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How is Social Media affecting Real Estate SELLING?

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

Love it OR hate it, Social media is here to stay. Let me tell you a story how social media is HURTING some real estate sales. Lets take a situation here in the Manchester NH area. A Home seller emailed they wanted out of their contract. Their friend sold their home in 1 day and theirs has been for sale for a month.

 

There are two parts to the story so lets look at both the friends house and why their home is not selling.

 

First their home. Simply put it is over priced given the location and condition. Second there has been 21 showings. So the marketing is reaching potential buyers, why are they not making offers? Not to get personal, but the reasons were passed onto the seller who has not solved those issues.

 

NEXT, lets check out the friends home. I actually saw this listing and know it was on the market a lot longer than 1 day. For a week it was coming soon, not in MLS. Then for weeks 2 and 3, it was coming soon where if you did not have a buyer agent, you could preview the home. Finally in week it hit the MLS where there would be an open house that all buyers with buyer brokers could see the home in a two hour period. Upon the open houses end an offer was accepted.

 

Just under 30 days an offer was accepted on the friends home seemingly priced lower than market value for a good area with desired homes. Opposite of the subjects home that needs a lot of work and is priced higher than market value. 

 

The communication was actually good as the seller could then see apples for apples. They had taken to social media the following 3 weeks with their displeasure over the friends gloating of a 1 day sale where they could not sell theirs. I did not want to tell her the friend maybe should have had a good 10 offers at that price and most likely may have sold at a lot higher if they put in mls day 1 and let everyone see the home. 

 

The seller reduced her price just a little, but back then it inspired some new showings and offers we all sought.

 

ll just because it is online, does not mean it is true or real. In social media. There are stories behind the stories.

 

 

 Perhaps the MOST IMPORTANT message is to share with every consumer that my philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 32 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

Comments(6)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Scott. Days on market has new meaning since the advent of "coming soon"! Enjoy your day!

Aug 01, 2019 05:11 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Scott Godzyk the value of the Internet is as useful as the attention given by the individual using it to market their inventory....

Aug 01, 2019 05:18 AM
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

Hi Scott Godzyk 

Coming Soon can be abused and is why I really don't like it even though I do use it on occasion. Social Media is what it is.

Aug 01, 2019 07:14 AM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Scott I drive by a 'coming soon' house and it's said that for months and months and months. It is a total gut job in a mid to high end neighborhood and I can bet every neighbor is just wishing this would go away.  I don't know why anybody would put their sign out advertising themselves in such a manner for months and months.  Oh...he's the guy who never seems to get anything sold cause , wait, you guessed it...it's still coming soon.

Aug 01, 2019 02:41 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

I'm not a fan of the "Coming Soon" riders.  I think they leave too much room for manipulation by listing agents to create a dual agency sale.

Aug 01, 2019 05:12 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Scott- I wonder if at some point the "Coming Soon" sign that has been out there for a while gets overlooked. 

Aug 02, 2019 12:03 PM