More often than not, sellers who have listed their home without a sale did not have the best expertise. Which makes these prospects a valuable source of new leads.
The key is to ask these sellers the right questions! By asking smart questions up front, you will uncover the challenges and gain insight as to they the listings didn’t sell the first time around.
- What, in your opinion, was the reason your home did not sell previously? Once you understand their previous challenges, you will learn their frustrations and their concerns. You’ll get the information you need to evaluate whether this prospect will be cooperative and willing to entertain offers, and work with you to stage the property and allow for showings. You will learn more about their motivation to accept offers.
- Did you entertain any offers during your listing period? The answer to this question will tell you how sell-able the property is. Find out what the offers were and how they were structured. You will be better equipped to present a pricing and marketing plan that positions this property to sell quickly.
- How many buyer showings did you have during the listing period and what was the feedback from your agent about those showings? Depending on the amount of showings the property had, you will get closer to the reasons why the property didn’t sell. If there were upwards of 10 showing and no offer, it may be something that can be easily reversed. The property might be just a tad overpriced, it may need a fresh coat of paint or some staging. Try to get feedback from other agents and address the comments.
- What kind of marketing strategies were deployed during your previous listing period? If the homeowner has had a full-spectrum of exposure and the property did not sell, something could be very wrong with the pricing. Or, maybe the other agent did the minimum by just listing the property and submitting the listing to the company to be included in their standard advertising schedule. Now is the time to show off your premium marketing plan and get the listing.
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