While the real estate market in the United States has gone through its ups and downs, there are some rock solid fundamentals that will always be effective in selling a home.
Set a Good Price
It’s THE most important thing. Don’t be your own worst enemy and get greedy. Wishing for a certain price doesn’t sell the home. The market is what it is.
“Every home has a price,” explains Joseph Ho, a commercial and residential real estate agent of 25 years. “The hard part is finding that price, and for the seller to accept what that price is. The biggest mistake sellers make in an adjusting market is that they price (their home) according to what the market was, not what it is.”
Hire a Good Realtor
Hiring a good professional real estate agent will take care of everything on this list. They will tell you what a good price is, how they’ll market it, how to increase curb appeal and what type of staging is needed.
“Agents are held to a higher standard,” proclaims Sue Brodie, Prudential NW Realty’s VP and Managing Broker. “Hiring a Realtor connects you instantly to a network of other agents who have buyers. Hiring a good Realtor will get the home exposed to potentially thousands of people who are looking to buy.”
Ho adds,” There are people out there looking for the ‘For Sale By Owner’ homes, those people are looking for a steal and you will get low balled. First off the bat, (money) is coming off the top. It’s not worth it.”
Exposure/marketing is everything and works hand in hand with hiring an agent. The more the property is seen, the better chance to sell the home. People have to know the house is on the market, and the realtor does exactly that.
“The most important thing is getting the home exposed to qualified (lender approved) buyers,” suggests Ho. “That’s what the MLS (Multiple Listing Service) does, it’s not a public site. It gets the homes connected with other realtors who have qualified buyers.”
Brodie adds, “The power of the group in the MLS is extreme exposure. There’s nothing better.”
Curb appeal is much like window shopping. If the home looks good when driving by, people will go in and look at it. If it doesn’t, it wastes everyone’s time and the buyers don’t even get out of the car.
“It’s the lipstick on the pig,” explains Brodie. “Curb appeal is very much like the first impression. It makes them want to go in.”
“It also tells something about the seller,” suggests Ann Hilario, a fine homes specialist in the Seattle area. “If there’s good curb appeal, in the buyers’ eyes, the home was well maintained.”
Professionally Stage the Home
Staging is good salesmanship where the home doesn’t look empty. A professional staging company will give the home the extra edge by organizing nice furniture and decorations, adding the wow factor.
“You’re making a particular product better than the rest,” explains Brodie. ”Good enough is no longer good enough. Professional staging will help you work the house.”
Hilario also adds, “You can’t ignore that your house needs help sometimes.”