There’s really nothing that “higher” agents get when they walk away from a home with a signed listing agreement. It doesn’t matter how often this happens, I highly doubt any agent gets upset.
Thank you for reading this post, don't forget to subscribe!The only problem is selling the home in a rapidly changing market. This is especially true for agents who were highly engaged during a hot sellers’ market. There often isn’t enough time to put a marketing plan to work before selling a home.
As you know, it’s different now and always changing. Depending on your local market, you may need to get out that marketing plan, dust it off, and consolidate it.
Let’s look at some of the basics you may need to clear up in order to ensure your listing sells this year.
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getting the price right
Pricing a home appropriately for the market can be the most challenging task for a listing agent at this time. It’s not impossible, but the job is certainly different from what you’ve become accustomed to.
First, you may be faced with a lack of available sales data. The Valuation Institute’s guide explains, “A declining market will exhibit very little selling activity.”
The authors offer two solutions to help determine a home’s current market value:
“1. Expand geographic region for comp search, then appropriate and/or adjust for location
2. Use the low of recent sales, then adjust as appropriate for market conditions.
A lot of your calculations will depend on how much competition there is in surrounding areas. Learn everything you can about those homes and their prices. If there’s a lot of competition, “Start by pricing below the competition,” suggests Neil Templin at Rate.com.
“If it doesn’t work and you need to adjust the price after a month or two, lower it enough to attract a new group of buyers. It’s brutal. But chasing a falling market You’re likely to get more money by going out in front of him than by doing it,” he concluded.
Naturally, you want to get the most value for your customer in an ever-changing market. Remind your client that momentum is important right now as the market is not likely to get better in the near future.
Listing Description and Photos
An agent’s online listing description is many buyers’ first introduction to homes for sale.
“This one won’t do!” There is no longer an appropriate or truthful listing description title. Because buyers are keeping a close eye on the real estate market now, they know the home may last longer than the seller expected.
Skip the hyperbole and use that valuable real estate to talk about the home’s amenities, the lifestyle it offers, and the neighborhood.
If you photograph your own listings, consider hiring a pro for any homes you think might be challenging to sell. According to a Redfin survey done a few years back, professionally photographed homes sell quicker and for more money.
Yes, it can be challenging to handle the market right now. But if you’re taking a listing, focus on the basics, such as properly pricing the home and making the most of your best marketing tools, MLS listing descriptions and photos.
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