There is little more frustrating than pouring your energy into a property that just won’t sell — especially in a seller’s market! But if you’re stuck with a stubborn listing, don’t give up hope. All you have to do is identify what is standing between the property and a sale, and then make adjustments.
Regardless of whether the problem is with the property, the price, or the promotion, you can be sure of one thing: The people who are viewing the home have decided that it isn’t worth your asking price. Here are three ways to resolve that issue and get the offers rolling in.
- Change the price. The simplest and most obvious solution is to lower the asking price. This might be a hard sell to the homeowners, but make sure to remind them that they don’t have to accept any offer they aren’t satisfied with. Lowering the asking price can create a bidding war and drive up offers. But while lowering the asking price might get things moving, it may not necessarily be the right move. Make sure to consider all your options before slashing the price!
- Change the property. If potential buyers don’t think the price is right, consider changing the property rather than the price. What about the home is detracting from its perceived value? Minor repairs, a paint job, and expert staging may be able to bring the property up to match the price tag.
- Change the promotion. It may be that the right buyers who are willing to pay your asking price are simply not seeing the home. Retool your property listing to make sure it’s well-written, compelling, and paired with professional photos that show the home to its full advantage, and then work extra hard to promote that improved listing to get it in front of as many eyes as possible.
Remember, no property is unsellable! Hit on the right combination of price, property, and promotion, and soon your clients will be signing on the bottom line.