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All positive feedback, but no traffic or interest

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  • All positive feedback, but no traffic or interest

    We are selling our co-op - 2 bedroom / 2 bath < $1 million in Yorkville, UES. Brand new floors and great kitchen. The bathrooms are functional but could use some updates. We received good feedback from brokers and potential buyers about the price of the apartment compared to it's size. It's also priced based on comps in the building.

    The apartment has been on the market for five weeks and we're holding open houses regularly every week. The first couple of weeks we had people coming in, but now there are hardly one or two people showing up for the open house. It's quite frustrating to get ready for an open house and not have anyone come!

    We are using Hauseit flat fee service. Some other details (things we are obsessing over!): we don't have professional photos and have a 2% commission offer for buyer's broker.

    Any feedback on ways to increase foot traffic / interest or get offers? Should we take the apartment off the market and relist?

  • #2
    It's fairly normal for traffic to be strongest in the first few weeks, and then to die down. A lot of people who are looking for something like that will have seen it in the first wave, and afterwards it's really only new buyers that materialize in that price range.

    With that said, you should definitely invest in professional photos, it's one of the biggest bangs for your buck when selling a home: Benefits of Professional Photography

    You may have lost some buyers' agents initially because of your low co-broke. Buy side agents expect 2.5% or 3%. Anything less and unfortunately they are known to push back here in the city. Here's a good article on lowering home price vs increasing broker commission

    My recommendation for the best home price reduction strategy is to get new, professional photographs taken asap. Then upload them along with a price decrease to refresh your listing.

    In terms of re-listing your home to try to reset the day count, I'm not sure that's something that would be included with a flat fee listing service. You honestly may have to pay again to re-list with a different broker. But don't want to speak for Hauseit.

    Overpricing, high monthlies, no C of O, DOB violations, expiring tax abatements & special assessments are just some of the top reasons your home is not selling.

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    • #3
      I totally agree with showtime. Good photo is always the right thing to do.

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