If you’re a real estate agent, you’ve undoubtedly experienced a stale listing.
The listing’s been on the market, and no matter what you’re doing, it does not seem to pick up any traction. You’re getting those frustrated calls and texts from your seller, and the days on market continue to stack up.
When a listing gets stale, it significantly strains the relationship with a client. Clients tend to be on their timelines and expect you to deliver with those in mind when they hire you.
While a stale listing is one of the last things you want, you aren’t alone. Listings are usually stale when they’ve been on the market for three months or more, and that can be longer for luxury homes.
You can avoid a situation where your client drops you as their agent, potentially leaving you negative feedback online. So what can you do?
Do a Market Analysis
One option available to you as a real estate agent is a comparative market analysis (CMA), which will give you insight into the recently sold homes near your listing.
You can use your analysis to determine if pricing could be part of the problem.
You probably did an initial CMA when you met with the seller for the first time, but when you have a stale listing, you might need an updated version.
If the conclusion you draw from this analysis is that the price is too high, you may have to discuss what’s next with your client.
Re-evaluate Your Marketing
If your marketing has stayed the same or you’re running the same ads on the same channels, but your listing is getting stale, it might be time to take a step back and re-evaluate.
Look at your online listings and printed materials. Are you giving enough attention to social media as well?
It’s a good idea to have someone else who’s a real estate professional look over your marketing because sometimes a fresh set of eyes can give you insight into where you might make changes.
Invest in New Photos
Real estate photography, as you likely know, is critically important.
Is it possible that you need new photography for your listing? Look at the photos and consider whether they could be lackluster.
A new photographer may capture details and a new perspective in the photos that will liven up the listing.
While you’re thinking about new photos, it might also be worthwhile to look at your listing description.
Your listing descriptions should be engaging but clear and concise. You want to help your buyers envision what their life would look like in this home, both through your photos and your written content.
The description isn’t just a list of features. You want to pain the picture for a would-be buyer with your words.
Read your listing out loud. What are your thoughts when you do that? Where could you make changes?
You might even think about outsourcing the writing for the listing if you feel you’re stuck and unable to convey the right tone or messaging to liven it up.
Should You Stage?
You might want to weigh the pros and cons of staging the property, especially if you’re also considering getting new photos taken.
Staged homes sell for more money, and they sell faster. If you stage the home, you can remove the personal elements that might make it hard for a potential buyers to see themselves living there.
Is There a Big Issue to Address?
Maybe your clients were hoping to sell the house without first addressing a major issue, like something that’s cosmetically unappealing or a repair that needs to be made.
You might need to go to your sellers and talk to them about the possibility of fixing issues.
Finally, ask for feedback before you decide to relist. Talk to other agents and see what their perspective is. If you had showings and never heard from buyers after that, maybe you can reach out to a few of them and see exactly the problem. If you ask for feedback, you can make an informed decision to try and get the house sold rather than just guessing what might need to be done.
With our team at A Better Home Inspection, we’ve been your neighborhood home inspection company since 1988. Our staff has helped many California homeowners maintain their houses – Please call us at 619-603-0268 and schedule today!