Each year countless home sellers lament that their home for sale is languishing far longer than they expected without selling.
They then decide to take their home off the market, regroup, reflect or reconsider whether to keep trying for a successful sale.
Given the many lives inconvenienced or worse, along with the money at stake-Real Living has included the subject of why homes do not sell, and more importantly, what you can do about it as part of our national Real Living. Real Answers:M educational campaign.
It is our fervent desire that this information will help home sellers better understand how to avoid making decisions that might unknowingly lead to undermining what they so richly deservea successful marketing campaign leading to a successful sale of their home and lifestyle.
WHY HOMES DO NOT SELL
When real estate professionals or consumers conclude that any home or lifestyle does not sell solely due to price, it is because they are not familiar with the four P’s of marketing. Nor, the more recent introduction to the sales and marketing world of S.A.V.E Solutions, Access, Value and Education.
The four P’s of marketing, widely embraced throughout the marketing profession, asserts that the interplay of Price, Product, Placement and Promotion determine whether or not there is a successful selling outcome.
The reason why so many modern day marketing executives embrace S.A.V.E. even more than the four P’s is that its premise is based on how value has replaced price as one of the four factors that determine selling outcomes.
It is tempting to just cite pricing as the only or most significant factor when a home does not sell. While such thinking would certainly be an easy way out for some to simply say, “Your home did not sell because it was overpriced,” at Real Living we say, “Not so fast.” First, let us put these more detailed evaluations from marketing experts to the test!
- Was your home fully marketed and sold as a solution to the lifestyle needs and aspirations of buyers?
This means you need to challenge anyone representing you to explain how he or she intends to market and sell your overall lifestyle and not merely point out the obvious (e.g, “Isn’t this a beautiful kitchen?”)
- Was the appropriate and necessary access to your property provided?
In other words, how wide was the range in terms of providing excitement and access to buyer agents well beyond the immediate market? Was there a plan to reach out to feeder markets and a strategy to involve top producers in all cooperating real estate companies?
- Was your lifestyle presented in a way that maximized its value? Or was your agent more focused on selling more homes versus marketing homes for more?
- Marketing today also succeeds or fails based upon how prospective buyers are influenced. Consider the following if using the four P’s of marketing for guidance.
- While this is not the only determinant, it is a major one. Ask your Real Living network agent for our Real Living . Real Answers:M pricing guide.
- Many homes would have sold or sold for more, if they were more effectively staged. Ask your Real Living network agent for their staging strategy.
- Your Real Living network agent can help ensure your home enjoys full web-based and strategic placement.
- There needs to be greater emphasis here. When homes aren’t properly promoted off and online-especially through effective networking, it leads to underachievement.
THIS IS WHERE REAL LIVING CAN HELP
It is no longer only a question of getting people to see your home. The greater challenge is how to influence these buyers. Real Living has created a proven Customized Home Marketing System designed to maximize range, reach and influence.
Therefore, your agent should develop a customized marketing plan regarding your home and lifestyle. Range and reach is more of a given considering how major real estate brokerages showcase each other’s properties. Our marketing system ensures that your home will be fully promoted throughout a collective syndication called IDX.
Regrettably, insufficient promotion or lack of influence is all too often the missing link. Ask your Real Living network agent how their Customized Home Marketing System is designed to maximize influence with buyer and buyer agents.