Hey, Big V here! I’m excited to share some insider secrets on how to sell your home in any market. As real estate markets change, it becomes increasingly challenging to sell properties, but with the right strategies, you can position your home to sell faster and for more money!
Understanding the Basics of Selling
First things first, let’s talk about the basics of selling. Have you ever heard anyone say something like, “Suppose I could show you a way to sell your home in today’s market for top dollar without spending a ton of time or money doing it. Is there any reason you wouldn’t listen?” Using this dialogue is powerful. It creates an environment where the consumer feels comfortable saying “no,” which actually means “yes” in this context.
Selling today is like “combat fishing”. The real estate market is constantly changing, and understanding these changes is crucial.
The Changes in the Real Estate Market
I was reminded of this during a trip to Alaska with my son, Nate, after he earned his Eagle Scout. We went to a conference called The Great Alaskan Adventure, where we’d spend days fishing in the beautiful state of Alaska. One day, we went to the Russian River for some combat fishing. Combat fishing involves a unique technique called the Kenai flip, where everyone in unison flips their fly and pulls it back, hoping to catch fish that aren’t actively feeding but are still catchable.
However, combat fishing with a kid can be chaotic. Nate, being young and impatient, tangled lines and created a bit of a nightmare. The next day, a friend suggested we fish upstream with a guide on private property. This experience was incredible – we caught fish after fish without the hassle of combat fishing.
Moving Upstream in Real Estate
Selling homes in today’s market is similar. Instead of competing with every other agent in the same crowded space, think strategically. How can you move upstream and find sellers without fighting for the same fish?
A Harvard University study revealed that people move due to life events, not just market conditions. They move because they got married, divorced, upsized, downsized, retired, relocated, or changed jobs. Understanding this helps you find potential sellers more effectively.
Winning the Price War and Beauty Contest
To sell your home today, you need to excel in two areas: pricing and presentation. It’s a price war and a beauty contest, and you must win both.
Pricing: We teach a concept called “clock pricing” in our Seller Listing Agent Mastery program (SLAM). Here’s how it works. If you’re comfortable with the house on the market…
- 0-3 months: Price it just below market value.
- 3-6 months: Price it at market value.
- 6-9 months: Price it above market value.
- 9+ months: You’re overpricing it.
Pricing it right – from the beginning – saves time and ensures your home sells for more. Homes on the market for too long start to raise questions, leading to lower offers.
Presentation: Staging a home is essential. Remove personal items so potential buyers can visualize their family living there. Professional staging is an art worth paying for. Additionally, professional photography makes a significant difference. While phone cameras are good, professional photos with the right lighting and angles create an emotional connection online.
Premium Marketing Plans
Most agents use a basic 4P marketing plan: put it on the MLS, an ad in the paper, social media, a sign in the yard, and pray it sells. This is weak. Great agents use a premium marketing plan that actively showcases the home in the best light and gets it in front of more people.
As a listing agent, my job is to create a frenzy around your property. This involves active showings and being present to sell the home. I’ve developed a Seller Confidence System, a checklist of things great agents do to give sellers confidence in a changing market.
Free Resources for Sellers
The Seller Confidence System is part of our shift modules, designed to help you sell your home confidently. Selling your home in today’s market is possible with the right strategies. Remember, it’s all about pricing it right, presenting it beautifully, and using a premium marketing plan. Good luck, and happy selling!Be sure to take a look at my YouTube channel, and in particular, my 9-minute video on “How to Sell a House in Today’s Market” where you can download the Shift Modules: River of Real Estate and Seller Confidence System.
