Most Real Estate Agents rely on the Old 3 P’s: Put a sign in the yard, Put it in the MLS, and Pray it sold. But that simplistic method of selling will leave your home sale lacking in today’s digital age. You see, we can do so much more now. And buyers expect much more. Also, we’ve never had more data at our fingertips to help make good decisions. It’s important to embrace the new technology we have at our disposal, and to exceed your buyers’ expectations. When it comes to selling a home, most sellers want two things: a Great Price that protects their equity and a Fast Closing so they can move on with their lives. In order to ensure these two goals, we need to consider a few core principles I like to call “The NEW Three P’s of Home Sales:” Price, Presentation, and Promotion. (Just to give credit where it’s due, I learned this 3 P’s concept from Garry Creath & Chris Scott at The Paperless Agent and Creath Partners Real Estate in Austin, TX. It has been a huge advantage for my clients.)
Price
The first and most important piece of the sales puzzle is Pricing it Right. Buyers search for homes by price first, and all other criteria second. Pricing is critical, so being knowledgeable about current market trends is absolutely vital. The strategy of “Testing the Market” by pricing high and then coming down later may actually be dangerous for your equity, not to mention it hurts your ability to close quickly. Most buyers won’t even look at a property they feel is overpriced. Remember, they have access to similar data on what other homes have sold for nearby. Also, when you do start dropping
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