1. Design a solid, written marketing plan.
It would be great if all you had to do was put a property in the MLS, hang up a sign and it would sell fast at the best price – often with multiple offers! Today, it’s more complicated to close a real estate transaction. My powerful 7-stage Home Market Plan covers every step needed to successfully sell your home for the best price, quickly and close it on time.
2. Stay on top of the market.
The real estate market is always changing and you must keep up with it. Each day new homes come on the market, listings expire and homes sell. As part of my powerful 7-stage Home Market Plan, I prepare a new market report every week and review it with you. We discuss specific adjustments to be made. It may involve pricing – often it does not.
3. Make all known repairs.
Buyers can “feel” when a home has deferred maintenance. And, who wants to take on somebody else’s maintenance problems? Your buyer is going to have a home inspection. So, it’s wise to take care of the repairs right up front and build the buyer’s confidence with a clean report.
4. Use high quality marketing materials.
What kind of marketing materials will be used to present your home? Most agents are on a tight budget and their sellers often get short-changed. They take amateur photos, don’t create virtual tours, have a weak Internet presence and use cheap property brochures. I use a professional photographer for every listing, the Internet presence is world-class and dramatic 1 or 2-page color property brochures are created for each listing.
5. Create a powerful Internet presence.
When it comes to selling real estate, the Internet is everything – more than 80% of home buyers search the Internet for their new home. Your home will be posted on our company website and Facebook page. It will also be entered into the Multiple Listing Service which feeds into other websites such as Realtor.com, Zillow, and Trulia. I will also create a private web site that includes specific details, special features, photo gallery, and a map.
6. Make your home easy to show.
There’s a real estate saying “If you can’t show it, you can’t sell it.” The message is clear – the more a home is shown, the more likely it will sell quickly for the best price. I’ll make your home easy to show by installing a high-security lock box or by setting up another system. I promise to be available or have a trusted team member available on short notice to personally show listings with special showing requirements.
7. Do open houses selectively?
Statistics show that less than two percent of homes sell from “open houses. However, for certain properties in popular locations, open houses are a way to get a lot of people through your property. If you are going to have an “open house,” Sunday is the best day and it’s smart to have it adequately manned for security purposes. Also, it’s a good idea to have everyone register in a guest book.
8. If your home is not selling – reduce the price.
Suggesting a price reduction is the least favorite part of my job. But, it’s often the most important. If your home is priced right, it will sell. The problem is that most real estate agents are not confident talking about price. Our company has been through many real estate cycles and know how to analyze the market, how to keep my clients informed and when to recommend a price reduction.
9. Carefully analyze potential buyers.
Buyers often take their time looking at all the homes for sale and frequently change their mind. They may walk away from counter offers, cancel escrows for no reason and waste everybody’s time. Choose a real estate consultant with the experience to help you carefully evaluate potential buyers before signing a purchase agreement.
10. Don’t ever take a contingent offer.
Less experienced real estate agents may encourage you to accept a contingent offer, which essentially takes your home off the market until the buyer’s home sells. There is always another way to structure a contingent offer that will give you more control. For example: a delayed closing or a lease/option agreement are just two ways to work with a buyer before they sell their existing property.
11. Negotiate a solid purchase agreement.
A carefully crafted purchase agreement is the basis for a successful real estate transaction. It should properly reflect the obligations of the parties and not give the buyers an easy way out if they change their mind. The deposit should be large enough, all contingencies should be removed on time and the buyer’s funds must be verified. Many years of experience help me to draft the most thorough purchase agreements in the industry.
12. Manage your transaction perfectly.
After getting a purchase agreement signed, many agents turn over their files to a transaction coordinator, wait for the sale to close and collect their commission check. Some even charge an extra fee for this service! Managing a real estate transaction is one of the most important roles of a professional real estate consultant.
1. Design a solid, written marketing plan.