The value of your home is a function of many variables, many of which may be outside of your control. This makes understanding and managing those that are within your control crucial to maximizing your sale price.
Many factors are included when buyers are considering writing an offer. As a seller, your job is to identify and manage those with a direct impact to your bottom line. While it is true that the sales price of any home is largely driven by location, features and the current competitive landscape, it is even more accurate to add “as perceived by the buyer” to the end of the statement.
Therefore the best course of action when selling involves focusing on anything that will afford a large number of buyers the opportunity to view and consider your home in a positive light.
Said simply -- a polished product seen by many potential buyers is easier to sell.
A simple three step process can help:
Begin with a Comparative Market Analysis
Consulting an expert and assessing your starting point is wise before you begin any journey. When selling a home this means engaging an experienced local agent to walk through your home and provide expert analysis. They’ll take notes, document specs and fully assess every aspect of your property, noting positives as well as opportunities.
Armed with this information a strong agent can layer in a comparable listing report and the supporting detail to explain the analysis in detail. Perhaps most valuable, this analysis will provide a clear bottom line-- their best guess at a fair listing price. It will be driven by a deep understanding of the marketplace and how your home might fair versus others that are similar. It will also clearly identify which key differentiators will impact price.
Address Key Concerns and Mitigate Risks
Armed with your Comparative Market Analysis, you will be able to sit down with your agent and discuss which factors uncovered in the analysis are worthwhile to address prior to listing. This will include problem areas to consider fixing and key attributes to feature. For many sellers this may simply mean fresh paint and carpet, for others much more.
This is a nuanced discussion that often includes strategic investments and some sweat equity. An experienced realtor will discuss recommendations and can give you a clear understanding of which tweaks will provide an out-sized impact to sale price. In many instances a few key expenditures can make a world of difference. Once you’ve determined an action plan and discussed strategic pricing, it is time to talk marketing.
Focus on Marketing
In a competitive marketplace it is important to stand out. It is also a virtual certainty that the buyer of your home will first view it online. Open houses have their place, but they generally serve as the two of a one-two punch. This means every detail of your home’s online profile must be carefully scrutinized. Your summary should be well-written, photography professionally done and the staging optimized. Attention spans are short in the digital age and capitalizing in this realm requires you to put your best virtual foot forward. Here that experienced agent will also prove their mettle, creating interest visually and via that all-important description.
In addition to optimizing your listing, you should also task your agent with explaining additional components of their marketing plan. Virtual tours, social media blasts and direct buyers’ agent engagement are absolutely crucial. Online listings can age quickly and “splash” marketing strategies (along with competitive pricing) can ensure early activity.
The Bottom Line
It is no secret that the through line to every component of selling your home is engaging the right sales agent. There is no substitute for the wisdom of experience, but perhaps even more important is where that experience was gleaned. The most effective agents have a neighborhood-level understanding of the nuances of the local market.
When buying or selling the west metro, that agent is Zach Adams. Zach has helped clients buy and sell 100s of homes in the west metro over the past two decades. He has assembled a world-class team and would love to understand your unique situation and how he can help drive success for your family. A free consultation is a great first step. Contact Zach today to get started at 612.656.9647 or find him online at westmetrohomesearch.com.