You have choices in who you hire to sell your property. As you contemplate the various options, there are a few things that should rise to the top in terms of influencers in reaching that goal; (1) Pricing it competitively, (2) Staging it to sell and (3) Driving visibility of the property. These are the three biggest factors that will influence how quickly your home sells and how much it sells for in any market conditions.
Below is the approach that will be used if you hire me to sell your property. In addition to these three focus areas, you can count on me to keep you up-to-date with all the relevant happenings with your property. The biggest complaint we hear about is the lack of communication. With my process discipline, you will not be left wondering.
The technology that is used in the real estate industry today is extremely current and effective in helping buyers and sellers navigate the overall real estate landscape.
However, the same thing can’t be said about the strategies traditionally employed to help you determine the best price at which to sell your property.
You see, the same protocol for pricing that has been used for years - a Comparative Market Analysis (CMA) - is still used today...and using it “by itself” is literally killing sellers’ ability to maximize the sales price of their home.
In fact, using a CMA “by itself”, is so detrimental to sellers getting top dollar, that the average list-to-sales price of a home across the country is nearly 90%. That is a full 10% less than the asking price.
The inherent problem with a CMA is that it only takes into consideration the sale of a small sampling of homes in your competitive range, without considering the reason why those homes may or may not have sold at a specific price. The condition, loss of job, under-priced, dated interior, a divorce situation, low curb appeal, vacant home, staging, foreclosure, short sale, etc. can all create a false sense of value.
If the agent is only using the CMA to determine how you are going to price your home, they could be using homes that sold for much less than a home such as yours. Since the agent picks the comparable homes, this could skew the market data significantly, causing you to lose valuable equity.
The approach we use to determine list price is different. We review the housing market from a national perspective. We review interest rates, availability of financing, and overall inventory of homes the area. Next, we review the overall local market. We carefully review the overall demand in each price range and determine if buyer demand is trending up or down. Finally, we review the homes that are similar to your property. This holistic approach ensures that an accurate price is established for your home.
Standing out increases the perceived value of your home by making it a better value, or different from the competition. “Standing out” is exactly what buyers are looking for. To get your home maximum attention and top dollar, we employ a four step approach:
Expert Staging Advice - We will consult with you to determine what, if anything needs improvement in your home to make it show the best while on the market. Market research shows that staged homes sell in as little as 30 days and for up to 5-10% more than homes not staged. (Staging is optional but recommended in some cases.)
Upgrade Advice - In order to drive the market value of your home up as high as possible, we will recommend, if necessary, any possible upgrades. We will help you arrange the lowest price guaranteed on any work needed to complete the recommended upgrades. Please note that upgrades are not always required to achieve the desired result. We will ONLY focus on items that will net you more money at the end of the sale.
Professional Pre-Inspection - An inspection can uncover potential problems prior to putting your home on the market. Resolving these problems prior to a sale can save you up to 40% in repair costs. This is not a required step, but a recommended one for sellers.
High Quality Photos -90% of the time, the first showing of your home will take place on the Internet. For this reason, it is critical to use photos that capture the very best features your home has to offer. The right angles, with wide angle lenses, proper lighting and Photoshop make a significant difference in the number of showings a home receives.
We have a network of some of the best tradespeople available at the best possible prices. We are happy to arrange for repairs to be completed to your home or provide you with a list of these tradespeople for you to contact and interview.
Exposing your home to the largest number of qualified buyers gets you the best possible price for your home.
Diverse Marketing Plan - Building on the principle of standing out, massive exposure seeks to represent the differences your home offers to the largest possible pool of qualified buyers in your market area.
The traditional marketing strategy employed in today’s market falls woefully short of getting your home the exposure you need to attract the largest number of qualified buyers. The largest number of qualified buyers looking at your home will get you the right offer for the highest price.
Serving in an Executive capacity in Corporate America for over a decade and obtaining my MBA allowed me to develop a strong skillset in marketing, negotiation and business. I not only perform all the customary marketing activities you will find with most agents, but I go above this with my 20-point marketing plan that leverages a diverse set of medians to get your home maximum exposure with potential buyers.
Internet and Social Media - 90% of buyers look for a home on the Internet where more than 900 million websites are accessible. The majority of U.S. households now have Internet access, and a great number of websites offer virtually unlimited real estate listings. As a result, today’s buyers rely heavily on the Internet as their primary source of information and data about properties for sale. With thousands of real estate sites now competing for attention, very few agents have the time, tools, or knowledge to properly utilize the Internet as a sales tool. As such, we sink a considerable amount of energy into driving your property across the key search platforms and social media outlets with attractive advertisements for your property.
Networking with Other Agents - There’s a common misconception among home sellers that you need to work with a local or neighborhood specific agent in order to get your home sold. The fact of the matter is that 70% of homes are sold by co-op agents. This means that you have a less than 30% chance that your agent is going to attract the buyer for your home.
We know the importance of working with other agents in our marketplace and we have a plan that leverages the greatest amount of other agents to sell your home. Our brokerage office has held the #1 spot on closed transactions for some time. We work hard to maintain this by working collaboratively with agents inside and outside of our firm to match buyers with our listings.
Buyer Feedback - Many agents put a sign in front of your home, place the home on the multiple listing services and then wait to see what happens. When nothing happens, the agent often times just asks for a price reduction. Sellers are left feeling disappointed and don’t understand why their home has not sold.
We constantly monitor the showings that take place on your home. We follow up with each showing and determine 3 things. We first get feedback on how the buyer and agent felt the home showed and what could be done to help the home show better. Next, we determine if the buyer purchased another home and why they chose a different home over yours. Finally, we get feedback on the list price. This allows us to partner with you and be agile during the listing process.