Were You Not Able to Sell Your House the First Time?
Has your home been listed for some time but refuses to sell? This can be extremely frustrating, making you feel like you’re stuck in a place you don’t want to be. The good news is that if you find yourself in this situation, there is a solution. By using a few key marketing strategies and repositioning your property, you can start over fresh and successfully move on to your next chapter in a new home.
The first thing to remember is that you’re not alone in this: thousands of properties spend time sitting on the MLS every year without finding a buyer. When a house refuses to sell, it’s usually because the property was either poorly positioned, priced improperly, or a combination of the two. Positioning—the way your home is presented to the public online—should create a sense of urgency among buyers when done right. Regardless of the specific reasons why your home hasn’t sold, the goal is to head back to the drawing board and start fresh.
Cancel Your Listing
The first thing you’ll need to do is cancel your listing and get your property off the market. Chances are your home has accumulated too much market time, prompting potential buyers to overlook it. Removing your listing will give it a chance to breathe and rest, and this should be done for at least a few weeks. You’ll essentially be erasing your market time and doing a reset on your home sell.
Market time is a huge factor in getting the best offers on your home, so if your property has sat unsold for over 90 days, relisting is probably your best bet. Before you reintroduce your house to the market, your marketing needs to be entirely revamped so it sells the second time around.
Give Your House The Ultimate Marketing Makeover
Poor marketing can have a huge impact on the successful sale of your home. Even an agent with good intentions but substandard marketing skills can shoot you in the foot before you even start. Small mistakes tend to have a huge impact on the success—or failure—of selling your home.
To prepare for the second listing, we’d want to freshly stage the house if necessary and take new photos. The quality, quantity, and features of the pictures included in your listing can really draw in the ideal buyer for your home if done properly. You want your photos to be professional, well-lit, and numerous to show off multiple angles and views inside and outside the home. Adding high-quality video will also give potential buyers an idea of the flow of the property, helping them to put themselves in the house and imagine living there.
New signage and a fresh social media marketing plan should also be part of your strategy. Facebook Ads, for example, are a great way to target your ideal audience and make sure your property gets in front of them when it’s freshly listed again. All of these tactics will give your property a new audience and create a buzz around your listing.
Create The Right Pricing Strategy
Now is the time to rethink your pricing and make sure you’re being realistic with what you’re asking for your home. The market is going to dictate the price of your home, and it’s your job to listen to it. Even if you have the best agent who’s a pro at negotiations, they still can’t force anyone to purchase your property.
The first two weeks that your house is listed on the MLS are the most important. You’ll get the most amount of traffic and attention, which also enables you to hear what the market is telling you. Having a pre-planned pricing strategy with your agent will prepare you to take quick action if you need to make a price change.
Your agent should be able to prepare a net sheet for you to give you a general idea of your closing costs. When you’ll know what your walk-away profit will be, you’ll be able to determine what offers you’re willing to accept. Knowing your bottom line is key in negotiations, helping you avoid rejecting offers that might actually be in your best interest.
Reintroduce Your Property To The World
Once your home’s marketing plan has been revamped and it’s been positioned properly, it’s time to relist your home on the market. By having the right marketing plan in place and a pricing strategy set up, you’ll be ready to accept an offer from the right buyer and get your home sold.
I’ve helped many people to sell a house they thought was unsellable, even some who had already been through two previous agents. If you have any questions or would like to make an appointment to talk with me, click here and I’d be happy to help you get your home sold!