Despite what we may feel about the end of summer vacations and back-to-school vibe currently happening, there is no doubt that the Fall market is here. Agents are already seeing signs of increased inventory and eager buyers in many markets. While the days of pricing wars and houses being sold pre-list may be a thing of the past in your market – in others they are back in full force.
No matter what the season or the state of your local market, getting the most for your seller requires deft research, knowledge, and marketing. Nail down these 6 ways to leverage your resources and expertise to get top dollar for your seller.
1. Know Your Numbers
It’s more important than ever to price listings correctly so they hit the market with their best foot forward. The reality is that there will always be ebbs and flows in real estate. Seasonality plays a part, but it’s not the only factor to consider. Thorough market research is key to ensuring you are maximizing your seller’s financial investment. Get familiar with the recent sales, the days on market, and the competing inventory. The more data you have, the better you can effectively backup your price in negotiations.
2. Measure Up
Real estate search portals are getting increasingly competitive for buyer’s attention and are adding extra features and stats to help potential homeowners compare and contrast each listing. One such stat that never fails to gain attention is the price per square foot. Pricing based on square footage puts each property on an even playing field and shows the true value of every inch of space. You can leverage this by getting your listing measured by professionals. This way you know exactly what you’re offering compared to other listings in the neighbourhood.
3. Stage It
According to recent statistics, home staging can help reduce a property’s listing time on the market by 30-50% and could deliver a price that is 6-20% more than a vacant home or a home that is not properly staged. While staging can cost upwards of several thousand dollars, depending on the size of the home, it’s a worthwhile investment if it means a double-digit return. Can a property be sold without staging? Yes, absolutely. But will a professionally staged home capture more attention? Without a doubt.
4. Worth a Thousand Words
Investing in professional photography for your listing is not an option – it’s a must. According to this study, 9 out of 10 buyers are searching for homes online before contacting an agent or viewing homes in person. Of those, a majority said that photos and virtual tours are the most important tool available when searching for properties. Interactive online showing experiences are no longer reserved just for luxury properties. Buyers in all price points expect to be able to view floor plans and walk through the home through 3D virtual tours. If you want to get top dollar for your sellers and get the most buyers to pay attention to your listings, trust a pro to take the supply the visuals.
5. Get Social
Other than real estate portals, social media is arguably the most effective way to get your listings in front of potential buyers. The more eyeballs you attract, the better. Using social media effectively is key. Rather than posting once and sharing it to every site, take the time to format your content for each individual site or platform, using the right hashtags to maximize your reach and engagement. Be strategic; it’s not about the quantity of posts, it’s about quality and format. Use visuals and video to capture attention and interest.
6. Toolbelts On. Ready? Go
Listing in a highly competitive market? Save buyers a step and instill confidence up front by providing a pre-inspection or pre-appraisal, a list of necessary repairs and local contractors that can help them. It goes without saying that most buyers are looking for a move-in ready home. Paint in need of a touch-up, window screens missing or ripped, loose drawer pulls – even minor details can make a buyer pause or deduct from their offer price. Every little bit of effort made now will go a long way with buyers.
“The best investment on earth is earth.” – Louis Glickman
Always remember that this is your seller’s largest financial investment. No matter the market – using these tips and strategies will help you to protect their interests and maximize their profit.