A Few Words On Attracting Offers For Your Home
Remember when you could whisper about listing your house and your trusted real estate agent already had like 10 buyers in the hopper? Well…yeah…with absolutely crazy historically-low mortgage rates, who wasn’t buying homes then? Now that we’re seeing rates in the 7, 8, & even 9% range (yeah), buyers are a little less excited to fight over houses.
Here's the good news if you’re thinking of selling: home inventory still remains low, so your home will still sell. In my previous videos & blogs I’ve discussed the Top 5 Ways to Maximize Profit When Selling Your Home and even discussed whether it’s time to Make-over or Move with strategic upgrades. Today, let’s talk about ways to ATTRACT the best offers on your home.
With 20 years in the real estate business under my belt, I can tell you from experience that in a market like this….homeowners who go the extra mile are more likely to sell faster and for a higher price.
If you are even considering listing your home for sale, my team and I as well as my nationwide network of agents would LOVE to answer any questions you have and of course help you net the most money possible with the absolute least amount of hassle. So, let’s discuss how to attract the best offers for buyers in today’s market.
1. TWO WORDS: PRE-LISTING INSPECTION
Yes, most buyers have their own inspection during the contingency period of your contract…but how do you make your home stand out in a crowd? How do you quell the pain of the higher rates? You show buyers that you’re delivering the goods in good condition by having a pre-listing inspection.
Here’s a couple perks to the pre-listing inspection:
a. You know out-the-gate any big-ticket items that might impact your net proceeds. It doesn’t mean you have to address them prior to listing or even closing, but at least we know what we are working with.
b. Sharing a pre-listing inspection shows interested buyers that you’re committed to a transparent transaction. That doesn’t mean negotiations are off the table, it just shows that you’re exactly who you say you are, you are great to work with, and you’re committed to getting to the closing table.
By the way, negotiating deals is probably my favorite thing about real estate. It’s like chess, in a way. I tell my team and the agents I coach & mentor: it’s not a death battle royale…it’s more like a tightrope walk, and the more you realize that concept, the more successful your real estate transactions will be.
Anywho…. here in Florida we have inspectors we can recommend for your pre-listing inspection and even help you if that inspection identifies any concerns. We can advise on which items need attention before you list your home or at all. Remember, whether you buy or sell in 3 weeks, 3 months, or 3 years…we are here to HELP. Every step of the way.
2. TWO MORE WORDS: STAGING SELLS
We live in an Instagram world, and I’m an Instagram girl…but seriously, you need to standout to get standout offers. And buyers who are seriously looking are used to scrolling through Instagram houses, so you have that to compete with.
That’s where home staging comes in. Staging can include everything from decluttering and packing away personal items to bringing in neutral furniture and accessories for photos, showings, & open houses. Staging is a strategic marketing tool to help buyers imagine themselves living in your home and is intentionally designed to create emotion in every single space.
According to the National Association of Realtors, home staging can both increase the dollar value of home offers and help a property sell faster. In fact, 83% of seller’s agents agree that staging decreases the amount of time a home spends on the market, and 44% of buyer’s agents see higher offers for staged homes.
For our sellers we offer a free staging appointment and also have this handy dandy Guide to Staging With Your Own Stuff. There’s plenty of strategy and research behind the process, so if you’re interested in the Guide or are curious about staging in general, reach out and let’s connect about how staging can help your property show its full potential.
3. THREE WORDS: PRICE TO SELL
I know it’s so tempting to list your property at the highest possible price, but that approach can backfire. Homes that are overpriced tend to sit on the market and homes that sit on the market have this psychological effect on buyers where they wonder, ‘what’s wrong with that house?’ It reduces the amount of showings and eliminates opportunities for offers.
Pricing to sell is pricing either at or slightly below market value and when you’re priced to sell and your home is in great shape, it can ultimately lead to a higher sales price and fewer concessions. To help you list at the right price, we will do a comparative market analysis, or CMA. This integral piece of research will help us determine an ideal listing price based on the comparable properties that have recently sold in your neighborhood.
Without this data, you risk pricing your home too high (and getting no offers) or too low (and leaving money on the table). Combined with our local market insights, we’ll help you find that sweet spot that will attract the best offers while maximizing your profit margin.
4. THREE MORE WORDS: OFFER BUYER INCENTIVES
Hear me out: sometimes, sweetening the deal with buyer incentives can help you get the best possible offer. Incentives are really helpful in today’s market as many buyers are struggling with affordability and are concerned about their monthly payments.
You can offer to pay the HOA fees for a year, or give them closing costs credits, or even market your home with the incentive showing buyers what your contribution to buying down their rate can do for their monthly mortgage payment. That’s a crowd favorite, for sure.
The key, remember, is to attract offers and that’s why I’d never recommend you simply give up any of your net proceeds, but rather would be happy to talk through strategy and what buyer incentive options might make sense for you to achieve your goals.
5. FOUR WORDS: STRATEGIC ACTIVE MARKETING PLAN
You have to do more than post a sign in the yard and pray these days. We do that too, of course, but truly, a strategic active marketing plan is essential to get your home in front of as many interested and qualified buyers as possible.
Buyers who don’t know about your house can’t make an offer, right? That’s why we utilize a multi-step approach to marketing that starts with identifying your target audience, effectively positioning your home in the market, and communicating its unique value with boots-on-the-ground neighborhood canvassing coupled with incredible digital marketing. With digital marketing, we use a variety of distribution channels to connect with potential buyers and performance-based metrics to monitor and improve our campaign results.
I’m the Marketing Mama for #AllThingsRealEstate and I can assure you that the key to success in real estate is successful marketing. Our proven approach can have a big impact on the success of your sale. Reach out to learn more about our multi-step marketing plan and discuss how we can use it to generate interest and offers for your home.
AND FOUR MORE WORDS: LET’S SELL YOUR HOUSE!
Are you ready to get a great offer for your home? Our decades of experience, marketing prowess, and proven multifaceted approach is designed to deliver results with less hassle. Even if you just have questions, we’d love to hear from you. Please reach out for a free home value assessment and customized sales plan to get started!
855.4YO.MAMA
Much love,
Amanda, The Marketing Mama
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