A bad listing will cause a house to sit on the market for too long and only end up working against you.
In our latest post, we will help you learn how to sell quickly, avoiding a dreaded bad listing.
When a house sits on the MLS of weeks or months at a time, the odds of it selling decrease astronomically.
It will drop down the list of available properties, getting viewed by less and less people.
When it sits stagnantly for a period of time, people will begin to assume there is something wrong with it.
Even if it is great shape, properties that stay on the MLS for a long time often become overlooked.
On the MLS and listing sites such as Zillow, prospective buyers can easily see price changes and how long it has been on the market.
Repeatedly dropping your price can make you appear desperate, making people feel as if they can offer a low price and you will accept.
Below, we offer some insight as to why your house isn’t selling and what you can do about it.
How Your Bad Listing Is Not Helping You Sell
Your Home Is Priced Too High
The value of your home is not determined by what you think it’s worth.
The value of your home is determined by how much someone is willing to pay.
If a home is priced too high initially, people will pass on by.
Your listing will get the most exposure the first week that it is listed.
After that, the listing will slowly make its way down the list.
So even if you drop the price to something more reasonable, you won’t have as many prospective buyers seeing the listing.
Notice how the price history on the property below has dropped a total of 42.7% in a year.
This is during one of the hottest real estate market cycles we’ve seen.
Getting your price right is pretty important to sell your house quickly.
Trying to squeeze every penny out of your property will cause you to lose a lot more in the long run.
Bad Photos or Description
Any aspect of a bad listing or advertisement will make people look the other way.
You should make sure the ad copy is on point.
Highlight the positive features and amenities of the house, being sure not to leave anything out.
Avoid Red Flag Words In Your Listing Description
In a study of 24,000 homes, Zillow found certain words will actually hurt a home listing.
This means the way you write your real estate listing description could actually affect the final selling price.
These words include “fixer-upper,” “TLC,” and “cosmetic.”
Why? Unless you’re looking to flip a home, these words imply the home requires a lot of work.
While these words are not outright negative, they give potential home buyers the impression there is a lot of room to negotiate.
Save these words unless you have a home that needs a lot of work and is priced accordingly.
Include Words That Add Value
While you may want to avoid the red flag words listed above, there are also words that can help a home listing.
“Impeccable,” “luxurious,” and “landscaped” were found to help boost sales prices.
So if there’s a jacuzzi tub in the master, luxurious will definitely apply to your real estate listing description.
Highlight Unique Features of Your Home
The character can help sell a home.
Is there a fireplace in the master bedroom?
Or maybe an original stained glass window in the entryway?
At the very least, it will help potential buyers differentiate your listing from the other dozen they are browsing.
Mention a few one-of-a-kind home features in your real estate listing description and the right buyers will appreciate it.
It may end up being what makes a potential buyer schedule a showing.
Take Notice of Punctuation
Every sentence should not end in an exclamation!
If everything is amazing, then nothing is!
On the other end of the spectrum, be sure that you use punctuation.
Long, run-on sentences are hard to follow and information gets lost.
Write your real estate listing description using complete sentences and appropriate punctuation.
Readers will appreciate the effort you took to write a coherent, easy-to-follow summary.
Original Example:
tons of natural light – nice park nearby lots of trees in the backyard, move in ready
Better Example:
This move-in ready home has been recently updated, including new windows that provide ample natural light. Enjoy the shaded backyard or walk to the neighborhood park down the street.
Leave Out Super Basic Info
The number of beds, baths, stories, and so on is visible elsewhere in your online listing.
This also applies to your phone number or contact info.
That should be available in your email or on your landing page.
Save your real estate listing description space for the juicy details that will make potential buyers want to see it for themselves.
A poorly written description can cause potential buyers to skip over your property within seconds of landing on the listing.
Use Great Photos
Quite often, you will see a listing with bad or limited photos.
In order to have a successful listing, you should take the time to clean the clutter out of the house.
Make sure there is a lot of light in the photos and even opt to bring in a professional when needed.
Paying a little upfront will make a big difference in how your listing is received.
This isn’t anything you can write, but photos are an incredibly important part of your listing.
Consumers are more tech-savvy than ever and expect quality photos.
If every image is washed out with a bright flash or is so grainy you can’t tell what you’re looking at, people will move on to the next listing.
Smartphones can do just about everything, including taking pretty excellent photos.
If you remember anything, remember that natural light is your best bet.
Open the curtains and get to snapping!
Time to put your real estate listing description to work!
Let’s take what we’ve learned and write up a sample real estate listing description.
Original Example:
updated throughout, nice yard, good size for a family, but lots of room to grow!! all bedrooms updated w/clean carpet – w/d connections – a charming and comfortable home. Good neighborhood too
Better Example:
This stunning two-story home is on a large lot in a hot neighborhood. From the open-concept kitchen and living space to the large shaded backyard, there is plenty of room for the whole family to enjoy. Recent updates include new carpeting upstairs and stainless appliances. Situated in a family-friendly neighborhood near a great park, this home is sure to go fast!
Dark and Dreary
When people come to view the house, they shouldn’t feel as if they are in a cave.
Open all the curtains and let in as much light as possible.
Your prospective buyers will feel more comfortable in an open space as opposed to a confined and dark area.
Major Repairs Required
Many lenders won’t grant loans for people to buy properties in need of major repairs.
If your property is run-down or needs a good amount of cosmetic work, a direct sale might be a more realistic way for you to go.
Trying to sell a property that needs work will cause you to sit on the market for several months while a special buyer comes along to pay retail value.
Banks won’t give first time home buyers FHA loans on properties that need work.
They will only let buyers use conventional loans or renovation loans like the 203k loan to purchase the property.
Note that the lender will be picky about the value of the home.
They will compare the inspection (what needs to be repaired) to the appraisal (what other properties are selling for and their condition) and see if your home is truly worth what you are selling it for.
If the lender deems that your home is not worth as much as it’s selling for, you may have to spend thousands of dollars making repairs just to sell your house to someone using a bank loan.
The sale of your home could fall apart after months of waiting and spending money to repair it.
You can skip all of the headaches by just selling your house fast directly to an investor.
What A Bad Listing Is Costing You
The longer your listing sits idly, the more the house ends up costing you.
You will be sinking money into the house for the continued expenses such as utility bills, homeowners insurance, and property taxes.
You will also have to consider the time and money you put into the house getting it ready for the MLS, sometimes all for naught.
What You Can Do About It
Avoid The MLS Altogether
Many people in Atlanta and across the country are opting to sell their homes to buyers directly.
The process will free them from commissions, repair costs, and not knowing when the house will sell.
At Breyer Home Buyers, we are a team of direct buyers who can make an offer on your house almost immediately.
There is never any obligation.
If you have tried to sell in the past without any luck, or if you simply want to sell without any cost or waiting, a direct sale is an option you should seriously consider.
Upgraded Marketing
If you decide to relist the property, you may decide to do things differently the second (or third) time around.
If you are going to do it, do it right.
Make the investment in a professional photographer or videographer.
Pay the costs for the featured and upgraded online listing options.
Do whatever you can to quickly get your house in front of as many people as possible.
Set The Price Right From Day One
Nothing can destroy a great listing faster than an unrealistic price.
People will immediately assume the house is out of their league or that you don’t know what you are doing.
Either way, your listing won’t be taken seriously.
By pricing it right from the start, you will have a better chance of attracting prospective buyers and selling the house in as little time as possible.
Do you have a house you want to sell in the Atlanta area?
Whether or not you have tried to list the home in the past, we can help you avoid the waiting, hassles, and costs of a traditional MLS listing.
Find out what a direct sale can mean for you! We always make fair and honest offers for Atlanta houses!