Location, location, location—that’s the mantra in real estate. If you’ve got a stellar location, you’re set for success. But if your location isn’t the best or comes with its challenges, you could dive deep into highlighting the unique benefits your property offers. Whether it’s proximity to great schools, local shops, or hidden gems in the neighborhood, you’ll want to showcase why your location can be a great place to call home.

While you cannot change the location of your property, you can strategically market its unique attributes and highlight the benefits it offers, ensuring it stands out in the market.

When selling your home, remember: how you live in it and how you stage it for sale can be worlds apart. Here’s how to make your home irresistible:

1. **De-personalize**: Let buyers envision their life in your space, not yours. Remove personal items so they can see themselves, not you, in the home.

2. **De-clutter**: Clear countertops, shelves, and spaces to make rooms feel larger and more inviting. Clutter shrinks your home in the eyes of the buyer.

3. **Neutralize**: Ever notice how model homes are painted in neutral tones? It’s because they sell on emotion. Bold colors might not appeal to everyone, potentially turning away 80% of buyers who prefer move-in ready homes.

Ask yourself:

– Have I made my home as visually appealing as possible to create that “WOW” factor?
– Have I tackled all visible issues to ensure the house looks its best?

You control the presentation quality, making your home not just a house, but a potential new home for someone else.

Pricing your home right is an art and a science. While no one can predict the exact sale price, there are effective strategies to gauge what the market will bear:

Many sellers make the mistake of only looking at past sales in their neighborhood. This approach misses the bigger picture. It doesn’t account for current market dynamics – how many buyers are out there (demand) and what other homes are competing with yours (supply).

Start your pricing strategy by analyzing the effective balance between demand and supply.

When you’re doing a Comparative Market Analysis (CMA), it’s tempting to just look at what’s sold, but there are actually six categories you should really pay attention to:

1. **Active** – These are the homes you see for sale right now. Some might be hot off the market, while others have been sitting there, maybe because they’re overpriced. This group is your direct competition. Take a good look at what makes these homes more or less attractive than yours. What can you do to stand out in terms of price, value, and condition?

2. **Contingent** – These properties have offers but with strings attached, like inspections or financing that need to be sorted out. You might not know the final sale price until everything’s done, which can make it tough to use these as comparables.

3. **Pending** – Here, all the conditions have been met, and the sale is just waiting to close. Again, the exact price isn’t usually public yet, but these can give you an idea of market direction.

4. **Sold** – These are the winners in your CMA. They give you the most reliable information because they show exactly what buyers have been willing to pay. Dive deep here to understand what you might expect when selling your home.

5. **Expired** – These listings are the ones that didn’t make the cut before their listing period ended. They were likely priced too high for what the market was willing to bear. Use these as a cautionary tale for pricing your own home.

6. **Withdrawn** – These properties didn’t even wait until the end of their listing period; they were pulled off the market due to no interest. It’s a signal that the market didn’t see value in them at their listed price.

By considering all these categories, you’ll get a much fuller picture of the real estate market, helping you set a smart, competitive price for your home.

The most frequent error home sellers make is attempting to ‘test the waters’ by setting an initially high price, only to lower it weeks later if the home doesn’t sell, which backfires as illustrated by the chart. The most critical time in marketing your house is the first 30 days because this is when buyers who have been actively searching will evaluate your home to decide if it offers good value. These are the buyers who are ready to place an offer on your home and compete with others on price.

Moreover, overpricing from the start can lead to less money in your pocket because the longer your home remains unsold, the more it becomes overlooked by newer properties. Potential new buyers might question why it has been on the market for so long and start bargaining, even after you reduce the price. You might end up selling for below market value. Remember, a house can develop a reputation quickly, so don’t let your listing linger too long.

1. Tax Assessment

The tax assessment value has nothing to do with the actual value of your home. It is based on the standards set by your local tax assessor’s office. They don’t keep up with current real estate market trends.

2. Appraised Value

The appraised value is still very important. If the appraised value is lower than the true market value, you will more than likely have to adjust your price down to the appraised value in order to close, unless the buyer is paying cash and is not getting an appraisal. Banks rely heavily on the appraised value of a property.

3. True Market Value

No one, not even a REALTOR, neighbor, friend, family member, or tax assessor, can tell you what the true market value of your home is unless they are actually backing their price up by putting down their own money to buy your property.

You have significant influence over how your home is priced, but it’s essential to align that price with current market conditions, comparable sales, and buyer expectations to ensure a successful sale.

When you list your home with a REALTOR®, you can increase your buying pool by up to 5 times. Your listing will be marketed on premier websites like MLS, Zillow, and Realtor.com, reaching buyers and agents both locally and globally. Your agent should:

– Possess strategic market analysis and pricing expertise to ensure your home is priced competitively yet attractively.

– Ensure listings are placed on top real estate platforms for maximum exposure to potential buyers.

– Leverage maximum exposure through targeted social media ads, local print features, and global real estate networks to showcase your property to a diverse audience.

An agent with a proven track record can elevate your home’s visibility in the market, thereby increasing buyer demand.

1. Create Awareness of Your Property for Sale

Your agent must effectively market your home using high-impact methods like:

– Utilizing marketing channels such as the Real Estate Agent Community, the Internet, and On-site Signage, which collectively account for 93% of home sales. Exercise caution with agents who allocate significant resources to less impactful methods like homes magazines or newspaper ads, which together only contribute 1% to sales.

– Engaging in proactive neighborhood outreach by calling people and knocking on doors around your neighborhood to spread the word about your property, thereby creating both exposure and a sense of competition among potential buyers.

2. Enhance Strategic Staging For Visual Appeal

Skilled agents ensure your home is meticulously prepared for photography, guaranteeing that online listings make a stellar first impression with professional photography.

Your agent should be hands-on, managing the scene before, during, and after the photoshoot to ensure your home is presented in the best possible light, appealing directly to potential buyers.

A proactive agent will offer or recommend staging services, suggesting adjustments like moving furniture or smaller items for optimal presentation. They should also advise on professional staging, deep cleaning, and cosmetic repairs to foster a strong connection with buyers, thus aiming to increase your ROI and expedite the sale process.

3. Highlight the Unique Value Your Home Brings to the Market

Your agent should highlight the unique value of your home by educating buyers and industry professionals about why it’s the best choice. This involves conducting a detailed market analysis to position your home as superior compared to competitors. The goal is to ensure that everyone understands the distinct advantages your property offers.

Furthermore, your agent must focus on accurate pricing to maximize returns. This means analyzing local supply versus demand, determining a value range based on comparable sales, and strategically positioning your home’s price within that range to outshine the competition. This careful pricing strategy not only attracts potential buyers but also ensures that your home appraises well, protecting your investment.

4. Defend Your Equity

From day one, your agent should act as the primary defender of your home’s equity, showcasing strong negotiation skills to ensure you get the best deal.

5. Weekly Market Performance Analysis

Don’t just list your home; your agent should evaluate weekly performance against competitors, adjust marketing, presentation, and pricing strategies based on real-time data and feedback, and monitor market shifts by analyzing buyer traffic:

– High showings, no offers: Price might be 2-4% above market willingness.

– Low showings, no offers: Price could be 5-10% too high.

– Only drive-bys: Price might be 10% or more above what buyers are willing to pay, potentially prolonging sale time unless appreciation catches up.

If no offers come in, this might signal that the price is deterring buyers, pushing them towards other listings. Your agent should be committed to honest and transparent communication, informing you when a price adjustment is advisable. While you have the final say on pricing, your agent’s aim is to help you move to your next chapter efficiently.

6. Honest and Transparent Communication

The best agents tell you what you need to hear, not just what you want to hear:

– Before hiring, look for realistic expectations about market pricing.

– Post-hiring, discuss issues like presentation or pricing adjustments openly.

– Track record is key; an agent who consistently sells homes faster and for more money than average is likely providing truthful advice.

Ensure your real estate agent excels in these areas to maximize your home’s selling potential in the market.

Q: Why should we list our home for sale with you?

A: Our reputation for securing top dollar for homes quickly and with fewer hassles is well-established. Our marketing strategy is unparalleled, involving dynamic pricing where we adjust based on real-time market data to optimize both visibility and speed of sale. Additionally, we leverage comprehensive online exposure through advanced SEO and market analysis, ensuring your home gets seen by the right buyers swiftly.

Q: I heard there are limited-service agents who charge less. Why shouldn’t I hire the cheapest agent?

A: Selling your home isn’t just about getting it sold; it’s about maximizing your return. If your home’s price were consistent regardless of who lists it, selling it yourself might be the best option. But here’s the reality: we consistently sell homes for more money due to our expertise in pricing strategies and market analysis, even before considering comparable sales.

Our approach goes beyond basic listing; we excel at generating significant interest and exposure for your property. We don’t rush you into decisions; our team presents offers, ensuring you’re not pressured by other agents, especially in a bidding scenario where we’ve secured significantly higher prices for sellers.

Unlike agents desperate for any deal, our established client base means we negotiate with your best interest at heart, not just to close a sale. If an offer isn’t in your favor, we’ll be transparent about it.

Choosing a less expensive agent could cost you more in the long run due to lower sale prices and less effective negotiation. With us, you get a team dedicated to securing the best possible outcome for your home sale.

Q: How will you market my home?

A: Our approach to marketing your home ensures comprehensive exposure. With a strong digital presence, your home will be listed on top sites like Realtor.com, Zillow, Google, and more, reaching over 90% of homebuyers online. We complement this with traditional marketing methods, including signs, mailings, and leveraging extensive agent networks for broad visibility. Additionally, listing your home on the MLS is crucial as it’s essential for tapping into the vast agent buyer base.

Q: Should I pick an “area specialist” to sell my home?

A: Some agents specialize in one specific geographic area or neighborhood. However, buyers come from all across the region and country, not just from that particular locale. Therefore, an “area specialist” often just means they are a prominent listing agent in that area. In the past, real estate companies primarily focused on specific regions or neighborhoods, but the advent of computers, the internet, and mobile technology has transformed this aspect of the industry. Today, the important factors in choosing an agent are their experience, track record, and marketing capabilities. 

Q: What are the advantages of hiring the Erickson & Quach Team over an independent agent?

A: There are significant advantages to choosing our team:

Specialized Expertise: Real estate involves numerous tasks, each requiring different skills. An agent might excel in finding, selecting, and negotiating a home purchase, but might not be as adept at the meticulous follow-up needed to navigate from contract to closing. At the Erickson & Quach Team, we ensure that every aspect of your transaction is handled by two agents instead of one.

Constant Availability: Our support is always on hand. This means your questions can be answered promptly, without the wait often associated with independent agents. Plus, even after hours and on weekends, you can reach us for any information you need.

Q: After reviewing your Listing package, what’s next?

A: We’ll arrange a visit to assess your home, discuss market trends, and optimize your listing for maximum appeal.

Q: How long does it take to get my home on the market?

A: With a signed agreement and access to your property, we can ensure a 48-hour launch, provided your home is presentation-ready. This allows us to prepare all marketing materials for an impactful debut. If further preparation is required, the timeline may extend. By choosing us, you benefit from our extensive marketing expertise, deep market insights, and collaborative team approach to deliver an optimal home-selling experience.