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 just sit there 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 Baltimore.
Price It Right
The best thing you can do to stop a listing from going stagnant in Baltimore, is to take care of the basics. And the means, first of all, pricing right or pricing competitively.
“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. If the asking price is obviously too low (much less than for comparable homes in the neighborhood) buyers will automatically think something is wrong with the house and pass it by.
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 Baltimore. Your agent can help you price to sell with a thorough competitive market analysis. (Discover more about this by calling 443-928-4550.}
Another the basics to keep in mind in order to stop a listing from going stagnant in Baltimore is offering incentives. It’s fundamental to selling any high-ticket item and can’t be neglected for real estate. 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. You could even keep your listing alive by offering to include appliances. 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 could be the problem and improvements that could help stop your listing from going stagnant in Baltimore. Here’s just some of what you can do:
USE BETTER QUALITY LISTING PHOTOS
Maybe you took the listing photos with a cheap disposable camera. Sure you saved some money, but the low-quality photos won’t do anything to stop a listing from going stagnant. Hiring a professional photographer comes with a price tag, but not as big a price as not making a sale at all.
INCLUDE FLOOR PLANS
“Add floor plans to the listing photos so that people can get an idea for the flow of the rooms. This is especially important if you are competing with new construction or have a floor plan that has been changed through remodeling that might not be obvious from the photos.”
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 COPY
The property description in your listing has to be absolutely top-notch. Writing these descriptions is a species of copywriting that demands skill and experience. So if you’re not a professional copywriter, you should probably have your agent work on the listing copy and property description.
Hire a Good Local Agent
Finally, hiring a good local real estate agent can definitely help you stop a listing from going stagnant in Baltimore. For your local agent understands the local market (all its quirks and special conditions), knows the demographic make-up of your target market and is well versed in marketing tactics (both traditional and online). And, as we mentioned, an experienced agent will be able to craft a listing that commands attention and will likely get you showings. Our agents are qualified and ready to help.