Tips On Selling That Lingering Listing
Stop wasting time looking for a magic bullet that will sell a hard-to-sell house. There isn’t one single method or marketing campaign that will do the trick. You must begin with an action-oriented mindset and analyze the facts of the property and the sellers’ situation.
Then follow these tips to get the house sold.
Evaluate the seller’s motivation again.
Why are the sellers selling, and when do they want to move? Is there a certain amount of money that they want to make on the sale, and is it flexible? Perhaps the sellers’ motivations have changed since first signing the contract to list with you.
Is lease-to-sell an option for the sellers?
Research the feasibility of the sellers becoming landlords. Look at competition in the immediate market and price points. Be sure to discuss the realities of becoming a landlord; those realities may be all the motivation the sellers need to adjust the price of the house.
Set up a “reality” tour of competing listings.
Take your sellers out to show them other homes for sale in the area so you can see what’s out there together.
Devise a new and improved marketing plan.
A new list price and property improvements warrant a new marketing plan. Consider hiring a stager. The listing will likely need new photos. Call all previous showing agents to update them on the new price and repairs and invite them to come back with their clients. Create a new MLS digital flyer that reflects the new price. Schedule a new open house and consider making it an event by partnering with a charity so additional eyes are encouraged to see the property. Create a new social media campaign with the updated photos and, ideally, videos.
Keep your sellers updated constantly.
You need your sellers to trust that you are doing your job. Keep them in the loop on every action you’re taking to sell their home.
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