- January 26, 2021
- Posted by: Corey Gomis
- Category: 3P's / Dec 2020 stats
The 3 P’s on selling a home
Price, Presentation and Promotion
A lot has been written on selling a home but basically it comes down to the 3 P’s
Price is balanced between how much someone is willing to pay and your motivation for the sale of the home. Buyers are smart and they will comparison shop and look at the features and benefits of similar homes that have recently sold and compare to your home. Generally speaking, a good rule of thumb is homes generally sell within 2% of asking price. If you have a lot of showings with no offers you may be off by 5%. If you have no showings you could be off by as much as 10%. Having a professional Real Estate agent preview your home is the best way to maximize your bottom line. By interviewing more than one agent you will be able to pick their brain and compare the different methods on how they each sell homes.
Presentation is another important factor. Curb appeal is key. Planting a few new flowers and plants as well as adding mulch to the plant beds goes a long way on the outside. Declutter your home inside and out. Consider getting a storage unit to move all the stuff you can do without for awhile. Make sure your realtor hires a professional photographer. Deep clean your home as if you have in-laws, relatives or good friends staying over for a few days. Hiring a painter and having carpet replaced is usually much cheaper than most people think. It may be worth the investment to sell your home. (Next month I hope to shed some light on the 3 D’s to getting a home sold).
Promotion varies from realtor to realtor, that is why it is important to interview a few agents before settling on one agent. The Real Estate profession has evolved like most industries over the years. Basically there are 2 types of agents, passive or active. Passive realtors are still using the traditional methods that have been in use for over 20 years even though more productive ways are being used in selling homes today. Passive realtors use more of the traditional methods to sell a home. An active agent takes a different approach when searching for a buyer much like a private investigator. They are prospecting 3 or 4 hours a day. An active agent will call their past clients and centers of influence to see if they know someone wanting to move into the neighborhood. They will personally call other agents. From there they start canvasing your neighborhood through phone calls and marketing. They are actively looking for people that may have a family member or a friend that wants to move into the neighborhood.
When it comes to selling your home you have many options. Determine whats most important to you on getting a home sold and look for an agent that can make it happen for you.
December 2020 Residential Stats November 2020
- Active Listings 1982 down 2168
- New Listings 1458 down 1484
- Listing Sold 1890 up 1762
- Average Sale Price $377,349 up $362,928
- Months Of Inventory 1 equal 1
- Average Days On The Market 29 down 34
Next month’s info letter: The 3D’s on preparing a property for sale