The market has shifted in the past few months. While the change might feel dramatic, it’s important to remember we are just seeing it return to normal after a period of artificially low-interest rates and extreme price hikes nationwide, especially here in Salt Lake City.
What this means is that it is more important than ever to choose your real estate team wisely, including a skilled listing agent.
One major pitfall to avoid? "No iPhone photos," says our broker Monique. "It's so important hire an experienced listing agent who can help guide you through repairs, proper cleaning, staging and professional photography of your home. It could literally cost you thousands to overlook proper preparation of your home."
A Home Selling Strategy: The best strategy for selling your home includes your future goals. Would it make more sense to rent your existing home and purchase a new one? Or are you in need of a quick turnaround for relocation or major life changes? Before you move forward, be sure you discuss your future goals and needs with your agent to develop the best strategy for you.
How much am I going to have to fix up my house in order to sell it?
Spotting Repairs: A skilled listing agent has all the certification and training necessary to understand what repairs will need immediate attention before you can sell your home. This often means they will tour the home with you to spot any initial red flags that might make inspection difficult. They will then help you find carefully vetted vendors who will do the best work, the most quickly for the most reasonable prices, a helpful boon in the age of less-than-reliable contractors.
Proper Cleaning: Although it might be tempting to DIY the cleaning phase, we can’t overstate the importance of a spotlessly clean home. You’ll want to walk the home with your agent to determine what furniture can stay and what should go. Next, we can’t overstate the importance of hiring professional cleaners, including window cleaners. When there are a high number of competing listings on the market, crystal clear windows, and spotless floors will go a long way in giving your home a competitive edge.
It's already furnished, do I have to stage it?
Staging: This is another step in getting your home ready for sale that might be tempting to skip. Professionally staging your home will increase the value of your home by 20% on average. Consider staging your home a worthwhile investment. Professional stagers not only have access to a large inventory of contemporary furnishings and decor, but understand how to properly set a room to help it to appear larger, brighter, more spacious, and more inviting, particularly in photos.
Can't I just take photos on my own?
Professional Photography and Video: We have seen a few agents in the industry taking quick iPhone photos of their listings. This is such a huge mistake, especially in the current market. In our experience, professional photos will help your listing to stand out above all the rest in your price range and make for a statistically higher response rate and a faster sale. Luxury listings (anything above $600,000 should consider adding video for an even better response.
How much should I sell it for?
Pricing: Here’s where you’ll want to be sure to have a seasoned professional in your corner who has an understanding of the current market and knows how to sell your home in a reasonable amount of time and for the best price. Your listing agent should be able to tell you how many days they are seeing homes on market on average. They should also be able to compare the estimated market value with a Comparative Market Analysis of recently purchased homes in your area, matching your home’s description. Some other things to consider are any recently expired listings in your area to help you gain some insight as to where their mistakes were. It’s important to note that the days of pricing low and hoping for a bidding war are over. When it comes to pricing, trust your agent, and price exactly where your home should be. Finally, remember that 64% of home sellers lower their asking price at least once. If too much time has passed, allow your agent to recommend the proper time for dropping your price.
Proper Marketing: Choose a real estate team that has a strong marketing presence. Your home should be advertised in an attractive and professional way online and in social media posts for the best traction. You should receive regular reports that help you to track how many times your listing has been viewed and how many tours have been scheduled as well as future goals to help the sale of your home. Your agent should have a large network of clientele and fellow agents for proper exposure.
One final note, as you might have guessed, our team at Market Source Real Estate will provide you with all of the above services for your listing. What’s more, our Home Selling Concierge Service includes much of this for free, including:
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A personalized home selling strategy that takes into account your future financial goals.
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Strategic pricing that offers you a competitive edge even in a fierce market.
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Complimentary professional cleaning inside and outside.
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Professional photography.
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Professionally written property descriptions for a high-performing MLS listing.
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A special upgrade for luxury listings including a dedicated web page with a full property description, professional photos, and video.
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A personalized marketing plan through our in-house marketing team.
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Weekly marketing and MLS reports.
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Experienced full-time listing and transaction coordinators to walk you through every step of the selling process.
*Our “Sell Your Home Concierge Service” is available to our clients who agree to a full commission.
**Free light in-house staging is available for all standard listings.
**Free full-service staging by a professional third party is available at a value of up to $2k on all luxury listings. We recommend staging on all listings as it impacts the final sale price of your home. In the event you opt against our staging service, we will be available to assist in the coordination and scheduling of third-party staging of your choice as part of our services. The expense of full-service third-party staging on standard listings (less than $500,000), or over $2000 worth of staging on luxury listings ($500,000 or more) will be the responsibility of the client.
