Are You A Seller With A Stale Summer Listing? Or Maybe A Buyer Looking For A Great Deal?

Shoot Date: 
Wednesday, July 5, 2017

Introduction

If you or someone you know is trying to sell a home, summer time can be tough. Listings that haven’t yet sold can often languish as many buyers are taking it easy and taking a break from home shopping. So what can you do to jumpstart a stale listing? We’ve got you covered. Here with what you need to know is Shari O.

Why does a listing get stale in the first place?

STALE LISTINGS

  • Price
  • Access
  • First Impression-Condition
  • Sales Plan

The list is endless, but the top reasons include the property simply being priced too high, being difficult to sell, or not showing well. That can either mean creating a bad first impression that just turns off buyers. We know most buyers make their initial impression in the first 10 seconds and many chose to either not even go inside or, once inside, not bother looking further. Or maybe the first impression is OK but there’s something about the home's condition that bothers buyers once they begin looking further. Or maybe whatever the REALTOR(S) been doing to market the property just isn’t working. The telltale sign there is the number of calls and showings. The problem is, once a home sits on the market for longer than usual, even new buyers are less likely to look at it because they assume there’s something wrong with it, or their REALTOR(S) avoid showing them the home because they figure, oftentimes correctly, it’s a waste of time because there’s reason it's become stale. No ones excited about it anymore like they are with newer listings. And if the seller's been making the home difficult to show, it’s just not going to sell.

So what can you do if a listing gets stale, especially during the summer time?

WHAT TO DO

  • What’s Gone Wrong?
  • Treat As New Listing

Well. For starters, it helps to try to figure out what’s wrong. Get honest about how the home is priced by taking a look at recent comparable sales. Ask the REALTOR(S) who have shown the house why their buyers walked away, what was their impression of the price, first impression and overall home condition. And if showing the home’s been difficult that just has to change. Make it the easiest home in the neighborhood to see. Once you’ve identified anything you may have been doing wrong, you want to treat the listing as entirely new. Approach the price all over again. Approach the property anew -asks some friends what they think can be done to improve first impression and overall appearance or condition and flow. And the marketing plan. Maybe it’s time for some minor improvements to freshen up curb appeal or modernize the kitchen. Maybe de-cluttering or home staging. Maybe a more sophisticated or targeted marketing plan is called for. And, since most MLS won’t let you re-list a property so it appears as a new listing until it’s been off the market for a certain amount of time, definitely use new engaging photos and kick the copy-descriptions up a few notches.

What about from the home buyer perspective. Should they bother to look at stale listings?

BUYER PERSPECTIVE

  • Opportunity

Not only should they look at them, but even if you’ve already looked at a listing, especially if price was the issue, if it’s still on the market months later, the seller may have become more realistic. So it’s definitely worth going back and testing the waters again. (SBO example-narrative)

Add new comment

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
By submitting this form, you accept the Mollom privacy policy.