Strategies to Revive A Stale Listing
It may seem like every listing sells the first weekend these days, but as the market begins to slow down, more sellers are facing the dilemma of an aging listing. If your listing has been on the market for a while, buyers naturally assume something is wrong with the home and avoid viewing the home. Fortunately, there are strategies to renew the listing and re-engage buyers’ interest.
If your listing is losing steam, the first step is understanding why. Typically, if a home is not getting offers is priced too high. Even homes in terrible condition will sell quickly for the right price. In a market where homes are selling quickly, it’s common for sellers to assume they can push their listing price even higher, but savvy buyers and agents will reject overpriced homes.
Another strategy is to put the home on hold and make a few updates. In most cases, simply adding a fresh coat of paint or new carpet can offer a more appealing look to buyers. In other cases, sellers may need to replace appliances or more to garner a top price. Always weigh the cost in dollars and time before making significant updates.
Finally, some Multiple Listing Services (MLS) allow an agent to refresh the
listing by temporarily taking it off the market for a few days and then placing it back on “active” status (with seller authorization). This triggers new alerts to buyers and agents looking for a comparable property. If your listing is not getting the attention it deserves, speaks to your agent about your options.