As a Realtor, it’s your responsibility to help your clients sell their home quickly and for the most money possible.
Easier said than done! That first criteria – speed – works to everyone’s best interest. The faster your listing sells the sooner you can take on new listings, collect your commission, and help your clients move forward with the purchase of their next home.
Want to sell homes faster? Here are three unlikely strategies for selling homes (almost) as soon as they hit the market.
1) Underprice by 3-5%.
In a hot market, it can be so, so tempting to overprice a home. After all, it’s a seller’s market out there – sellers have the upper hand! All that is true, but what’s the one thing buyers are specifically looking for in that kind of environment? A good deal.
By underpricing a property (using recent comparable data) just a bit, your listings are better positioned to illicit a bidding war. They’re likely to get more showings and to get more views online. Buyers are willing to overlook myriad flaws in a home they think they could “get a deal” on, too! The first 30-days of activity once a house goes on the market are critical; underpricing can turbocharge those first few weeks.
2) Stage the home to sell.
Your sellers need to stage. Data proves it: Home staging by a qualified professional helps homes sell much, much faster than homes that aren’t staged. Homes staged by ASP stagers sell in an average of 11 days – compare that to 90 days for un-staged properties. The Real Estate Staging Association presents data that says staged properties sell an average of six months faster than their counterparts!
If your clients are reticent to invest in staging services, remind them that the ROI for staging is generally between 5-50%. There are various levels of home staging, too, ranging from whole-home staging services to hourly staging consultations. A good rule of thumb is that staging always costs less than the first price reduction!
- Pre-market it to agents.
In a hot market, buyers’ agents are anxious to find homes for their clients. One way to ensure you get a steady stream of interested parties at your open house or during the first few days of showings? Pre-market your listing.
It takes a little work – phone calls and emails to buyers’ agents and major real estate firms – but the effort can pay off. With your sellers’ permission, showing the home before it officially hits the market can give prospective buyers time to get their financial information in order. It could even mean you get an offer before the house goes on the MLS!
Creative Home Stagers specializes in staging homes for sale. Are you a Realtor in Charlotte looking for a professional, reliable staging partner for your clients? Reach out to us today.