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In a frigid market like the one we are currently slogging through, it is imperative that your real estate agent is leaving no stone unturned when it comes to selling your home. That might seem painstakingly obvious to some, but I continue to hear that sellers are growing frustrated because their stagnant listings are dying on the vine. Traditional wisdom suggests that when a house doesn't sell, it stems from four different issues: Price, Condition, Marketing, and Location.
Price - This one is pretty obvious, if your property is priced too high above its perceived market value, it will sit on the market and eventually be forgotten about. To avoid this pitfall, make sure your agent has a close eye on your market, you can ensure this by reviewing the comparable properties they used for their CMA (Comparative Market Analysis) and confirm that they are accurate (I.E. similar bedroom/bathroom count, square footage, condition, features etc).
Marketing - First and foremost, real estate is a visual product, so professional photos are an absolute must. Those photos will serve as the bedrock of which to build your marketing strategy upon. Typically an agent will create a social media post for your listing (I hate to say it, but most of the time it's a generic property photo accompanied by a listing description that was copy and pasted from the listing), and then that agent's brokerage will likely share that post. Some agents who go above and beyond would get video footage of the property as well, which they would incorporate into their marketing efforts. They would then create a handful of different marketing pieces to promote engagement and get as many eyes on your listing as possible across several different platforms (social media, real estate sites, craigslist, local publications etc). Open houses have proven to be a successful tactic over the years and help to get people inside your home, where there's a greater chance they have an emotional reaction prompting them to write an offer.
Condition - The tougher the market, the pickier the buyer. Some say until rates come down closer to 6%, we'll likely continue to sit in this tight market, and that means the condition of your home matters more now than ever. Getting yourself a pest inspection before listing your property is a great place to start. From there you can identify the issues that a prospective buyer would eventually uncover, and get them taken care of. This gives the buyers less ammo for their request for repairs, and gives you the ability to market your properties with a clean bill of health.
Location - Honestly, in this circumstance, location is last and least. I say that only because as an agent, there is nothing we can do about the location of the home. If it's a desirable area and the listing still sits on the market, then one (or more) of the first three issues is the culprit. If its not located in a desirable area, you'll likely have to make up for it with a lower price, better marketing or excellent condition.
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