February 2020

How to move a stalled listing

Every listing agent is eventually confronted with a stalled listing. We recommend trying a few of these often-overlooked approaches to get that stubborn listing sold. Remember, the owner of the property has a lot invested in its sale and they're counting on you.

  1. Photography matters.

    Honestly evaluate the quality of your photos. Lighting and composition are key. If you truly believe you can take best-selling photos, go for it. If not, bring in a pro for those listings that languish. Lastly, to appeal to frequent browsers, change up your featured photo daily.Footnote1

  2. Buyers read property listings.

    Start with a strong headline to draw in the reader. Tell a story, letting the prospect know what it's like to live in this exceptional house. Tap into the prospect's emotions. Be descriptive but concise.Footnote2 Don't just list features, take them on a tour through the house.

  3. Sprucing up MLS features.

    It's easy to take these reports for granted. In comparison to the standard, lifeless listing, expressive writing goes a long way to promote the home.Footnote3 An inviting account of the property can easily differentiate your offering and attract agent attention.

  4. Virtual tours work.

    A virtual tour allows the prospect to take a walk through the home from almost anywhere. This technology lets the viewer step in a room and look around, zoom in on charming details and get a realistic feel for the layout. You can create your own virtual tour or opt to hire a video producer at a reasonable price.Footnote4

  5. Floor plans increase interest.

    Few listings include a floor plan. By adding this feature, you're providing valuable information. A floor plan furnishes a layout of the number of rooms, their dimensions and their relationships to each other.Footnote1 It's a technique that advertisers frequently use to sell New York City's most expensive high-rise condos.

  6. The art of successful staging.

    If the look of the furnishings and decor are drab or wrong for your intended buyer, consider restaging. Freshen up the premises, remove clutter and add accessories. Lighting and plants can reenergize. A few simple steps can transform a tired property into a welcoming one.Footnote1

  7. A last resort, lowering the price.

    Only after exhausting other approaches should you consider reducing the sales price. If you choose to, do so deliberately. Rather than frequently dropping the price by small amounts, which could send a message of desperation, lower the price just once by a dramatic, noticeable amount.Footnote3 This should bring in more potential buyers and diminish the tendency to negotiate downward.

Putting a few of these techniques into practice should help you get your listing sold and your client the best possible price for their home.

A note from your lending specialist
I hope you found this article informative. Please remember that I'm here to assist both you and your clients with any home loan needs.

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