“Stale.” “Shopworn.” These terms describe a home which lingers on the market for no apparent reason — typically, for 90 days or more. Although the Orlando real estate market is a hot one, it doesn’t guarantee your property will sell quickly. It’s unfortunate but it does happen and a stale listing can leave the seller and many others perplexed. Even if you have done the most effective home selling prep, that doesn’t necessarily mean you’ll enjoy a quick sale. So, it’s good to know how to sell a stale listed home, just in case it happens.
How to Sell a ‘Stale’ Listed House
So, why do some listings go stale? That’s the proverbial $64,000 question. The fact of the matter is, listings do go stale for a number of reasons. One such factor could be a neighborhood in transition. Changes in a community can cause buyers to hit the pause button long enough for the listing to go stale. A “shopworn” home is another possible culprit. This is a term used to refer to a house that’s seen a lot of buyer traffic but gets little to no traction.
“We’ve all seen homes for sale that linger on the market until the owners give up, only to list again. That can be a great marketing strategy, if you make changes. When a home for sale sits on the market for 90 days or more, it’s time to take a closer look at the pricing, marketing, condition or any combination thereof. Some agents say that you shouldn’t even wait that long to reposition.” —AOL Finance
The property essentially looks worn out to other buyers and it becomes less enticing. Pricing is yet another possible factor. Some sellers believe that by pricing a property just above its true market value will leave room for negotiation. But, this is counterproductive because buyers looking for such a home in a certain price range won’t see it. Vacant homes are generally most in danger of going stale because vacant homes aren’t considered secure. Whatever the reason, here are some helpful tips for how to sell a stale listed home:
- Get plenty of feedback. If the house is beginning to linger on the market past 60 days or more, you should be encouraging feedback from everyone who interacts with the house. You’ll probably receive a few insights along the way. And, you’ll have a better understanding of why the property isn’t getting any real traction.
- Update the listing photos. Take a long, hard look at the listing photos. Ask others you know and trust to do the same. Try to zero in on what’s wrong with the listing photos. Once you know, update your listing images with fresh photos to make it more enticing.
- Boost its online presence. Social media is undoubtedly ubiquitous these days and you should put much of your efforts into boosting the home’s online presence. Use social media to help spread the word and enlist help of family and friends to do the same.
- Lower your asking price. One of the best ways to avoid a stale listing is to price the house right, right off the bat. Consider lowering the asking price to be truly competitive with the closest comparables around. That will help to drive up interest in the house and shows you’re serious about selling.
- Take it off the local MLS. If none of these suggestions and more actions don’t work for you, it’s probably time to take the property off the local MLS. Take a couple of weeks to freshen the house up, improve the curb appeal, take new photos, and then relist it with a good price.
If you are considering buying or selling a house in Orlando’s Hunter’s Creek, or another community, contact us for the latest market information. We are local and experienced in all facets of residential real estate, here to help you, when you need it.