It’s time to face reality if your home has still not sold in today’s heated real estate market.
The housing market is on fire and every home is flying off the market in record time. The National Association of Realtors report home sales are up for the third consecutive year and still continuing to climb. Then there is your home, sitting for months on the market with little to no buyer activity. How can this be? If you don’t want to risk being on the market another 6 months, take a look at these top four reasons your home has not sold and consider making some or all of these important changes.
1. It is not visible to enough online viewers
We have a choice to either embrace technology or risk sitting on the market longer or, worse yet, leaving money on the table (not getting as much money as you could) when you sell. It is the job of your Realtor to market your property.
Marketing defined by some agents mean dropping a few photos in the MLS and hoping it sells. You may even get the bonus of having your agent place your home in one of those home magazines that, unfortunately, does little to generate a sale. We are in the Millennials’ era where things are fast paced.
Buyers shop on their mobile devices and tablets for homes, well before they think about calling a Realtor out of some magazine they find at the local Starbucks! And when they shop, they want to be wowed! Some agents think Social Media advertising for your home means posting a picture of your property on their Facebook business page. OK, that should sell your home, right? Unfortunately not! There is much more to Facebook promotion than a business page. What about strategic Google AdWords, exclusive website domains for your specific home and a digital media package that draws Buyers so they aren’t navigating away to view your competition.
2. Digital marketing efforts consist of iPhone photos and a glamorous slide-show “virtual” tour
Gone are the days we used clunky Motorola flip-phones to chat with our friends and co-workers! So, if you’re attempting to generate the highest possible price for your home, why use dated technology?
Having professional images will make a statement online. By the time you just finished reading this sentence, your potential Buyer may have moved on. Serious Sellers must up their game online or live with the consequences of minimal views, which, in turn, will result in fewer showings. We all know what fewer showings will lead to – less money or no offer.
If you are not embracing aerial imagery, full motion walk through videos and high resolution dynamic photos, you are missing out on substantially more traffic. More traffic =’s more $$$$’s in your pocket, it’s just that simple. If you showed up for an auction and there were 2 bidders you might get a pretty good buy, right? Now drop 10 bidders into the same venue and your price to purchase probably just went up. This is no different in real estate and exactly what you want as a Seller.
A Digital Marketing platform that places more eyes on your property, ultimately results in more opportunities to sell faster and for a higher sales price. As of the last quarter of 2015, less than 1 percent of Realtors embraced all three of these technologies (aerial video, full motion walk through videos, dynamic photos) in their marketing efforts. This means there are a lot of Sellers leaving money on the table.
3. It’s Overpriced
Please be careful when selecting an agent and watch for the one who tells you they can get you more for your home than what other agents you have interviewed have told you. If they do tell you this, make sure they give you the right to terminate your listing agreement at any time!
The fact of the matter is, VERY FEW agents who list your home also bring you the Buyer. It is our job to MARKET YOUR PROPERTY to the masses and get as many prospective Buyers to view it as possible. This includes other agents and today’s well informed and educated online Buyers.
The market dictates the price of your home, not the Realtor. However, it is our job to give you the strongest marketing platform available so you have the best opportunity to generate the highest possible price the market will allow. Unfortunately, many agents do not provide this because of the expenses associated with this technology.
4. It’s Difficult for Buyers to View
Time is a valuable commodity for today’s millennial buyer, so keep that in mind when you consider setting up your home showings.
If you have restricted hours, or require 24-hour notice, it can make things difficult on both the Buyer and their agent. This is especially true if you have a lot of people relocating to the area, like here in Lake Norman.
If a client comes into town for the day and wants to see several homes, it could be difficult for the agent to guarantee a real tight time frame for their showing. If you have too many restrictions on your showing time, it may be your home they decide to skip.
Buyers have busy lives too, so try and be flexible. Remember, you want them to feel comfortable, not rushed. If they hang out in your home for an hour, that is a good sign!
Ok, so here’s what to do!
- Ensure that you have enough traction online, not just on your Social Media business pages, but with Google as well.
- Ensure you are using a Digital Marketing platform that includes aerial imagery, full motion walk through videos and high resolution dynamic photos.
- Ensure you have a Realtor that will utilize technology to get your home viewed by as many possibl agents and clients as possible.
- Ensure you do not have too many restrictions on your home so that you are able to remain flexible to incorporate every potential buyer’s busy life.
Erin and I believe that the information above is essential to every Seller as they prepare to place their home on the market, or if they’ve already been on the market for some time. In addition to using the latest technology, we give a guarantee that if you are not completely satisfied with our service, you can fire us at any time! Not the marketing gimmick, “I will sell your home in 90 days or I will buy it”, that many use. Read the fine print on those and you will understand.
Considering our marketing package consists of what 99% of agents do not, we feel confident that this is a pretty fair guarantee to offer.
Contact us today to find out how we can earn you more money from your home sale!