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How to Sell Your Home
In today's Colorado Springs real estate market, selling your home for top dollar can be a real challenge. There are so many other homes on the market, how do you distinguish yours from the crowd? Buyer's have the pick of their litter right now. So the question is: What are the hot buttons that get Buyers to buy YOUR home and not the one down the street? We're pulling back the curtain at Colorado Springs Team to share with you the Secrets to Successfully Selling Your Home. These are the very same methods WE use to get our Clients' Homes sold for top dollar in today's market.
There are 2 major hurdles you have to pass to get anyone to buy your home. They are Emotion and Logic. Initially, most buyers make their decision based on how the home "feels" to them. When you start to hear snippets like "This house feels so warm" or "It feels like home", you know you're on the right track.
The key to getting Buyers to respond this way is called "Staging."
Staging a home first and foremost means cleaning and organizing it. Buyers want a home that's move-in ready. They don't like clutter or lots of ornaments all over the walls. Create a blank canvas so they can use their imagination. Make it easy to visualize putting their furniture and decorations in the home. This will help you get passed that first hurdle and give them a head start to jumping the next one.
Once you've staged your home, its time to show the rest of the world how wonderful it really is. Since today's Buyers do most of their searching on the internet first, the way you convey all the feelings evoked through staging is by pictures.
Professional Real Estate Photography uses a wide-angle lens to truly capture the size of your home. Where most digital cameras can show just a Bed and a Wall, wide angle lenses can show-off 2 Walls, your Bed and lots of floor space. So instead of making your Master Bedroom look small and cramped, Professional Photography can capture the Large, Open Master Suite they way you naturally see it.
Buyers determine which homes they want to see based on the pictures and the price. There are 2 ways to really encourage them to see your home in person (Showing.) Average or No Pictures + Low Price = Good # of Showings Great Pictures + Smart Price = Good # of Showings An average price with average pictures gets you a low number of Showings (you don't stand out from the crowd.) A high price with great pictures also gets you low Showings, while a High price with Average Pictures ensures you get little to no Showings.So if you want to get top dollar for your home, take Great Pictures and Price it Smart.
The second major hurdle in selling your home is the price. The "feeling" of your home helps you get passed the Emotional hurdle in a Buyer's decision to purchase. The other major part of a decision is the Logical side. This is where the Buyer can justify his or her "feelings" for the home.
The Price of the home appeals to the Logical part of the Buyer.
So how do we determine price? Most people start with the idea of value. You can determine your home's "Value" by seeing what other homes similar to yours have recently sold for. If you average out the selling prices and adjust for the differences in the homes, you reach its Current Market Value. Current Market Value is generally easy to determine. We can now use this to determine a Smart Price. In a seller's market, values are going up (because homes are selling for more and more.) So you can start with your Current Market Value as your Price and it will sell quickly (since there are more people wanting to buy than there are homes for sale.) In a Buyer's Market, values are generally moving down because there are more homes on the market than people that want to buy. If you start your Price at your home's Current Market Value, you run into 2 problems. First, there are a lot of other homes on the market with the same idea. That means Buyers have a LOT of choices and yours won't stand out in the crowd. The second problem is that your home value will be slightly less in a few months than it is now. So you'll have to lower your price just to keep up with market value. The longer your home remains for sale in a Buyer's Market, the more you'll have to reduce its price to keep up. And the longer your home stays on the market, the more likely you'll get very aggressive (low) offers from buyers. This becomes a vicious cycle that ends up costing you a lot of money in both the final sales price of the house as well as several extra monthly mortgage payments. The smart way to price your home in a Buyer's Market is to price it just below Current Market Value. Your home will stand out as the "Deal" in the neighborhood and attract a lot more buyers. This can save you months on the market and thousands at the closing table. So here's our formula for determining Price in a Buyer's Market: Smart Price = Current Market Value - Small Adjustment
What's the secret to getting a lot of Buyers to see your home?
Market where they're looking!
In 2007:
Find ways to get your home in every searchable nook and cranny on the internet. The keyword here is "Searchable." There are parts of the internet that are like giant black holes where nobody goes. You have to either find ways to get your home great visibility on the internet or find websites that will do it for you. |