4/9/2015

2015 Seller Considerations: Shack or On Track?

The market has finally turned the corner. Sales have picked up, inventory levels are down, and buyers are finally appreciating the benefits of buying now, as opposed to waiting.  Only a few months ago, buyers were demanding desirable properties at bargain basement prices. Now, many buyers are willing to pay the higher prices, but they still want desirable properties.  Your sellers have to respect the fact that buyers still have the ability to pick and choose.

The problems arise when Sellers have a misconception of how desirable their property is to prospective buyers. As their agent, you can walk into a home and immediately identify things that will turn a buyer off.  The trick is to  convey that message to your sellers without offending them. Instead of getting frustrated with your sellers, it’s important to recognize that their home is a reflection of their personal taste. When a homeowner decorates their home, it’s so they will enjoy it. But, when a seller is marketing their home, it’s important to have the home appeal to as many buyers as possible. It’s important to remind your sellers that a buyer is more likely to make an offer, and a higher one at that, if they really like the home, so being a little conservative can help a Seller realize a higher price.

Below are a few suggestions that will help you convince your sellers to make the appropriate changes to properly  market their home.

1. Be Understanding– Recognize that your Seller has seen the same things in their home thousands of times, so it’s easy to overlook obvious negatives.
2. Get A Professional Opinion– Play “Good Guy, Bad Guy”. Don’t personally offer suggestions to your seller. Instead, have a professional with interior design or staging experience make the suggestions. If the Seller gets upset, it will be at them, not you!
3. Get Buyer Feedback– Encourage prospective buyers and their agents to provide your Seller with written feedback about the property.
4. Track Purchases– Don’t just track sales and closings of competitive properties. Make an effort to identify why other properties were selected instead of your seller’s home.
5. Preview Homes– Invite your sellers to pretend they are a buyer by previewing other homes that are competitive to their own.
6. Take Baby Steps– Don’t suggest monumental changes that your Seller can’t afford. Instead, focus on manageable or cosmetic changes that make a difference.
7. Be Prepared– Make sure you arrive early and prepare it for a prospective buyer to see by turning on the lights and checking for cleanliness and neatness.
8. Consider Staging– If the home is empty, and your Seller can afford it, suggest they invest in professional staging.

Keep in mind, it’s a the little things you do for your seller that will allow you to be successful marketing your sellers property.