The home sale success tools that we use include the best of both traditional and high tech elements. We are a hands on pair of Realtors but value automation and online marketing where they can be used to enhance our clients’ experience and bottom line.
Pricing it right is home sale success tool # 1
The most important of the home sale success tools we focus on is pricing. All the marketing in the world and lead follow up will be ineffective if the price is too high. We approach pricing systematically and from several angles to provide you, our seller client, with the best possible data as well as our experience in the market now so that you can make an informed decision. This deep dive on pricing is done after the listing agreement is signed as it takes many hours to research and prepare. (When interviewing without commitment, of course we also provide a preliminary range of pricing.)
- We will pull the real estate market statistics for your home and area (sometimes a subset of a school district, zip code, or other geographical boundary) to pinpoint the pricing of your property’s market. Pulling the data is an old tool, but being able to do so by school boundary or other part of the market requires more tech savvy. If you have seen our Valley of Heart’s Delight blog or our newsletter, you know that we thrive on data and really understanding the market.
- We will reach out to listing agents to learn what is happening with the pending sales (how many offers, and if they will share, the sale price). Not everything is online, and relationships matter. I’ve been selling homes since 1993 and know many of the top producers, and that can help when asking for the favor of pricing information.
- Tied in with your list price strategy is the pre-sale preparation. We will discuss “if-then” scenarios with you, such as “if you do this or that work”, how the list and sale prices would be adjusted. Our goal is that if you spend a dollar, you should make two or three for the effort and investment.
- We will use several other data points as well and review them with you to try to understand the actual trajectory of the market rather than just what has sold at some point in the recent past. Our home sale success tools include 3 subscriptions for market data (which most agents do not have, beyond the usual ones) and use them to our clients’ benefit. Better data means better decisions and better profit.
- Because the pricing decision is so important, we will check the market a few days before the home is open to be seen by all so that we are sure that nothing significant has changed since we provided you the pricing analysis.
Comprehensive marketing program
Our marketing plan factors in the new reality with Covid and expands images and information available online. Many home buyers want to learn everything possible about a home for sale before visiting it in person.
We make that possible through an aggressive and multi pronged approach. Home sale success tools and methods are often, but not always, tech related:
- Pre-sale preparation guidance (we have great resources for handymen, contractors, staging, inspections, etc.) – this will be unique from home to home and often.
- We will work with you to get your disclosures completed thoroughly (strong disclosures prevent future problems and also create confidence in buyers for the home)
- Professional photography and virtual tours allowing an online “open house” at all hours.
- 3D tours by iGuide – this is a cut above what is commonly provided for 3D tours as they offer an easy to read / understand floor plan (which most buyers want) and the floor plan includes room measurements and total square footage. This is something most listing agents do not provide. This tour is embedded into the regular virtual tour, so buyers don’t have to click through a lot of places to get all of the information they seek.
- We will adhere closely to the health guidelines and requirements for showing homes during the pandemic. We will provide hand sanitizer and wipes at each listing, as well as anything else required by the health department (this can be a moving target).
- Online disclosure packages with inspections, disclosures, another other pertinent information.
- Social media marketing on many sites.
- Promotion on my website(s) and, if the timing works, also in my monthly newsletter, which is highly read.
- Online scheduling so that buyer’s agents can show the home quickly and easily (assuming staged and vacant, which recently has become the norm).
- Online or email feedback requests after showings by buyer’s agents.
- 4 Sided color fliers (for awhile, print materials were not allowed, but we do not expect them to be restricted in the future).
- Open houses and broker tours – if permitted under current Covid restrictions.
We are highly responsive with our clients, other agents, and buyers who reach out to us.
There are many other tools and steps, but these listed above are done for all of our listings. (If you are interested in a current marketing plan, please let me know. Some marketing elements may be added, such as open houses or brother tour, but have not always been permitted during the pandemic. Others will come into play due to the property type, price point, location, etc.)
In contract: more home sale success tools
We also have great home sale success tools and systems once a home receives offers and later is in contract or sale pending.
When evaluating multiple offers, we will line up the key terms and pricing in a side-by-side comparison format to make your initial review of the contracts straightforward. There’s a lot of paperwork (the new contract as of Dec 2021 is 16 pages long, and that’s only a part of it), so this has been a really useful tool for our clients.
Once you have accepted an offer on your property, we will watch closely to learn when the buyer’s deposit gets to title and will update you then. We will change the MLS status to reflect the pending status once that happens.
We have a transaction coordinator or TC who communicates with us, our brokerage, the title company, and with the buyer’s agent to assure that all the paperwork is turned in, dates are clear, and that there are no last minute surprises because someone forgot something, like ordering a home warranty or removing a contingency. Another set of eyeballs on the details is always helpful. Communication is key!
After the close of escrow, our TC will provide our clients a file with all of the transaction documents and we will continue to be in touch to assure your total satisfaction.
Related reading from our main blog:
Choosing a home inspector in Silicon Valley
Deciding to downsize: questions to consider
