When we meet a client to sell their home, there are really only FOUR things that matter when it comes to getting the best possible result for them.
Talking about these four things, one-by-one, and coming up with a clear plan in each quadrant, is a major step forward towards a successful sale.
Here they are…
If you get those right, you win.
It’s simple, right?
Let’s talk about each element individually.
PRICE is somewhat market-driven. Usually you need to be within a range of value… we call this the goal posts. When you look at any list of sales, there will be a group of sales that justify a higher asking price, and some sales that justify a lower price.
Very rarely does all of the information line up towards an exact, precise figure. Plus, historical data about sales doesn’t always tell you about today’s market, or what’s likely to happen in the future.
Which is why we look at the next element…
TIMING is all about your competition, the number of buyers looking, and the overall market dynamics.
Are there a lot of homes for sale? Then that might mean you list closer to the lower goal post. Not a lot of competition? That often means you’ll sell for a very good price towards the higher goal post.
Maybe you have the kind of home that has an off-season and an on-season – like a cottage – where the sales are all happening within a few months.
For the most part, pricing and timing are usually out of your direct control. You can’t help when the neighbour a few doors down got a job transfer and sold for less than their potential, and you can’t control how many other homes are for sale at any given time.
This means that a seller’s biggest opportunity is in the third and fourth elements — appearance and marketing!
Both appearance and marketing are elements WE have direct control over. We (agent and seller) can influence the success of these two parts with proven success models.
Appearance is about how well your home appeals to your target audience. It doesn’t necessarily mean staging, although it has become a much more popular option in the last ten years.
Clean, clutter-free and bright homes always sell better than dirty, cluttered and dark homes.
Marketing is about the number of eyeballs who see your home. Many people believe you sell a home using the 3 P’s: Put a sign on the lawn, put it on the MLS, and pray someone sells it.
But there’s so much more opportunity with targeted social media ads, video and drone footage, local neighbourhood flyers, targeted messages to real estate agents, open houses, and lots more.
Our goal at the Charlton Advantage Team is to get at least TEN TIMES as many eyeballs on our listings compared to Realtor.ca, which is the largest real estate site in Canada. If we do that, then the chances of getting more interest, possibly more offers, and selling the home in less time all become very likely.
Keep in mind that when ONE of these elements is off, you’ll have some challenges selling and your results may go down. Sometimes it’s within your control, and sometimes it’s not… as we mentioned above. You can’t help when a large number of new listings come out at the same time as your listing.
If TWO of these elements are off, there are VERY high odds that you won’t be able to sell your home.
The next time you are considering listing your home for sale, remember these four elements, and come up with a great plan for each one to stack the odds in your favour!