this is the worst depression since the 1930's then how are some sellers
beating the odds and selling for top dollar. They are using time tested
and market approved techniques and strategies that give them an edge
over their competition. Here are 10 tips to help you achieve the same
- Price aggressively:Â Setting
the right price for your home is the single most important decision you
will make when you sell. If you go too high you risk turning away
buyers, go too low and you leave money on the table. One simple yet
powerful technique for pricing is to look at your competition. Spend the
day looking at homes for sale by doing so you will
be seeing the world through the buyers' eyes. Be honest with yourself.
Compared to your competition what price gives the best value for buyers
in your marketplace?
- Use price points:Â Buyers
ask to see homes between price ranges that are separated by five to ten
thousand dollar increments. Consider setting your price near one of
these price points. For instance a price $149,900 would probably net you
exactly the same number of buyer inquiries as a price of $147,900, but
moving your home down to $144,900 (the next price point down) would
widen the potential buyer pool.Â
- Use value range marketing:Â Another
technique that may increase showings and offers is to use value range
marketing. Value range marketing is a pricing technique in which you
choose a listing price based on what you would sell for today if a buyer
wrote you a check. You then choose another lower price - one that you
wouldn't reject if offered but would use as a starting point negotiate
towards some middle ground. For example, instead of listing at a
specific price of $299,000, you list between $259,000 and $299,000.
- Offer a bonus to the selling agent:Â In
a market with surplus inventory often sellers will provide a selling
bonus to motivate agents to show their home more often. While you may
dislike paying real estate brokers even more money, the fact is it may
provide just the right incentive for them to work a little harder to
sell your home for top dollar.
- Find an aggressive listing agent:Â Take
the time to do some research, talk to friends, neighbors, and
colleagues about who they recommend, and interview multiple agents
before making a hiring decision.Â Â Be sure they are open to suggestions.
For example, you may have ways to improve advertising copy, flyers,
photographs, or even virtual tours.Â
- Invite constructive criticism: To be a successful
sellers you can't be afraid of a little constructive criticism. Your
agent should encourage other agents to give them suggestions from
pricing to curb appeal, this helps secure the highest possible price for
- Offer incentives:Â After
a buyer has narrowed their search down to two or three choices they may
need a little motivation to take action. To help encourage buyers, many
sellers will offer incentives like buying the interest rate down on the
purchaser's loan, paying for closing costs, inspections, or repairs.
- Staging and curb appeal:Â Buyers
needs to become emotionally invested in your home before they will pull
the trigger. To create a lasting first impression start from the
outside and improve your home's curb appeal. Next move inside and stage
each room by creating a warm and inviting space.Â
- Get a pre-inspection:Â Many
sellers do pre-inspections to provide buyers with a clear picture of
the whole home inspection or pest and dry rot inspection.
- Be willing to make adjustments:Â Successful
sellers have the ability of making adjustment to their strategy
quickly. For instance, if buyers don't begin to view your home on a
regular basis, this is a clear indication that the market is rejecting
your price. The only solution: lower your price. On the other hand, if
you have steady stream of buyers, yet you haven't received any offers,
something about the home is turning them off.
Cody Anderson, MN Licensed Realtor
RE/MAX RESULTSMetropolitan Home Team