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You’ve listed a property for sale. You’ve worked hard on print and digital marketing to promote it. It remains on the market longer than expected, and your listing starts to expire. Failed listings can result in unhappy clients, a decrease in trust and credibility, and can damage a reputation of the local neighborhood expert. So, why do listings fail to sell, and how can you fix it? Here are five areas to fine-tune your real estate listings and ensure a greater likelihood of success.
When determining the asking price, finding the sweet spot is critical in quickly selling properties. If the price is too low, your clients will miss out on potential profits, resulting in a lower-than-expected return on investment. If the price is too high, the listings could fail, and the property will stay on the market longer than anticipated and lead to several price reductions. After a while, prospective buyers might wonder if something is seriously wrong with the property. To avoid this, conduct a comparative market analysis and use your findings to set the price just below its actual value. As potential buyers recognize the great deal they can potentially get, their competing bids could quickly increase the offer price.
Properties in lower-demand locations can prove challenging to sell. Less desirability due to external factors — heavy traffic, airplanes overhead, or even school sports fields nearby — can have a significant impact on the maximum price you’re able to ask for. Since you typically cannot do anything about the home’s physical location, you instead have to focus on the factors that you do control. For instance, if noise is a potential roadblock that potential sellers will have to work around, it’s best to work towards solutions that will help mitigate the noise as much as possible. If your client’s property has less-than-desirable external factors that could potentially impact the sales price, recommend soundproofing the windows and doors to minimize external noises, planting trees to block unappealing views or adding fences for maximum privacy.
Homebuyers will typically shy away from a property in poor condition unless they’re actively looking for a fixer-upper. The peeling paint, neglected flowerbeds, and other problem areas can often prevent them from envisioning themselves comfortably living in the home. Instead, it’ll make them question the true value of the investment, and they may start to consider all of the other potential hidden costs and future problems that could arise with the property. If a seller wants a quick turnaround, it’s often best to put a little work into property before listing it. You can use your listing presentation to help your clients figure out just where they should be applying their efforts in order to sell the property for top dollar. First impressions are everything when selling a home, so any curb appeal improvements should definitely be prioritized on the fix-it list.
A poor staging approach does nothing to help homebuyers see themselves living in the property. An empty dwelling feels stark and cold, putting people off from buying it. Similar problems abound if the home has too many of the seller’s belongings in direct view. Inspiring buyers to put in their bid starts with professionally staging the home with neutral furniture and décor items. Remove personal effects, get rid of clutter, and aim to make each room feel balanced. Don’t forget to maximize natural light to brighten up the space and get people thinking about how they could potentially use each room.
A good marketing approach is an absolute must so your listings land in front of the right people at the right time. Otherwise, the listing may simply get lost amongst every other listing in the area, and will potentially fail to capture the attention of prospective homebuyers. Overcome that issue by taking a multi-faceted approach to marketing each home. Start with flattering, professionally-shot photos, compelling copy throughout your marketing pieces, and clear calls to action in every piece of marketing collateral. Additionally, make sure that you have an online presence as well to help reinforce the messaging being featured in your print marketing materials. High-quality property brochures, for example, can showcase the home in the best light and drive interested parties your way
Although you likely cannot win every listing you go after in your desired market, refining your approach can help maximize the number of listings that sell fast — and REAL Marketing is here to help. As the leading strategic marketing partner for real estate agents, we can assist with improving your listing appointments. We can help ensure your brand stands out from the competition and that your future listings would not fail to sell.
Contact us today at (858) 879-0819 to learn about our high-quality property brochures, postcards, and other effective print marketing materials.
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