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Understanding How Experience & Analytics Sells Homes

Posted by Terry Bell-Aby on Mar 13, 2019 4:10:00 PM

Tiny house on a ring of keys

In real estate, there is often a disconnect for sellers as to what qualities make a good listing agent and what leads to success. I received a phone call recently from a woman who mistakenly thought that I had listed the property in her neighborhood that had recently sold. She said she was planning to list her home for sale to which I said, “Great, I can help you with that.” However, upon learning she had mistakenly reached out to the wrong agent, she no longer wanted to explore listing with me because she thought she should list it with someone who “knew her neighborhood.” Before I could explain why that kind of thinking was counter intuitive she had hung up. I want to get the message out to others who might also be thinking the same way about who should represent their interests, because whether or not I have sold a home where you live, I make it my business to know your neighborhood. Here are my 5 steps to selling your home by using experience and analytics. 

Comparative Market Analysis 

In the last two years, I have listed and sold six properties in neighborhoods in which I had not previously sold a home. Five of those properties were on the market for less than one week. Four sold for 97% of asking price, and the other one at 95%. The other property was sold before it ever hit the Multiple Listing Service. How did I accomplish this? I do my homework. I don’t guess. I derive hard statistics about days on the market for specific types of homes in specific areas. It’s important to know what properties have sold and the price per square foot on average but, going in to meet with prospective clients I also know how many months of inventory for similar properties there are and what that means to sellers when they decide their list price. I make sure they also know how many new listings are likely to come on the market and become their competition. I also represent buyers as well as sellers. Many agents do not. That means I am showing properties in all neighborhoods so even if I haven’t listed and sold a home there, I know the market from both sides.   

Marketing

Successfully marketing a home is more than taking pictures with your phone and sticking a sign in the front yard. I meet with my marketing department in advance to discuss the strategy for that particular home and together we develop a plan of action. In addition to the photos, signs, and flyers, there is also a carefully crafted social media and agent outreach strategy. Paired with a purposeful property description and professional images curated to tell a story, the stage is set to achieve maximum interest, engagement and exposure. For instance, the front of the house may not be the most compelling picture.  Think about the time you spend deciding to click or not click on a listing, that first image and description has got to grab the most eyeballs and quickly.

Investment

I personally conduct professional staging and invest in hiring a professional architectural photographer to ensure that the photos best represent the house and will drive showings immediately. In 2019, everyone starts his or her search for a new home on the internet and the photos and keywords are mission critical to generating excitement.

Contracts

An offer is the sum of its parts and I know the intricacies of a real estate contract. The price of course is important, but so are the other elements such as closing, earnest money, and the addendums. I carefully read the details to see not only do the buyers require financing but also how much? Are they seeking financing that may be out of their reach, only to have the financing fall through 3 weeks after we go under contract thereby taking the home off the active market? It’s also important to negotiate the repair requests so as to minimize the sellers’ risk. In nearly every deal, the repair request is the most stressful aspect for sellers and buyers. I have 20 years of experience in construction and real estate and I understand how to manage that risk and can help guide both sides through the process.

Certified Negotiation Expert

Selling a home quickly often involves managing multiple offers. When a property is hot – it’s hot. There are at least six options to successfully negotiate multiple offer situations and simply taking the highest price offer may not result in the greatest net to my sellers. Let me show you how I can do the same for you no matter what neighborhood you call home.

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Topics: Real Estate

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