If you have decided it’s time to sell and you are looking for advice on what to do with your property, I’ve included some ideas for your consideration and hope you find them helpful. When you hire me as your Realtor, my experience will be your advantage as you move on to the next stage of your life.
One of the most important qualities I look for when hiring a professional to represent my interests is their level of experience. Other qualities I look for include an ability to communicate a process to me so I know what to expect. And I always look for someone who has the skill to get the job done. I expect you feel the same way.
An important part of my business is making sure I understand my client’s goals. I’ve found the best way to accomplish this is by taking the time to listen to their plans and what they want to accomplish. Equally important is this provides my clients with the opportunity to get to know me, my values and see how my 20 years of residential real estate and construction experience can help them.
Once I understand your goals, my challenge is recommending a course of action to realize them. A big part of realizing any goal is an investment of time. The time spent working together provides us with a solid foundation to navigate through the processes of preparing, pricing, marketing, and selling your home. My goal is to review the processes with you to ensure we have a mutual understanding on what to expect and what we should be prepared to overcome.
Preparing: Evaluate and Recommend
What can I do to make sure you get the highest possible price in the shortest time possible? I will begin by evaluating your home to see if any finish updates, maintenance or insurance mitigation work should be completed prior to listing it. It’s true: buyers want to purchase homes that need very little or no work. They are willing to pay more for a home when updates are already in place as they can finance them into the purchase. This benefits them in two ways: they better leverage their mortgage down payment and they don’t have to complete the work! Consider this: how many buyers have the resources to make a 20% down payment and then invest $40K to $50K worth of updates into the kitchen, baths, flooring and painting?
Next, we will look at recent sales of comparable homes to see what the updated and non-updated homes have sold for. If the return on investment looks favorable to you and you are able to accept a little dust in your daily routine, I can help you arrange for the updates to maximize your sales price. I can help you define the work, select contractors and make recommendations for the new finish selections that have broad buyer appeal. This is a key difference where my residential construction experience benefits my clients and puts more money in their pocket.
The Emotions of Selling…
Most of us grow fond of where we live – we love our homes! We become attached to them; we’ve invested a lot of time and treasure into them. They are full of memories…but keep this point in mind: it’s not going to be your home after you sell it. The selling process will be much easier if you adjust to this reality earlier in the process instead of when you drive away behind the moving truck.
I urge my clients to adopt the mindset that you have a product to sell – and you want to sell that product for the highest price. Conversely, being mindful that buyers wants to buy it for the lowest price they can. We want to prepare your home to appeal to as many creditworthy buyers as possible with the goal of getting more than one offer. That’s how you’ll get the highest possible price in the shortest time possible.
Pricing: Price absolutely matters…
One of the most challenging approaches to setting an initial listing price is when one chooses to ignore the data on recent comparable sales and instead go with an emotional approach. “We can always come down in price later!” I understand this approach is popular because it seems harmless enough, right? Please, read on…
The United States economy is the largest in the world. We enjoy spending the money we earn and are subjected to a culture of consumerism via advertising in many forms: television, billboards, magazines, Internet pop-up ads, etc. We are now tracked online after shopping at a website with reminders of the products and incentives offered like free shipping to get us to purchase. We are educated, savvy shoppers and value is important. We decide to purchase when we see the value in a product and believe it’s worth the price.
Advertising themes appeal to (1) the price conscious buyer or (2) the luxury buyer. I’m not writing about the luxury buyer…
Have you ever purchased a product on the Internet? You researched and found it offered for sale by several companies with different prices? And when you bought it, instead of choosing the lowest price you decided the pay the price that was two prices higher than the lowest price? I know, that didn’t make sense…of course you didn’t, right? With all things considered, we will probably select what we subjectively believe is the best price or the best value. We will wait patiently until the best price or the best deal is offered, then make our purchase.
All major supermarkets have store brands priced less than the nationally advertised brands. Offering comparable quality, many consumers purchase them. Why pay more for essentially the same product? Many will choose to pay $0.68 vs. $0.88 to save $0.20 on a can of beans. Why do we think buyers will act any different with their home purchase when it can save them $5,000 to $10,000?
When you sell your home (or anything, really) it’s not a good idea to ignore the buyer’s sensitivity to price.
It is my mission to get you the highest possible price for your home and it requires more than getting you to like me enough to allow me to place a sign in your front yard. It takes a thorough review of these factors and I have the skill set to help you .
It requires us to:
- Study recent comparable sales and understand whether the market price is trending up or is it flat?
- Study the current demand and the factors causing the demand, i.e., job growth or companies closing? Is the demand seasonal? If so, when is the best time of the year to sell?
- What updates can be done to increase the sales price considering the time and investment (and sometimes the inconvenience) to do the work. Is it a good return on your time and money?
- Review the results of my Comparative Market Analysis.
- Order an appraisal, especially when there are not enough comparable sales, to get an independent opinion of what your home is likely to sell for. It’s a good source of information to help us list the home at a price we are confident is not too high or too low. Although I ask you to pay the appraisal fee upfront, I will reimburse you for its cost at closing. Keep in mind, we will not blindly accept the value listed in the appraisal – we will review and question it and make sure we understand the results or we will get back to the appraiser. An appraisal is critical when there are several stakeholders in order to mitigate their concern of how a listing price was established.
Marketing: Good photos are very important!
The marketing of your home is paramount. I include the following features to ensure your home is promoted in the most professional manner to increase buyer interest resulting in more showings and more offers to purchase. My marketing plan includes:
- Professional Photography
- Professional Brochures
- Virtual Tour
- Miniature Floor Plan
- Open House
Photographs are always on the priority list for buyers. They expect want a lot of them and they must be done properly. That’s why I include professional photos! I will place professional brochures and a mini floor plan in your home for buyer prospects. I will personally host at least one open house. I will write a narrative describing your home’s lifestyle features which is incorporated into your listing placed into our local Multiple Listing Service (MLS). As part of our local MLS, your home’s information is syndicated to over 40 websites for amazing coverage!
After your home is on the market I will provide you with agent and buyer showing feedback on a regular basis. We can discuss any limitations you wish to have on showing times but I typically suggest the home be available between 10:00am to 4:00 pm Monday through Saturday and on Sunday by appointment only.
Getting through the inspections…
I will be present for the home inspection as your advocate. My experience in home construction will help during the inspection when you need an expert advising you – the buyer has the home inspector working for them!
When you hire Jeff to sell your home, you’ll work directly with Jeff! I stay in communication with you from the beginning to closing – and beyond. I can be reached via my office phone, cell phone, email or by text. The best part of my job is seeing the clients I’ve gotten to know on a personal basis move on to the next stage of their life – having earned their business and their trust.
Let’s set up a time to get together. Give me a call so we can set up a time to meet – there is no cost or obligation.
Contact me directly when you’re ready to set up an appointment to discuss your plans. Thank you!
P.S. If you are not sure when you will need the help of a Realtor I would be more than happy to meet with you at my office to discuss a long term strategy you can consider so when the time is right – you will be prepared!