When an ad stays on the market for a while, it can be frustrating for sellers. However, this can be even more frustrating for you, the agent, because you are the expert. Once a listing starts to go stale, it becomes a race against the clock, since the more time it sits, the less interest it generates and the value could depreciate.
During summer months, this may be the ideal time to review your outdated ads in an attempt to breathe new life into them since the market slows down in many areas at this time. Whether you think it’s your lack of a marketing strategy, or your customer’s pricing decisions, here are four ways to help you revitalize your old listings.
- Consider hosting an open house
This allows thousands of people to see one of your properties without having to be there, allowing you to reach a much wider audience. To do so, organize a general open house to reintroduce the property to local buyers, and also broadcast the meeting live on social media.
- Respond to overpricing
Overpricing is often one of the main reasons a listing is stuck on the market. Setting the right price is an essential factor when selling a home. Before setting a price, it’s important to do your research. If you believe the listing has gone stale due to overpricing, it may be time to show your client why their home is still on the market.
- Revisit listing photos
Keep in mind that 86 percent of buyers believe viewing a property online is the most useful part of their home search. If their listing photos don’t positively reflect on the home, buyers could avoid the property. To combat that, you can show them a before-and-after photo from another property you’ve staged.
- Don’t forget the maintenance of your home
If the property has been on the market during the seasonal changes, some repair issues may have surfaced. Remind your clients to continuously check their appliances, basements and even ceilings. If something needs attention, it should be taken care of immediately, since potential buyers may want to see the house at any moment.