If you’ve got a listing that’s been sitting on the market, I’m sure that you (and your clients!) are eager to figure out how to get it to move.
There are many reasons why a listing isn’t selling, but there are three big things that you should look at when trying to figure out why. Focusing on these three areas can help you solve the problem and get the home sold.
Is the Home Staged to Sell?
Staging isn’t always about putting all of the seller’s possessions in a storage unit and paying a professional tons of money to stage the space. Sometimes staging is as simple as having the sellers make minor changes, so that the home looks put together and clean to potential buyers. This can help buyers see the full potential of the home.
Talk with your sellers about decluttering, and removing worn-down pieces of furniture. Even though some items have sentimental value, they may not be as appealing to buyers who are looking at the home. A storage unit may be a good idea for items that need to be removed from inside the home, but the seller doesn’t want to get rid of completely.
A fresh coat of paint in rooms can really liven up a space, as well. It can help if a home has been lived in for a long time, or there are small children in the home. New paint will eliminate scuffs, scratches, and other signs of normal wear and tear. Remind them to keep the color palette neutral to appeal to a broader group of people
Is the Home Priced Right?
It can be hard for sellers to look at their home from an objective standpoint and see the actual market value of their home. Chances are, they have sentimental attachment to the home, which can cause them to think the home should sell for a lot more than a buyer may be willing to pay.
When looking at a sales price, it’s always a good idea to prepare a CMA (Comparative Market Analysis). This is how you can make sure you’ve settled on a realistic sales price, but also that your sellers can get top dollar for their property. The CMA can help you sellers see how you determine a fair listing price, and gives them an idea of how comparable homes in their neighborhood are selling.
Are You Marketing Your Listing Well Enough?
Of course, you’ve entered your listing in the local MLS, but what else are you doing to help your listing move?
Above all else, you need to make sure that you take good photos of the home that will showcase its fullest potential. A majority of buyers start their search online. Poorly lit photos, blurry photos, or even a lack of photos aren’t going to spark interest in potential buyers to come look at the home.
A good old fashioned open house can be a great marketing tool to use to help spread the word about your listing. Take the time to knock on some of the neighbor’s doors to let them know about the open house, and invite them to come by. Make sure that you post information about the open house ahead of time online, and send an email out to other agents in your network.
Use your social media accounts to help gain more exposure. Make sure you upload photos and plenty of information when you list the home. You can also post updates, like when you make a change in price, or schedule an open house. It may even be worth it to boost posts or run a paid advertisement.