Mission Impossible: Creating Your Best Chance to Sell Tough Listings
Some listings seem to almost sell themselves. If you’ve got a charming, reasonably priced 3 bedroom ranch it’s likely to get multiple offers in the first day on the MLS with how strong the market is in most places, but what about the other listings? While selling a defunct multi-million dollar warehouse or an enormous and pricey swath of development land can be done, these are tough listings to sell. But it can be done. These properties have sold and do sell, so the question is, when you have these types of listings, what’s the best way to increase your chance of selling?
Pictures are Important
While many agents now understand the importance of quality photography in our increasingly visual society, many tend to forget that this also applies to properties that aren’t as photogenic. Unlike homebuyers, prospective commercial and development property owners probably won’t make their decision based on a few photos, but it will help them to see the potential in the property. If the property is asking a substantial price, the least that should be done is high-quality photography to help buyers clearly understand what is for sale and what the general condition is. The photos don’t need to be limited to the exact bounds of the property either. If the location of a property is its strongest attribute, show it off! Just make sure that it is made clear what is for sale and what is providing context.
Keyword, Keyword, Keyword
Many sites that show listings are able to be searched via keywords so it’s important to include keywords into your listing description. “Too many features to mention!” will not only not help potential buyers find the property, it also tends to turn off buyers at the initial stages of searching because it requires an additional step (contacting the agent) to find the information they’re looking for. While it’s not necessary to put every. last. detail. into the listing description, it is important that all key and unique features are mentioned. Again, keep in mind that the local area or nearby attractions can be added to provide context and enhance the ability to be found.
Partner Up
Selling a tricky listing calls for pulling out all the stops. One of the best ways to increase the likelihood a property will sell is to have a partner to help you market the listing. Oftentimes these marketing firms are able to get better pricing than individual agents because of the volume they purchase meaning they have more (and different) tool available than individual agents. Look for companies that will use your information on the listing (rather than mask it or replace it with their own) to increase your personal brand while also exposing your property to a larger audience.
Depending on the disposition of the property sellers, it may also be a wise choice to incorporate range pricing and/or auction events (sometimes called time-limited or marketing events) to create more buzz around the property. These events can help push potential buyers who are sitting on the sideline into the game as well as pull in interested buyers in other prices ranges due to the range pricing.
These tactics don’t guarantee a sale by any means, but they will help to increase exposure and increase the likelihood of a sale. To see an example of how good photography, a keyword-rich listing description, and an auction platform can lead to improved opportunities to sell click here!
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