My best friend in another state sold her home last year. Long before she put it on the market and long before she chose a real estate agent, we talked about selling strategies.
Her home ended up selling in record time, at the best price she imagined. She suggested that I share my strategies with you. So, here ya go!
I told her that the successful sale of a home depends on the following strategies, and they must ALL work together:
So, to honor my bud, I’ll break each of these down for you, as I did for her
Brilliant idea #1 Pricing
This seems so basic to me, but my friend … hey, let’s give her a name. The Social Security Administration says the most popular name in the U.S is Mary, so let’s call my friend Mary.
Anyway, when Mary decided to sell her home, I ran a quick market analysis for her to come up with a base price. There was another home in her neighborhood for sale and another, about three blocks outside the neighborhood, that was also on the market.
She was insistent that she wanted to price her home according to these homes.
That’s mistake number one
The market value of a home is based on what a willing buyer pays for a home. Until her neighbors’ homes actually sell, what they are asking for their homes is a fantasy. . .who knows if the homes will sell for that price?
Yeah, it’s hard to price your home higher or lower than the competition. It’s scary. But all you need to know is that their prices are a fantasy. Price yours at market value and you will be rooted in reality.
Brilliant idea #2 Presentation
One of my colleagues sums this one up in one sentence: “Realize that little things do matter.”
Understanding the way real estate is evaluated is key to manipulating the end result. And, the way a property is presented is the key to everything.
This is why Realty Billings not only suggests that you get a pre-sale home inspection, but pays for it. It’s also why we pay for your home www.
PRESENTATION is paramount in the sale of everything from cars to, yes, homes
Think a new kitchen faucet won’t be noticed? Think again. New knobs and drawer pulls? Buyers may not “get” them, but because they add to the overall appeal, they will contribute to a perceived value. And THAT is what “presentation” is all about.
Brilliant idea #3 Marketing
I don’t mean to sound snarky (OK, maybe a little) but there are few Billings real estate agents who know the first thing about marketing.
What are you paying a real estate agent to do for you when you choose him or her as your listing agent? Stick a sign in the yard and a lockbox on the door? A flyer box on the sign? Suggestions on how to stage the home?
Sadly, at least for area homeowners, marketing is a listing agent’s primary job.
And, when the price is right and the home is brilliantly presented and it still sits on the market, nine times out of ten it’s because of the lack of effective marketing. And, as we say on our marketing page,
“Hope” isn’t a marketing tool
It takes a lot more than a generic, one-size fits all template type of marketing plan, especially when online marketing is so important. Which is exactly why Realty Billings offers Enhanced Custom Marketing Programs.
Forget about the hype you read about “how to hire a listing agent.” The number one criteria should be the agents’ plans to market your home.
OK, I’ll jump down from the soap box now.