New Homes Magazine: New Market, New Strategy

New Market. New Strategy.

by Michelle Carter, Marketing Director, Lyon Real Estate

So you’re thinking of selling your home, but you’re not sure if this changing market is the right time to do it.
Could you get more money if you waited? Are you already too late to capitalize on a hot home market? How long will it take to sell your home? What if you’re buying and you’re concerned about appreciation? Fortunately, the answers to these questions (and more!) lie with a full-service, knowledgeable real estate professional.

In a market where there is more inventory (more competition) and high home prices that more buyers are becoming unable to pay, it is more important than ever to have every tool in the tool-shed at work to deliver a timely and profitable sale. Even in a market with more competition, an experienced agent can generate a competitive offer for your home.

So, what services and real estate expertise should the ideal agent offer? Here are the non-negotiables:

A solid pricing strategy based upon fact not intuition.
The best agents utilize neighborhood-specific data on sold homes over an extended time period (12-15 months) to help set a marketable price for your home. Pricing is your first most important decision – too high and you won’t get any buyer traffic, too low and you’ll be missing out on all the equity you have been building. It’s important to get it right.

A targeted marketing strategy.
Gone are the days when popping a lawn-sign in your front yard generated five instant offers. Back when there were more buyers than homes available, buyers jumped on the first property that matched their criteria. Now the tables are turning, and you’re competing with several other homes in the area for the same buyers. But more competition isn’t bad, it just means your agent has to work harder to bring in interested buyers – and your agent should be pulling out all the stops! Here are just a few of the marketing tools your agent should be putting to work for you. Ask for samples of what they have produced for previous clients, before signing a listing agreement:

Print advertising, locally and regionally.
Online exposure through a high-traffic (ask for visitor statistics!) website and maybe even a virtual tour if your home is large enough.
Your agent should be taking plenty of photos to include online since 70%+ of buyers now start their home-search online.
Targeted direct-mail campaigns to your neighbors and other likely buyers.
E-mails to other Realtors active in your neighborhood and who may have buyers for your home.
Quality flyers that highlight your home’s most marketable features.
An Open Home to introduce your neighbors and new buyers to your home in a pressure-free environment. Neighbors are a great source of referrals!

Home staging techniques.
A good agent knows what features sell a home and what features can make it difficult for buyers to imagine your home as their own. Your agent should be able to make some simple and cost-effective suggestions, such as rearranging your furniture or painting your walls so buyers see a “blank canvas” in which they can envision their own belongings. These small things set your home apart from the rest and increase the likelihood of an early offer!

All of this, of course, means that the practice of hiring an agent based upon the “lowest-bidder” theory (whoever will lower their commission the most) just isn’t going to deliver the results you want in today’s market. When you need experience, knowledge and an increased level of services, investing in a professional is essential. Would you hire the cheapest brain-surgeon? Full-service agents deliver more for their money: a higher level of service with better results.

Michelle Carter is the Marketing Director for Lyon Real Estate in Sacramento. Lyon’s 900 Realtors® in 15 regional offices have access to unequaled internet exposure, elegant marketing materials, a regional and national advertising strategy, plus detailed market trends. Lyon agents typically sell luxury homes faster and at a higher price. For more information, contact 916.978.4207 or visit www.golyon.com