1. Staging matters–big time!Every agent knows the old adage, “Homes that don’t show well don’t close well.” But still, time and time again we see sellers rail against the time and cost associated with staging a home. Afterall, if they love their home as it is, why shouldn’t everyone else? This is a situation where sometimes showing trumps telling. If you have a particularly stageing-averse client, take them on a two-home showing; one where the home is staged and one where the home is not.
Be sensitive, but firm. Their decor may be a beautiful expression of their personality, but sometimes less is more. You can also download and share Trulia’s 10 Hardcore Staging Tips for Sellers so that they can reference it before every open house.
2. The market sets the price, not the owner. It’s understandable that many home sellers think that their home is above the price that the market dictates. Sentimental value often translates into an inflated sense of the home’s worth, but when it comes price, the winning opinion is always the market’s opinion. You know it’s impossible to effectively price a home without taking into account the competition. Unfortunately, too many sellers don’t.
First, it’s essential to determine how much the seller thinks their home is worth. If their expectation is wildly inappropriate, it may be worth taking the clients to see a home that is on the market and priced at their expectation. Then, take the seller to a comparable home that is priced similarly to where you feel their home should be priced. Take the time to both educate them on the competition and give them expert home pricing tips to help them understand your pricing strategy.
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3. Small renovations may mean big bucks laterIn many cases, the cost of a home repair is less expensive than a potential buyer perceives the cost of the repair to be. If buyers over estimate the cost of fixing the problem, it may negatively impact the offer amount and end up costing the seller more in the long run.
When it comes to price. If you need a starter list of simple ways to boost a home’s value and its showing potential, download our guide on the 10 ways to boost your home’s value.
4. Incentives can help close the deal faster.Offering practical incentives might not sound sexy, but those that fill legitimate buyer needs have the power to differentiate a listing from the competition and attract just the right attention needed to get the home sold for the right price.
Talking incentives early and building them into the marketing plan can arm both agent and seller with the ammunition to jump potential marketing hurdles and beat out the competition for a fast sale.
If you need help deciding what incentives help sell homes check out this popular home seller handout on the Top 4 Incentives that Sell Homes.
5. Serious buyers never stop the hunt.Too many sellers see the winter months as the slow season. The reality is, there are plenty of upsides to listing and marketing a home when everyone else is taking a break.
Check out and share our free agent download 5 Unexpected Upsides to Off-Season House Hunting to show your clients that holding off on listing could ultimately make selling harder than it has to be.
6. Real estate is a local business.The last few years have turned real estate headlines into high-profile news. Home prices are on the rise. In fact, last month home prices were up 11.9% over the year past. While this is great news for the country as a whole, be sure to remind your sellers that real estate is a local industry and that asking price isn’t everything.
To do this, consider posting your own local market updates on your personal real estate blog. In addition, check out and use these tips for showing your clients the difference between asking and listing price in your local market. For many sellers, seeing the numbers is just the ammo they need to agree to the right price.
Now we want to hear from you! Tell us! What would you add to the list of seller must-knows?
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Houston Real Estate News: In Houston, 1,060 luxury homes were sold between January and October 2013. Luxury home sales made up 1.7 percent of the total housing market, but were the second fastest-growing price class with a 46 percent increase from the same period in 2012.
This is more than double the 19 percent year-over-year increase of the Houston housing market as a whole. As of October 2013, there were 756 active luxury home listings, 4.1 percent of all active listings on the market. The housing inventory for a luxury home was 7.4 months, 4.3 additional months than that of the Houston housing market at large.
Bernard Hill REALTOR®