> The “Just Listed” Approach
Your home sale just fell through. You are devastated.
Maybe the buyer found numerous inspection items you couldn’t negotiate or maybe they just got cold feet? Either way, your traditional “Just Listed” agent isn’t going to waste any time! They are going to do a marketing push advertising your home as “Back On The Market”!
Real estate is the only industry I’ve ever heard of that believes advertising a “failed sale” is a great way to motivate a different buyer to take another look or move forward. Why advertise a “failed sale” as “back on market”? Very few buyers will realize the home had secured an offer in the first place. It’s nothing you can necessarily hide, but definitely nothing we need to promote!
Every time a home sale fails there is a high probability that the seller will need a price reduction to combat the stigma. You should know that the listing agent will contact previously interested agents and buyers before going back on the market to see if they can avoid the stigma of a failure.
Why is it back on the market? Was there a price reduction implemented at the same time? What did the buyers find out that was so horrible they would walk away? What is wrong with the property?
These are just some of the things buyers think of when a “failed sale” is marketed as “an opportunity that shouldn’t be ignored”. But, if those already interested parties aren’t moving forward, how is this an “opportunity that shouldn’t be ignored”?
It’s not.
We don’t add to the stigma of a failed sale. Instead, we promote your property as the great opportunity it is. A fresh marketing push after an offer is rescinded is important, but it can be phrased as “Take Another Look”, “Price Improvement”, or “New roof installed before closing”. The words we use in marketing matter.
Advertising “Back on the Market” might feel familiar, but it’s not beneficial.
> Homes Sold for MORE™ Process
“Failed sales” happen, even to Homes Sold for MORE™ agents. However, not nearly at the rate of the “Just Listed” approach.
Sometimes, there isn’t much you can do. I know an agent that received a call from a buyer who was on their way to the closing table. They said they spoke with God, and were told to back out.
There’s no arguing with that.
Our proven process focuses on limiting the most common reasons buyers walk away from a sale.
Homes Sold for MORE™ agents understand that the typical inspection contingency period is the most stressful time in any home seller’s journey and it’s the number one reason why buyers walk away from a sale. The anxiety, the loss of sleep, the waiting! There is no reason for it.
We proactively position you to avoid the common pitfalls and don’t subscribe to the belief that “it’s just the way it is”.
There is absolutely no reason a buyer should be walking away from a home sale because of surprise inspection issues. This is exactly why we pre-inspect every single home we list. Traditional methods don’t believe in pre-inspecting. Buyers hire their own independent inspector anyway, so why waste the money? Or what if a material defect is found, and that would need to be disclosed?
Homes Sold for MORE™ agents believe that it is more beneficial to a seller to find out a disclosable issue and decide how they want to manage it before they are under contract, under time pressure, and under the scrutinizing eye of an inspector who is working for the buyer. Our proven process keeps sellers with the upper hand, and out of being backed into a corner by a buyer who is threatening to walk away because of a surprise inspection item.
A pre-inspection is for the seller’s benefit, not the buyer. This is a hugely important strategy for you to understand if you’re getting ready to sell your home. Want to have the upper hand in inspection negotiations? Then cooperate with pre-inspection. Repair what is needed beforehand or disclose items you aren’t willing to tackle. It’s better to deal with it up-front than risk losing a sale.
Just because one buyer decided to walk away, does not mean that your home won’t be perfect for another buyer!
