How quickly should you start to get showings?
Emma lives in a city that is experiencing a seller’s market very similar to Nashville. Her home was listed on Friday afternoon and by Monday, she only had one showing scheduled. She didn’t know if they even visited the property because the buyer’s agent did not provide feedback or leave a card.
Emma has noticed that several area homes sold within a few days of the initial listing. Her real estate agent told her that it could take several days to get a house exposed to the market.
Emma wanted to know, “Is this normal for a seller’s market?”
Here is my response to Emma.
This might be normal if you listed on a holiday weekend or your home was in a price point that is moving slower than the average market. For example, we have ample inventory of homes priced above $600,000. This price range has fewer active buyers and they are selling at a slower pace than the market in general.
However, this was not the case.
Which leads me in two directions: Marketing and Price. If you are having trouble getting people in your home then 99.9% of the time it is related to the marketing of your home or it is significantly overpriced for your market. Let’s tackle marketing first.
Emma’s agent is right. It can take a few days for your home to get exposed to the market and that is why pre-marketing activities are so important. Networking with real estate professionals who are active in that area is key to generating a buzz around your new listing.
Once the listing agreement is signed, a marketing blitz should take place to get the word out to as many people as possible in a short period of time.
Professional photos of the home should have been taken before the listing to showcase the home during the initial marketing period. Studies show the importance of professional photos and the difference it can make. The main driver of showings to your home are driven by the pictures in advertising and the MLS.
If you find yourself in Emma’s place, first ask your agent to see their marketing plan and photos they plan to use. Do they look professional? How do they compare to the other homes on the market and those which recently sold? Does the marketing plan seem comprehensive? Did it include pre-marketing activities?
The initial launch is when you will have the most activity and eyes on your home. Make sure you get the biggest bang for your buck.
If the marketing looks good, take a hard look at the price of your home. Take off your rose colored glasses. Tour similar homes to see what you get for what they are asking.
Are you in the same ballpark with your competition?
If you want to know how we would create a custom marketing plan for your home, give us a call.
This Deal of the Day in Nashville has expired because it sold. To see the latest Daily Deals, click the link below: