The first week your home is on the market, there are two fundamental metrics that we keep a close eye on:
Our goal is to have 5 – 10 showings the first week your home is on the market. If we don’t have at least 5 showings, we have a problem. Either the marketing/photography is wrong, or the home isn’t priced correctly.
If this happens, we need to have an honest discussion about what needs to be done. After the first week, our goal is to have 3 – 4 showings per week. Depending on the feedback we’re receiving at showings and the number of them, we may need to talk about reducing the price if we don’t have an offer after the first 2 weeks.
The other metric we keep a close eye on is the marketing stats. We will send you these on Monday mornings. Our goal is to have at least 350 people view your listing. This means your home matches the search criteria they are looking for in a property. Anything less than 350 means not very many people are looking for a home like yours, and the potential buyer pool is small.
If this is the case, we need to figure out how we can expand the number of people who might be interested in your home. Most searches are based on seven main criteria and each one can be a deal-breaker:
For instance, if your home doesn’t have the square footage, is there a way we can utilize spaces more creatively and accentuate that in our photography and descriptions?
In addition to looking at the number of people viewing your property, we also look at the number of people who have marked your property as ‘Interested’ or ‘Maybe’. Our goal is to have 20 Interested and 20 Maybe’s at the end of the first week.
Generally, that’s a good indication that your property will sell in the first 30 days it’s on the market.
First, don’t get discouraged. Remember our discussion about the average days on the market in your area. This process doesn’t happen overnight, but eventually, we will find the right buyer for your house.
Second, keep your house clean and tidy and approve as many showing requests as possible when they do come in. The more showings we have, the better the potential of getting an offer.
Third, we need to take a hard look at what we can do to improve the chances of your property selling. There are four essential factors that figure into the selling process:
Finally, would you consider a monetary incentive to encourage buyers to put an offer on your house? Perhaps a closing cost credit if the property is under contract by a specific date? Or let us offer an incentive bonus to the buyer’s agent if the property is under contract by a certain date? Even if an added financial outlay isn’t what you initially envisioned to get your home to sell, these techniques really do work.