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Let Other Realtors® Help You Sell Your Listing

Let Other Realtors Help Sell Your Listing

It’s always great to have help selling your new listing quickly to an interested buyer. Often, other real estate agents are your biggest allies. There’s a high likelihood that another Realtor® has a buyer client that’s interested in purchasing a home in the neighborhood you’re selling in.

In the past, word-of-mouth and relationship building were the only ways to access these buyers. You had to be fortunate enough to know the right person and have a good relationship with them. Fortunately, there are two other ways to find a real estate agent with an eager buyer.

Are you ready to let other Realtors® help you sell your listing?

Reverse Prospecting on the MLS

Usually Realtors® use the MLS to discover homes for sale that their buyer clients might be interested in buying. However, you can also use most MLS systems to reverse prospect – that is, search for Realtors® who have buyers that might be interested in your new listing.

Once you have a list of agents who have buyers interested in your area, reach out and let them know about the new listing. Make sure the buyer is still active – some saved searches stay in the MLS for a long time. Don’t forget though – you still have to sell the other agent.

If you have access to the features the Realtor® used in the saved search, be sure to highlight them in your conversation. Your job is to get the other agent so excited about the match that he or she then sells it to their buyer for you.

Reverse prospecting on the MLS has been around for several years, so if you don’t take advantage of it, you’re missing out!

Finding Other Agents on Instagram

Some real estate agents are hesitant to use Instagram to advertise their listings, because they don’t believe that buyers are looking there for homes.

In reality, buyers are definitely looking for homes on Instagram, especially from agents who aren’t afraid to share glimpses into their daily lives. But more importantly, other Realtors® are on Instagram. Even if you don’t connect with a buyer directly, connecting with a buyer’s agent will get you similar traction.

The keys to using Instagram are simple:

If you do these things, you’ll not only attract buyer’s agents, you’ll be in a great position to attract buyers directly as well!

Selling listings doesn’t have to be a one-agent show. Word-of-mouth and relationships are still important, but when you add reverse prospecting and Instagram to the mix, it’s easier than ever to connect with buyer’s agents to get help selling your listing.

Ready to get some great Just Listed and Just Sold postcards to market your listings? We have dozens of customizable templates for you to choose from. Let us know how we can help!

Six Ways to SCARE Away Home Buyers!

Scare off Buyers

As we approach Halloween, I thought I’d put together a list of how listings can scare away potential home buyers. While many Realtors® already know this information, this list can be very helpful to homeowners. Feel free to take these elements and remind your buyers not to scare away their prospects!!

Poor Pricing

As a Realtor®, you know that poor pricing is the first thing that will spook a buyer. If the listing is too expensive, they’ll obviously choose a better-priced option down the road. An overpriced listing means no sale until the price is brought back into reality.

However, underpricing is also scary – it sends the giant red flag that “something is wrong with this house!” Remind even very motivated sellers that not only does underpricing leave money on the table, it will scare away serious-minded buyers.

Clutter and Dirt

Everyone knows to wash a car before they sell it, but somehow forget that this translates into homes as well. If there is a lot of clutter or dirt in a listing, buyers will get freaked out – it basically sends a message that a home has been poorly maintained. No one wants those kinds of unexpected surprises!

A deep cleaning can seem overwhelming to some homeowners, so make sure you have a cleaning service on your vendor list. You may even be able to work out a deal with them where your listings get a percentage off of the full service.

Bad Photography or Video

Showcasing a home at its best is essential to getting top dollar.  If you have dim photos or murky video, you’re obviously not showing the best parts of a home – you’re just scaring people off!

Hiring a professional photographer can be expensive, and some homeowners are sure they can do it themselves. I recommend having a “scare file” of poor home photos, side by side with much better photos, and ask them which they would buy.

Poor Staging

Overly personal décor and poor staging are setting buyers up for a frightful experience. Many times sellers will say, “But I love this color!” I’m sure you do, but you’re selling – and your buyers don’t! Remind them that they can decorate their new home however they like.

In addition, old ratty furniture and oversized pieces can really dampen a buyer’s mood. Some home buyers don’t want to pay for staging and storage, but this is another opportunity to remind them that they will get top dollar if they spend a little up front.

Odors

I’m always amused by those Febreeze “nose-blind” commercials, because so many sellers are exactly like this! I’m glad they’re used to living with two dogs and three cats, but the smell is significant. Odors scare away buyers because they’re an indication of poor upkeep.\

Depending on the odor, it can be expensive to get rid of it, but it’s worth every dollar to a motivated seller. If a seller is completely unwilling to handle odor issues in the home, they may not be that motivated to sell. Certainly, the home will sit on the market a long time, if it sells at all.

Poor Landscaping

In another case of “If they let this go, what else is falling apart?” let me present landscaping. Homeowners are very focused on the inside of the home when it comes to selling, but outdoors is just as important. A ratty yard, dirty pool, or poor landscaping shows that the owners don’t care as much as they should.

No buyer wants to be surprised by something hiding behind the walls or under the roof of a home they just purchased, and poor landscaping is a major red flag that there could be something scary lurking inside.

It’s easy for buyers to get spooked – sometimes they all seem to be looking for a reason not to buy, instead of enjoying the home. When your sellers have addressed these six issues, though, your listing will be well on the way to selling quickly and at top dollar.

What issues have you seen scare a buyer away? Share in the comments!

The Danger of Overpricing Properties

Dangers of Overpricing

Everyone wants to get the best value from their property. As a Realtor®, it can be tempting to price a client’s home more highly than you believe the market warrants. The pressure from the client can be a strong factor, and of course your own income and reputation improves when you can gain higher prices for homes.

Unfortunately, overpricing properties can lead to a lot of issues for both you and your clients. Here are some of the biggest dangers of overpricing a property.

Lost Time and Value

As you likely know, the higher you price a property, the longer it will take to sell. Regrettably, in many markets today that lost time translates to lost value. Imagine setting a home price at $400,000 in a market where similar homes are going for $350,000. After six months, the house doesn’t sell and the owners are willing to reduce the price. Only now the homes in the market are going for $325,000. By overpricing and losing time, you’ve also lost value.

If you don’t understand the local market, or allow a homeowner to pressure you into pricing their house to high, you will lose time and money for both yourself and your customer.

Stress and Cost to the Homeowner

If a house is priced at the market peak, it must be shown in top-notch condition every time a potential buyer visits. Even for the cleanest clients, keeping a home that clean and organized over time is stressful. If a house is cluttered or dirty, there’s no chance of getting an over-market price for it. In addition, since a higher-than-market priced home takes longer to sell, the homeowners will have that strain for a long period of time.

The homeowner is also suffering significant costs while the home stays on the market. Each month the homeowner has to pay another mortgage payment, which is money they won’t get back. As the costs for your client mount, their patience with you is going to decrease. In the worst case, they may change to another Realtor®.

Decreased Interest in the Property

As time passes, a property becomes less interesting to buyers. People see a house that has sat on the market for weeks or months, and they wonder what’s wrong with it. In addition, if they are interested, they are likely to significantly low-ball their offer, knowing that the house hasn’t moved.

If you convince your client to lower the price on the home, even to an appropriate level, you may do damage to the attention buyers are willing to pay to the property. A house that has sat unsold for a number of weeks and then drops the prices looks like a problem property. The only way to avoid this perception is to appropriately price the house at the beginning.

Issues with Appraisal

Even if you are able to sell the home above the market, the appraisal could cause you issues and even scuttle the deal. In order for the buyer to get financing approved, they have to get an appraiser to assess the property. The bank uses that information to approve the appropriate mortgage for the home. If the home is priced above its actual value, you may have delays with the sale or even have the financing completely fall through.

Knowing how to deal with a low appraisal on a home is part of the job for every Realtor®. However, you can avoid the issue many times by simply pricing the house correctly for the market.

As you can see, it’s not in your interest or in the interest of your client for you to price a home above what the market will bear. As a professional Realtor®, you should gain the skills you need to not only properly assess a neighborhood market, but to deal with difficult clients who are looking for a high price.

If you choose to list higher than you should to win a listing, you’ll quickly earn a bad reputation with clients and other Realtors®, which will hurt your business. The only course of action for a professional, high-quality Realtor® is to understand the market and price all properties appropriately.