Did you know that you don’t get top dollar for your home by listing it for a high price? In this video, we’re going to discuss how marketing and positioning will get you the most money on your home sale. We’ll discuss 3 ways to position your house properly to ensure we get every penny in a reasonable amount of time.
Understanding Positioning When Selling Your Home
The first question you want to ask yourself is: do I want to sell my house for top dollar, or do I simply want to sell it fast? Many people think the answer to both includes pricing their home higher than the current market. Most think that this “testing” of the market will get them the most money, but it’s actually not a good idea—and could instead hurt you. The real key to selling your home is not the price but positioning your home for the public.
What’s positioning? When we sell your house, we want to properly position your home to the right buyer. When you’re looking to buy anything, you look at the package, the product, and the price. It’s no difference in real estate. The key is connecting your home emotionally with the right buyer, and then creating urgency around it.
Creating Urgency With Pricing
The fastest way to create urgency around your listing is where you price it at. The first two weeks of selling your home are where you’re going to get the most activity coming through your property. That’s where we’re going to get top dollar.
Why do we get the most activity in the first two weeks? Simply because you’re new on the block, and buyers don’t want to lose out on what’s new. Making sure that we price it right is important to get as much traffic coming through the house as possible. We know that fear of losing out is a big deal with buyers, and we want to take advantage of that.
When you overprice your home and don’t position it correctly, buyers tend to think that they have the power to negotiate. That’s what we don’t want. We don’t want to leave any money on the table. For example, which home has more negotiating power in it? The one’s been on the market for six months, or the one’s been on the market for six hours? It’s for reasons like this that testing the market could hurt you.
How To Be Strategic
Your pricing is also strategic because of how people are looking to purchase a home online. For example, if your house is worth $500,000 but you want to list it at $510,000, we’re going to miss out on everybody else that’s capping their search at $500,000. In this example, it would be more advantageous and strategic to list your home at $499,000 instead of $510,000 to get more activity happening on your listing.
Let me give you another example that I experienced recently. We listed a home at $399,000. We thought we were going to get $425,000 but we ended up getting $445,000—and it appraised. If we would’ve listed at $425,000, we would have lost out on a lot of those buyers that came through the home. Your pricing is very strategic and the most important part of selling your home.
Marketing To Your Ideal Buyer
The second way we want to position your home is in the way we describe it. We want to make sure that we are talking directly to your ideal buyer. For example, if we’re talking about investment properties, we’re going to talk about your cap rate, cash flow, and expenses. But if we’re talking about residential property, we’re going to describe the schools, parks, neighborhood, and what makes the home special to you. The key is to talk directly to the buyer to strike that cord that connects them to the home.
The third and final way we want to position your home is simply by our marketing. We’re going to market your home in the area where the ideal buyers are going to hang out. For example, if we were selling an investment property, I’m going to go to the REI groups and where investors are and market the property there. If we’re going to sell your single-family residence, then we’re going to go to where more families are.
Getting Top Dollar For Your Home
When we’re selling your house, we don’t want to wait for the buyers to come to us. We want to go out there and find those buyers for you. So the key to selling your home for top dollar is always in the marketing and positioning.
If you’re thinking about selling your home and you want to put a good marketing strategy behind it, give me a call. We can meet and get all your questions answered. Feel free to reach out to me and I’ll be happy to connect with you!