1. Improve the showing condition of the home. A “staged” home will sell for 10-15% more than a home that isn’t staged. A home in good showing condition (but not staged) will sell for 10-1% more than a dump. If you’ve ever wondered why REOs sell for less, then there is your answer.
2. Improve the marketing. I take better pictures and write better descriptions. I also do a real “marketing analysis” and figure out any marketing opportunities there are that the other agent has missed.
3. Reduce the price. This doesn’t always happen right away. Many sellers still think their home is worth the Expired Price. After years of working Expireds I have learned a very important lesson.
I can fight over price… and lose the listing. Or, I can get the listing, show them I am doing a good job marketing the home, and then fight over price. I’ve found the latter to be much more profitable. Don’t ask me how much money I have lost fighting over the price. It has to be one of the most expensive lessons I have ever learned.
4. Sometimes a problem is holding the sale back. Here are a few examples: A listing that only allows showings by appointment only, scheduled 24 hours ahead of time. A home with title problems.
I brought in a creative title attorney who resolved the problems. I’ve done this multiple times on different properties. Bottom Line: I’m a problem solver. I solve the problem and the home sells. Unfortunately, not all agents are problem solvers.
Can you see that the price isn’t always the reason the home didn’t sell? So, why does my letter say that the reason homes don’t sell is because of bad marketing? Because that is what most sellers think. Most sellers think the agent messed up. Or, the agent didn’t “stay on top of things.” The seller’s perception is reality to them. In their mind, the story they tell themselves is 100% the unadulterated truth. They don’t want to come to reality about their price.