8 tips on selling a home in Palm Beach
Even in posh Palm Beach, nothing much has changed when it comes to Home Sellers’ aspirations to sell quickly for top dollar. The change is mainly on the buyer’s side and how they search for their new homes. Nowadays, nearly all generations, but especially Generation X and Millennials are attached to their smartphones like their lives depend on it. Most home searches starts from this mobile device thanks to the over-reliance on this trusty, yet tiny super computer in the palm of their hand. A good Realtor will have a website which gives the buyer a lot of useful information in addition to all the homes for sale on the market at that time.
SERIOUS HOME SELLERS TAKE THE FOLLOWING STEPS:
1) Home Sellers should price their home according to reality
Even though pricing a home for sale is not as straight forward as appraising a used car, the important word is “REASONABLE”. There is nothing wrong if Sellers try to list above market price, but if they are sincere about selling, this should have a strict time limit. Sellers should agree to a gradual price reduction if the home hasn’t had an offer after 3 – 4 weeks. Leaving it on the market without any necessary adjustment only accumulates days on the market. This stigmatizes a home and people start to wonder: “What is wrong with it”?
Also, sellers need to understand that buyers don’t care what they “need” or “want” out of their home. It is all about what the home is worth to THEM. Home Buyers are very savvy these days and tons of information is available for them even without the help of a Real Estate Agent. They can easily figure out if a home is overpriced, how long it has been sitting on the market, its selling history, etc. If sellers don’t want to end up “buying” their own home themselves month after month since nobody else does, they need to be willing to reduce the price so the home will soon transfer to a new owner.
2) Home Sellers should invest in getting their homes fully updated or fixed, in other words: make the property move-in ready
Younger generations are usually very busy and unless they are looking to buy a property for investment, they want their new home to be turn-key with no extra work involved after a tedious move. Sellers are ill advised to follow the mantra: “Let’s just put it on the market and see what happens”. If the buyer isn’t drawn to a listing, they’re on to the next one and a great opportunity to get a home sold quickly is lost.
3) Home Sellers should prepare the property for the market by Staging
There is no second chance for a first impression, as cliché-like as this might sound. The most important time is the first month after listing a home. Not preparing it for the traffic, a newly available listing should create, can cost a seller dearly. The investment in a Home Stager for at least a professional consultation or a full stage will very likely pay off. They will know how to neutralize, declutter,….or do whatever it takes to give it the best visual appeal which make the home attractive to the largest audience.
4) Home Sellers and their Realtors should invest in a professional photo shoot of the homes
The Internet is one of the first places home buyers start their search on and they will very likely skip over a listing with low quality pictures. A good agent will make sure that the photos on the MLS and Internet present the home visually in its best possible light.
5) Home Sellers should let their agents hold Broker’s Open
Broker’s Open, here in Palm Beach usually on Thursdays, gives the listing agents a chance to gather the opinions of their peers which can be a good way to measure if a home is appropriately priced, presented, etc. Giving Realtors the chance to see a listing in person instead of just on pictures can also be beneficial for the Seller in helping with the sale.
6) Home Sellers should agree to Open Houses on weekends for the public
A Public Open House should be held at least once or twice a month. It “introduces” the newly available home to the neighborhood and gives it exposure. This is also a great opportunity for neighbors with potential buyers who might not need it for themselves, but have someone they know who are looking on that street. Taking advantage of this chance should not be missed.
7) Home Sellers should let their agent blog about the listing on their website, Facebook or any other social media
Social media has added an extra, and very important level on how to market a home for sale. An agent who takes a listing, slaps it on the MLS, and hopes for the best is not cutting it anymore. To get maximum, global exposure, a Realtor needs to blog. It sure takes extra time and effort to sit down and write about a listing but it makes a big difference and a diligent agent knows this.
8) Home Sellers need to let go
Another problem Realtors run into at times are Sellers who still think of the property as THEIR home and are therefore unwilling to make necessary changes. It would be helpful if their mindset is to let go of any psychological attachments and see the home already in the possession of a new owner.
After all, Realtors make a living through commissions, and statistically, sensical pricing, staging, modernizing, taking a good Realtor’s advice, etc dramatically improves a home’s chance of being sold faster and for a high price.
Selling a home, especially one which the owner still lives in, can be a very exasperating process and involves many important, at times inconvenient steps but if they are not taken, money and time can be lost. I would be delighted if I can help you getting the selling process started and going as smooth as possible. Please, contact me at your earliest convenience for a personal meeting.