Whether you are a new agent or have been in the real estate industry for years, you must know how competitive the housing market can be. With so many properties for sale at any given time, creating a listing that truly stands out is the key to success in real estate transactions.
While it is vital to understand what goes into a successful listing, it is often just as critical to learn what not to do. What is the biggest mistake real estate agents make while listing a property? Here are a few frequent mistakes seen by a listing agent as well as tips on how to prevent them.
Using poor photographs
First impressions are crucial for a real estate agent. According to the National Association of Realtors, 90% of homebuyers start their search for a new house online.
Nowadays, there is little justification for not including high-quality photos in your listing when practically any smartphone can capture beautiful, high-resolution shots.
Despite this, many other real estate listings fail to capitalize on the opportunity to attract potential buyers right away. In detail, here is what they miss out on:
- There are not enough photos.
- There is poor illumination.
- There is a lack of depth.
- Items may deter prospective buyers. For example, a cat on the carpet could be a warning flag for someone who is allergic to cats.
If you are concerned that you lack a visual sense, try hiring a professional photographer and working with them to acquire stunning photos of your home. As a head start, this will set you apart from the dozens of other listings that have poor-quality photographs.
Setting Overpriced Listings
In understanding home buying in the Philippines, many times, properties are overpriced because property owners believe that they can receive more money than what the houses are worth. On top of that, the real estate agent will sometimes agree to a price that will never sell.
First, acknowledge the value of your client's time and money investment. Then, respectfully, make your case for a lower price by citing previous sales of similar homes in the neighborhood and try to reach an agreement. You will be able to maintain a strong relationship with your client while also ensuring that their house sells in a reasonable amount of time and at a fair cost.
As a real estate professional, keep in mind that you are the expert. Overpriced properties tend to stay on the local market for an extended period of time. If you know a home will never sell for a high price and the seller insists on the listing, it is advisable to walk away. Instead, you should look for reasonable home sellers. These are the people who recognize the worth of their property.
Leaving out important details
While this may appear to be a no-brainer, it is really a more common error than you may believe. A successful listing must paint a clear portrait of the property, combining photos and textual descriptions to give clients an idea of what the house looks like on the inside and out.
A poor listing omits crucial information. For instance, if it is unclear where the bedrooms and baths are located, buyers may leave your listing and go to one that provides the kind of property information they require. After all, there are tens of thousands of other properties in a desirable location, and wasting time and energy is not an option.
Meanwhile, if you want to invest in buying or selling condominium units, here is a guide to choosing your agent or broker and how to sell condo units in Vista Residences.
Adding too much text
On the other hand, some real estate agents include too much information in their listings. While it is good to give people useful information, it is also important to catch most people’s attention with descriptions that give the main highlights and are not too long. At the end of the day, you do not want to bore the reader. Keep your listing descriptions clear, concise, and intriguing with a high-quality picture.
Not choosing the appropriate marketing strategy
When listing a home, many real estate agents make the error of not selecting the right marketing business plan that works best for them. This can be attributed to branding expenditures, license fees, and camera equipment costs, among others.
If your listings are not selling as rapidly as you would like, it is time to reconsider your marketing strategy. Even if your listing is perfect in every other aspect, it will be considerably less likely to attract potential buyers if it is not adequately promoted.
You can publicize your listings on your blog posts, social media accounts, and even online organizations. Try searching Facebook or the web for "homes for sale" in the area where you are selling. Aside from that, you could think about running sponsored advertising to boost your listings. This will not only increase your visibility but also allow you to target certain groups and individuals in specific places.
Not preparing the house
Whether new agents or experienced agents, many will list a home and then show it without consideration of its appearance. This is a big mistake since the way a home is arranged might influence whether or not the agent holds an open house.
Make an effort to depict how the house may look with furniture and appliances inside. With everything in place, real estate investors will have a better idea of how it would appear to them and maybe be persuaded to make an offer.
Aside from making necessary repairs and updates to your home, visually preparing for showings is also important for attracting a buyer. Here is what you should be doing at the very least:
Clean and declutter.
Remove all the clutter. Put all you can away, but don't just cram the closets because they will look in there as well.
Depersonalize
Remove family photos, stow toiletries, and store personal collections out of sight. The purpose of depersonalizing your property is to allow prospective buyers to see themselves living there.
Make it neutral.
Repaint your home in neutral colors. Do yourself a favor and repaint it in creams, whites, and grays.
When a real estate investor has visited dozens of residences, it can be difficult to use their imagination. Allowing them to start with a blank slate makes it easier for a buyer to see the home's potential.
Ignoring the Importance of Repairs and Upgrades
When assisting in the sale of a home that could benefit from some cosmetic repairs, agents should advise their clients to get them completed prior to listing. Failure to do so may result in delays, difficulties, and heartbreak for both the seller and potential buyer.
There is no reason to conceal items or be dishonest when listing your home. Not only is it a low-character and integrity approach, but consumers will eventually discover it as well. After you accept their offer, they will most likely have a house inspection, which will reveal any faults you have hidden from them. Just be honest upfront to spare everyone's time and headache.
Limiting the Open House
We understand that preparing your home for a last-minute showing and finding a place to stay while your house is being shown is a significant inconvenience. However, limiting showings to weekends or specified periods during the week may result in a loss of potential buyers.
When it comes time to show your home, delegate the task to your agent and get out of the way. Do not stick around for showings. Your presence does nothing but make everyone feel uncomfortable.
Sell your home the smart way.
As you can see, there are various mistakes in the selling process you may make, and some of them can entail a high cost. But now that you are aware of the most common blunders, you will be able to run in the opposite direction and avoid them.
Don't forget that having a top-notch real estate agent on your side makes the entire selling process a lot smoother. Plus, if you are thinking of selling your house and moving into a new condominium, check out Vista Residences! That is something our knowledgeable and trusted Vista Residences agents can help you with.
For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.
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