What To Do When Showing Requests Are Very Few
For beginner real estate investors, the initial excitement of acquiring a property can quickly turn into a frustrating waiting game when showing requests are few and far between. This is a common hurdle, but it’s also an opportunity to refine your strategy and ensure your property stands out. Let’s delve into what you can do to attract more prospective tenants or buyers.
1. Re-evaluate Your Price Point
The single most impactful factor in attracting interest is your price. An overpriced property will deter almost everyone, regardless of its features. As a beginner, it’s easy to overestimate a property’s market value.
- Conduct a Fresh Comparative Market Analysis (CMA): Look at recently sold or rented properties in your immediate area that are similar in size, condition, and amenities. Online platforms like Zillow, Trulia, and Redfin provide some data, but for a more robust analysis, consider purchasing a professional CMA from a local real estate agent.
- Analyze Days on Market (DOM): If similar properties are being snatched up quickly (e.g., within 30 days for rentals, 60 days for sales), and yours isn’t getting traction, your price is likely too high. According to data from the National Association of Realtors (NAR), median days on market can fluctuate, but a prolonged listing period often indicates overpricing.
- Consider a Small Price Reduction: Even a 2-5% reduction can significantly increase the perceived value and attract new eyes. Sometimes, being just slightly under the market average can generate a flood of interest.
2. Enhance Your Marketing Efforts
Are potential renters/buyers even seeing your listing? Good marketing is crucial, and it’s something many beginners overlook or underinvest in.
- Professional Photography is Non-Negotiable: Blurry, dark, or phone pictures will turn people away instantly. Invest in professional photos. Data consistently shows that listings with professional photos sell/rent faster and for more money. For example, a Redfin study found that homes with professional photos sold for $3,400 to $11,200 more than comparable homes.
- Compelling Listing Description: Don’t just list features; sell the lifestyle. Highlight unique selling points, local amenities, and the benefits of living in the area. Use evocative language. Proofread meticulously.
- Wider Distribution: Are you only on one or two platforms? Ensure your listing is on all major rental/sales platforms (Zillow, Apartments.com, Realtor.com, Trulia, HotPads, Facebook Marketplace, local MLS for sales). Consider local Facebook groups and community forums.
- Virtual Tours/Video Walkthroughs: In today’s digital age, virtual tours are increasingly expected. They allow people to “see” the property without an in-person visit, increasing initial interest. Even a simple, well-lit video walkthrough shot on a smartphone can be effective.
3. Improve Property Presentation
Even if your showing requests are low, the impression your property makes online and during actual showings is vital.
- Deep Clean and Declutter: A spotless and uncluttered property appears larger, brighter, and more inviting. This applies to both vacant and occupied properties.
- Minor Repairs and Upgrades: Address any obvious defects like leaky faucets, chipped paint, or broken light fixtures. Small investments in fresh paint, updated fixtures, or new hardware can significantly improve appeal. According to HomeLight’s “Top Agent Insights” report, refreshing paint brings a 107% ROI on average.
- Curb Appeal: The exterior is the first impression. Mow the lawn, trim bushes, clean pathways, and ensure the entrance is welcoming. A well-maintained exterior signals a well-maintained interior.
- Depersonalize (for Sales): If you’re selling, remove personal photos and excessive decor to allow prospective buyers to envision themselves in the space.
4. Leverage Your Network and Professionals
Don’t try to do everything alone, especially as a beginner.
- Engage a Real Estate Agent: For sales, a good agent has access to the MLS, a wide network, marketing expertise, and negotiation skills. For rentals, a leasing agent can help with marketing, screening, and showings. While there are fees, the time saved and potentially faster turnaround can be worth it.
- Seek Feedback: If you do get showings, ask for feedback. Was there anything they didn’t like? Was the price an issue? Their insights can be invaluable for making necessary adjustments.
- Tap into Your Sphere of Influence: Let friends, family, and colleagues know about your property. Word-of-mouth can be incredibly powerful.
5. Be Responsive and Flexible
When interest does come in, make it easy for people to view the property.
- Prompt Communication: Respond to inquiries as quickly as possible. Delays can lead to lost opportunities.
- Flexible Showing Times: Accommodate various schedules, including evenings and weekends. The more flexible you are, the more opportunities you create.
- Easy Access: Ensure the property is easily accessible for showings, whether it’s through a lockbox for agents or reliable scheduling for you.
FAQs
- Q: How long should I wait before reducing the price?
A: For rentals, if you’re not getting any inquiries within 7-14 days, a price adjustment is likely needed. For sales, if you have very few showings after 3-4 weeks, it’s time to reconsider your price. - Q: Is staging really necessary for a rental property?
A: Full professional staging is usually more for sales, but basic “virtual staging” through photos or simply ensuring the property is clean, decluttered, and well-lit makes a huge difference for rentals. Showing a vacant, dark property can be unappealing. - Q: Should I offer incentives to attract renters/buyers?
A: For rentals, offering a small incentive like a month of free rent or a gift card can sometimes jumpstart interest, especially in competitive markets. For sales, closing cost credits or a home warranty can be considered, but price is usually paramount. - Q: What’s a good alternative to an open house if showings are low?
A: For rentals, “open house” style viewings are less common. Instead, focus on individual showings. For sales, if open houses aren’t attracting people, it reinforces the need to address price or marketing, as open houses typically attract people already interested in viewing homes. - Q: My property is older. How can I still attract tenants/buyers?
A: Highlight its charm, character, and any recent updates. Emphasize features like larger rooms, mature landscaping, or established neighborhoods. Price competitively for its condition and age in comparison to similar properties. - Q: Can online advertising alone be enough?
A: While online platforms are crucial, combining them with local strategies (e.g., “For Rent/Sale” signs, networking with local agents/investors) can cast a wider net. Professional quality listings are key for online success. - Q: Should I only consider experienced real estate agents?
A: While experience is valuable, a highly motivated and communicative newer agent who is well-versed in the local market can also be very effective. Look for agents with a strong online presence and good reviews.
Bottom Line
Low showing requests are a clear signal that something needs to change. As a beginner real estate investor, view this not as a setback, but as a critical learning opportunity. By diligently re-evaluating your price, optimizing your marketing, enhancing property presentation, leveraging professional help, and ensuring flexibility, you can significantly increase interest and move closer to achieving your investment goals. Data constantly shows that well-priced, well-marketed properties don’t sit on the market for long.