Of Moldy Bread and Lethargic Listings
Sometimes summer can be a bummer, even for real estate sales. And yes, even in a brisk sellers’ market, you may end up with some listings that aren’t moving like you expected.
Have you ever noticed during the summer your bread gets moldy a little quicker? You go to make yourself a nice, fresh sandwich. You reach into the plastic bag for a couple of slices and you spot it – the beginnings of fuzzy, green mold. Yuck!
As great as summer is for many reasons – especially for real estate sales – sometimes summer can be a bummer. And yes, even in a brisk sellers’ market, you may end up with some listings that aren’t moving like you expected.
Plus, as we all know in real estate, what goes up must come down. Many analysts and insiders are predicting we’ll likely see this sellers’ market cool off a bit in the third and fourth quarters of 2017.
So what can you do to knock the mold off and keep your listings sizzling? Fortunately, there are several ways to refresh lethargic listings. Here are five things to “revisit”:
Revisit your price. No big surprise here. When a listing sits, price is the first thing to come to mind. And for good reason – it’s pretty darn important. When the price is right, things can happen in a hurry. To get your unrealistic seller on board, take time to show them the difference between their listing and others on the market that are priced higher. This can bring them back down to reality.
Revisit your visuals. Let’s face it, humans are visual. After all, we’re the ones who came up with the phrase, ‘a picture is worth a thousand words.’ Today you can replace pictures with video and you’ll likely make an even bigger splash among prospective buyers. But both pictures and videos of your listings are crucial. It’s always been true and today it’s even more essential. In fact, the National Association of Realtors (NAR) reports that nearly 90 percent of today’s buyers think viewing a property online is the most useful part of the home search.
Revisit your staging. Of course another visual is the property itself – curb appeal and all the other elements of staging. Remind your clients that selling a home is a daily job when it comes to keeping it attractive. If something needs attention, it should be fixed immediately for buyers can show up at any time!
Revisit your marketing. Are you using the right marketing tools and channels to get the maximum amount of traffic possible? I can’t over emphasize the importance of multi-channel marketing -- be sure you’re tapping both traditional and digital options and that you’re following up with all leads quickly. Also, redouble your social media marketing – it’s becoming a much more prevalent marketing tool, not only in real estate, but across many industries.
Revisit your approach. Take a pause and ask yourself some key questions: Who is the specific kind of buyer you want to attract for this listing? What key messages do you need to convey about this particular listing? How best can I get that message to the right buyer for the property?
Let me hear from you. What are your questions about keeping listings fresh and interesting? Are you doing all you can with your listings to make them enticing? Do you notice any trends among the listings you have difficulty selling?
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ABOUT THE AUTHOR
Bubba Mills is the CEO and owner of Corcoran Consulting and Coaching Inc. (www.corcorancoaching.com/programs, 800-957-8353), an international Real Estate, Mortgage and Small Business coaching company committed to helping clients balance success in business, while building value in life. Bubba Mills is a nationally recognized inspirational and education speaker, coach and mentor to the top real estate agents and mortgage companies. His articles do not necessarily represent the views or opinions of Corcoran Consulting LLC clients or other entities he represents. To find out more about Corcoran Consulting & Coaching, call 1-800-957-8353 or visit us at www.CorcoranCoaching.com.