For Sellers
Step 1. Lose the Fear
Step 2. What makes your property SELLABLE?
Step 3. Pick the right REALTOR®
Step 1. Lose the Fear
Are you unsure about the market?
Forget the media hype and woes about the market. Consider the facts. According to statistics from the Greenwood Multiple Listing System (MLS), which includes Greenwood, Lake Greenwood (including lakefront in Laurens & Newberry counties), Ninety Six, Abbeville, Hodges, Ware Shoals, Waterloo, Cross Hill and more, this area’s residential sales volume has shown a slowdown from last year, but property IS selling and price averages have only dropped slightly. Keep it all in perspective---we've just come off the 3 BEST YEARS EVER in the real estate industry. Right now, there's a lot of 'inventory' for sale, so your asking price must be competitive, but if you're thinking about selling, there is one very good reason to go on the market now: rates are low and buyers are looking. Just be sure to consider the facts when make the decision to sell or not to sell—not the hype. Stay up to date- visit www.Realtor.org regularly.
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Step 2. What makes your property SELLABLE?
There are five factors that determine the “sell-ability” of ANY property, and YOU, when you are ready to put your home on the market, only have control over TWO of them- and those two must work together.
1) Location. You had control over this when you purchased, but not now. Your location’s appeal totally depends on a buyer’s needs and comfort zones.
2) Features. How many bedrooms, baths, floors or acres, parking, access to amenities, neighborhood restrictions or not, etc. are all features that may or may not be considered benefits to individual buyers.
3) Demand. You WISH you had control. This is The Market—what people have paid and are willing to pay. Competitive properties on the market are the “supply” and their asking prices are a gauge to take into consideration, but lenders and their appraisers look at SOLD properties only.
4) Condition. You have control and condition is a huge deciding factor on what you can do with the 5th factor and still SELL. Take care of the obvious BEFORE you go on the market. Clean. De-clutter. Paint. Repair. Work on your property's curb appeal. Even if you have the best of all worlds in the first 3 criteria, if your property’s condition has issues, it will negatively affect #5: Terms.
5) Terms. You have control. This is primarily your PRICE and it MUST take the prior 4 factors in consideration. And, since condition & terms are the only two you can control, they must work together IF YOU WANT TO SELL. If the condition isn’t great, the terms must reflect that. If the condition is good-to-great, you are in a stronger position for stronger pricing. Terms may also include whether you can offer creative financing for your buyer, what financial allowances you are willing to make for shortfalls in condition, the length of your listing agreement, what kind of commission you offer a listing agent to do the best marketing for your property, which also determines what co-op commission can therefore be offered cooperating buyer agents to motivate them to bring their buyers to your property, or, can you offer a Selling Agent bonus to further motivate agents, or can you offer buyers any financial incentives such as contributing a specific amount towards their closing costs? Terms and condition are CRUCIAL to the sell-ability of your property. Give it the best odds you can. It IS a competitive market. A good agent will advise you on what you need to do - not tell what you want to hear.
Action Steps:
a) Prepare it carefully. (Condition.) Inside and out. Does the lot need clearing or improving? Does your exterior need painting/pressure washing? Can you improve landscaping? Is all litter kept clear on your road and access road? Curb appeal can make the difference between someone pulling in or pulling away. How about inside? Declutter. Put boxes and furniture in storage- CREATE SPACE. Buyers don’t need to admire your style and decor – they want to envision themselves in there. On the other hand- a vacant home may sell quicker with a few representative pieces of furniture to give dimension to a room. I can help you pin down what needs to be done.
b) Price it appropriately. (Terms). Your strongest window of market excitement for residential is the first 2-4 weeks on the market. If you are overpriced- you will lose that edge. Period. Price it too high to "test the market" and expect low-ball offers--if any.
c) Market it aggressively. You need someone willing to turn up the volume in as many ways as creatively (and financially) possible. The goal is to have as many people as possible exposed to your property. This might be a short-or long-term commitment, depending on the Five Factors and how well you've incorporated the Condition & Terms.
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Step 3. Pick the right REALTOR®. (Me for example.)
Selling your home is a large undertaking. Making the smart move of choosing a REALTOR® is your first best step to ensuring that your investment in your home pays off. My services and experience allow you to focus on your move while I manage your home sale from our initial consultation to the closing deal, and beyond. I pride myself on repeat business and hope you'll come to understand why. Probably the 2 best tips I can give you at this stage, while you're considering ANY agent: 1) DO NOT pick an agent based solely on whoever suggests the highest price for your property. No agent can manipulate the market and all agent suggestions are negotiable provided they are reasonably based on market facts; 2) DO NOT pick an agent based on the lowest commission fee- at least not until you know exactly what value you're getting in return. Also, make sure you understand how the real estate commission fee typically works . 3) DO pick an agent that has an aggressive marketing plan that matches your property.
MARKETING IS KING. Every agent should be able to offer you the basic “Three Ps-” put in the sign, put on the lockbox, put it on MLS. Any agent worth their salt should also be able and willing to offer you an additional three “Ps” – put it on tour, put it into advertising, put it on the internet. HOW they do these 6 steps and to what extent, plus what are they willing to do to "go the extra mile," can make all the difference between a well-marketed property that has a chance of selling, and one that SITS.
Over the past several years, I have worked hard to create creative and dynamic systems that I've incorporate into my Extreme Marketing strategy. My marketing plans incorporate broadbased & targeted online marketing matched by few, powerful local networking, print advertising, and unique local, state and out-of-state promotions--essentially, dedication to the task- Online, In print, & In person. I believe it helps me stand out among the masses. My track record speaks for itself. (See the About Me page.)
If you are ready to "Change Your View," call me and say hi: 864-494-8815
