"Taking The Guess Work Out Of Home Selling"
Posted by Larry DeBerry on Sunday, February 12th, 2023 at 12:30pm.
Over this past month, my team and I have listed and closed 4 homes and also helped 2 buyers find homes in the area. January and early February was busy. The homes we sold were sold at or slightly above list price and sold in a very short amount of time. Are you seeing some listings that are sitting on the market for a long period of time? Homes that sit for longer periods of time usually have just a few things that keep them from selling. The key is to know what those things are and to quickly address them early in the selling process. Over the years, I have found that if we can eliminate the things that keep a home from selling up front, those we represent are extremely happy with the results.
Over the years we have developed a system that enhances our listings to the public and gives us the best chance of attracting qualified buyers in the door. Where a home is located, city, neighborhood, school system, shopping, parks and other things may play a part in the equation of selling a home. How those things are brought to the publics attention is key to attracting those interested in purchasing a home. Usually, a buyer is interested in the area first and then locating a home based on their price range and features of the home. Understanding the stats for each of these things is key to helping a seller present their home in the "best" manner to attract the "most" qualified buyers. The old saying "knowledge is power" is definitely true when it comes to selling a home.
Our team is furnished with weekly information about activity in over 20 school districts around our area. At the end of each month our team members are furnished with the stats for Collin County and stats on 5 cities that are used to give a good indicator of market movement. The reports compare the month that was just completed with the past 4 years of the same month in the past. By having this information it tells us where the market trends are taking us compared to the past. These reports include an in-depth report on all the factors of price, days on market, percent that is being offered for homes, as well as inventory statistics. This gives us the "big picture" view of our area. By using this information along with the particular neighborhood statistics that a seller's home is located in, we can formulate a great plan for the seller to get their home sold at the best price and in the shortest amount of time.
Realtors doing a listing presentation to a seller should be equipped with this overall data. The key then is to know about the seller's current neighborhood activity, number of listings, number of solds, number of expireds, ect. However, that does not paint the total picture. The Realtor should have compared the homes that have sold features with the seller's home. If the seller has done upgrades what is the upgrade worth? If a home that sold had more bedrooms or bathrooms, pool, large backyard compared to the sellers home, is that being taken into consideration? These are the things a professional Realtor should be equipped to present to their potential client when doing a listing presentation.
If you or someone you know is looking to sell a residential home in our area, please give us a call at 214-676-8040 and allow us to give you the information you will need to know when selling a home. Roxanne DeBerry, Realtor