TIME TO GET BACK TO BASICS
Although the red-hot market of the past couple of years made folks a lot of money, it also brought about a lot of what I can only call “laziness” in the way that listings were marketed.
When all they had to do was put a house up on the MLS to get multiple offers, many real estate professionals took that route, ignoring best practices and forgetting that, at some point, they’d have to get back to them.
Now, homes are sitting longer, sellers are getting anxious, and some homes that weren’t properly prepared for the market are seeing the results in price reductions and repair requests. In addition, with an influx of new agents coming into the industry over the past couple of years, there are many newly “experienced” agents who have never properly marketed a property.
Not to sound like an old fuddy-duddy, but it’s time to get back to basics and revisit what works to help a property stand out from the competition. Here are some of the things to do so that you come to market with the best, most exciting and “sexiest” product possible.
Manage your expectations upfront
It can be difficult if you are panicking and worried that you have missed the best part of the recent market. You may be rushing to list ASAP, even without properly preparing the property for buyers.
Treat the listing opportunity like a business process review, making sure that you truly understand what is going on with your house in relation to what else is listed for sale and what is currently in escrow. While you may be focused on past sales, due to the market’s current shift, what has recently sold is not always a direct reflection of where the list price needs to be.
Moreover, understand the importance of ensuring that your house is really ready to stand up to the competition. See what else is available in the price range and identify items that need to be repaired or replaced in order to ensure that the home shows at its best.