Many parts of the United States are currently enjoying a “seller’s market.” Even so, sellers aren’t experiencing bidding wars everywhere, and even in hot markets, there are always locations and properties that are just a harder sell. As a Realtor, it can be tough keeping your sellers motivated when the market is listless.
What can you do to help your clients stay positive? Here are a few ways to boost morale while you’re waiting for a home to sell.
Improve Showings with Staging
Data proves that staging helps sell homes. Of course, it’s always best to encourage your clients to stage before they go on the MLS but if they didn’t, it’s never too late to stage. Professional staging services can give your clients’ property a new look, boosting showings and at the very least, a better online presence. Sometimes the end-buyer is someone who saw the house weeks or even months ago; staging might help them come around! Be sure to encourage your clients to re-take professional photos after staging.
Encourage Alternate Financing/Bonuses
Sellers hate price reductions. One way around having to eventually reduce the price of a home is to get creative with pricing. Buyers can be incentivized by things like a seller’s offer to pay their closing costs, for example, or a transferable home warranty. It’s even worth considering cutting a half-percentage off your commission to add to the buyers’ agent’s commission, and/or offering buyer’s agents a “bonus” if their buyers jump on the property. There are many ways to offer a price reduction without cutting the list price.
Reevaluate Comps
Sometimes it’s helpful to remind your sellers about the data. When sellers see their neighbor’s house selling they may feel like there’s some obvious reason theirs is not. Sitting together to review the comps can be a helpful exercise…maybe it will reveal that home prices in the area have dipped, or maybe all the houses that are selling actually have more square footage or bigger lots than your clients’ home. Figuring out a home’s differentiators – and then playing to those with staging and other marketing efforts! – is one of the best things you can do to get a home sold. Knowledge is power!
Thankfully, the current housing market favors sellers! It’s true, though, that all homes are different and all markets are unique. As a Realtor, it’s your job to keep your clients informed and engaged in the home-selling process – let Creative Home Stagers help! We’re always available to speak with your clients about the benefits of home staging and the data that supports it.