It’s been 90 days and your listing has received little or no attention. This can be very frustrating for your clients, but even more frustrating for you as the expert. In addition to this, you know that the longer the listing sits, interest will continue to diminish.
With the market slowing down in many areas during the summer months, this can be the perfect time for you to re-focus on your listings that have been sitting on the market for some time. Whether you think it may be your client’s pricing decisions or even your lack of marketing strategy, here are four things to help you refresh and revitalize stale listings.
- Talk About Pricing
Setting the right price is the most important factor of selling a home. Talking with an unrealistic seller in this situation probably hasn’t worked in the past, so it’s time to show them the reason their home is still on the market. If they’re insistent that their home is worth $500,000, but you know it won’t sell for more than $400,000, invite your seller to join you on a home tour. Take them to a listing that is actually worth $500,000 and show off the luxury and added amenities it offers. Once your client sees what $100,000 can buy, they will likely be more flexible in their listing price.
- Revamp the Listing Photos
Some clients can be against staging their home from the beginning, believing it’s unnecessary and a waste of money. Remind your clients that 86 percent of buyers believe viewing a property online is the most useful part of their home search. If their listing photos are outdated and cluttered (or worse, absent), homebuyers will avoid the property all together because they think there’s something wrong with it.
If your sellers are still resistant to staging, use the analogy that, in the digital age, home-buying is like online dating. With so many different options, it’s critical that they give the best online impression possible. Show them a before and after photo from another property you’ve staged. Tell them that a majority of buyers will drive by a home after they’ve looked at it online, and ask them which home they would rather see.
- Make Any Necessary Repairs
Another area that may be holding your clients back is maintenance. If the property has been on the market during the seasonal changes, some repair issues may have surfaced. Remind your clients to continuously check their ceilings, appliances, basements, and even landscape. If something needs attention, it should be taken care of immediately, since potential buyers may want to see the house at any moment. Unfortunately, some clients become disheartened and do not keep up with the house. If you’ve noticed this, the summer season can be a good opportunity to revisit these areas.
- Rethink Your Strategy
After reviewing each of the previous aspects, if you think your listing is properly priced, the listing photos are stunning, and there aren’t any repairs that need to be made, it’s time to consider that you may not be marketing your client’s home properly. Think about the different outlets you’re using. If you haven’t posted the listing on social media, you should. Post a few new photos of your listing, along with a limited description; however, avoid stating the specific location or how much it costs. Usually, when social followers see this information, they’ll automatically disqualify themselves, thinking the price is either too high or low, or the property isn’t in the right area for them. Instead, allow them to reach out to ask about the price and location.
While the property may be listed on a number of large portals, it may be time to think about advertising. Products such as Homes.com’s Featured Agent allow active buyers searching for a home online to interact with you. By prominently displaying your listings at the top of a search page, buyers will automatically be drawn to the listing without thinking about how long it’s been on the market. Pair this with the updated photos and a new description, and your listing will be in a great position to sell.
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