Recently we got a call from a client whose listing failed to move off the market. They asked us, “Why do some homes sell, while others don’t?”
Failed listings happen, but preventing them is as simple as keeping a few key things in mind. If you’re thinking of selling, consider these four things.
1. Is the Price Right?
If you don’t price a home right, it will sit longer than it needs to and net you less profit. Pricing correctly from the start is key. Many people falsely assume that because we’re in such a fierce seller’s market they can list their home at whatever price they want. This simply isn’t the case. Pricing is always important.
2. Who Took Those Pictures?
Many of the expired listings we see on the market have online photos that appear to have been taken from an agent’s cell phone. Poor quality pictures spell disaster for any listing. If your home looks unappealing online, it is less likely to receive a high level of interest from buyers.
3. Do You have a Marketing Budget?
This really comes down to how money is allocated in your listing. Your agent should market your listing in a way that positions it in front of as many potential buyers as possible. Show me an agent with a 1% commission and I will show you an expired listing.
4. Follow up with Buyer Agents
Many agents don't have the resources to do this, but it is always helpful to have an agent who will follow up with the agents that came to your property with their buyers. Appealing to buyers’ agents will make a big difference in your listing.
Selling your house shouldn’t take more than 30 days if you follow these steps. With that being the case, don’t lock yourself into any long-term commitments. If your agent is doing their job, you simply won’t need to.
Hire the right agent by researching their track record. Whether this is your first time listing or you’re putting your home back on the market, this advice works the same.
Selling a home that didn’t sell the first time does take a slightly different approach, but a quality agent will have no trouble guiding you through that process. Also, remember not to relist with the same agent if your home expires or fails to sell.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.