By Chip Collins
Moving is stressful… on that we can all agree!
But the stress isn’t fully defined by the physical move itself. Rather, it’s often an accumulation of all the important decisions that need to be made along the way to the move.
In our world of advising homeowners, we look at these decisions as a function of various strategies that must be well considered to create a successful transaction and transition for the seller.
Here’s a quick overview of the critical strategies, what they entail, and when they should be considered if/when you plan to sell your home:
Condition Strategy: Buyers today are picky (maybe more than ever), making it essential to review, discuss and plan how your house will be received by the market. From curb appeal to potential repairs to thoughtful upgrades, it’s never too soon to be thinking about the condition of your home as a “product for sale.” Getting fresh and educated eyes on your property well ahead of when it’s time to sell is essential, especially given the scarcity of available contractors to get the house in tip-top shape.
Pricing Strategy: The market right now is sending mixed signals, unlike the “red hot” market we saw during the pandemic. Having a sound and defensible pricing approach is essential to ensuring that your home will garner interest, showings, and offers. A smart pricing strategy goes way beyond just a basic CMA (Comparative Market Analysis) and must take into account how and when “windows of opportunity” can be used to your advantage.
Compensation Strategy: The real estate industry is all abuzz about commissions, buyer agency, and cooperating brokerage. These issues highlight the importance of how agent compensation plays a key role in the sale of your home. There have always been any number of service models in real estate with associated commission programs, making it hugely important to have a careful discussion about the pros and cons of each as you consider what’s most important to you in your sale transaction.
Visual Strategy: In a world where so much is driven by photos and images on websites, phones, etc., home sales can be made or broken in an instant depending on how the property is presented to the market. As such, it’s essential to consider how the property will photograph… and also how it will be experienced during in-person showings. A casual approach to the visuals of your property can lead to missed opportunities and poor first impressions, both of which are ultimately challenging (if not impossible) to regain.
Launch Strategy: How and when to put a home on the open market is more complex now than in any time in history, driven in great part by the many avenues and implications that exist today. Generating leverage, motivation, and interest in the buyer audience are essential to achieving the highest return on your investment, and tapping into the most effective marketing tools and resources that exist today makes all the difference. Simply “listing” a home for sale can be a big mistake, while establishing a strategy for “launching” the property into the market can lead to the very best results.
Transition Strategy: When planning a move, most folks don’t want to end up with two homes… nor do they want to become homeless. As such, formulating a strategic plan for the timing, finances, logistics, and other considerations relating to occupancy, moving, contents, service providers, etc. can mean the difference between the easiest sale/move you’ve ever had, or a nightmare. Setting expectations, properly communicating, and engaging in smart negotiations all come into play in order to reduce hassle, stress, and wasted time.
Looking back to 30 years ago in the industry when there was no internet, no buyer-agency, and no real technology, it’s funny to consider such a simpler time. Yet, with the resources, tools, and opportunities that exist today, it’s a much more exciting time and place in real estate to take advantage of strategies that can yield the kind of transaction that wasn’t imaginable back then!
To learn more about a successful and strategic approach to preparing for your future home sale, come join us at our next Home Selling, Prep & Staging Workshop on August 27th at 10:30 am at the Moss Creek Clubhouse. Lunch will be served, and seating is limited. Register at CollinsGroupRealty.com/Workshop or by calling 843-341-6400
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Listings Team
Real Estate Specialists