4 ways agents can rejuvenate a stale listing
If you have a listing that’s been sitting on the market for more than three months, it may be time to rethink your strategy.
Even in a hot market, sometimes a listing just doesn't get the attention it may deserve. As an agent, if one of your listings has been on the market for an extended period of time, it may be important to reevaluate the situation and come up with a new strategy.
Here are some actions an agent can take to breathe new life into a listing that has been on the market for three months or more:
1. Reassess your pricing strategy
Sometimes a listing doesn't sell quickly simply because of the price. It may help to evaluate the market conditions and compare the listing price to similar properties in the area. If the price is too high, consider adjusting it to a more competitive range. This can help you attract buyers who may have overlooked the property previously. Price reductions, while they may feel discouraging, can help generate new interest and motivate buyers to take action.
2. Optimize the listing description
Another tactic may be to take a fresh look at the listing description, including the photographs, property features, and virtual tour (if available). Ensure that the description accurately reflects the property's highlights and unique selling points. Consider hiring a professional real estate photographer or videographer to capture high-resolution visuals that help make the property stand out.
Listing Media Services from ShowingTime+ packages offer quality real estate photography and rich media. You may also want to revise the property description to highlight any recent updates, renovations, or unique features that might catch buyers' attention.
3. Expand your marketing reach
If the listing hasn't gained sufficient exposure, it may be time to broaden your marketing efforts. Explore additional marketing channels such as social media, online classifieds, real estate websites and local publications.
Leverage the power of targeted online advertising to reach potential buyers who may not have seen the listing previously. Utilize video marketing to showcase the property's unique features and help attract more attention.
4. Tap into your network and collaborate
Reach out to fellow agents in your network and share the listing with them. Collaborate with other agents who may have buyers looking for similar properties. Consider hosting an agent open house or networking event to showcase the listing and generate interest among industry professionals.
By tapping into the power of collaboration, you can help increase the visibility of the property and potentially find a buyer through your network.
Having a listing that doesn't seem to be drawing interest can be frustrating for you and for homeowners, but by using a few basic tactics, you can adjust your strategy and refresh the listing. If you need updated, high-res photos and a virtual tour of the property for your listing, be sure to check out Listing Media Services from ShowingTime+.