It may be the worst thing that can happen to a home seller: a listing going stagnant. It happens more often than it should. Sometimes listings stay on the market without many showings and with little buyer interest for months on end. And when that happens buyers become suspicious. They wonder why other buyers haven’t made an offer and begin to assume something is wrong with the property. If you want showings and then a sale, you absolutely don’t want your listing to stagnate. So here are some effective ways to stop a listing from going stagnant in Frankfort.
Price It Right
The best thing you can do to stop a listing from going stagnant in Frankfort, is to take care of the basics. The first and most important thing to do is to price the property correctly from the get go. We want to price your property at the top of the range but not beyond the range of market evidence. Buyers looking for homes in Frankfort and Central KY get to know their particular price point market very well. They may have seen 10 other homes for sale and know whether your home is priced within reason.
“Stale real estate listings,” the experts say, “are often the result of an asking price that’s too high for the area. Buyers are interested in homes that are competitively priced, and they don’t want to overspend for a property. Sellers, on the other hand, want to sell for as much as they can and there’s a tendency to think their homes are worth more than their actual value.” Most buyers are pretty savvy and “won’t waste time on a property that’s clearly overpriced.”
But underpricing should be avoided too. You will leave money on the table! If you have a situation where you need to sell abnormally quickly due to some sort of distress then talk to us! We have investors at the ready to buy quickly..
A fair and competitive price is your best marketing and selling tool and perhaps the most effective way to stop a listing from going stagnant in Frankfort. Our experienced agents will help you price to sell with a thorough competitive market analysis. (Discover more about this by calling (502) 352-2650.}
Another way to keep a listing from going stagnant in Frankfort is by offering incentives. If you sweeten the deal in some way, buyers are more likely to make an offer.
“Sometimes,” according to real estate pros, “a fair asking price isn’t enough to compete with similar properties in the neighborhood, especially when these properties are priced slightly lower, and when [you] can’t afford to reduce the price. . . . If [you] can afford to sweeten the deal, this might persuade a buyer to make an offer and pay a little more for the property.”
You could, for example, offer a one-year home warranty or offer to pay a portion of the closing costs. If you give something, you’ll get something – it’s the principle of reciprocity in action.
Focus on the Listing
Then, again, the actual listing ad or marketing could be the problem and improvements that could help stop your listing from going stagnant in Frankfort. Here’s just some of what you can do:
USE PROFESSIONAL QUALITY LISTING PHOTOS
We understand how important photos are to the marketing of your property. We have access to professional photographers and have experience properly documenting your property’s best qualities.
INCLUDE NEIGHBORHOOD AND LIFESTYLE PHOTOS
You want potential buyers to be able to imagine what it would be like living in your home and in your neighborhood – to get an actual feel for the community. So including neighborhood and lifestyle photos is a great way to generate interest and stop a listing from going stagnant.
IMPROVE THE PROPERTY DESCRIPTION
The property description in your listing has to be absolutely top-notch. Writing these descriptions is a skill best honed with experience. So if you’re not a professional copywriter, you should probably have your experienced agent work on the listing copy and property description.
Hire a Great Local Agent
Finally, hiring a great local real estate agent like those at Bluegrass Realty and Investments can definitely help prevent your listing from becoming stagnant in Frankfort. We understand our local market (all its quirks and special conditions), we know your target market and we are well versed in marketing tactics (both traditional and online). And, as we mentioned, our experienced agents will be able to craft a listing that commands attention and will get you the maximum number of showings. Our agents are qualified and ready to help.