As homeowners, there are various ongoing costs such as taxes and mortgage payments.
Therefore, when the time comes to sell the home, time is valuable, and most homeowners need results promptly. Furthermore, there are techniques a realtor can utilize beyond putting the house on MLS to produce the best results.
Consider using an experienced agent with a plan of proven methods to attract buyers and maximize the sale price swiftly.
Pricing the Home is a Strategy
When selling property, homes must be priced properly. Therefore, consider an agent with a solid plan to get the home sold swiftly. The agent will discuss the “Comparative Market Analysis,” which consists of identifying recently sold comps. When running real estate comps, it’s suggested to find a home with similar square footage and features.
In addition, if possible, find homes within a quarter mile that sold within the last 180 days. Potential homebuyers don’t overpay unless the current real estate market is very competitive. Therefore, the comps don’t lie, and most of the time, if any house is priced correctly, it can sell.
Realtors use different pricing methods to draw attention. A common technique utilized is to price the property slightly under its true value, placing the term OBO, also known as or best offer in the listing description. The overall Intentions of requesting OBO are to cause a bidding war and essentially bring the sales price to the desired amount.
Another common method is necessary price cuts. If the property has numerous showings but little interest, it may be best to consider adjusting the price based on market feedback.
However, keep in mind that once a price is cut on a listing, it won’t present itself well to increase the price moving forward. Therefore, once the asking price is lowered, it’s difficult to get above the current asking amount.
Importance of Staging and Presentation in Real Estate
When a property is listed on the market, the way it shows is very important unless the home is listed as-is. Therefore, homeowners must prepare for the showings and sale by decluttering personal items and junk. Complete any possible repairs to make the home more presentable.
It’s suggested to depersonalize the home by removing family photos and potentially using a basic color paint, such as white paint. Consider using a staging company to increase the appeal of the property. A staging company can use furniture to hide defects or make the home more presentable.
A home staging company has the talent and ability to position furniture where a small bedroom looks larger. Adding tasteful, high-quality furnishings such as organic mattresses can also elevate the overall look and feel of the space, creating a sense of comfort and sophistication for potential buyers.
Additionally, consider cleaning up the exterior of the house and planting some flowers since the curb appeal is the first thing a potential buyer sees.
Professional Photography and Video Marketing
As we all know, first impressions are everything. Therefore, the buyer sees photos of the listing before even setting foot on the property. Hence, sellers should use professional photos for the listing.
Using high-quality images helps the property appear more presentable. Working with experts who offer professional real estate photography can significantly enhance how a property is showcased. They properly capture the lighting, angles, and key features in a way that appeals to potential buyers. Additionally, these pros can conduct a virtual tour, which highlights the property’s features. Some companies get creative, using techniques such as 3D walkthroughs, next-gen personalized videos, and even drone photographs.
These professional photos are a great way to draw attention. Therefore, the more potential buyers who view the home, the better the odds of getting the home sold fast for the highest value.
Benefits of Listing on MLS and Online Platforms
MLS stands for “Multiple Listing Services,” which is an online platform for buying and selling property. There are numerous MLS systems across the country and the world.
However, only licensed realtors have access to MLS. It’s important for your agent to be familiar with how MLS works and continue to check it daily for potential homes to buy or similar comps that just hit the market. Here are some benefits of listing on MLS:
- MLS sets a foundation for buyer reach, providing the ability to reach thousands of qualified agents with one listing uploaded.
- Links to Zillow, Redfin, and similar platforms. Therefore, buyers without agent representation can still access these real estate deals.
- On MLS, seller’s agents can disclose more detailed information about the property, so that no one has their time wasted.
- Overall credibility and trust. A buyer/seller agreement is signed, the agent is held to high standards, and a seller’s disclosure is addressed.
Social Media Marketing Works in the Real Estate Industry
Living in the age of technology, we either catch up and learn how to function or simply get left behind. If you’re agent doesn’t promote themselves and listings on social media, they’re missing out on a golden opportunity. Different social media platforms tailor to various generations; Instagram, TikTok, and YouTube are excellent platforms to reach the younger generation, especially potential renters and homebuyers.
Furthermore, Facebook tends to appeal to the older generations. However, the cost per click for social media ads is very reasonable and can reach a wide variety of individuals. In addition, an agent should consider email marketing campaigns to potential buyers to draw as much attention as possible.
Successful Agents Network and Build Connections
Most agents work in large offices with a variety of realtors. Therefore, at times, a property doesn’t always need to hit the market to sell. Your realtor can talk with and promote your property to buyer’s agents in-house, who may be working with a qualified and interested buyer.
A beneficial agent uses their network and referral partners to help produce quick results for their clients. Therefore, word of mouth tends to achieve the best results because the agent can vouch for and trust their co-worker since they’re under the same real estate broker.
Real Estate Agents have Negotiation Expertise
- Agents are trained on how to negotiate the best contract terms for their clients. Usually, as a seller’s agent, you look for the highest price along with the most appropriate terms. Terms such as having a buyer waive inspections or the seller offering seller’s concessions to lower the closing costs or repair costs.
- Counteroffer Strategies: Realtors learn how to strike a counteroffer that puts their clients’ wants and needs first. Whether it’s involving the sales prices or simply the contract terms.
Extra Value Added by Using a Realtor
- A seller’s agent can offer a pre-inspection report, which can minimize buyer concerns, along with taking much of the pre-sale pressure off the buyer’s shoulders.
- As mentioned above, offering seller assist or incentives to bring down the closing costs or down payment. Offering “seller assist” can attract a wide variety of buyers, including those coming to the table with cash or a traditional mortgage loan.
- Credibility: Agents are held to a code of ethics,which can provide peace of mind compared to using a cash buyer. Real estate consists of large transactions and potential fraud. Therefore, utilizing a licensed agent eliminates much of the concern, allowing the clients to place their trust in the agent they are working with.
Trustworthy Realtors Achieve the Best Results
If the time comes to sell a house, don’t leave money on the table. Therefore, consider using a licensed real estate agent, an individual with the knowledge and skill set to get a home sold quickly. Realtors use a combination of marketing, accurate pricing, and presentation to achieve the best results.
However, it’s vital to note that not all agents are equivalent, with some realtors having the ability to sell a house faster and for more money than a beginner realtor. Utilizing an agent is the most appropriate method to buy or sell a house; the fees and commission will easily cover themselves. Therefore, understand your home’s value and trust the licensed professional to get the home sold promptly.
