Many sellers focus on the wrong things when listing their house. This leads them down a rabbit hole of actions that don’t make a big impact causing frustration and poor results. What most think helps sell a home is not really what sells a home. With over 50 years of combined experience, we here at Stewardship have been able to simplify what actually sells your house into three areas. We’ve also identified the mindset buyers have as they engage in each of these aspects. The three areas are: price, product, and presentation.
Price
Pricing your home correctly is potentially the most crucial factor in selling. If your house is priced too high, it may sit on the market for a long time. If it’s priced too low, you may leave money on the table. Pricing your home appropriately from the start is essential.
One of the most common misconceptions is that you should list your home high to leave room for negotiation. This is not always the best strategy. Buyers and their agents are well-informed and can easily identify overpriced homes. Overpricing can lead to fewer showings and less interest, resulting in a lower final sale.
The best way to determine the right price for your home is by working with an experienced real estate agent who can conduct a comparative market analysis (CMA). A CMA takes into account recent sales of similar homes in your area and current market conditions to determine a fair price. It’s also essential to keep in mind that the market is constantly changing and it’s crucial to adjust the price strategically if necessary.
BUYER MINDSET – Buyers compare the price of your house to similar houses that have recently sold. Buyers are more likely to put in an offer above the list price if they know there are others also looking at the home. As a result, listing your home at a price that drives traffic is more important than “let’s list high and see if we can get it”.
Selling a home doesn’t have to be complicated. The right actions help you go further faster when selling. The best way to sell your home well? Use an experienced Real Estate Agent. Not only do 79% of sellers fail to sell their home when they try to sell without an Agent, but if they do sell their home they sell for 26% less than when working with an Agent.
Product
When it comes to selling your house, the product you’re presenting is more than just a physical structure. A house becomes a home; a place where people make memories and build their lives. It’s essential to showcase it in the best way possible. One of the critical aspects of presenting your home is to manage the perception of potential buyers. Buyers form positive or negative impressions in the first few minutes they spend in your house. Therefore, it’s crucial to make a good first impression.
Start by putting yourself in the buyer’s shoes and walk through your home as if you’re seeing it for the first time. Consider any potential negative factors such as pet smells, excess clutter, cleanliness, and deferred maintenance. Addressing these issues before listing your house can significantly impact how buyers perceive it.
Another key element of presenting your home is paying attention to physical touchpoints like lighting, door and cabinet hardware, plumbing fixtures, and HVAC vents. Mixing and matching colors, age, and styles can confuse the buyer and lead to negative conclusions. Focus on continuity throughout the house.
BUYER MINDSET – The first impression has the potential to build an amazing overall view of the house or it can be a barrier that prevents a buyer from fully appreciating the other great things about your home.
Presentation
When it comes to presenting your house, one of the most important factors is exposure. Buyers can’t buy a home if they don’t know it’s for sale. First, and most importantly, listing your home on the local MLS (Multiple Listing Service) and real estate websites like Zillow and Realtor.com is essential. These platforms are where serious, active buyers are looking.
It’s also necessary to utilize traditional marketing methods like hanging a “For Sale” sign, posting additional signage directing traffic to your property, and utilizing social media. While these marketing methods may not directly result in a sale, they can create buzz and generate interest in your house. It’s never a bad idea to get your home in front of more people. Additionally, open houses offer potential buyers a chance to see the space in person and ask questions.
Many sellers heavily focus their efforts in these areas, but the truth is, buyers don’t buy a home simply because they see it on Instagram. In fact, some of these marketing efforts actually end up being more effective tools to solicit the agent than the actual home. Social media and open houses are important pieces of the puzzle, but we want to reiterate that the MLS and other real estate websites are where serious buyers are shopping.
Exposure alone is not enough. Quality counts. You need to ensure that your home is presented in the best possible light. It is wise to ask if your listing agent is planning to have professional photos or video taken to capture the property’s features. Highlighting unique and valuable aspects like a spacious backyard, high-end finishes, or energy-efficient appliances can significantly impact a buyer’s perception.
BUYER MINDSET – Buyers are easily overwhelmed with all the homes on the market. As a result, they highly value homes that meet their specific needs. The best place for a buyer to get the most customized list of homes is by using the MLS, Zillow, and Realtor.com.
Selling your home can be a lot of work. But partnering with a wise and loving real estate agent who is willing to put your needs above their own can make the process much more enjoyable. More significantly, going into the home selling process with the proper mindset and healthy expectations can entirely transform your experience. Remember, when it comes to selling your home, it all comes down to price, product, and presentation.
If you would like to chat with us about selling your home, you can learn more about our process here: https://stewardship.pro/sell-a-home/
