There is more to selling a home than you might think. Superficially, a person might think that it will sell itself currently because, nationally, homes for sale receive 3.6 offers and they sell within 18 days.
Any business student can probably list the four Ps of marketing: product, price, place, and promotion. It may appear that there isn’t much to selling a home: put a price on it; photograph it; put a sign in the yard; and, put it in MLS but, on closer scrutiny, there is a lot more that the best agents provide.
Long before the home goes on the market, the agent will create a detailed value and pricing study based on similar homes in size, price, proximity, and condition. An overpriced home will sit on the market longer than it should. The longer it stays on the market, buyers, as well as other agents, begin to wonder if there is something wrong with it.
The agent will develop a staging and declutter plan to make the house show at its best because first impressions matter and this type of effort provides a neutral canvas for buyers to start imagining their things in the home.
The marketing plan is a comprehensive strategy to consider every aspect of selling the home with the focus being to maximize efforts to get the highest possible price, in the shortest time with the fewest unanticipated events.
The individual marketing materials need to present the home in its best light. It begins with professional photos because today’s buyers will most likely, first see the home online and if the pictures don’t make the property look good, they may decide not to see it. In addition, those photos will be used on the brochures for the home and just listed announcements, as well as social media. They are crucial.
Among the most important value the agent brings to the table is their negotiation experience. Every phase of the sale involves negotiation and the position of third-party negotiator eliminates an uncomfortable situation for sellers having to deal directly with buyers, other agents, appraisers, inspectors, and lenders. Your listing agent will be your champion.
The following list includes typical things that most professionals will provide. When interviewing an agent, feel comfortable to ask questions regarding their position on these items. Another item you might find helpful is our Sellers Guide.
Create Value/Pricing Study
Develop Marketing Plan
MLS & Portals
Just Listed/Just Sold
Prospect for buyers
Weekly Follow-up – Seller
Inquiry phone calls
Meet with buyer’s agent
Write & Review contract
Review Escrow Statement
Track buyer’ loan progress
Attend final inspection