All the Marketing in the World Can't Sell an Overpriced Listing

If your house is languishing on the market, you must examine your pricing. A well-priced home will go under contract in a reasonable amount of time. 

All the Marketing in the World Can't Sell an Overpriced Listing

In the world of real estate today, marketing starts and stops with the Internet.  If you are there, you are EVERYWHERE.  The vast majority of buyers search for their home online.  Yeah you can insist on open houses every weekend, newspaper ads, or even insist that your Listing Agent walk up and down the busiest road in your market wearing a sandwich board with your listing on it.

If you are getting a lot of buyer traffic, the marketing your agent is doing is working.  

If that traffic is not yielding an offer, the home is overpriced.

All marketing is going to do is bring buyers to your home.  It's getting the word out that your home is for sale.  It's not going to make them take pen to paper and write an offer. 

Unfortunately, the first place sellers like to look when a home isn't selling is at the marketing.  They will suggest their agent isn't aggressive enough in getting the listing "out there."  Again...

If you are getting a lot of buyer traffic, the marketing your agent is doing is working.  

If that traffic is not yielding an offer, the home is overpriced.

The best a Listing Agent can do is get the buyers out and about in your marketplace to tour your home.  That's it.  The home needs to be the one the buyers like best.  This means staying on top of who your competitors are and how you stack up against them. You want to be the obvious choice:  best price for the condition.

So if you feel like your home is Grand Central Station, relax.  The marketing is working.  If all that foot traffic is not producing an offer, consider a listing price adjustment.

 

 

Chris Ann Cleland, Associate Broker- Licensed in Virginia, GRI, SFR, Northern Virginia Short Sale Specialist. Affiliated with Long & Foster, 7526 Limestone Drive, Gainesville, VA 20155.  To contact Chris Ann, call 703-402-0037 or email chrisann@LNF.com.  Or you can visit her website:  www.nvarealestate.net.

Header is a combination of photos from the Bristow, Gainesville & Haymarket areas, taken by Chris Ann Cleland.

 

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Comment balloon 3 commentsHolly Weatherwax • August 06 2012 01:59PM
All the Marketing in the World Can't Sell an Overpriced Listing
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If your house is languishing on the market, you must examine your pricing. A well-priced home will go under contract in a reasonable amount of time. All the Marketing in the World Can't Sell an Overpriced Listing In the world of real estate… more