5 Reasons Why a Home Fails to Sell
by: Jeff Quintin, on May 16, 2013 - estates new jersey new jersey real estates new real estate nj nj real estate nj real estate new nj real estates real estate and nj real estate in nj real estate nj realty new jersey
To get a home sold, two things need to take place. First, we need to position it properly and price it well so it’s important to understand the pulse of the market. Once we establish the price, our job is to market it to its fullest to all the buyers out there by being very aggressive. Easier said than done. Not all agents do this. Here’s why homes don’t sell and what needs to happen.
1. There’s no specific marketing plan to help sell the home. We have a 31-point plan that outlines what will happen in the first 2 weeks, 30 days, etc.
2. A realtor puts the home in the MLS (Multiple Listing Service) and then just waits. If it was that easy then all the homes in MLS would sell, but only 5 to 8% sell if the only exposure is in the MLS. In Southern New Jersey this means 92 to 95% don’t sell if they are just in the MLS. The agent needs to promote the property to the buying public and the agents at all times.
3. Database marketing is lacking. A lot of buyers are looking on the Internet and plan to purchase in 9 to 18 months, but most agents don’t have a way to market to them. This large group that’s looking to buy later isn’t being cultivated, but we capture their information and keep in touch with these potential buyers on a weekly and monthly basis. We build relationships with them. These potential buyers come to us because we keep in touch with them, educate them and they ultimately feel comfortable working with us. We nurture these leads over time and turn them into buyers.
4. Almost 90% of the time buyers will go to the Internet first to get information on a property. You can find just about every home today on three main Internet sites—Zillow, Trulia and realtor.com if it’s in the MLS. Yes, your home gets exposure to online traffic, but a great realtor needs a system to drive online home shoppers back to their own web site to capture their information. For example, we drive buyers to our Southjerseryhomeowner.com site where we capture 300 buyer inquiries a month. These inquiries are great leads for our sellers. Agents are not doing this which is keeping homes from selling!
5. The agent isn’t in touch with the seller. Agents must be in constant communication with the seller and share feedback from potential buyers so the seller can make changes midstream, such as change the price or condition of the home. The bottom line? The agent must engage in clear constant communication with the seller. If not, properties won’t sell.
Give us a call so we can tell you where to be positioned and how to be successful in this market. Please contact us at (609) 398-5333 or email us at