Knowing The Local Market
The real estate market continually changes. We go through periods of a great seller’s market and then it shifts to a balanced market or possibly to a buyer’s market. One thing is for sure though, no matter what is going on with the market….there is a correct way to get your home sold and for the best price! These 3 keys are Price, Presentation and Marketing. When these are carefully thought through and executed well, they will guarantee the sale of your home. Having a Realtor® who truly knows the local market makes a HUGE difference on the information you are provided with. You need the truth about your local market so you can best position yourself for success.
First Key – Price
The first key is definitely PRICE. Setting a price for the home to be sold really sets the trajectory of how the entire process will unfold. When determining a pricing for a home, all factors need to be considered. First, LOCATION, plays a very big part. Location initially is taken into account when coming to a price range along with the comparables in the area. Asking $750,000 for a home in an area where the homes generally go out at $575,000 is not a realistic approach. The area (location) doesn’t warrant that price. So between the comps and the current market conditions and inventory, these will help determine a healthy price range for your home.
Second Key – Presentation
This leads me to PRESENTATION. How your home is presented to potential buyers is the second, very crucial key, to getting your home sold. Having a clean home, neutral colors on the walls, and at least partially staged, helps the buyer to see themselves in the home. HOME STAGING truly makes a huge difference in the appeal of the home to buyers. Staging shows the best of the home, bringing out the beauty and showcasing it to the buyers. It also makes the professional photography and videos look amazing when your home is presented online, which is where buyers will many times initially first see the listing. Many buyers are initially shopping on sites like Zillow, Redfin and Realtor.com., to name a few. That is why the presentation is so crucial. It’s the first impression.
Third Key – Marketing
The last key is MARKETING. Real estate is not sold by an agent by just simply putting a sign in the ground and placing it on MLS. That is the start, but certainly not the finish. It’s getting the maximum exposure of your home. Notifying the neighbors, Broker tours and Open Houses all provide great exposure of the listing. Above this is SOCIAL MEDIA marketing. Social Media is one of the best platforms allowing for maximum exposure to a much larger audience. Zillow, Redfin and Realtor.com are all part of social media as is Facebook and Instagram and Linkedin are. Many times, demographics can be targeted so your property gets in front of the right audience. The more exposure the home receives, the more opportunities for potential buyers to know its available.
These 3 keys I have mentioned are really crucial to getting the sale of your home done so you can achieve the highest and best results. When these are done correctly, your home will sell quickly and for the best price!
Should you be interested in selling your home, please contact me to help you achieve the very best results for you!
Holly Young – Vanguard Properties