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Its my business to handle the details. When listing a home, my goal is to devise a selling strategy in partnership with my Clients, to sell their home quickly and for as close to the asking price as possible. Excessive time on the market adds unnecessary stress to the selling process and often results in a home selling for less than its true value. Homes sell for many reasons, but homes FAIL TO SELL for 3 reasons:
1) Condition
When you place your home on the market it ceases to be your home, and becomes a Product for consumers. This can be a difficult transition for many people. The condition your live in is different from the condition you sell in. Imagine going to a hotel and finding toothpaste in the sink, an unmade bed, stained carpeting, and holes in the walls– you probably would not stay. This is the same mentality a Buyer has when they walk into a home. A Buyer is searching for their future home and trying to picture themselves living there, so remove everything which spoils that fantasy. Staging a home includes:
· Completing all deferred maintenance– show Buyers the home has been well cared for by completing any household repairs. This will make your home look like a better value for the price. Buyers always remember maintenance issues that may cost them time and money in the future, should they wish to purchase your home and this is not the lasting impression you want them to leave with.
· CLEAN CLEAN CLEAN– from the tops of the fan blades to the floors. Consider hiring professionals to clean carpets and power wash the exterior. A spotless home is more inviting to Buyers, and allows them to move beyond seeing your belongings and visualize themselves living there.
· Remover the clutter– many people have trouble determining clutter. As a general rule if it is not necessary to defining a room’s function or purpose, or if it is not aesthetically pleasing– store it. Common culprits are hampers, toys, cat boxes, appliances on kitchen counters, stacks of mail, virtually all things on coffee tables, entry tables, dresser tops, bathroom counters, tub rims, or on the floor.
· Remove personal items– this is probably the hardest to do, because these items are the ones you want to pack least and must pack first. Take down the family photos, anything on the fridge door, and pack keep-sake collections from shelves. Buyers should be looking at the home, not your stuff. If you feel your walls have become a bit bare, replace the personal photos in those frames with artistic photos of scenes from around the exterior of your home such as a black and white of your front door, a close up of the garden, or pictures of your home during the different seasons.
· Expand your space– remove most rugs, they make the floor area seem smaller and usually cover up hardwoods and tile, which are a major selling points with Buyers. If a room feels cramped, remove a piece or two of furniture. If this doesn’t work, or is impossible, try a new layout. Keep in mind you are not trying to achieve the most functional layout of your furniture, you are tying to show Buyer the qualities of your home which will make them want to make an offer.
Remember, these changes are only temporary. This is not remodeling to live, its staging to sell. If these staging tips seem cost or time prohibitive, consider this:
Although staging a home properly does not usually increase the actual value, it does increase its likelihood to sell quickly. How will it affect my future plans if my house does not sell? What would it cost me if my home was on the market for 6 months? For 12 months?
What is the cost of a storage unit, new carpet, paint, or a professional cleaning vs. the cost of giving a Buyer 1-6% in concessions for repairs? The general rule of thumb is for every $1 it will cost you to repair an existing feature, a buyer will ask for $5.
2) Price
There is a saying that, “Anything will sell for the right price”– and this is true, but this should never be the mindset of a good Agent. As your Agent, my responsibility is to do what is best for my Clients. This means developing a pricing strategy which meets my Client’s needs.
A proper Pricing Strategy is a combination of factors:
· Client Needs- I begin all Pricing Strategies with understanding my Clients. Pricing strategy will often depend on the reasons you are selling, your individual timetable, and your goals once your house has sold. Every situation is unique. An individualized strategy will guarantee you get the most out of the process.
· Thorough CMA- My clients deserve more than just a number. A Comparative Market Analysis should be the foundation of a proper Pricing Strategy. I want my Clients to understand where the price I arrive at comes from so we can make the best decision on what price is appropriate to list your home. Unlike many Agents, I believe in doing a full CMA, personally choosing the properties used in the analysis and comparing the features of your home to those of the comparable houses, to ensure the highest level of accuracy. An easy-to-understand Pricing Presentation is prepared for each client to keep and contains a detailed summary of each of the properties researched in the CMA and how their features compare to your home.
It will include:
- Any additions or subtractions made for each property when comparing its features to your home.
- Details from its time on the market. Such as how long the property was on the Market and its original listing price.
- The circumstances of its sale. Such as any Seller Assistance which was paid to the Buyer or if it was a Short Sale or Foreclosure.
- A list of homes which are currently on the market which your home is competing with. It is good to know what home have sold for, but also important to know what they are selling for.
Market Research– Sometimes it isn’t enough to simply use the information given in a listing when performing a CMA. There are many circumstances which can only be accounted for by personally visiting a comparable property such as the quality of lakeshore, view, the usability of land, and the aesthetics of the neighborhood surrounding the property. It is important to find an Agent who specializes in your area.
Often times a Seller will choose an Agent based on “the highest bid” or rather how high the Agent agrees to List the house at. While many Agents will offer to list a home at a greatly inflated price in order to secure a seller as a client, this often shows a lack of forethought on the part of the Agent and is not in the best interest of the clients. Overpricing a home will very rarely result in additional profit. For example:
In this example an Agent lists a home at a significantly higher price than the Market Value knowing the home is unlikely to sell, but assuming the seller will eventually agree to lower their price anyway. During the first few weeks our Example Home is on the Market it will receive the highest concentration of interest it is likely to receive. This is because all of the Buyers who were searching for a home similar to our Example Home before it was on the Market are now finding the home and wanting to see it. This results in months of “pent-up” interest all at one time. If our Example Home is not priced competitively, these Buyers will loose interest and continue their search elsewhere. Worse than this, are the large number of Buyers who will never even know the Example Home is for sale. Buyers will often search only to the tope of their budget or possibly slightly above. So a Buyer’s Agent or Buyer looking to spend a maximum of $275,000 may search up to $285,000. This means that our Example Home will not even come up as a possible match for this Buyer.
Now, our Example Home will attract some interest from Buyers looking to spend more, but these Buyers will be expecting the features of a more expensive home and also loose interest once they determine our Example Home will not meet their needs. As interest reaches a steady level and the Sellers are not receiving the results they need and expect they begin to agree to lower the price. By the time the Listing Price is reduced to the true Market Value of the home it has already spent 6 months on the Market leaving Potential Buyers wondering what is wrong with our Example Home. This also leaves the Sellers on less stable ground to negotiate since any Buyer will be aware of how long our Example Home has spent on the Market without it selling. Our Example Home does eventually sell, but it is for below its true Market Value and only after wasting almost 6 months of time and mortgage payments.
3) Marketing Let me show you how my marketing strategy works to
Reach the Most Potential Buyers
and how it can work for You.
Strong Web Marketing
Did you know 96% of people use the internet to find information on their home purchase and 32% found the home they purchased on the internet? Your home will be made viewable to over 61 million potential Buyers on hundreds of the most trafficked sites. ( National Association of REALTORS® Press in association with US Census Bureau)
Personal Property Website Your home will be given its own, searchable url. A Personal Property Website is made to showcase one and only one address and is the best way to promote your home online. Along with your Personal Property Website come some unique features:
Quality Print Advertisement
Comprehensive Brochure Packet Inside The average Buyer tours 15 homes before they decide to make their first offer. Your home’s full color Comprehensive Brochure Packet on premium paper will include not only an array of photos illustrating your home’s best features, but information on your neighborhood’s features, local NC School Report Cards, an area map, parks, and attractions. (HUD.GOV 100 Q&A)
Just Listed Cards
Market to the demographic that is most likely to buy your home. These direct mail post cards will help get the word out to your Friends and Neighbors that your home is for sale and will give them something tangible to give to their Friends and Family– your potential Buyers.
We work hard to attract the largest pool of potential Buyers.
Leading Real Estate Companies of the World
As an affiliate of the Leading Real Estate Companies of the World network, we are proud that our organization produced more home sales volume in 2010 than any national real estate network, nearly $225 billion representing 800,000 transactions. Those connections make us a national and global– not just local– real estate company working on your behalf.
  Relocation Division
We provide newcomers with all the tools necessary for a smooth transaction. Our relocation Specialists will send Buyers home listings (like yours) prior to their arrival. They also offer discount rates on car rentals, hotel accommodations, and household moving.
Property Management
Did you know that 41% of renters will buy when their lease has expired? Our Property Management Department boasts the largest selection of homes for rent in the area. This means numerous potential Buyers are more likely to see your home first! ( 2010 Fannie Mae Rent-Own Analysis)
The Tools, Skills, and Resources to Close the Deal
Allow Me to handle all the details: Insurance, Deeds, Surveys, Taxes, Title, Pro-Rations, Attorneys, Contracts, Mortgages, Inspections, and Negotiating Price and Repairs. One Goal, One Agent, One Agency
Benefit from listing with an Agent backed by an assembly of talented and professional peers. Your property will be featured on Lake Norman Realty’ Property Tour. My fellow agents will get a chance to Preview your home in person, become familiar with its features, and offer useful feedback to help sell your home quickly and closer to the asking price.
Its Qualified, not Quantity
Not all Buyers are created equal. So many purchase contracts fall through because the Buyer is unable to secure financing. Don’t let this happen to you. We can offer you and your potential Buyers the simplicity of a complete, one-stop, real estate transaction.
Mortgage - River Bank Mortgage
Excellent loan products and rates are available from our in-house mortgage company, Presidential Mortgage, River Bank Office.
Helping to pre-qualify Buyers, and providing Buyers with more financing options.
Insurance - Eagle Insurance Services, Inc.
Our in-house insurance agency allows us to offer excellent homeowner’s insurance rates to our clients.
Home Warranty - Home Trust Warranty
79% of Buyers rate home warranties as one of the most important considerations when buying. (Gallop Poll)
Home Warranties work for you before, during, and after the sale by selling your home faster, closer to the asking price, and eliminating post-sale disputes.
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