SELL IT - WHY YOUR HOME ISN'T SELLING
You say you have a million dollar home for sale? Just because you own a million dollar home doesn't mean it will sell quickly. But the good news is that right now in 2018, we are experiencing the lowest level of inventory since before the market crunch, so now is the time to sell. Currently there are still over a 700 million-dollar homes on the market in the Charleston area. If you do not have a million dollar home, you may be luckier as your property is much more likely to sell quickly.
How do you and your Realtor optimize the chance that prospective local and out of town buyers want to see your home? Take a close look at how your home is marketed, and evaluate if you have made the right choices for selling your home.
Is your home listed on the MLS?
85% of all homes are sold through the MLS
When you search for your home on the MLS, does it appear in the correct area of town and does it appear when searching for certain criteria such as water view, 2 car garage, master on the ground floor?
Sometimes in a rush to list your home, the details might be inadvertently overlooked. Take some time to search different parameters to see if your home appears on the MLS search. If not, talk to your agent, because the more details provided on a listing, the more chances your home will be selected from the list.
Is there a picture?
The worst scenario is that there is no or few pictures of your home on the MLS. This a missed marketing opportunity. Because of time restraints, busy agents and home buyers may not even consider looking at a listed home without exterior and interior photos. Make sure your home photos are ready to be posted when your house hits the MLS, not afterwards.
How does your home appear on the MLS?
Is the picture flattering to your home?
It is shocking to see some photos on the MLS that look horrible because of poor photography, fuzzy resolution, or wrong sizing. If your realtor doesn't know how to take a picture, make sure they hire someone who can. The homeowners should generally expect multiple photos of their home with a “full service listing.”
What's inside your photo on the MLS?
When agents search for homes to show their clients, they click on the picture at the top of the MLS Listing to reveal other photos of the home. What do those photos look like and do they show off your home in the best light?
How popular are virtual tours?
Many agents and potential buyers won't take time to look at the old fashioned virtual tours that drag along at a snail's pace to annoying music. With so many homes on the market it is important that the many features of your home be easily viewed. There are new photo slideshows that can click along at the viewers speed, so check to see if your agent uses one.
Have you read the write-up on your home? Does it describe your home honestly, yet in a good light? Is it in all caps or easy to read?
If your agent hasn't provided you with your MLS Listing page, get it today, read it, and decide for yourself if it is easy to read and encourages visitors. This is a great marketing piece. Be sure that it conveys how your home stands out from the competition. The first limited number of characters are syndicated onto other websites - write the best things about your home first.
Why should you care if other agents are exposed to your home?
The more people who see your home, the more possibilities of finding a buyer. Anything your agent can do to expose your home to other agents in their company or other companies should be encouraged and appreciated.
What about an OPEN HOUSE?
An Open House to other agents is far more beneficial than an Open House to the public, which is quickly becoming an antiquated marketing tool. In the past, potential homebuyers used Open Houses to view the interior of homes that piqued their interest. With the Internet, homebuyers can preview homes online rather than driving from home to home on a busy weekend.
( I am not referring to new construction sites - but please take representation with you if you are visiting those sites.)
What type of advertising is being used?
Print advertising is expensive. However, even in the age of the Internet, such advertising can be effective. Ask your agent what type of print advertising is being used and whether their advertising dollar is targeting the correct audience.
In today’s real estate market, it is now even more important than ever to insure that your home is being exposed to as many potential buyers as possible. The Internet is playing a major role in marketing real estate. Ask your Realtor what websites showcase your home, and can the pages with your home be found with popular “search terms” on the large search engines such as Google, Yahoo and MSN.
Doing all this and still can’t sell your home?
Staging your home inside and out can be helpful to lure those lookers into buyers. However, patience is required, and try to make sure you are on the same page as your Realtor by finding out how many months of inventory is out there. There are ways to encourage a faster sale and lowering the price usually will work, but the best results are found from pricing it right from the start. Make sure to study what else is for sale that is comparable to your home to make sure you are offering the best deal to the buyers. Location/Price/Condition - you have control over 2 of these.
One can avoid the above pitfalls by hiring the right agent from the start. Classic Charleston Properties is happy to help.
HELPFUL TIP>>>
To get your home sold quickly, it’s important that other agents in the area show it to as many potential buyers as possible. The first thing a good agent will do when working with buyers is talk to the buyer and learn what kind of home they are looking for in a home. Then the agent will search all the available homes for those most closely matching what the buyer wants. Next, the agent puts together a list of the best matches to go show to the buyer. When a busy agent is compiling a list of homes to show a buyer, the agent will naturally tend to show those houses that are easiest to gain access to first.
Many homes on the market have “lock boxes” on them. The lock box is a device which holds a key to the home that only qualified local agents can access. Homes that are listed as being “lock box, no appointment needed” will get shown more often than homes listed as “agent has key, call for appointment”. If at all possible, you should let your agent put a lock box on your home for easier showing, especially if it is vacant. If you can’t do a lock box or have a million dollar home that requires TLC, you need to be sure that you make it as convenient and easy as possible for other agents to show your home. If they call, do whatever you have to do to accommodate letting them show your home to buyers on their schedule. If you don’t, the agent will probably show the buyer other homes, and if that buyer makes an offer on one of them, you’ve just lost a great opportunity.
It’s best if you can leave when the agent and buyer arrive to see your home. Buyers won’t feel comfortable with you there, and it could sour an otherwise good impression. If the lookers feel comfortable in your home and actually want to sit down, you have a much better chance of selling.