As an agent, you have many responsibilities when it comes to selling a listing. You have to be able to price, package, and position the listing so that you can sell the home quickly. That is exactly what real estate maverick Jim Remley had to say about selling a listing quickly on our Secrets of Top Selling Agents Webinar.
Remley, one of the top 1% of Realtors® in the nation and Principal Broker/Sales Manager at John Scott Medford & Ashland recently hosted one of our webinars to share how to position a listing for a quicker sale.
Pricing the Home
When a potential buyer goes looking for a home online, one of the first things they do is set price guidelines that they want to stay within. Remley says that if you want your listing to be seen in more than one of these price brackets, to avoid listing the home with a ‘9’ price. Listing the home for $300,000 as opposed to $299,900 will allow it to show up in the $250K – $300K and $300K – $350K price brackets. By doing this, your homes appear in two price brackets and potentially doubles the exposure of the home. Remley also mentions that if you are selling a home for a client, you should only ever change the listing price of the home in $10,000, $25,000, $50,000 or $100,000 increments.
Make the Home Visually Pleasing
To help potential buyers visualize themselves living in the home, Remley shares that the home should be staged to leave potential buyers interested in how they could decorate the home. Additionally, the effort that goes into making the home more appealing might even help you sell your listing a little faster.
According to a survey was done on over 4,200 homes by HSR, 68% of staged homes sold for at least 9% more than what comparable un-staged homes sold for. That study alone shows the positive side effects of staging and what it could mean for you and your client. There are also other benefits to staging a home. Remley mentioned that staging a home could help create a connection with buyers and that a staged home shows better online.
Not all staging is about moving furniture and decorations around. Just a deep cleaning or removing the smell of cigarette smoke can make a huge difference. Remley shared that in a study done by Realtor.com, that if a home smells like smoke, it could reduce the resale value of the home by 29%. If the home smells like smoke, try painting the walls and cleaning the carpets and air ducts.
Understand How Buyers Buy
Finally, to sell a home quickly, you have to understand the way buyers buy a home. With so many options online, these days most buyers are trying to eliminate homes as quickly as possible. This means after narrowing down their price range, buyers will have a list of must-haves that they quickly compare to the listing. To help bypass some of that early elimination, Remley suggests trying to focus on the benefits and not just the features of a home. Buyers eliminate homes based on logic but select a home based on emotion. This means that once a potential buyer falls in love with the home, they are sold and want to move into the home as quickly as possible.
Remley mentions that the ads you write as an agent are meant to showcase a home and the special things about the home. However, you should be broad when writing these ads. By doing this, you leave buyers curious about what the home is like and what it has to offer.
Create a brief description to paint a picture of the home without being too lengthy. Be sure to highlight the benefits and features of the home. Benefits like the location of the home and features such as the size of the home or attached garage. will keep buyers interested and make it harder for them to reject the home.
To learn more about merchandising your listings, join the Secrets of Top Selling Agents Facebook Group here. For more free real estate education, including best practices, visit the Secrets of Top Selling Agents website.