Formula for Success to Sell Fast & Top of the Market
Millions of existing homes are sold each year and, while each transaction is different, every owner wants the same thing: the best possible deal with the least amount of hassle and aggravation. Home sellers are always looking for the best approach to selling their home to obtain the best possible deal. So why it that some sellers seem to perform better than others? While, I’d like to tell you there’s some well kept secret, the reality is it’s in the preparation and working with a trusted advisor. There is a formula for success. And if followed, we showed be able to help our clients with Better Performance by Design.
1. Commitment to Sell
This might sound a bit obvious, but it’s crucial. In every market, there is a buyer for every property. If you are not committed to the process, you will end up frustrating the potential suitors for your home and hinder your ability to secure the best possible outcome.
2. Price it Right
It is completely understandable that home sellers fear of giving away their equity in negotiation. As a result the vast majority will price their home with wiggle room to negotiate. But unfortunately, unintended consequences are: Smaller potential pool of buyers willing to compete for your home, less demand and a decreased bargaining position. And by the time home sellers are willing to make an adjustment, the best potential suitors for your property have already moved on.
Price is determined by demand and your ability to leverage your position. All buyers want one of 2 things, a great deal or something no one else can have. A truly effective agent will help position you to maximize your demand and drive negotiations from a position of strength. When done properly, both buyers and their agents will compete for your price.
· 35-40% of home sales happen in the 1st 30 days, garnering the best price.
· Those that don’t sell in the 1st 30 days, reduce their price on average 7 Times!! (According to NAR Statistics). This is the process of chasing the market down.
· As you continue to wait the market and drop your price, you’re giving up bargaining position.
· Homes here in Scottsdale selling on avg for .94 on the dollar from asking price. By not pricing optimally from the start, home sellers are forfeiting their equity.
Now this doesn’t necessarily mean a lower price; it’s about determining how your property compares to the other homes on the market, establishing value for the unique features of your home and addressing the items that will cause concern for suitors of your property.
3. Investigate to Uncover What You Don't Know
With every contract, the buyer has a due diligence to thoroughly investigate the property. Having been in and around the real estate industry for the better part of 30 years, I have yet to see an inspection that didn't uncover an unexpected obstacle. Even on new homes that are still under warranty from the builder. If a homeseller can investigate and address potential concerns before they become points of negotiation, almost without fail, the seller will come out ahead. At the very least, sellers can avoid making concessions from a point of anxiety.
4. Showroom Ready and Available to Show
Enhance the Curb Appeal
First Impressions are everything, or at very least, you only get 1 shot at it. The truth of the matter is, every buyer will, in-fact judge your home based on the 1st impression. Sometimes it can be as clear cut as, deciding whether to even go inside to view the property. But at the least, it creates expectation for what’s on the inside.
Clean – De-clutter – Depersonalize
The fewer things there are in the home, the larger it will look, so remove knickknacks and excess furniture. Also take down family photos, religious items and political posters so prospective buyers can envision their family in the house, not yours. Finally, you may want to hire a cleaning service to do a deep cleaning. Stage the home to show potential. If you have odd rooms with no obvious role, give them one.
Make it Easy to Show
Perhaps unlike any other sale process, placing a home that is occupied greatly inconveniences the seller. Your home has be ready whenever a buyer wants to see it; the property should be clean at all times which may make you feel like you have taken on a 2nd job as a housecleaner; and creates a stressful feeling of uncertainty for the homeowner. Now I’m not suggesting that your home needs be available to the prospect that happens to drive by your property by chance and wants to see it now! In reality, allowing access to unqualified buyers is not got a practice and can even place a seller at risk. But most Buyer’s Agents have taken efforts to ensure their clients are ready to act when the right property comes along. They prequalify prior to showings and generally schedule competing properties to be shown together. By not having your home available at the convenience of the buyer to be viewed unencumbered (Without being present for the showing), you run the risk of your property not being considered by ready-to-act consumers.
5. Expose it everywhere
Marketing should be done automatically and systematically and marketed to the right target market. Avoid the dog & pony show, where agents discuss things with little impact and misdirect sellers from where your buyer is most likely to come from. Understand the intention of advertising is for lead generation, not to sell inventory.
6. Work with an Agent Experienced at Leveraging Your Market Position
Experience matters. What an agent does behind the scenes is what makes the difference between average results and maximizing a seller’s bottom line. The average home in Scottsdale sells for 94% of asking price, so what happens to the other 6%? In most circumstances, it's sacrificed by an agent not seasoned in the art of negotiation. Negotiation is not about pushing with iron fist, but rather by guiding discussions and leveraging your position. When done effectively, both buyers and their agents will fight for your price.
7. Trust your Agent
As consumers, we are trained to be skeptical. Most consumers view real estate agent as sales people looking to make a commission. While it is true there are agents who conduct business is this manner, a true professional will serve as more of a consultant through the transaction. As professionals it is responsibility to represent the interests of our clients in an effort obtain the best possible outcome. As an objective participant in the transaction, we have the experience to guide our clients through a myriad of potential obstacles that are likely to occur. The greater our understanding of our clients, the better we can serve their interests. Don’t expect us to be able to perform miracles, but better results are achieved when we can work together with clients to achieve their goals.
“My experience provides and insight you just simply won’t find with other professionals. My goal in representing my clients is offer true value, far beyond just dollars & cents.”
You won’t find another Scottsdale real estate agent - More committed to your success.
So let’s talk – 480-359-5150 / HomeSoldAZ@gmail.com / www.CallGrabowski.com
About the author: The above Real Estate information was provided by Ed Grabowski, Owner/Broker of Grabowski & Associates Realty. ©Reserved. “My experience provides and insight you just simply won’t find with other professionals. My goal in representing my clients is offer true value, far beyond just dollars & cents.”
Thinking of Selling your Home? I'd love to share my passion for real estate and marketing expertise! Ed can be reached via email at HomeSoldAZ@gmail.com or by phone at (480) 359-5150.
I service Real Estate sales in Scottsdale, North Scottsdale, Desert Ridge and surrounding communities.