Learn some special knowledge
agents have that they might not always be able (or willing) to share with their
sellers.
What do the formula for Coca-Cola, the subject of
Carly Simon’s classic song “You’re So Vain,” and selling a home have in common?
They all involve secrets. Although we don’t have the inside scoop on the first
two, we did manage to find some real estate agents who are happy to share some
trade-secret real estate tips. So read on — but shh, don’t tell!
1. Staging changes from season to season
The concept of staging was
once a secret. That cat’s been out of the bag for a while now, but the practice
of staging homes continues to evolve — and it can be much more complicated and
elaborate than simply creating a cozy conversation area in a living room. For
instance, did you know that it’s better to use shorter furniture during summer
months? “It makes the room feel bigger, longer, and in the potential buyer’s
mind, a better fit,” says Brian Pickler, president of Nadeau – Furniture with a
Soul. Another staging secret is to play soft background music during showings
to make a home seem cozier.
2. People love a healthy lawn
Who can resist the smell of
freshly cut grass? Apparently, buyers can’t. Bryan Clayton, CEO of GreenPal,
knows one Nashville, TN, real estate agent’s secret: “She uses our platform to
order last-minute lawn mowing before every showing. I’ve seen her get one
home’s lawn mowed three times in one week.”
3. Pricing-strategy bands are important
Setting the right price so
your home will sell is not a secret, but have you ever heard of pricing within
“bands?” Don Tepper, a Virginia real estate agent, explains: “Buyers who want
to spend $340,000 on a property may look between $325,000 and $350,000. If
that’s the seller’s target market, then pricing a home at $351,000 will result
in a lot of potential buyers missing the listing altogether.” So what’s the secret
solution? Tepper says to price the home at $349,000. If you price it at
$351,000, you’ll get people looking at the band between $350,000 and $375,000.
“Those buyers probably want something fancier or nicer than a $351,000 house,”
he says.
4. You can negotiate your agent’s commission … but should you?
It’s still a secret to many
sellers that they can negotiate their agent’s commission. But it might be a
mistake to do so just because you can. “Often it’s the bad [agents] who offer
to discount their commissions. They are doing this to try and win the
business,” says Thomas Miller, a Washington, DC, real estate agent. In other
words, as with many things in life, you get what you pay for. “A truly
excellent [agent] who executes the transaction quickly and flawlessly and sells
the house at a good price is worth every penny,” says Miller.
5. Black holes exist in real estate listings
People can’t see black
holes; no light gets out, making them invisible. If your listing falls into a
real estate black hole, no one will see it either. “Most cities have listing
black holes — times when listings get lost to weekends of sun, family
vacations, and nonbusiness topics,” says Matt Parker, a Seattle, WA, real
estate agent. If you list right before people go out of town, such as before
Memorial Day or the Fourth of July, your listing may get buried before
potential buyers see it.
6. Exaggerations in listings only disappoint
People on dating sites often
fudge their age or post a photo that makes them look more athletic than they
really are. This works in the short term to capture attention, but when the
face-to-face meeting happens, those exaggerated online claims often lead to
disappointment. The same happens with real estate listings. “If your home is
located near a tiny pond, don’t describe it as if it’s this huge, luxurious
waterfront lake desirable to all,” says Chantay Bridges, a Los Angeles, CA,
real estate agent. “Take what you do have and describe the best features of it.
Otherwise, buyers may be turned off and disappointed.”
7. A listing can’t sit too long
In a hot market, “too long”
for a house to sit unsold is three to four weeks, max. “That’s a sure sign [the
house] is overpriced,” says Miller. If you don’t want to appear desperate by
dropping the value, price the home realistically from the start. “It’s much
better to be in a position where the seller has multiple offers than to get
greedy trying to obtain an unrealistic price — only to reduce it later,” Miller
adds.
8. There is a home-buying month
Many real estate agents mark
February’s Presidents Day weekend as the unofficial start of the housing
season, which runs through September. There is then a steady decline in
activity until the next year. But there’s one month during housing season that
consistently performs better in sales than all the others. Can you guess this
secret month? If you answered June, you would be correct. Housing sales in June
are typically 29% above average.
This post was originally
published here: 8 Home Sale Secrets Only
Real Estate Agents Know
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