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Today’s podcast is PART 2 of YIKES! My Real Estate Listings Are Selling, PLEASE HELP!
8. The listing could be in the wrong pricing segment. If you’re at $509k, you’re possibly the least attractive listing for a search from $500k to $750k. That should be $499k to make it the BEST option for someone searching from $350 to $500k.
9. The listing looks clearly overpriced when compared to its competition. If there are 10 listings that meet a buyer’s criteria, and your three-bedroom listing is priced as if it’s a four-bedroom, you’ll always look overpriced and go to the bottom of the showing list.
10. The listing has a confusing floor plan. For example, a modern home in a colonial area, split levels, or anything unusual needs to have extra staging so buyers and buyer’s agents understand how the floorplan works. If you can’t tell what a room is supposed to be, the home just won’t resonate with a potential buyer.
11. The listing has negative feedback that never gets remedied and the price doesn’t improve to reflect that. Repetitive negative feedback. This is what causes listings to expire.
12. The listing has too many personal items like family pictures, degrees on the wall, specific artwork, etc. These things can distract the buyer from focusing on the property and how THEY would live there.
13. The listing has obvious detriments like bugs, dog hair, cat box smells, a green swimming pool, or other off-putting things that are making the buyer run away. Either price it to reflect the condition or fix the condition!
14. The listing has a lower-than-expected buyer-side commission. If a buyer’s agent is setting up showings and they have other choices, your listing will be deprioritized if the commission is too low.
15. The listing agent simply isn’t proactive or effective at communicating with the seller. When there’s competition in the market, you MUST have a proactive strategy for being the listing that wins.
Work to eliminate these 15 potential issues. If that’s impossible, you must PRICE the home to be more competitive. It’s no longer good enough to just be available. The home you’re listing must SHINE and be the clear choice for any buyer who sees it.
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