How We Approach Home Selling
Active vs. Passive Marketing
Passive marketing is basically sitting around and waiting for someone to come and buy your home. Passive marketing is holding open houses, sending out flyers, putting your property on the MLS, and hoping someone makes an offer. These methods are passive, and you can't predict if they will work or not.
Active marketing on the other hand is much more aggressive, and very predictable. I will be on the phone every single day and actively call 10, 50, even 100 people asking if they would like to buy your home, if they know someone who would like to buy it, or if they would like to sell theirs.
And do you know why I ask if they would like to sell their house?
The more signs I have out in the community, the more buyers call on those signs. The more calls I get, the more people I can show your home to. In the end, I spend all my time and effort doing what is proven to get your home sold. I reach out into the community, and I actively find you a buyer.
If you list a property too high you are guaranteed to net less money. Studies abound that compare listing price to selling price. Those that list too high, and reduce over time always sell for less than those that are priced correctly. I make the first 10 days an event. Something special. And it all starts with a very, very low price.
Some sellers are nervous about this at first. But they soon realize that they don't need to be. I know this sounds contradictory, but it's important to understand that the list price of a home has nothing to do with the sell price. The list price is a strategic figure used to present the home to the public. In today's market, the best way to ensure the highest offer is to expose the property to the largest cross-section of people possible, and a low price diverts all eyes from other properties to yours
Photos and Staging
With all eyes on your property, it must look compelling. We are a visual culture, and I can't stress enough how important is to appeal to the public eye. Staging may be required. Certainly a variety of strategic shots taken by a professional photographer will be necessary.
Law of Scarcity
When something is very scarce, it becomes more desirable. I always place a property on the MLS on a Monday or Tuesday. I let it sit, and take the dozens of calls that come in, but here is the important part... I don't allow anyone access to the home. We have a low priced, well photographed property that everyone is interested in, but they can't get in to see it. The first time, and in fact the only time a hungry buyer can see the property is at the single open house we will hold on the weekend. This accomplishes many things.
First, it ensures a very large turnout. Think about it. The property has been on the market for almost a whole week. It is proliferating through MLS feeds. Buyer interest is getting larger, and agent interest is picking up even faster. But no one can get in until the weekend. And so...Everyone shows up. Psychologically, this does something to buyers.
The second thing it does is it allows us to speak to a great deal of agents and buyers to begin the screening process early on. Do not underestimate the importance of building relationships with potential buyers. I begin to get a sense of who the most qualified prospects are, and who the most likely buyers are. The more information we have when negotiations begin, the better advantage we will have. And a controlled period of time with restricted access allows us to get just that advantage.