Your home selling magic is grounded in four principles: condition, preparation, price, and marketing. I know that it doesn’t sound thrilling or magical. But if you focus on these four concepts, you’ll see how your home sale plan magically comes together.
The first principle of home selling magic is “condition.” It’s a fact that home buyers want a turn-key home, meaning they want to move into a new or updated home. If you’re like many home owners who has lived in their homes for many years, chances are that there is some deferred maintenance or systems needing updates. You can decide to forego repairs and updates and sell “as-is.” However, if you want to get top-dollar for your home or not, you will likely have to some make repairs. You’ll should calculate your return on the investment of repairs and updates to help decide which items to repair.
The next principle is “preparation.” After deciding on your home’s condition, you’ll have to prepare for the sale. The preparation includes the repairs and updates you decided on, as well as decluttering and home staging. Decluttering our homes is something we all put off because it can be monotonous. But when you’re selling a home, it’s absolutely necessary (regardless of the home’s condition). Planning the time spent each day to declutter will make it easier.
What about home staging? Home staging is more than just rearranging furniture and pictures. It’s actually a broad topic that includes repairs and decluttering. Since you’ve already decided on repairs and planned decluttering, your home staging focus should focus on the interior and exterior spaces. Consulting with a home stager or interior designer can give you insight on how to create a vision to attract home buyers. Home staging can be expensive if you’re doing a whole home makeover. But it doesn’t have to be expensive. You can keep costs in check by focusing on a few rooms.
“Pricing” is probably the most important of the four principles of home selling magic. Pricing your home correctly means the difference of selling your home quickly and having it languish on the MLS. Avoid the biggest mistake home sellers tend to make, which is over-pricing your home. Over-pricing makes it difficult to attract home buyers, as well as soliciting offers from agents. Make sure you get a detailed market analysis (CMA) of similar neighborhood homes. Be wary of agents who mislead by comparing your home to larger higher priced homes.
The final principle is “Marketing.” Marketing your home is making home selling magic work through promotion. The truth is that most home buyers start their home search online. Buyers will decide on the homes they want to visit through the photos and descriptions. To get high quality HD photos, make sure you hire an agent that works with a professional. Ensure your agent enters detailed and accurate information. Although the MLS syndicates information and photos across the internet, it’s not always presented completely. Have your agent rectify all errors that appear on home listing aggregate sites.
Open houses are an additional marketing tool that your agent should use. Although many agents will say that open houses aren’t effective, the truth is that it’s usually how home buyers first see your home. A final thought is to be wary of gimmicks and new technology, as many such devices are designed as a marketing pieces for real estate agents instead of selling your home.
By Dan Krell
Copyright © 2020
Original located at https://dankrell.com/blog/2020/11/20/home-selling-magic
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Disclaimer. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.
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