3 Minute Read | Kendall Jarvis
1. Adjust The Price
One of the biggest reasons we see real estate sit on the market is unrealistically high asking prices (thanks Zillow). The math is simple: a high asking price means fewer people can afford your property and even fewer will take the time to schedule a viewing. Instead, lowering the listing to a more competitive asking price will generate more leads and get renewed activity on the MLS.
The downside to this is obvious, of course: a lower listing price inevitably means you will receive a smaller commission. This can be especially disheartening if the seller doesn’t allow a price adjustment until after the property has been on the market for a long time. More time, for less money.
However, Elizabeth Weintraub of The Balance argues lowering your asking price can start a bidding war that will eventually lead to the price you want. “Some agents will price the house a little under market value to entice multiple offers, which ultimately tends to push the price higher.”
Regardless of the impact on your commission, it’s inarguable that an appropriate price is essential to selling a property that’s gone cold.
2. Boost With Facebook
Anyone selling a home in 2019 will want Facebook ads to be a crucial part of their marketing campaign. Facebook ads allow you to connect with the platform’s 2.4 billion monthly users.
Many real estate pros who have dabbled with social media advertising are unsure if their efforts are actually reaching their target audience. “Engagement” or “CTR” is how marketers ensure ads are reaching the correct target. Our Facebook Advertising product,CaptuRE, has more than 10x the engagement of competitors in real estate. And you can easily share this amazing activity with your seller through CaptuRE’s daily reporting emails. For only $49 a week, CaptuRE allows you to check your ad’s performance and interact with interested buyers.
3. Host A Special Event
Few things are more enticing than free food and drinks. You can only talk so much about your property’s great backyard or the amazing flow of the floor plan in an advertising campaign. But as potential buyers enjoy a drink on the patio or mingle in the open-concept kitchen, you won’t have to tell them how great this property is, you’ll show them.
4. Freshen Up The Interior
Many properties struggle on the market because of antiquated furniture or finishes.
Consider making adjustments to the property. Install new appliances or give each room a fresh cost of paint. These changes seem minor, but they increase the enthusiasm visitors have for the home.
If the seller’s furniture or clutter is more of the issue, try virtual staging to show people what the property could look like under new ownership. There is no need to wait until completing renovations to find the right buyer. Read our in-depth article on virtual staging here.
5. Create Curb Appeal
Cutting-edge appliances in the kitchen and smart home technology can send the right message to potential buyers. But before they even walk through the front door, you need to make a great first impression. Plant flowers in the front lawn and keep the grass in perfect shape. Many homeowners have a green thumb and love seeing the possibilities of a new property with a well-kept lawn.
6. Update The Listing Photos
Before people bother to look at a floor plan or investigate the neighborhood, potential buyers need to see a captivating photos.
Professional real estate photographers have many tools in their arsenal, such as twilight photography. This captures the feeling of coming back to your new home after a long day at work. According to Inman News homes with twilight photos get 50% more views than listings without.
But not every property photographs well at twilight, depending on the natural lighting. That is why you should also consider virtual twilight(s). This creates a more striking view of your property (and often at a fraction of the cost).
Aerial photography is another marketing product that can get generate interest for your listing. An aerial photo of your property taken by drone can justify a higher listing price by showcasing an amazing location or invaluable view.
When you’re struggling to sell a property, it often feels hopeless. Luckily, you can generate renewed activity with several techniques and tools. Facebook ads boost lead generation, and CaptuRE ensures your Facebook marketing campaign is effective. Getting professional aerial and twilight photographs of the property also makes a great first impression on local real estate buyers. Don’t get discouraged, get creative and you’ll get that listing sold once and for all.