Four Important Tips On Getting Your Listing Sold Quicker In A High-Inventory Marketplace

By · Wednesday, August 1st, 2007

Click here to download…the Audio File

1.  Take saleable listings from the start

·        Determine if the seller is truly motivated to sell. You must understand their motivation or realize you are taking the listing to build your sphere not to sell in the short term.     

·        Pricing will become substantially easier – upfront or receiving reductions overtime.

·        Know your market/listing stats down pat – homes that were sold, expired, withdrawn, all product types that are selling or sitting (# of rooms, baths, lot sizes, pools, views, etc.).  Include local stats – average sales prices, # of competitors on market, etc.          

2.  Prepare and stage a property properly 

·        If there are cosmetic changes needed, fix them! (this will not add price but will help the home sell more quickly).

·        Learn how or hire a professional to stage the home – strongly encourage necessary changes.  

3.  Use every tool in your arsenal

·        OSA—Have sellers hand out your business cards.  

·        Measure the effectiveness of your marketing.  Every call should be looked at as a $9,000 opportunity!  Answer your calls and e-mail – no voice mail.

·        Send Express Docs card/flyers to subject neighborhood, as well as, potential neighborhoods which would consider the subject neighborhood as a move up or move down consolidation.  

·        Order an appraisal (Seller must pay and will have to purchase another appraisal down the road.)  Price vs. Time – The higher a home is priced over market the longer it will take to sell, so take longer listings (12 months +) if they want to start high. They are asking you to invest time and money; you are asking them to insure you have their loyalty and commitment.    

4.  Do everything in your power to increase showings – 2 to 4 showings per week

·        Broker opens – provide all the feedback your fellow agents need and more!

·        Open houses – canvas entire neighborhood.

·        Evaluate pricing a minimum of twice per month.  Work to be in the 2 to 4 showing zone per week.

·        Utilize buyer bonuses – seller loan buy down/closing costs up to 6%, or bonus for selling agents (bonuses should be given on your most saleable homes).   

·        Work as a Prudential Team and always show Prudential’s listings first and whenever you can.  Core Value: Team work!

·        Never assume an outcome or seller decision!  You do not know what they will do because most times they do not know what they will do themselves!

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