6 Methods to Help Your Listings Sell Faster
The real estate market in the US is currently tepid. Data shows that in the month of July alone, home sales dropped 3.3%, especially in all four major U.S. regions. This is the lowest since January.
But as a real estate professional, you still need to sell the property to retain your business. In fact, the pace at which your listings sell can make all the difference — not just for your clients but for your own success as an agent.
Although there’s no magic wand that you can whip to help sell properties faster, there are a few things you can do to ensure you retain momentum and keep cashing in with your listings.
Here are six expert tips for selling your listings faster.
1. Ensure the Proper is Sale Ready
First impressions count, and you want potential buyers to walk through that front door and immediately envision their new lives unfolding within those walls. Here’s how you can make that happen:
- Exterior and interior maintenance. No one wants to buy a fixer-upper unless they signed up for it. So, fix those leaky faucets, squeaky doors, and any other minor annoyances. Plus, invest in some landscaping TLC to create an inviting exterior that sets the tone for what’s inside. A well-maintained property shows that it’s been loved and cared for.
- Importance of virtual tours in the digital age. We’re living in a tech-savvy world, and buyers want to explore properties from the comfort of their screens. Using virtual staging software to offer virtual tours offers a 24/7 open house experience, allowing buyers to virtually walk through every room and get a feel for the space.
- Staging and Decluttering. Less is more when it comes to staging. Think clean, airy spaces that allow buyers to imagine their own furniture and decor. Clear out the clutter and create a neutral canvas that’s ready to be painted with new memories.
- The Impact of high-quality visuals. A picture is worth a thousand words, and in real estate, it’s also worth potential buyers’ attention. Invest in professional photography to capture the property’s best angles, flattering lighting, and inviting atmosphere.
2. Use a Strategic Pricing Formula
There is a property pricing sweet spot that can make or break a sale.
To find that spot, start by checking out similar sales in your area (comps) to understand the market. What have similar properties recently sold for? What’s currently up for grabs? This intel gives you a solid foundation to build your pricing strategy.
A price that’s too high might scare away potential buyers faster than a bee at a picnic. On the flip side, going too low might raise eyebrows and make buyers suspicious of hidden flaws. Your goal? To hit that “just right” price that grabs attention without raising eyebrows.
Also, remember to use psychology to price your listings. For instance, have you ever wondered why some prices end at 99 cents? It’s not just a coincidence – it’s psychology at play. $199,999 somehow sounds way less than $200,000, right? The power of perception is real, and smart pricing can trigger positive emotions in buyers. It’s not just about numbers; it’s about how those numbers make people feel.
3. Find Your Marketing Sweet Spot
In order to sell faster, you need to reach potential buyers faster, right? So ensure to have a solid marketing plan that gets your listing to the right customers.
There are many ways to attract potential buyers, create a buzz, and ultimately seal the deal. Here are some of the most successful marketing channels:
- Real estate websites and apps. These are your online showrooms. Think of platforms like Zillow, Realtor.com, and Trulia as your virtual storefronts. Here, you can showcase stunning images, tantalizing property descriptions, and key details that make your listing pop.
- Social media. Platforms like Facebook, Instagram, and Twitter are your allies in reaching a broader audience. Share captivating posts, high-quality images, and engaging videos that tell your property’s story in a way that’s impossible to ignore.
- Email Campaigns and Newsletters. Don’t underestimate the power of a well-crafted email. Send out newsletters to your contact list, showcasing your latest listings, offering insights into the local market, and keeping potential buyers in the loop. It’s a direct line of communication that can yield impressive results.
You should also leverage open houses and property showings. Hosting memorable open houses involves creating an inviting ambiance with fresh flowers, soft music, and a clutter-free space – an experience that lingers in buyers’ minds. Meanwhile, scheduling showings efficiently, even during evenings or weekends, increases the likelihood of forming a connection with potential buyers.
Also, don’t forget that networking with agents and brokers expands your horizons and opens unforeseen opportunities. Professional networking leads to collaborative ventures, potentially connecting you with clients ideally suited for your listing.
4. Use Clear and Effective Communication
Clear communication is the backbone of any successful real estate transaction. It’s about more than just relaying information; it’s ensuring that potential buyers truly understand the details of the property.
When describing a home, it’s essential to be direct and avoid jargon. Use straightforward language that paints an accurate picture of the property’s features, catering to both novices and seasoned real estate enthusiasts.
Responding promptly to inquiries is another critical aspect. When a potential buyer reaches out with questions, it’s a sign of interest. A swift response not only showcases professionalism but can also mean the difference between securing a sale or losing a prospect.
Furthermore, it’s beneficial to provide comprehensive property details right from the get-go. Transparency about price, size, features, and other essential elements can reduce unnecessary back-and-forth and foster trust.
In essence, by being straightforward, timely, and receptive in communication, sellers can significantly enhance the appeal of their listings and build better relationships with potential buyers.
5. Use Feedback to Your Advantage
Feedback is your secret cheat sheet. Every time a potential buyer visits a listing, they leave behind insights that can help you refine and improve your selling strategy.
Start by actively seeking feedback after every viewing. This doesn’t mean bombarding the potential buyer with questions, but rather kindly asking for their honest impressions. Was there something about the house they didn’t like? Perhaps a certain feature stood out to them? Their perspectives offer a fresh lens through which you can view the property.
But gathering feedback is only half the battle. Acting on it is crucial. If multiple visitors mention that the kitchen feels outdated or that the backyard lacks appeal, it’s a sign to address these concerns. Some feedback may require small changes, like rearranging furniture or repainting a room, while other feedback could lead to larger renovations.
Of course, not all feedback will be actionable. Sometimes, it’s specific to a person’s taste, and that’s okay. The key is to identify patterns. If multiple potential buyers point out the same issue, it’s worth taking seriously.
6. Offer Financing Options
For many buyers, especially first-timers, the financial aspect of purchasing a home can be daunting. This is especially true in the current economy. Potential clients are not just looking at the price of the home, but also grappling with interest rates, down payments, and credit scores.
Linking them with reliable and pre-approved financing options like Embrace Home Loans’ Approved2Move loan can help simplify the process for them and increase your chances of closing the deal faster.
If a buyer is interested in a property and sees that there’s already a financing path laid out for them, they’re more likely to take action faster. This can mean fewer days on the market for your listing and a quicker sale overall.
Selling properties swiftly is both a skill and a science. For the most part, the average time it takes to sell a property depends on how well you are able to expose the listing to potential buyers.
Leveraging available tools and resources can not only simplify the sales process but also ensure that both buyers and sellers have a rewarding experience. Remember, the secret weapon that can help you win massive deals is to partner with an Embrace Loan Officer so you can give your customer a leg up when it comes to their home financing options.