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Today’s podcast is PART 1 of ‘YIKES! My Real Estate Listings Aren’t Selling, PLEASE HELP!’
Realtors and Brokers: We’re starting to see more listings and fewer buyers. With more choices, buyers’ agents look for reasons to not show a property, and buyers look for reasons not to buy it, or to simply keep looking.
Additionally, there’s a lot more new construction being built near some of your resale listings and the builders have the advantage when they can buy down the mortgage interest rates and sell more house for the same payment as your resale listings.
This explains why SOME listings are NOT selling immediately, some are not getting multiple offers and some are selling for less than the list price!
What causes a listing to NOT sell, or not to sell quickly? Why does it expire? Why does it get deprioritized by buyers or buyers’ agents? Don’t make these mistakes!
PART ONE
1. The listing is poorly presented. Not being staged correctly. This includes clutter, questionable smells, not being clean, and not being bright. The goal is for the listing to show like a new construction model home. Consider adding shoe covers in a basket in the foyer. ‘Please remove your shoes or cover them to protect the floors which may someday be yours!’
2. The listing has a non-compelling description. This includes plain vanilla words like ‘open and airy floor plan. Don’t make it sound like every other listing. Make the description convince me to show this property FIRST.
3. The listing has terrible pictures. This includes tiny iPhone pictures, pictures with kids sleeping in their beds, kitchen pictures with dirty dishes, etc. The agent’s reflection taking the picture in the bathroom mirror, any number of unprofessional pictures.
4. The listing has too many showing restrictions. If you can only show it on a Friday afternoon if the baby isn’t sleeping and it’s sunny outside, you won’t get many showings! If you can’t show it, you can’t sell it.
5. The listing has poor curb appeal. 50% of the buying decision is made from the street. Does your listing look like a house that someone would be proud to come home to? Do some simple things to improve the curb appeal, like a wreath on the door, a nice front doormat, plants on the porch, landscaping, weed removal, un-dead the grass, etc.
6. The listing gives a bad impression when you open the front door. The other 50% of the buying decision is made in the foyer. A clutter-free, bright foyer should make the buyer want to see the rest of the house, NOT make them want to turn around and go see the next home.
7. Something could be wrong with your actual MLS listing. Maybe your pictures aren’t loading, the description doesn’t make sense or it’s not categorized correctly. If you don’t put in the square footage and someone is searching for it, your listing won’t pop up.
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