If you’ve been in the business for a long time, chances are you’ve had a listing on the market that wouldn’t sell, and in this current market, it’s no different. In an ever-changing market where mortgage rates are high, multiple offers are inevitable, and buyers struggle to find the perfect home, sometimes your listings sit on the market for what seems like forever.
Let’s dive into a few listing obstacles in the current real estate market and discuss what you and your sellers can do to overcome them.
Listing Price
Most likely, the #1 reason the listing isn’t selling is because the listing price is too high. The National Association of REALTORS® recently stated that median existing home prices have increased 1.9% since last year. While this might make it difficult not to want to increase your listing price higher than what it should be, make sure to keep comparable home sales in mind and market your property appropriately for potential buyers.
Top-Notch Photos and Videos
When it comes to photography and videography, leave it to the professionals. In the digital age we’re currently in, most cell phones can take amazing photos, but listings with professional photography tend to sell faster than listings without them. Low-quality pictures and videos don’t give off a good impression to buyers and might steer them away. You want to present your listing in its best light and show them all the amazing features and qualities it offers. In addition, staging goes a long way with photos and videos, so do your sellers a favor and provide it as an option for them if they want it.
Listing Descriptions
Along with photos and videos, listing descriptions are also something you should put some time into. While it mainly talks about details already mentioned in the listing, the description allows you to talk about things the buyer wouldn’t know about from the listing itself. Make sure to highlight updates and repairs, as well as details about countertops, the seller’s favorite parts of the home, and more. Create a story and help potential buyers envision life in your listing.
Ineffective Marketing
While the initial marketing push and excitement of the home first going on the market is enticing for buyers, it can fade the longer the home stays on the market. Make sure you’re consistently marketing the property to new agents, buyers, and more. This will not only keep your sellers happy and let them know you’re working to sell their property, but it will keep the listing in front of people and keep it top of mind.
If you currently have a listing on the market and need help refreshing your marketing or listing description, reach out to us! We would love to help you get your listing in front of the right people.
