Did you know that you don’t get the most amount of money on your home sale by pricing it high? In this video, I’m going to show you how marketing and positioning your house correctly can get you top dollar in today’s market. We’ll look at why the first two weeks of listing are key and show you a step-by-step strategy to present your home in the best light.
What Is Positioning?
Everyone wants to get the most amount of money for their home. However, you don’t do this by pricing your home high. Rather, you do it by the right marketing and positioning your house correctly. One of the most common requests I get from my sellers is to put their home on the market for $20,000 more than the market value and go down from there. They want to start a little bit higher than what the home is actually worth.
The truth is that this is not a great idea. The way you can actually get the most amount of money for your property is about how you position your house in the market. But what the heck is positioning? When you’re selling your home, we need to position your house for the ideal client that is looking for a house just like yours.
There are several ways that we can market your house to those people. You also need to position your house against your competition—and I’ll show you exactly how we’re going to do it.
Pricing Your Home Right
The first important thing about positioning your house is pricing. How are you pricing your house in the market against your competition? When you price your property right, you attract a lot more buyers for your property.
With that, chances are you are getting a lot more offers upfront. You can then let buyers start fighting with each other, driving up the price to make sure that they get your home. On the other hand, when you price your home too high, it’s going to start getting days on the market more than the average. This will cause lowball offers from buyers.
The First Two Weeks
When a new house comes on the market, all buyers start rushing to that house to make sure they take a look at it before it goes on the contract with another buyer. It’s this buzz among the buyers that creates a lot of urgency for them to come and take a look at any new listings before you actually go pending.
Because of this urgency, the best chance of getting your home sold is in the first two weeks after it’s been on the market. It’s also the period where you have the best chance of selling for the highest amount of money you can put in your pocket. Have you ever wanted something so bad simply because it’s not available anymore? It’s the same strategy here.
People tend to want the things that they can’t have, and there is no difference in the real estate world. If you price your house way too high and let it sit on the market for too long, buyers think that they have more negotiation room. Which house do you think is going to have more negotiation room on it: the house that just hit the market today or the house that has been on the market for six months plus?
Research And Searching Online
My biggest advice for home sellers when it comes to pricing is that you try to price your home right from the beginning. Look at the market, study the market, see your neighborhood, and look at the comps. You can then price your home accordingly. Remember, you cannot create the new comps because your house is not sold yet. If your house is way above all the comps in your neighborhood and is something super-duper special, we can make an adjustment with our advice.
Another thing that you need to know about pricing is how people actually filter their search with the pricing online. No matter what platform you’re searching on, houses on Realtor.com, Zillow, or any realtor website usually have a search filter by $25,000 increments. This is very important when it comes to how you price your home. For example, people might search up to $275,000 for a home. If you price your home at $276,000, people searching up to $275,000 are not able to see your home.
The Listing Description
The second way to position your home correctly in the market is with the description that is out there for homebuyers. Nobody knows your home better than you do. You need to disclose everything about your house in the description and share all the benefits that your house has with your realtor. When you get your home listed on the MLS and all other home searches out there, this will make sure buyers know exactly what your home is offering,
Additionally, the words that you’re using in the description of your home are very important. For example, if I’m selling an investment property, I have to talk about the cash flow, cap rate, and any of the items that are important for investors.
On the other hand, if I’m selling the house to a family, I need to talk about the school district, the neighborhood, nearby amenities, shopping, and things that are important for families. The key here is that you have to speak to your ideal buyers directly.
Marketing Your Home
The third way to position your house is to market it correctly. We want to make sure that we show your house in front of the buyers so that they’re going to be interested in buying your home. An aggressive agent is going to start targeting the right buyer for any listings that they have.
In today’s market, we have tons of technology and plenty of AI involved. Using these tools, we’re able to target the right audience for the right home at the right time. You want to make sure your agent is extremely knowledgeable about technology and is going after the buyers that will be interested in buying your home.
Just putting a sign out there and waiting for somebody to come to you is an old-school, traditional way of marketing your home. On top of the traditional ways, we should be targeting people on social media, Google search, and any type of internet search available.
Getting Top Dollar On Your Sale
I hope this gives you an idea of how to market and position your house for sale in today’s market. If you have any questions about selling your home or positioning your house correctly to get top dollar for it, I’m always here to help with no obligation. Feel free to reach out, as I would love to speak with you.
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