9 Costly Mistakes to Avoid When Placing Your Home For Sale - Part Three
The Digital Footprint
Most buyers and sellers now recognize just how important the internet is in, not just when marketing a property for sale, but also for gathering information to help make decisions about which homes are comparable to yours when looking at deciding on an initial asking price. But still many sellers think that can overprice, and then wait for a buyer to come along at some time in the future to pay “their” price.
A very dangerous decision.
Whilst it might seem reasonable to overprice for a while and see what happens, with the thought that you might just attract that one buyer who will pay your ‘hope’ price and if nothing happens after a month or so, then you can still reduce your asking price and try the next level of buyers.
Sounds like a very sensible approach.
Welcome to the internet and a thing called Your Digital Footprint!
In chapter one of Peter O’Malley’s book titled Real Estate Uncovered, he says “Whenever your property is put up for sale, auction or rent, the price and name of the agent you are using and the date the online advertisement was uploaded is automatically recorded in that property’s history”
Whether your property is sold or not, your entire advertising history is available to the public and should a property have been for sale for too long a period of time, even if withdrawn from sale for a while, it is still shown as having not sold, and when it is put back for sale, buyers start to think ‘what is wrong with it?, why didn’t it sell last time?.
And as Peter again says, “when more activity (buying and selling, or attempting to buy and sell) is recorded, the more likely people are to assume that something is wrong with your home”
How do I avoid leaving the wrong footprint?
Obviously, pricing your home to sell quickly will avoid a potentially negative digital footprint, but it’s not that easy to get it spot on from day one. If you are not receiving the interest that you feel your marketed price should have been attracting, don’t wait too long to change it.
Another suggestion is to market your property without putting the address on the internet, then potential buyers will call to get more information and it won’t add to your digital footprint, as the footprint is address based.
Plan your marketing strategy around the internet
The internet is here to stay, over 90% of our buyers find the property on the internet before contacting us, and with more and more people using smart phones and other mobile devices to check the internet while out and about looking for a home, this will only increase, so your digital history is very important to your success in selling.
Make the internet your friend. There is no avoiding it, so make sure that as part of your marketing, along with good photos and enticing advertising description, you advertise at a realistic price, reduce it quickly if you’re not getting action and you will almost certainly have a good selling experience.
I have 5 copies of Peter O’Malley’s great book – Real Estate Uncovered - to give away, just go to our Facebook page for the details.
This is part three of a nine part series for home sellers.
Author, Graham Lester
Maggie Dixon Real estate