Home Selling in 12747>Question Details

Bu32xl, Home Buyer in Murrells Inlet, SC

how to market a house for sale in this slow market?

Asked by Bu32xl, Murrells Inlet, SC Thu Sep 8, 2011

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Answers

7
Price it right. Make sure you get a current CMA. Then price at the bottom range of the CMA.

Make sure it shows well. Clean and declutter it. Paint and repair it. Make sure the exterior looks good, too. Consider getting it staged.

Market it extensively. Make sure there are a lot of good photos of it. Then make sure it's not just on the MLS, but on all the other online sites. Ask your Realtor what other marketing techniques he/she will use. Fliers, postcards, etc. Ask your agent about a broker's open.

That's how to do it.
2 votes Thank Flag Link Thu Sep 8, 2011
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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It is not just about looking at the CMA to find the comparable sales and pricing accordingly. It is also about pricing accordingly compared to the comps BASED ON YOUR HOMES CONDITION!
And in terms of marketing:

The type of marketing is EXTREMELY important! As Don said, make sure that your listing is able to be found everywhere! google your address and see where it pops up, it should be found on sites like
Trulia, Zillow, Facebook, Twitter, Linked In, Oodle, front door, craigslist, Hot Pads, Yahoo and everywhere! Make sure your agent has a copy of your survey, a copy of the floor plans and takes room measurements. These are all important for today's buyers. I would also make a list of all the upgrades/updates you have made to the home, how old your appliances, and systems are, roof etc. Especially if they are recent. Provide copies of any service contracts you currently have on the home: termite, hvac etc.

Have your agent narrow down the target market of buyers that would be most interested in your home and make sure to create a campaign just for them. Contact buyers agents that represent buyers in your neighborhood area frequently, this can be found in teh MLS data.

Make your home as accessible as possible to agents and their clients for showings, and make sure the house is spotless when they come in! You may not get a second chance for an impression. Make sure there are no obvious flaws to the home, paint defects, items that are obviously in need of repair etc. Buyers are wearisome already about home buying and the responsibility that comes with that. The homes taht sell the quickest and for the most money are those that buyers feel at ease with.

Best of luck!
1 vote Thank Flag Link Fri Sep 9, 2011
Bu32xl ~

If you hire a real estate company and they do a CMA make sure it includes:

1) Recently Sold comparable homes to yours
2) Active Homes comparable to yours (how long have they been on the market)
3) Under Contract homes comparable to yours (how long where they on the market)
4) Expired homes comparable to yours (homes that didn't sell, try to see why)

All this information is needed for you to make an informed decision. And if they have pictures, make sure you're looking at them.

Your #1 goal is to get the most amounts of buyers through your door. To do that you'll need to list and show better than the competition.

Make sure you have a Feedback Sheet for instant comments from buyers.

Also, make sure your home is listed on several sites and in print, especially if you've discounted the commission on the buying side. It's an ugly truth but some agents only search properties that offer the full 3%.

Good luck!
0 votes Thank Flag Link Tue Sep 13, 2011
Interview a few agents from different realty office, then choose the one you like best and who has the most to offer; competitive pricing should be a priority, as should marketing that maximizes your exposure, MLS, internet sites, fliers, etc; your agent will offer suggestions as to what needs to be done. Make sure sure the property shows as a property to remember--handle any cosmetics, fresh paint, sparkling clean floors, declutter, remove/rearrange any bulky furniture, no faucet leaks/pipes, be aware of any bad odors, strive for orderly closets, manicured landscape and general curb appeal, etc.
0 votes Thank Flag Link Fri Sep 9, 2011
Listing Price is 95% of the battle:

Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.

Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”

Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)

Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.

Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.

Good luck and may God bless
0 votes Thank Flag Link Fri Sep 9, 2011
Hi Bu32xl,

Make sure you have your Realtor do a Comparative Market Analysis (CMA) using Sold comps within a 1 mile radius of your property (the closer, the better) that have Sold within the last 3 months. This will give you current market value. This is what you should base your list price on. List price is one of the most (if not the most) important marketing items.

Pictures, pictures, and more pictures. 80+% of homebuyers begin their home search on the Internet. And, buyers like to see a lot of pictures - of every room, yard, etc.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Thu Sep 8, 2011
1. Priced right and as competitively as possible.
2. Staged successfully.
3. Marketed effectively.
4. Follow up on every lead and inquiry or if you're using a realtor, make sure they keep you updated.
5. Be patient.
Goodluck!
0 votes Thank Flag Link Thu Sep 8, 2011
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