Case Study: Selling an Expired Listing.
WAYNE HAS PERFECTED THE MARKETING SYSTEM
FOR SELLING A HOME
Walter and Suzy had previously listed their home with another firm for just over 3 months, but unfortunately the home did not sell within that timeframe. To their dismay, they received only one showing from a buyer and no offers during the entire time the home was listed.
When a home is listed, doesn’t sell and eventually expires, it could be any number of issues that prevented the home from selling. It could have been that the price was too high. It could have been that the marketing was ineffective. It could have been both.
The primary challenge with Walter and Suzy’s home was both of these issues: the home was listed far higher than what the market could bear, and the previous firm’s marketing did not present the home in its best light, failing to demonstrate to prospective buyers the many positive features the home offered. Additionally, the home had a number of challenges that limited the prospective buyer pool and therefore required an experienced broker both to determine a realistic list price the market would bear as well as to market the home effectively to that smaller pool of buyers. To be specific, the home:
- Was just one home away from a busy road
- Had relatively little yard space
- Had an odd orientation relative to the lot (specifically, the front of the home was perpendicular, not parallel, to the street)
- Had severely soiled carpet from the previous owner’s cat
When Walter and Suzy made the decision to relist the home with a new firm, they interviewed two other agents in addition to The Olson Group. While the other two brokers insisted that the home needed to be listed under $500K in order to sell (the home was previously listed at $540K), our market analysis showed that the home should be able to secure a purchase price significantly higher than that. In fact, we listed the home at $535K.
Our marketing plan included the following:
- Stunning professional photography
- A cinematic video tour
- An immersive 3D walkthrough tour
- Social media “blitz” advertising online advertising campaign
- Pre-marketing to area brokers prior to official “on market” launch date
- 200 “Just Listed” postcards delivered to the surrounding neighborhood
- 50 “Just Listed” flyers personally delivered to immediate neighbors
- 1-year Buyer’s Home Warranty included with sale (at our cost)
- Professionally designed trifold brochures and 11″ x 17″ yard sign permaflyer
- Full features list in the home with strategically placed “silent talker” postcards throughout the home, pointing out various features and finishes of the home to prospective buyers
- Weekend open house
By the fourth full day on the market Walter and Suzy had received an offer at $531K – $31K higher than the recommended list price of two other brokers.
Bull Mountain | Tigard, OR
Gregory Pierce | Ruum Media
3 months on market, with only 1 showing and 0 offers
Wayne has “perfected” the marketing system for selling a home. He developed a very professional set of tools to present a seller’s home to potential buyers. For online presentation, Wayne had our home professionally photographed and had a 3D tour (similar to Google’s Street View) of our home’s interior. In addition to supplying this information to Zillow, Wayne created a website dedicated to the presentation of our home. Once an interested buyer came to our home, Wayne had professionally prepared a bound printed presentation of the home.
— Walter and Suzy K., Tigard