Years ago, the best way to sell real estate was a mystery, and real estate agents held both the lock and key to the answers. If you wanted to sell your home, you had to trust that your agent had the right combination of marketing skills and contacts to get your home sold quickly and for the right price.
Fortunately, technology has changed all of that. While many real estate agents are still out there trying to add value by offering yesterday’s solutions, the truth is just a Google search away. And at Value Nation, we’re all about delivering the truth to our clients.
Here’s a quick and easy to understand primer on what really sells homes today. We call them the Three P’s of Modern Real Estate.
The single most important factor when selling your home is price. Though it’s a simple concept, way too many sellers (agents included) price homes far outside of what the market will pay. Homeowners tend to wear rose-colored glasses when assessing the value of their homes, and many real estate agents feed into it just to keep the peace (or the listing).
Luckily, there are more valuation tools available online now than ever before, but the accuracy of each individual tool varies. At Value Nation, we utilize all available information (including recent comps) and add our expert knowledge of the local market, which results in a very accurate home value assessment. And when we say “accurate,” we mean a price that the market is likely to pay.
It’s also important to understand that when pricing a home, you’re not operating in a vacuum. All of the data you have, the prospective buyer probably has, too. In fact, you can bet that when a buyer walks through your home, he or she will have walked through several others in the same price range that same day and will have a very good understanding of whether your home is priced well or not.
Obviously, you need to price your home according to what feels right to you. Just keep in mind that the closer you price your home to its true market price, the more quickly it is going to sell.
Now that your home is priced well, you’ve got to get it in front of buyers! That’s where promotion comes in. Luckily, these days, this is the easy one. When Value Nation lists your home on the MLS, it will automatically be listed on thousands of other websites through things called IDX’s. Two of the most important of these websites are Zillow and Redfin.
Once your property is on the MLS, you can rest assured that it will be seen by any serious buyer looking for homes like yours in your area. Old school real estate agents will still send out postcards to your neighbors and hold open houses so those same neighbors can nose through your stuff, but that’s all in an effort to make themselves look busy or capture leads for themselves. The internet is really doing the work.
And, speaking of the internet, don’t underestimate the power of social media. Value Nation pays for social media ads for each one of our listings. These can go a long way, but what’s even more effective is when home sellers share the link to their listing with their personal social networks. The people you know and the people they know are a powerful pool of people to market to. Plus, it’s easy and free!
Again, when it comes to property promotion today, it’s all about the internet. And that’s good news for everyone (except postcard printing companies).
Once your home is priced right and it’s in front of the right people online, what’s next? You need to beat out the competition – all of the other similar homes that are available. Presentation is critical.
It starts with photography. In the sea of available homes online, the best way to make your home shine is through excellent professional photos. That’s why Value Nation includes premium photography with every listing. It’s a must-have. An average home can look like a gem and a beautiful home can look like a dog depending on who takes its pictures. Ask for Value Nation’s handy guide on how to best prepare your home for its big day in front of the camera.
Presentation begins with photography, but it definitely doesn’t end there. You’ve worked hard to get the prospective buyer to visit your home, but the slightest misstep in prepping your home for the showing can turn off a buyer. After all, he or she will likely visit several other similar homes that day and, many times, the one they “feel” the best about is the one that gets the offer. Luckily, we have another guide that will help you get your home show-ready to send all of the right messages.
And, there you have it! It really isn’t that complicated. Technology has taken most of the mystery out of selling a home. If you price it right, promote it online and present it beautifully, your chances of a quick sell increase dramatically.
The simplicity of the Three P’s is what allows Value Nation to offer high-level service at such a low price. Contact us today to get started!