Revive Your Stagnant Real Estate Listings: Proven Strategies for Persuading Tough Sellers
Have you ever been in this scenario (maybe you're in it right now)?
- You list a home...
- You promote it...
- You host multiple open houses...
- Days, weeks or months pass...
- Yet little to no traffic or interest materializes.
Your seller starts to get frustrated and antsy because they think their home should have sold by now.
They may even be contingent on selling their home, which can further amplify their unease...
You suggest that the price of the home be reduced...
But your seller refuses.
This is a tough spot to be in because you want to maintain rapport with your seller and close the property for top dollar...
But you also know that something has to be done to drum up activity (such as dropping the price of the home).
So, what can you do?
Here's are two ideas...
- Host a Broker's Open.
This will drive traffic to the listing, which is refreshingly positive news to relay to a stir-crazy seller if previous open houses have been deserted.
During the Broker's Open, ask attendees to write down their feedback about the listing.
If they write down that the price is too high...
Then present that written third-party, professional feedback during a conversation with your seller.
This will allow you to work with your seller to brainstorm a solution rather than you personally demanding that they drop the price of their home.
This should make it far more likely for you to be able to maintain or even build rapport with your seller AND drop the price of their home.
Hosting the Broker's Open also shows your seller that you are constantly taking action to help them sell their home.
- Virtually Stage
If the home is empty or poorly furnished (ie has lots of dated/cheap furnishings, is cluttered, personalized, etc.), virtually stage its photos.
We talk about this often but it's worth reiterating how virtual staging is a proven, quick, easy and affordable way to help buyers instantly see the potential and intended use of the home's spaces.
Virtually staged listings make a far better first impression on buyers and will get buyers much more excited about clicking over, booking a showing and ultimately making a purchase.
So, if you're in a bind with a hard-headed seller, do this:
- Host a Broker's Open.
- Use the feedback to have an honest conversation with your seller.
- Make the appropriate changes to the listing, such as making a price reduction.
- And if the home is empty or poorly furnished, virtually stage its photos.
This combination of steps will allow you to perform quick, effective and affordable CPR to your listing while maintaining rapport with your seller.
