Best Real Estate Sales Advice
Understanding how to sell a house is straightforward. Home sales are not rocket science.
After being in the Real Estate business for the last thirty-eight years, I have been involved in all types of markets. I have been through boom times and the most extreme buyer’s markets you could ever imagine.
With these experiences, I have continued to learn what makes a home sell for the most money in the shortest period with the fewest headaches.
When I interview a potential seller client, I like to share what works and what doesn’t. I am also candid, even if it is not what the homeowner wants to hear. A “yes” man will never be a great Realtor.
Following time-tested advice can help sell a home. Some things work repeatedly in home sales. If you have a system in place, your goals can be accomplished quickly.
Knowing the proper steps to take can help you accomplish your goals.
Whether you are a first-time home seller or someone who has experience, you can benefit from the advice. I will share my knowledge and experience from nearly forty years as an agent.
If you do what I tell you, you’ll be primed for a fast house sale. You’ll be able to move onto your next home with ease.
Keeping this in mind, here are the best home-selling tips for Real Estate.
Avoid Overpricing Your Home
The best home-selling advice I can give any client is to price the home correctly coming out of the gate. This is the best home-selling tip: if every homeowner followed, they would have more money in their pocket!
Overpricing a home is one of the hardest things to overcome. I always tell people that the price you set for a home is 80% of the marketing. What do you mean by that, Bill? If you set the wrong price, all your other efforts to sell the home will be meaningless. This is why most homes don’t sell.
The best online marketing, fantastic photography, beautiful brochures, and fancy video tours don’t mean squat if you help sell the competition by overpricing YOUR home.
One surefire way to prevent your home from selling is to list it at a price the market will not bear. Most people don’t like to overpay for any purchase, never mind one as significant as a home.
Selling a property can become an emotionally charged event. Many people consider their homes an extension of their identity and lifetime memories.
Our homes are where some of our most meaningful events and memories occur, from holiday gatherings, birthday parties, and the baby’s first steps to simple things like family meals. These are all extraordinary things to many of us.
Make Your Sale a Business Transaction
However, you must remove emotion when selling a home and treat it strictly as a business transaction. Trust me, I know this can be hard to do!
Remember that market value is determined by what a motivated and qualified buyer is willing to pay for your home, not simply what you feel it should be worth.
Carefully looking at comparable sales data is very important. The last thing you want as a seller is to let “the days on the market” inflate. I can tell you with certainty that every buyer will ask their Realtor how long the home has been on the market.
Buyers do this because they want to know how much they can negotiate.
A home on the market for a long time invites lower offers. Over the years, I have met numerous sellers who have explained they want to try a higher price because they have all the time in the world to sell.
Folks, this is incorrect thinking. In Real Estate, time is your enemy, NOT your friend. The longer it takes to sell your home, the fewer dollars you will put in your pocket.
Without question, the number one home-selling tip that any Realtor should give their client is to price the home correctly from day one! A competent agent’s accurate comparative market analysis will determine the home value.
You Need a Robust Marketing Plan
One of the things every seller should know is the importance of a well-coordinated marketing strategy.
Creating a robust marketing plan for selling a house involves a multifaceted approach. It combines traditional and modern digital strategies to maximize exposure and attract potential buyers. The best real estate agents will have this nailed down to a science.
Understanding how to sell a house means knowing the marketing.
Here’s a comprehensive marketing plan that your agent should provide when selling. You should expect many of these items depending on the type of house you’re selling.
Services Provided By Agents
Professional Photography and 3D Tours: Invest in high-quality photography to showcase your property’s best features, including small details and neighborhood attractions. 3D tours allow buyers to walk through the property virtually, providing an interactive viewing experience
- Video and Virtual Tours: Include video tours of the property. Simple walkthrough videos shared on social media platforms can significantly increase visibility.
- Aerial Photography: Use drones to capture aerial images and videos of the property and its surroundings, highlighting nearby attractions and its layout.
- Comprehensive Online Listings: Ensure the property is listed on the MLS and major real estate websites such as Zillow, Realtor.com, Redfin, and Trulia. Detailed descriptions and quality photos are crucial.
- Personal and Company Websites: Feature the listing on your personal and brokerage websites with custom URLs for each property, providing detailed information and easy access for potential buyers
- Social Media Marketing: Leverage platforms like Facebook, LinkedIn, Instagram, TikTok, and YouTube to share listings and engage with potential buyers. Customize content for each platform to increase reach.
- Real Estate Signage: Place well-designed real estate signs on the property to draw local attention and promote open houses or direct inquiries
- Digital Advertising: Create targeted ads on Facebook and Linkedin, using their data on users to reach potential buyers effectively
- Content Marketing: Write blog posts and create videos for your website and YouTube channel, showcasing current and former listings to build your brand and attract future clients.
- Professional Video Production: Include professional video tours in your marketing materials and share them across multiple platforms for increased engagement.
- Budgeting and Analytics: Allocate your marketing budget across different strategies, including print and digital marketing. Use real estate software and tools for lead generation and nurturing, and track your spending to ensure ROI.
- Know Your Audience: Understand the demographics, home prices, market trends, and client types in your target area to tailor your marketing strategies effectively.
The Importance of Photography and Listing Descriptions
Real estate photography and well-crafted listing descriptions play crucial roles in the sales process of a house due to their significant impact on attracting potential buyers and engaging their interest in a property.
Importance of Real Estate Photography
- First Impressions: Most homebuyers start their search online, scrolling through listings. The photographs of a property are often the first impression they have of a home. Quality real estate photography captures a property’s best features, presenting it in the best light and making it stand out among other listings.
- Professional Appeal: Professional photographers know how to showcase a property in its best lighting, taking photos from angles that highlight the home’s best features. This expertise can make all the difference in how potential buyers perceive a property.
- Marketability and Speed of Sale: Studies have shown that homes with professional photographs sell faster and for more money. For instance, a study by the National Association of Realtors found that homes with 20 photos spent 32 days on the market, compared to 70 days for homes with just one photo. They also found that 89 percent of potential buyers felt the pictures were the most essential aspect of home sales.
Importance of Robust Listing Descriptions
- Engagement and Information: A compelling listing description draws potential buyers in by providing them with essential information about the property’s best features in an engaging way. It complements the visuals supplied by photographs by giving context and highlighting unique selling points that might not be immediately obvious from images alone.
- Emotional Connection: Well-written descriptions can evoke emotions and help buyers visualize living in the home. They can distinguish between a buyer deciding to inquire further or moving on to another listing. It’s about speaking directly to the reader and appealing to the lifestyle and benefits the property can offer them.
- Detail and Clarity: A detailed and precise listing description helps to set accurate expectations for potential buyers. It serves as a tool to inform and attract buyers looking for specific features in a home, thereby increasing the chances of attracting inquiries.
Combining Photography and Descriptions
Combining high-quality real estate photography with compelling and detailed listing descriptions creates a powerful marketing tool. The visuals grab attention and make a solid first impression. The descriptions provide depth and context. They help buyers understand the total value of the property.
This combination significantly enhances a property’s marketability, potentially leading to a quicker sale at a better price. All the marketing materials left at the home will provide buyers with an exceptional experience.
I always emphasize to my clients the importance of both elements in creating an effective listing that stands out in a competitive market.
By focusing on quality photography and robust descriptions, sellers can significantly improve their chances of attracting potential buyers and selling their homes more effectively.
Don’t Neglect Necessary Home Repairs
In a challenging Real Estate market, otherwise known as a “buyer’s market,” a home’s condition becomes critical. In this environment, the homes that need work are the ones that take a beating at the negotiating table. Buyers today are spoiled.
They do not want to lift a finger. Buyers want to move into their homes, and that’s it. They look for turn-key properties where owners have taken pride in their homes.
If you put yourself in the customer’s shoes for a moment, it would probably be easy enough to see why they won’t settle for a home they need to invest a significant amount of time and money into when they can go down the street and find something else without these headaches.
If you have any issues, be prepared for a second round of negotiations after the buyer does a home inspection. In a buyer’s market, a home inspection is often used as an opportunity to renegotiate the deal.
This makes it imperative to keep up with your property to get top dollar. Right or wrong, a buyer will try to maximize the best deal they can get. When you have not prepared for the home inspection, the door has been left open for a buyer to seek more from you.
Buyers will often ask for a seller concession or for you to make the necessary repairs.
Neglecting To Stage and Prepare For Sale
There are times when some folks don’t have the money to make repairs for some significant items. This is where the appeal and showing the condition of the rest of the home become critical.
First and foremost, the home should be cleared of clutter and unnecessary items. The term “de-cluttering a home” is often used in Real Estate circles.
If you cannot put the items in the home to maximize their appearance, I suggest storing them. You can rent a storage unit or get a temporary solution such as PODS.
PODS are containers that allow you to store items on your property in a compact container.
Following the advice outlined here, you can stage a house yourself. Staging your property can significantly enhance its appeal, translating into more pocket money.
Best Home Staging Tips
Best Home Staging Tips- Declutter Each Room: Remove personal items, excess furniture, and clutter to make spaces appear larger and more inviting.
- Deep Clean the Entire Home: Ensure every corner of the house is spotless, including windows, carpets, and hard-to-reach areas.
- Neutralize the Decor: Opt for neutral colors for walls and furnishings to help buyers envision themselves in the space.
- Highlight the Home’s Features: Accentuate the best features, whether a fireplace, high ceilings, or natural light, making sure they stand out.
- Fix Any Minor Repairs: Address small issues such as leaky faucets, loose doorknobs, or chipped paint to improve overall appearance. Here is a list of items you shouldn’t fix as they have limited ROI.
- Optimize Lighting: Use a mix of overhead, ambient, and task lighting to brighten the home and make it feel warm and welcoming. Keep all your blinds and curtains drawn for maximum natural sunlight.
- Rearrange Furniture: Place furniture to maximize open space and flow, demonstrating functional use of areas.
- Set the Dining Table: A nicely set table can suggest a space where families can gather, adding an element of lifestyle appeal.
- Enhance Curb Appeal: First impressions matter, so ensure the exterior is tidy, lawns are mowed, and plants are well-kept. According to The Close, the exterior is the first thing potential buyers see, so making a solid first impression is essential. I agree. You can hear the oohs and ahhs when the exterior pops.
- Use Minimal Decorations: A few strategically placed vases, books, or art pieces can add charm without cluttering spaces.
- Create a Sense of Comfort: Soft textiles like throw blankets and pillows can make the home feel cozy and lived-in.
- Neutralize Odors: Ensure the home smells fresh and clean; avoid strong scents that might be off-putting to some buyers.
- Define Each Space: Clearly show the purpose of each area, whether it’s a home office, bedroom, or entertainment space, to help buyers imagine living there.
You’ll Get Results
Implementing these staging tips can significantly enhance the appeal of a home, making it more attractive to potential buyers and possibly increasing the sale price.
Ensuring your home shows well is a necessity in a competitive market.
If you don’t have the time or the inclination, you may want to hire a professional home stager to put your home in showplace condition. A professional stager can transform a run-of-the-mill home into something special.
According to Moving.com, costs can vary, with an average ranging from $1,000 to $3,000 for professional staging, depending on the services required.
How Much Will Staging Impact Your Home Value?
The impact of home staging on the value and sale speed of a house has been widely studied. The consensus among real estate professionals is that it significantly benefits both.
According to the National Association of Realtors (NAR), staging a home can help buyers visualize the property as their future home, with 81% of buyers’ agents affirming this view.
Moreover, 20% of buyers’ agents reported that staging a home increased the dollar value offered by buyers between 1% and 5% compared to similar homes that were not staged.
Further research and surveys reinforce the value of home staging. The Home Staging Institute highlights that over 65% of realtors surveyed believe home staging helps a house sell for more money, with the majority estimating the price increase from 1% to 10%.
Notably, 21% of buyers’ agents agree that staging a home can increase its value by 6% to 10%
Staged4more provides an in-depth look into the return on investment (ROI) of home staging. They noted that 22% of sellers’ agents observed a price increase of 1-5% due to staging, while 17% reported increases between 6-10%.
Coldwell Banker’s survey further supports these findings, indicating that staged homes can sell for more than 6% above the asking price.
These statistics underscore the effectiveness of home staging in accelerating the sale process and potentially increasing the property’s sale price. With significant numbers of buyers’ and sellers’ agents recognizing the benefits of home staging, it’s clear that the investment in staging can offer a considerable return.
It makes homes more appealing to potential buyers and enhances their perceived value.
Painting Offers an Excellent Return on Investment
One of my favorite recommendations to potential home sellers is painting. Painting a few rooms or doing touch-ups in high-traffic areas enhances a home’s appearance.
If needed, painting can bring the biggest bang for your buck. First impressions in home sales are critical, and since painting is relatively inexpensive, I would consider this one of the top home-selling tips for changing a home’s appearance.
A fresh coat of paint on walls and woodwork can dramatically improve a home’s feel.
You will want to stay as neutral as possible with your color selections. Light earth tones work well when selling a home. Remember, you want your home to appeal to the masses!
Don’t get caught up in selecting colors that appeal to you. Remember, you are making selections based on selling.
Often, sellers forget this and make choices based on their taste, which does not appeal to most people. This is why many national home builders hire professional decorators to assist with the design and staging details.
One last tip is eliminating any odd decor items that may appeal to your unique style but appear strange to buyers.
Getting Hung Up On The Small Stuff
Another excellent tip is not to lose sight of the goal of selling your home! In my career, sellers sometimes get worked up over the most minor issues.
It could be that the buyer has just rubbed them the wrong way, and because of this, they lose focus. A few times over the years, I have seen sellers almost blow an entire deal over $500.
When selling your home, you must consider the big picture rather than getting hung up on something small. For example, is it worth blowing the sale over a cheap repair?
Turning A Business Issue Into An Emotional Issue
As previously mentioned, a home sale is just a business transaction. However, making this distinction can often be challenging when you have invested so much of yourself and your finances in your home. On some occasions over the years, I have had clients who didn’t like the people buying their homes.
I have had to gently remind them that they will not have to deal with the buyer for very long and will soon be moving on with their lives. Don’t let your emotions prevent you from selling your home.
If you don’t like the buyers, does it matter as long as the terms are in your favor? Keep the big picture in mind, and get to the closing table!
Trying To Sell For Sale By Owner
Nationally, over 80% of all homes listed “for sale by owner” fail to sell and then end up listing with an agent. This is an abysmal success rate, which worsens in more challenging times.
There are many reasons why so many real estate properties for sale by owners fail. These include improper prices, lack of marketing, and accessibility to the home, among others.
There can be exceptions, such as when you are in a great area with high visibility, such as a main road.
If you decide to “go it alone,” remember that you are responsible for screening everyone who sees the house and for being available during the day for showings.
When selling by the owner, you must also ensure the buyer is qualified. It would help if you understood the difference between a mortgage pre-qualification and a pre-approval letter.
There is a massive difference between these two mortgage terms. When selling a home, you should ensure the buyer has been pre-approved for a loan.
A pre-qualification letter does little to prove the buyer can procure a mortgage for your home. This is a home-selling tip you do not want to overlook! A real Estate agent can and will handle these details for you.
Choosing The Wrong Realtor
Other than overpricing their homes, the next biggest home-selling mistake many consumers make is picking the WRONG Realtor to represent their best interests.
Being successful at selling homes is as much about avoiding mistakes as it is following sound advice.
The problem is that many people think all Realtors do the same things to sell homes. This could not be further from the truth! Trust me, there are some great agents and others that are clueless.
If you choose the wrong Realtor to list your home, it is a difficult mistake to overcome during the sales process. Run the other way if the agent has a pushy or argumentative personality!
Above all else, choose an honest and ethical Realtor. You want someone who values the code of ethics in real estate.
Don’t Pick The Agent With a Misleading Price
Some Realtors will mislead you by giving you an inflated value for your home to get you to list the house with them. They then browbeat you for price reductions for the remainder of the contract until the home sells.
Primarily, you want someone friendly, loyal, honest, and who has your best needs in mind. Having someone who knows market values inside and out is crucial.
The Realtor you hire should ensure you understand what homes you are competing with and which recently sold homes.
Lastly, an agent with excellent marketing skills is worth their weight in gold. Make sure the Realtor you choose knows how to market your home online. This should be a critical piece of the agent selection process.
Asking great Real Estate interview questions of the Realtor can go a long way in selecting a real pro! Real Estate agents are a dime a dozen. Since there are so many, it is easy to make the wrong selection.
Do your homework like you would when selecting any other contractor.
Qualities The Best Real Estate Agents Should Have
The best traits of a quality real estate agent are multifaceted, focusing on both professional competencies and interpersonal skills. Look for someone with most of them, and you’ll be assured of a successful sale.
Understanding how to find a local Realtor with these traits is essential.
The best agents navigate the real estate market’s complexities and easily foster successful transactions.
Here are the key traits that define a quality real estate agent:
- Local Knowledge and Attention to Detail: It is crucial to understand the local real estate market and pay attention to the details of contracts and client needs.
- Strong Communication Skills: Effective communication, including listening and conveying information clearly, is essential for understanding client needs and navigating transactions.
- Negotiation Skills: The ability to negotiate effectively on behalf of clients, ensuring the best possible terms and outcomes.
- Honesty and Integrity: Being truthful and transparent with clients builds trust and fosters long-term relationships.
- Enthusiasm for Learning: The real estate market is ever-changing, so a willingness to continuously learn and adapt is vital.
- Effective Networking: Building and maintaining a solid professional network can provide valuable resources and opportunities for clients.
- Detail-Oriented: Attention to detail can prevent mistakes and protect client interests throughout the buying or selling process.
- Tenacity: Real estate requires perseverance, from finding the right property to closing deals under challenging conditions.
- Tech-Savviness: Proficiency with current technology and real estate tools can enhance marketing efforts and streamline transactions.
- Hardworking Attitude: Success in real estate demands significant effort, from conducting property searches to marketing listings and closing sales.
- Self-motivation: A self-motivated agent with an entrepreneurial spirit is essential for driving business success and achieving client goals.
- Professionalism: Investing in education, respecting clients, and consistently working to grow their business are marks of a professional agent. You can often tell by the way an agent carries themselves and dresses.
These traits combined make for a real estate agent equipped to handle the logistical aspects of selling property and committed to providing their clients with the highest level of service.
Selling At The Wrong Time
Selling with lousy timing can happen in a few different ways:
- You decide to sell your home but have nowhere to go.
- You put your home on the market immediately before you have to move.
- You decide to sell at the wrong time of year.
You should focus on the best time to sell in your area and be ready for that period.
If you don’t know where you will buy next, it is probably not the most incredible idea to put your home on the market unless you can no longer afford it.
The inevitable outcome of listing too soon is that you will get an offer from someone who wants to move into the home immediately.
You will then be forced to reject the offer or move to temporary housing. The flip side is finding a home you love and then being unable to buy it because you haven’t sold your home.
It’s never too early to contact a Realtor and ask when you should list your particular needs and timing. We sometimes have clients who spend too much time getting their homes ready to sell and end up missing the big selling window in our market.
Don’t spend too much time preparing your home for sale, as you may miss the primary selling season. The best time to sell a home in Massachusetts is in the Spring.
Not Giving Buyers Access or Having Accompanied Showings
Home buyers should not be made to work around your ideal schedule. If it is a reasonable time of day, LET THEM LOOK. Even if things are in disarray, let them look.
Even if the buyer’s agent doesn’t give you notice, let them look! Every showing you miss is a lost opportunity you may NEVER get back.
I can’t even count how many times a seller refused a showing over the years, and a buyer never returned to the house because they found something else before doing so!
Although we like Realtors to call for showings the day before they happen (or at least several hours ahead of time), there are times when a buyer will spot a sign or see something online and want to see it right away.
Sometimes, this is the home they end up buying. Keep that in mind when you have your home listed.
Showings Should Be Easy
Make showing your home as easy as possible. DO NOT require accompanied Real Estate showings. Realtors do not sell houses. Homes sell themselves!
A home purchase is an emotional transaction – NOT a sales pitch. Click the link to see why buyers do not need or want a listing agent present at the showing. Not having a listing agent present for the showings is one of the top home-selling tips many homeowners don’t realize.
You should also vacate the home. At the very least, go for a walk so the buyer can feel comfortable speaking to their agent privately. Buyers never feel at ease when you are in the home hovering around them.
Let them look on their terms, not yours. If you are concerned about valuables, lock them up somewhere. Most importantly, a lockbox is highly advisable! Don’t make a Realtor NOT want to show your home.
Buying The Wrong Home In The First Place
A good buyer’s agent is necessary for a customer to make an intelligent decision. After all, you will probably be selling the home at some point.
While you can undoubtedly think independently, an excellent buyer’s agent will advise against making a foolish investment.
Being near a hazardous waste site or a loud highway might not be the right decision. When it comes time to sell, you will be glad you listened.
Conclusion
Following all the advice will significantly increase your chances for a smooth and effortless home sale.
When you utilize these steps, you’ll be in the best position for a timely home closing. You won’t need to use a St. Joseph statue or start praying to get your home sold. Believe it or not, many people follow these superstitions when they’re not having success.
Everything will fall into place, regardless of the type of real estate market. If you are in the Metrowest, Massachusetts, area, and plan on selling your property, I would love to help. Feel free to contact me anytime.
Best of luck!
Additional Top Home Selling Tips Worth Reading:
- The ten best-kept secrets for selling your home via HGTV.
- How to prepare your house for sale by About.com.
Use these top home-selling tips and advice to sell your home quickly and for top dollar. Following the advice will almost guarantee a stress-free real estate transaction.
About the Author: The above Real Estate information on how to sell a house was provided by Bill Gassett, a Nationally recognized leader in his field. Bill has expertise in mortgages, financing, moving, home improvement, and general real estate.
Learn more about Bill Gassett and the publications he has been featured in. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-625-0191. For the past 38+ years, Bill has helped people move in and out of Metrowest towns.
Are you thinking of selling your home? I am passionate about real estate and love sharing my marketing expertise!
I service Real Estate Sales in the following Metrowest MA towns: Ashland, Bellingham, Douglas, Framingham, Franklin, Grafton, Holliston, Hopkinton, Hopedale, Medway, Mendon, Milford, Millbury, Millville, Natick, Northborough, Northbridge, Shrewsbury, Southborough, Sutton, Wayland, Westborough, Whitinsville, Worcester, Upton, and Uxbridge MA.
