My home isn’t selling, now what?
You hired an agent, listed your house, priced it “right” and excited to get is sold and move forward in life, you make plans to move and know you’ll see an offer in no time.
Your agent comes over and snaps some photos and lists your property on the MLS. Maybe they used language like, “Entertainers delight, ” or “This will go fast!” (Have you ever noticed that all the listings that say, “this will go FAST! never do???) or “Priced right!” (These don’t seem to sell either,) in the description. A lock box is installed and you wait for instructions from your agent.
Nothing happens. After a week or so, you get a call that someone has requested a showing at 2pm so you grab the dog, go for a walk and are excited to finally be getting some action. After you get home, you don’t hear how the showing went and a few more days go by with no action.
Now a month or 2 have passed and you’ve had a handful of showings, no follow-up and no word of any offer, at any price. Your agent asks for a meeting and says, “It’s the price, we’re going to have to reduce the price.” Reluctantly you agree. The price is reduced to the level your agent suggested and told you it would create a “wave of showings and buyers.” Hmph….No such thing happens. Another couple of months go by and your agent wants to reduce the price again.
My advice to you, JUMP SHIP! No life jacket…just get out. Yes, any home will sell if you price it low enough…but if you’re going to give away your property, you can probably do that yourself.
So what do you do? First, it’s time to find a new agent that has the ability to actually market your property. This involves figuring out WHO the buyer will be and creating a marketing plan specialized for your property. A specialized marketing plan starts with how your home is presented, staging (and not bad staging which we see way too much of…fake plants and falsely set tables) lighting and photography. A mood has to be created so that when the buyer sees it presented online they FEEL something and rush to see the property in person. Think of all the money spent on marketing products, those Super Bowl commercials are worked on well in advance and millions are spent on the creation and ad time in order to get you to buy their product. Budweiser isn’t going to just put out a poorly taken photo of a beer can with the caption, “Tastes great, will sell quickly,” and put that out there. Nope, their expert marketers create an image that they’re going to make you feel…Drinking Bud will make you funny, smarter and better looking..and the opposite sex will love you when you have a can in your hand. This is all for an inexpensive can of beer…Your house is worth an entire state full of Budweiser.
When the first steps are taken correctly, typically when the listing is re-presented, it sells immediately and usually at a higher price. When there is a property that is very unique and may take more time to find the right buyer, then the agent must carry out the marketing plan to include print and other online campaigns.
The photos here are from an actual listing in Redondo Beach. The property was listed with 2 agents (Before photos are MLS photos courtesy of them.) The Sellers reduced the price several times and it still failed to sell. The found and hired me, we raised the list price, I re-marketed the property and had it back on the market in about 2 weeks from canceling the previous agent. We had an all cash offer in 2 days and the property was under contract in 4 days and closed escrow 20 days later. Your agent makes a huge difference in how quickly your property sells and for what price.