Nearly 15% to 25% of all listings do not sell.
The market rejects them.
In other words, the market did not accept the Marketing Effort, the Price, the Condition, the Location, or a combination of these areas-perhaps all four of them!
The good thing is that you control two of these areas: Price and Condition. We control one: Marketing Efforts.
Marketing Effort
- Staging and Pricing Strategies
- For Sale Sings, Rider Signs, Directional Signs, Tube or Box with Flyers and Distribution of Flyers in Neighborhood
- Flyers in House/Comment Cards
- Multiple Listing Service, Web Listings with Virtual Tour
- Open House Program
- Track Showings/Collect Feedback
- Weekly Seller Updates
- Property Caravans
- And more!
Condition
A hundred dollar bill is a great metaphor: they all look good, but people will always choose the nice, clean crisp one over a dirty wrinkled one. How does your house look to others? This is the crucial important difference between showing condition and Living condition.
Price
Being overpriced is usually the reason a home did not sell, but condition will help determine what the market is willing to pay. Remember that YOU control the price and condition. The wrong price attracts the wrong buyers. It creates a bad reputation for the house in the market place and makes properly priced homes look even better. Would anyone intentionally put their home on the market to help sell the competition?
Location
Nobody can do a thing about their location except to accent the positives and minimize the negatives.
