Sold at full price is what every home owner wants when they put their house up for sale. It doesn’t always happen. Many homes, even in this strong seller’s market, go through a series of price reductions to get a buyer. It doesn’t have to be this way. When homes go through many reductions it hurts both buyers and sellers.
I have always said that marketing matters. Because homeowners believe, for the most part, that all real estate agents are alike the only item on their horizon is the commission. What should be foremost is marketing.
Marketing does matter because it makes the difference between a great price and a lousy price for a home. If a buyer gets a deeply discounted price for a house, they’ve just devalued the entire neighborhood as well as the house they’re buying. It’s a lose lose and not a win win.
The right marketing builds true value in a home. Poor marketing detracts value. It also costs a seller more than a loss in the price paid. Because poorly marketed homes take longer to sell, it costs an owner more to hold the house.
Don’t you want to sell your home to people who love it as much as you do? Doesn’t a buyer want to move into a home they’re excited about and love? What kind of a real estate transaction will it be if no one feels good about it? I can tell you that such a transaction will be like pulling teeth all the way through.
There is a very real emotional toll paid by both buyer and seller when the marketing can’t find the right buyer for a house. Your home is more than just dollars and cents and it’s the same for your buyer.
407 Mountain View Road in Englewood
Consider what happened at 407 Mountain View Road in Englewood. This is a classic example of what went wrong and what went right.
407 Mountain View Road was listed by another broker. It was on the market for 218 days with zero success. I listed the house and got it under contract in 5 days at the full asking price of $419,000 from terrific buyers. The difference was the marketing and that difference was huge.
Marketing the House
The first listing was a disaster. The photo’s were taken with a cell phone, internet postings were basic and the For Sale sign was a mess too. It looked like it had been through a war – faded, scratched and dumped in the middle of shrubs so it wasn’t visible. Not 1 open house and no mailings.
Because I want my listings to have tremendous impact when they go up for sale, I have everything fully prepared. The house is cleaned, professional photos and video tour taken, floor plan and house specific website done and the white post sign is ordered.
Next comes the online experience. I usually use 3 MLS systems. Weichert does extensive web postings while I work hard on social media. Written descriptions use keywords too.
Open houses have neighborhood calls and mailings (I did nearly 500 for 407 Mountain View). Eight directional signs were up by 11 am that Sunday with balloons for the 1-5 open house. Because of all of this, we pulled in the right buyer.
Behind what might look like an easy process are years of experience, training and marketing know how from myself and the agents at the open house.
If you’re a homeowner and employ a Realtor to sell your home, you’re going to pay a commission. Getting the best price is never about the commission. It’s always about how the listing agent markets the house. This seller had to wait over 7 months with no sale. How much did that cost? More than a commission difference I’ll bet. Sold at full price doesn’t happen if the marketing is not right.
Don’t short change yourself or your home. Call in a full time professional who’s expert at marketing homes. If you want to call me, I’m at 201-741-8490.