In our opinion there are 7 steps you need to take to get your home sold.
Over the last several years the real estate process has changed. No longer are Realtors the only ones with property information. The Multiple Listing Service (MLS) now sends their information out to real estate websites like Realtor.com, Zillow, Trulia and many others. The latest polls put out by the National Association of Realtors indicates that over 94% of buyers search online to find properties.
Buyers can now see multiple photos of the home, get school information, tax information and even a ballpark figure on value. The need to contact the agent who listed the property to get information has been eliminated. No longer do you need to call numerous real estate offices to find out what they have available. The “local agent” who specializes in one area no longer controls the local real estate market. All of this has changed, as the Internet has become the number one source of information for all real estate.
Sellers can no longer advertise a 3-line classified in their local newspaper as buyers now expect to see multiple pictures. Unfortunately, many buyers make the wrong decision on what to pursue because some pictures simply do not do the home justice.
The good news for sellers today is that the Internet has made it possible for Mills Realty to lower the price of what you should expect to pay to get your home sold. We have proven this with hundreds of closed properties wherein the seller paid under 3% TOTAL commission to sell their home. These sellers did not spend more time getting their homes sold and neither will you.
What you are about to read is our 7-step proprietary system that we have created over the many years we have been in business. We want you to know how simple it is to get your home sold and this 7-step process breaks it down in simple terms. You just need this process to work within and massive exposure in all the places that buyers are searching. Pay close attention to number 4 as this is where most sellers and traditional listing agents miss and it is really important.
Make your home a product.
- Clean! Clean! Clean! Clean anything that is dirty and make it look fresh and new.
- To help make a room look bigger remove any personal items that are larger than a football
- If you have excessive throw rugs, remove them.
- Organize your home so that it appears you are meticulous. This will show a buyer that you care about your home and that the home is well maintained.
- Use your furniture to highlight the features of your home.
- Add fresh flowers to make your curb appeal look its best.
- Paint any area that looks dated. Use a neutral earth tone, which embraces the widest audience. This also goes for overly colorful wallpaper! Get rid of it and paint the walls.
- If you have dated light fixtures replace them with newer more energy efficient fixtures.
- Replace any broken or dirty switch/plug plates.
Our listing specialist who comes out to your home will help you figure out any other items that can enhance the condition of your home and get you the best price. When we come to your home, we are there to list it for sale. You can continue to make any necessary changes.
Plan your selling strategy and cut the costs of selling so that you have room to start with a lower selling price or have more room to negotiate or whatever strategy is necessary to get your home sold.
Over 80% of Sellers paying a 5% or more commission reported to an independent survey that they could not make their first offers work due to a difference in sales price and offering price of 2%.
That might not feel like a lot of money, but to a $500,000 Seller, that equates to $10,000!
The good news is you no longer have to pay a high commission to get your home sold. There are companies all over the United States offering lower selling commissions utilizing the most consumer friendly resource…the Internet.
Following is what the difference looks like in commission when using Mills Realty on the example of the $500,000 sale and why this is able to get your home sold quickly.
(Waived if you find a buyer who does not have an agent)
You have just saved $12,975. That gives you $12,975 to negotiate with or put in your pocket. The choice is yours!
To attract the widest range of buyers you need to position your home on the Internet.
To properly position your home on the Internet means you must cover these bases:
1. Pricing – Use round numbers so that you are included in the maximum number of search criteria. No Internet portals, including agent only search tools, search for properties priced at $499,900.
This is a screenshot from Zillow.com which shows an actual example of how a buyer enters in the price range they want to search for. Other real estate websites use pull down menus that range in increments of $50,000, $100,000 and above.
2. Photography – Good professional photos is essential in getting across your property to potential buyers.
3. Incentives – Add creative incentives to buyers for them to buy your homes. Use your imagination, as this can be a fun and easy way to help separate yourself from your competition.
4. Listing Accuracy – The listing should be complete and full of text. Our listing specialist will take care of this at the listing appointment.
You must advertise your home to EVERY buyer, not just half of the buyers!
At any given time there are 4 types of buyers looking to purchase a property. These groups are investors, first time buyers, out of state movers often called relocation buyers and local house movers. The key is to make sure that all of them see your property. Relocation buyers and first time buyers usually hire an agent to help them locate a property. The investor (which almost every buyer thinks this way these days) and the local house mover often like to check for sale by owner properties in addition to the real estate websites.
The traditional real estate agent is not able to think outside of the traditional box, so they do not subscribe to the for sale by owner thought process or websites. At Mills Realty we list your property on for sale by owner websites and allow you to sell on your own and pay no commission if you so choose. We still take care of the contract, but you save the commission you would have paid to a buyer’s agent.
Make your home stand out from the competition with incentives that make the buyer wonder, What if?
To make your home stand out in a crowded field you definitely need good and often times professional photographs. After you attract a buyer to your property you need to be able to say something that motivates them to put your home on their “Must See” list. Mills Realty uses the Mills Realty Buyer Rebate Program to do just that. This program is a proprietary system where we actually pay the buyer part of out commission that you have elected to pay.
Agent incentives also work very well. Instead of doing a price reduction, add an additional incentive via a higher commission to have them bring you a buyer. You have this option since you have the wiggle room from saving on the listing side of the transaction.
Be proactive with buyers that have viewed your property multiple times…make them an offer!
Receiving feedback is important, but there is something even more powerful when your property has been viewed multiple times by the same buyer…striking while the iron is hot. Our expert contract team will contact the buyer or their agent and determine if our proprietary Reverse Offer system is a good fit. We will make an offer to the buyer instead of the traditional vice-versa way. This very powerful system we have created is reaping excellent results.
Negotiate like a businessperson even though it feels emotional and personal.
Confusion leads to a lot of drama and emotion. That is the last thing we want when negotiating a contract. We breakdown the process into very simple to understand points and walk you through everything. Our goal is to hook the buyer while getting you the terms you desire. Our superior system will get you achieving your goal all while keeping the process simple and easy.