With over 30 years of marketing properties in the Fraser Valley, I have met many sellers who are disgusted their home didn't sell. They are disappointed, upset or just downright angry.
You may be one of those sellers and a great question to ask is:
“Why wasn't the Realtor hired able to get the other 18,000+ Realtors in the area excited enough to get them to show and sell my property instead of all the rest?”
If your home has just come off the market, you are probably being bombarded with 20-30 Realtors knocking on your door looking for their next listing. But before you give your current Listing Agent an extension or one of these door-to-door salesman Realtors, you may want to stop, take a step back and review the six important points to get your home sold the next time.
Selling your home is not “mission impossible” and you shouldn't give up because almost 50% of the homes that were listed do not sell the first time. You need to do some homework, review the information you have from your past showings, and check out the previous system your Listing Agent was using.
You will probably uncover weaknesses or problems in one or more of the following six areas.
1. Teamwork: Was the relationship with your Listing Agent like a trusted Consultant/Advisor/Coach or was it more like just a sales person? After discussing your ultimate scenario and selling goals, did the Listing Agent provide coaching and a game plan on how to make that happen and get it done? If the goals were not realistic, did the Listing Agent have enough integrity, up front, to let you know or did the Realtor take your listing at all costs and was a yes person?
Choosing an agent for their experience and marketing systems is key. Many Realtors take a listing, and even before they leave your home, know it’s not going to sell. They know they can get calls off the sign and other marketing pieces, and they will sell those buyers something else.
So is the agent working for you or themselves?
2. Pricing: Does the price of your home work against you or for you? If the price works for you, then it is the Listing Agent’s bait or ammunition to find a buyer. If it works against you (is overpriced), then it is like insect repellent.
The right price has so many factors to weigh out:
If it is for sale for more than 90-120 days it is probably a stale listing and buyers are wondering what’s wrong with it. There are ways to repair a stale listing.
For proper pricing you are also going to need to look at the facts and statistics of what is happening in the market and analyze that.
3. The Condition of Your Home: Would you consider the condition of your home awesome, great, okay, not so good, or a fixer upper? If it looks like someone else’s idea of a dream home, then you are going to get the very most money for it.
When the buyers enter your home, are they inspired or are they calculating how much is it going to cost them to get this property up to expected quality? Are they saying, “I love this house! It outshines all the competition!” or are they saying, “We will make do as long as we get it for a great price because it needs help – it's a fixer upper.”?
Remember the decision to buy is an emotional one – not logical.
As a Real Estate Consultant, I coach all my clients on things to do and what not to do to get their homes ready for sale – days, weeks and even months prior to putting their home on the market. Did your last Listing Agent do that for you?
4. Marketing Your Home to Sell: First off, hire a trusted Real Estate Consultant, who is going to best represent you. When interviewing Listing Agents, test and compare their knowledge. Ask them to demonstrate how they are going to market your property. Please note that I said market your property, not market themselves. So the bus bench ads, car and truck wraps all do not matter with marketing your home. Find an active Listing Agent whom you are comfortable with and who has a good track record. Over 90% of our business is from repeat client or clients who have introduced us to people that they care about, and want the best for them. As the industry average is under 50%, we must be doing something different than the average Listing Agent out there. Ask for client testimonials when interview your next Realtor.
5. Feedback: Detailed, dependable feedback on the marketing process. Other Buyer’s Agents’ comments, buyers’ comments – those are all critical and you shouldn't have to ask your agent for them. The feedback should be coming to you automatically. We have this as one step of our 94 step marketing campaign to get it sold.
6. Commission Structure: If you were a Realtor, would you have wanted to show your home base on the commission being offered compared to the other homes for sale right now? As Marketing Consultants, we want to give you a breakdown of all the different commission structures available and compare that to what your competition is doing.
Before relisting your home remember:
Say goodbye to old, outdated marketing methods. For more information, give us a call for a Free Seller’s Consultation and we will help you find out why your home didn't sell the first time. We will take a look at your home, provide input as to why it didn't sell, and do a Room-by-Room Review.