Originally posted: September 23rd, 2008 11:48 PM
3 tips to selling homes in Edmond, Oklahoma and for receiving more offers. With 409 Three bedroom, 442 Four bedroom, and 67 Five bedroom homes on the market, what can Sellers do to set their homes apart from others?
First realize that if your house is a 3 bedroom, Sellers have a 0.24% chance that the average 3 bedroom Buyer will even want to look their home (1 divided by 409 = 0.0024 times 100 equals 0.24%). So looking at the Macro side of things, with 986 houses in total for sale in Edmond, not including the â€œFor Sale By Owner,â€ (FSBO) & home loans not being handed out like candy, what are true Sellers to do?
IA Seller who is bringing their â€œAâ€ game to selling their property today focuses on three things right away, Price, Curb Appeal, and Cleanliness (PCC). When a home only has a 0.24% chance of even being picked to be looked at, ask this question, â€œwhat is the first thing Buyers do when picking propertyâ€™s to view?â€ They view properties that fit within their preapproved price range. That is, the Buyers and their Realtor have entered their price range into the MLS database to find homes. For example, a couple would like a 3 bed, 2 bath, under 150 thousand, in Edmond, Oklahoma.
So how does a Seller price their house right for todayâ€™s market? Get a Comparable Market Analysis of your neighborhood. There are Several Real Estate Companies (The 1% Listing Fee, Metro First Realty, Josh Barnett, Realtor, etcâ€¦), here in Edmond, Oklahoma which will provide Sellers a Comparable Market Analysis (CMA). This is a compilation of the Actives, Pendings, and Solds of your neighborhood over the last 6 months. Your Realtor will explain this information and provide their professional opinion to help, make a sound decision on being able to price your home competitively.
Price, the first part of the PCC program. On a side note, price is what drives menâ€™s buying response. The next two, curb appeal and cleanliness, drive womanâ€™s buying response. Women make 80% of all buying decisions. If Sellers over price their homes, they have already added 30 to 60 extra days on the market. There are too many choices available for todayâ€™s Buyer. Sellers have to be competitive to get showings on their homes. With the internet, it is easy for a buyer to gain access to the price of all the homes of the neighborhood. Most Multiple Listing Services (MLS) have a public side to them also. Sellers not priced right will have their homes just sit stagnant and become an expired listing, especially in todayâ€™s competitive Market.
We have gone over the chance Sellers, have to get a Buyer in their Front door in todayâ€™s market. We have also gone over that competitive pricing is key and how to get free Comparable Market Analysis. We know turn our attention to the Curb Appeal. Think back to when you were purchasing your house and how when driving around, some of the homes just seemed to smile at you. Well, buyers of today are no different then you, the Seller, were when you first saw your home and were just amazed at the sight of it from the curb. Sellers know whether they need to repaint the trim, front door, or even the garage door. Sellers know whether they need to trim the hedges, add mulch to the flower bed, or go around the edge with the weed eater. Curb appeal will affect all buyers so much, that as a Realtor is pulling in with their buyer, they have to put it in Reverse, because their buyer has instructed the Realty this is not the house, by just seeing the Curb appeal. If you donâ€™t believe me, contact those same offices that give the free comparable market analysis (CMA) and ask any one of their Realtors, they will probably laugh as they answer you in the positive. Buyers will not go in a home, which does not look good on the outside; there are too many choices for them in todayâ€™s market. Loweâ€™s, Home Depot, even Amazon.com, all have landscaping books, that are fairly inexpensive, as opposed to losing your buyer, read a book or watch a YouTube video on how to landscape.
A couple easy ideas for curb appeal;
1) Ask your neighbor if you can park you spare car in front of their home on days you know you have a showing, at least pull that car in the garage (you, as a seller, do not want to cluster your property with a spare vehicle, the buyer is buying the Real Estate, the Car, is a distraction, move it!!!
2) Put those Ugly City Garbage Containers behind your back yard fence, get them out of sight, buyers are going to have to have an emotional attachment to your home. I have never had anyone tell me they have an emotional attachment to trash, never.
3) Trim your hedges to chest height or below the window that they, the hedges, may be located in front of. Chest height is just a guideline that appeals to eyes, below a window is so that the window is still usable, and doesnâ€™t appear obstruction to the inside-out view.
Recapping, we know that to get a buyer, we have to competitively price our home to get on the viewing list, getting the opinion of a professional that Sells Real Estate on a daily basis helps with pricing, the city of Edmond, Oklahoma has 986 houses â€œFor Sale,â€ (not including FSBOâ€™s), and to get the Buyer inside our Curb Appeal has to be prime.
Let us now speak about the final, most important 3 items todayâ€™s Sellers have to complete to be able to compete, CLEANLINESS!!!! Sellers need to ask themselves these simple questions, is there dust on my fan blades, in that air conditioner filter, on the blinds over the windows. If you answered yes to any one of those choices, you need to either, A) Spend 3 hours performing a thorough cleaning of your home, or B) Call your local cleaning company and have them clean your home with the best package they have available. First off, if you have dust in that air conditioner filter (your intake), you need to change your filter immediately to save your HVAC unit from the increased work load a clogged filter. Second, buyers look out windows, what is in front of windows, normally? The answer is your blinds, every buyer steps up to the windows, I do not know why, they just do, what will a buyer think about the rest of the home if there is an inch of dust sitting on the blinds distracting the beautiful view? Remember, 0.24% chance of selling your home, donâ€™t lower that value by being lazy when it comes to cleaning. Ensure that you have cleaned everything from the kick plate of the front door, to the scum build up on the bottom of bathroom faucet. This cleaning will also make the home seem brighter and a bright home is a happy home. Remember, once the price is set, emotions are the driving factor selling your home. If a home does not give positive energy, Sellers are not going to receive a positive offer. So the last C out of PCC is cleanliness, so Price, Curb Appeal, and Cleanliness is the PCCs enable homes to finally receive offers, before all the other homes.
So, if youâ€™re the Seller that is tired of having the most, â€œdays on the market,â€ (DOM), think seriously if Selling is what you want to do. If it is, remember to contact the local Real Estate office and ask to speak with them about what your Listing Price should be. List your home, then get out there and take care of your curb appeal. Once you have cut the grass and hidden the garbage cans, it is time to Dust, De-clutter, and Brighten your interior. If you have inside pets, ensure that you have taken care of their odors; certain buyers are allergic to pet dandruff and will not even be able to look at your home due to allergies.
Sellers need to remember, selling a home is a competitive market. If you want to sell your home, here in Oklahoma Metro Area, you are going to have to step up. Make sure the MLS pictures of your home are the best they possible can be, this way Buyers will want to look at your home.
Updated May 12, 2012 | Josh Barnett, Realtor | The 1% Listing Fee | Edmond, OK