How To Sell A Home Faster
As a real estate agent, the amount of money you can make in a year is determined by the price of the homes you sell and the number of homes you can sell in a year. Being able to quickly sell a home not only reduces seller stress and increases their satisfaction, which will result in more referrals, but it allows you to move on to the next listing and focus 100% on your client.
Here are some tips to help you sell a house fast!
Some MLS platforms now allow you to mark a property as coming soon. If your MLS has this feature its a great way to stir up interest in your listing and allows potential buyers to plan their schedules for your open house.
Price it right
How many times have you been in this situation? Lets say your seller wants to list their home for $500k because Jenny from the block sold her house for $500k. But, you're a professional and you have done your homework. You looked at other homes that have sold and know they are in better condition with higher quality finishes than your clients home. You think the house should be listed at $450k. Its an uphill battle to convince the seller to list at a lower price, so in order to get the listing, you agree to list it at $500k. The house then sits on the market for months with only a few offers that are well below the list price.
Changing the mind of the seller can be a real challenge. Instead of simply trying to tell the client Jenny’s house is nicer than yours, which can be a difficult conversation to have, come armed with 3rd party information to make your case.
In addition to your usual methods of identifying comps, use Remodel It to compare the quality of your clients home to other homes in the neighborhood. Use this data to objectively show them Jenny’s house sold for more because its nicer. It has granite and stainless in the kitchen and hardwood floors throughout.
Naturally, this is also a great time to discuss potential renovations and how they can command a higher sales price if they complete some projects to improve the quality of their home. Take into account other local factors like school district and distance to important locations and you have the recipe for the perfect list price!
I'm amazed a how often I see poorly lit photos taken from uninspiring angles. Photos are the first thing a buyer sees and a 2020 National Association of Relators survey states that 90% of all buyers considered photos as the most important feature of a listing. It may seem cheaper and faster to take a few photos yourself but bad photos can keep would be buyers from scheduling a showing. It’s well worth the expense of a few hundred dollars for a professional photographer and is one of my top recommendations for real estate agents. If you don't have a go-to photographer, there are a number of on-demand services including #ProxyPics and #Snappr.
But before you have any photos taken, be sure to follow the tips below!
Talk to your seller about completing a few renovation projects. Not only will this will go a long way in quickly selling a home but you can command a higher sales price!
The biggest obstacle here is the unknown. Most homeowners simply don’t know what it costs to have their house repainted or to refinish the floors. By using Remodel It to estimate renovation costs and convince your seller to renovate, you can better service your client by utilizing the latest tools available AND sell for a higher price. This is a win-win all around!
Not only can you use Remodel It to instantly estimate renovation costs and show your client ballpark prices for these projects, but they can match with contractors to have the work completed quickly and on budget.
Declutter and Depersonalize
Potential buyers need to be able to visualize themselves and their families living in the home. Have the seller remove as many personal items as possible. Even if the seller doesn’t think they will be moving for several months, convince them to start packing now. If possible, have them store the packed items at a separate location like a friends or family’s house, or even rent a storage unit.
I cant tell you how many photos I’ve seen and open houses I have been to with messy houses. Please have the seller clean the house before pictures are taken or before you have an open house. This isn’t your average clean, this needs to be like a deep spring cleaning. And when I say cleaning, I mean inside and out. Cut the grass, pull weeds, rake the leaves, and even power wash if you can. Once a deep clean is done, it should be relatively easy to clean and landscape before each open house or showing. You may even want to consider hiring a cleaning company or landscaper to help.
These are just a few tips to help you sell more homes and break your personal number of sales record! In a later article we will discuss some financing and payment options you can present the client for those pre-sale renovations. So next time you have a listing that needs some work, impress your client with the latest technology available and pull up Remodel It!