1. Is the Price Right Bob?
Many home sellers in today's market have yet to come to terms with where the market is as a whole. No matter the amount of media attention the bursting of the bubble received, too many sellers just don't get the point..
Listen, facts are facts and it is what it is. The bubble BURST......and hard!! Inflated prices do nothing in this market but waste time and build frustration for sellers. What your home was worth a few years back has absolutely no effect on current pricing. As a seller you need to factor in what your immediate competition is and take a long hard look at what homes are CLOSING for in this market.....not ASKING PRICE - SALES PRICE!!!
A great way to do your own due diligence is to simply log onto Realtor.com and take a peak at your local immediate competition. What are sellers of homes in your area with similar features and square footage asking? Put yourself in the buyers shoes and imagine that you are looking to purchase yourself.
After reviewing what local competition is, price competitively to offer buyers the most BANG for their BUCK!! Buyers in today's market DEMAND value and know that they are in the drivers seat....not you.
If you want to take your "research" even further, ask your agent to take you on a home tour of your competition. (This is also a great way to see how dedicated they are to selling your home) Preview in person as though you were a buyer and ask yourself..... "if I can buy this home for this much, how much would I pay for mine?"
We all think our homes are worth more and offer more... They're OUR homes, of course we think they're great!! We need to take ourselves out of our own shoes however when selling in a buyers market and become a buyer instead of a seller............. be the ball Noonan..
2. Cleanliness is next to godliness
With the amount of competition sellers face in today's market making your home "Show Ready" is no longer important.....it is IMPERITIVE!!
I can't tell you the amount of homes I've shown that I felt the need to dowse myself in Purell after leaving. If you're home doesn't show in a good light do you really think you're going to get top dollar or strong showing traffic? The buyers first impression is extremely important, you only have one chance you know... But the agents impression is almost MORE crucial to your successful sale. If an agent gets a bad impression of your home, what are the chances he or she will want to bring clients to your home again? If you answered SLIM you win the prize....
I know I know.....keeping you home in pristine shape for the duration of your listing isn't easy. It can get stressful and feel like another full time job, I get it. But it WILL pay off in spades!! If you get an additional $10,000 because the home shows well that's not to bad is it? Was it worth it to clean a bit more then usual, get paid for it AND enjoy the benefits of living in a clean and pristine home?
3. Phew, what a view!!
Growing up my father used to enjoy walking down our driveway and looking up at our home which sat on a high hill in Rhode Island. He'd have a beer or an Iced Tea, sometimes with my Mom in tow and would simply look at the house, enjoying the curb appeal it had and would exclaim "Phew what a view"!!
Yea Rick, great story....what's your point?
My point is that curb appeal is a MUST if you want to entice people to buy your home. Never mind the actual view from the road when you pull up to the house, but keep in mind.....the INTERNET.
The internet? What does that have to do with curb appeal? Close to 90% of home buyers search for their home on-line, and what do they look at while searching? Pictures of your home taken by your Realtor and published to the MLS. If the pictures don't show strong curb appeal your home will not receive the amount of traffic necessary to sell in a timely and profitable manner in this environment.
You see it all the time. The neighbor who....out of nowhere, starts planting flowers, pressure cleaning his roof, painting his exterior, trimming trees, etc.
What do you generally ask him?
"Selling"?
And generally the answer is yes.
Why people wait until they are ready to sell to maintain their property is beyond me, but again - it is what it is - and at least these sellers get it- BUYERS WANT VALUE!! A great way to show value is to have a manicured property which anyone (including yourself) will enjoy to walk up to.
Maximize your curb appeal and you WILL maximize your sales price....promise.
4. Who took that picture?
Nothing makes me question an agents professionalism more then bad photos of a listed home. If your agent shot your home in less then 30 minutes....the pictures aren't good enough!!
Again, back to that wonderful network of computers called.....the INTERNET. Buyers are previewing your home on line before they even think about going to see it in person. If a single guy or girl joins a dating site what do they generally do? Scour for hours for the best possible photo(s) they can find of themselves to place in their profile, why? Because they are "selling" themselves on-line!!! (don't take that the wrong way, no hate mail please)
When some, but definitely not all, agents take and post pictures of their new listings they neglect to give the process the importance it deserves. I've seen pictures of toilet bowels, cats (yes literally a picture of a cat, nothing about the house, just a cat), dirty dish filled sinks, etc. I could post pictures but will save the embarrassment for those at fault.
Make sure your agent takes your pictures with care - realize the importance they serve in the home selling process. You don't have to expect your agent to be Ansel Adams, just be sure they give it their best shot. And if something is in the picture that shouldn't be......just move it!!
5. I want a Hamburger, no I want a Hot Dog.....
Buyers know fully at this point that they are in control, we as sellers can either fight this new reality or cope with it and cooperate. I like the old credo "If you can't beat 'em.... join 'em" and to sell in this market, you should like it to!
Buyers are picky today, so much so that they can often confuse themselves with what their true wants and needs are in a home. To combat this indecision sellers can and should offer prospective buyers of their home some sort of incentive. Have a home priced perfectly for an FHA buyer? Offer to pay closing costs. Have a great home on the intracoastal? Throw in a Jet-Ski. Selling a home with older appliances? Offer buyers a two year paid warranty....
There are a ton of incentives you can offer, and the great thing is that it's totally up to you and only limited by your creativity!! Listen to what buyers say when they preview your home, or ask your agent for feedback after they show your home. Do buyers keep complaining about the worn out carpet in the bedroom? Replace it!! Or offer a credit at closing to do so... These small incentives will add up to a faster and more profitable sale in your near future.....promise ;)
Selling in today's market is a challenge, accept the challenge and move forward!!!!
For more info on selling in this market or anything Real Estate related please do not hesitate to contact me at rick@rickrapp.com
Rick Rapp
"Real Estate Done Right"
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