Our team specializes in real estate marketing. We formulate a custom marketing strategy for each listing, we help the owner stage the home for buyers, we take great photos and video, hold open houses and market the home heavily online. We work hard to make sure our listings are in front of as many qualified buyers as possible.
Despite all of this, there is one major mistake that sellers often make that can make even the best marketing plan ineffective. The Most Important Marketing Tool for Selling Your Home; Your Home’s Value Proposition.
When we work with buyers, we tell them there are three things that determine a homes value. Price, Location and Condition. Typically they get to pick two out of the three. If the home is in a good location, and the condition is excellent, typically the price will be higher. If the Price is competitive, and the location is good, then the condition is probably not the best. You will remember when the market was depreciating, the homes that were selling quickly were the homes that were priced the most competitively, condition was practically ignored.
We tell our buyers if they find a home that has all three factors, they better hurry up and make an offer!
When you are selling, we need to determine which two (or even three!) factors can be promoted. Let’s say your home is in excellent condition, but it backs up to a very busy and noisy road. We can use the condition as a selling point, but we can’t use location, so we need to make sure that the price is a selling point and price the home competitively so that a buyer will be able to overlook the location.
Maybe your Location is fine. And you want to get the best market Price possible for your home. Then you have to focus on the Condition. Most buyers want a home that they can move right into with little work on their part. They are attracted to things like granite counter tops and stainless steel appliances and other updated. You will want to make sure that all deferred maintenance items are taken care of, and we will work with you and give you tips to stage the home and make sure it shows at it’s best.
Since location cannot be changed, the most successful strategy in an appreciating market, is to price the home “at the market” (indicated by past sales), and make sure the home is in excellent condition. This, combined with a strong marketing plan, often will result in multiple offers and buyers competing to buy your home.
Contact us today for a consultation and we will work together to determine the best strategy for selling your home.