what the final list price is. So you should drop 5% every month or so until you start getting offers. The reason being is that, in my market, most people do not want to low ball unless they are an investor. So you need to be the best priced home in your category and get in front of the market.

Lastly, it sounds from the traffic you are getting that your Realtor is doing a good job. Sit down with him or her and have them show you everything they've done and are planning to do. If a buyer cannot help but run into your property wherever they look then it all comes down to price.

Joe

Originally Posted by Ellen Sanford

I have a property that we are trying to flip and it went on the market at the end of January. Within the first 45 days I had around 30 showings. My Realtor said that my listing was the best listing he had. The feedback from the Realtors was great. There were a few who had negative things to say but for the most part the feedback was that the house was at market value and showed very well. I have had 4 Realtors say that there the buyers were considering an offer. Today, no one has made an offer and traffic has slowed down. We have dropped our price about 10k. My Realtor thinks that when the weather gets a little better we will sell. I have a hard money deadline coming up and I'm starting to get nervous. I can't get the buyer to the table. Any suggestions?

**Greg** · 04-20-2011, 08:44 AM

30 showings and no offers can only mean one thing. You are not priced right. I don't care how much you have already dropped the price or what other agents feed back says.

If it was priced right it would be sold already.

**MikeAustin** · 04-21-2011, 07:50 PM

Originally Posted by Greg

30 showings and no offers can only mean one thing. You are not priced right. I don't care how much you have already dropped the price or what other agents feed back says.

If it was priced right it would be sold already.

I agree and so you must check your price and make adjustments.