1. Price your home aggressively.
A market analysis (CMA) will show that homes are selling in the Twin
Cities. Of course it will also show that many homes aren't selling. A
closer look at the CMA will reveal that the difference is price. I'm
not revealing any revolutionary new thoughts when I say that only homes
that are priced appropriately are selling. Well what if you need your home to sell fast? Have your agent prepare
another CMA, searching only for homes that sold in 30 days or less. I
can already tell you what the CMA will show: Homes that sell fast are
priced lower than homes that take longer to sell. But savvy sellers
realize that it doesn't change their bottom line by that much to lower
their asking price. Being priced 2% lower than your competition can
radically change your market position. And you're more likely to get
offers that are close to full price. If you are finding it difficult to
lower your asking price, consider using a discount broker. Many real estate agents are finding ways to offer full service at a
reduced commission. In this way, sellers can price their homes more
competitively without affecting their bottom line.
2. Have your home professionally staged.
Professionally staged homes sell faster and for more money than
other homes. I think this is so important that I pay for it myself. I
would rather spend my marketing dollars on things that sell homes than
on expensive newspaper ads and other ineffective strategies. For more
info on this, see my blog on home staging.
3. Demand Professional Photographs.
I have been using professional photographers and graphic artists for
over 20 years because I like to have nice looking glossy brochures
available at my listings. I'm not sure that glossy brochures actually
sell houses--it's just something extra that I like to do. But in today's
market, high quality photographs are more important than ever, and they
are an integral part of getting your home sold. In the Twin Cities,
over 80% of home buyers start their search online. They expect to see
nice photos. Considering that there are more houses for sale than they
could possibly want to look at, buyers are using online photos to
decide which homes they want to go see. If you don't have attractive
photos of your home online, I can guarantee that qualified buyers are
choosing to look at other homes.
4. Offer incentives.
This is just something extra you can try. If your home is
aggressively priced, professionally staged, listed in the Twin Cities
MLS, and marketed online with attractive photos, it will sell faster
than comparable homes. Still, it doesn't hurt to give your agent more
things to advertise about your home. You could offer to pay association
dues for one year, or provide a home warranty that would protect both
you and the buyer. Offering a bonus to any agent who procures a buyer
is another way to generate interest.