Deborah Lee Darling - SECRETS FOR SELLING HOMES OTHERS FAILED TO SELL

SECRETS FOR SELLING OR SELLING HOMES OTHERS FAILED TO SELL

Deborah Lee Darling

Table Of Contents

Why Should You Read This Book?

Does Listing Price Matter?

What To Avoid

Why It's So Easy To Sell Your Home For Less Than It's Worth

What Stops Perfect Homes From Selling

How To Sell A Home That Didn't Sell — Without Dropping The Price 19

Avoid This Rule At Your Own Risk

Why This 20% Rule Applies To Hard-To-Sell Homes

Grabbing Any Buyer's Attention

10. Luxury Home-Seller Strategy Sells Homes For 15% More Money

11. Why Home Staging Really Matters

12. Make Your Darling Home Spotless

13. Details Win Darling Home Sales

14. Important Features Of A Darling Home

15. Why Pictures Of Your Darling Home Can Stop It From Selling 65

16. The 3-Step Formula I Use To Sell Homes Others Couldn't Sell 69

17. Why Every Billionaire Home Sells

18. Negotiation Mistakes

19. Simple Negotiation Ideas

20. Why Your Dog Wants You To Hire Me To Sell Your Darling Home

21. This Big Mistake Cost One Home Seller $36,000

22. Read This Before You Sign A Contract With A Buyer

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23. Should You Consider Hiring A Real Estate Agent?

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About Deborah Lee Dar ah Lee Darling Real Estate is not Deborah's first career, but after she achieved her realtor's license she was blessed to have as her first client a wonderful family that needed a residence in a very short period, and a very limited budget. She ran with the challenge and found them a serious fixer upper that they fell in love with! She was challenged by further time constraints with a holiday approaching, this made her double her efforts to shepherd the deal to a successful closing and kept that family under a roof (that they truly loved ). This solidified her resolve that helping families was the most rewarding aspect of this complicated profession, Real Estate. Deborah has continued to learn and stretch her capabilities and now has a trademark of "Find a Darling Home" - because as she says, “everyone deserves to have a Darling Home!!”. Deborah aims to provide the highest level of service to her clients and takes deep pride in helping them achieve their Real Estate goals. Deborah is also a chapter leader for "Quilt for Kids". She coordinates volunteers to make specials quilts for children in need. Under her leadership, the program has expanded to include Veterans and Seniors. She is a force to be reckoned with!! Put Deborah’s talent in your corner with the utmost trust that the very best outcome for your Real Estate needs is something she will never compromise.

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Testimonials & Reviews for Deborah Lee Dar ah Lee Darling Hired͏ for LIFE! Deborah Lee is simply the BEST! I can't begin to express the gratitude and appreciation I have for Deborah Lee and her awesome realty knowledge. She went above and beyond in my very unique home selling and buying experiences. Her dedication, availability, patience, knowledge, and amazing personality are exactly what we needed. She's super professional, extra kind and will fight for you like you are family from day one. Seriously, I will never use another realtor. Deborah Lee not only sold our home super quick, but for more than asking and had it listed within a week of our first call. But she also helped us find a Darling Home and went to bat for us like nobody else could. She is fierce, she is smart and she has a passion for her job that makes her stand out. If you are looking for someone that will be honest, dependable, educated, and won't let anyone take advantage of you, Deborah Lee is your person! We went through hell and back in our purchase and she stayed right by our side every single step of the way. We will forever be grateful. - Sandra from Milan "I highly recommend Deborah. She went above and beyond to help us find a new house and close before our personal deadline. She was always friendly and available whenever we needed questions answered or property to see. By the end of our house buying process Deborah felt like family! I have told all of my friends and family about her and our experience. " - Peggy in Jackson "Deborah was wonderful to work with and made buying my first home a reality. She was professional and always easy to get a hold of throughout the entire process. I'd definitely recommend working with her!" ix

- Samantha in Lincoln Park

"I decided to sell my 4 BR/3BA home in Fowlerville, MI. I went with REMAX, because I know them to be a reputable company with good advertising capability. I was wanting to sell my house fast. I picked Deborah Darling as my agent because, honestly, I thought her name and website Find a Darling Home is sharp, cute and such a clever use of her own name in her marketing / self-promotion strategy. Very Catchy! ; - ) After my first conversation with Deborah Lee, I quickly found out that she was more than just a catch name. She swiftly and accurately and assessed my situation and financial goals. The questions she asked and confidence in her ability. She really knows her stuff. She helped me set a price for my house that simultaneously met the guidelines ad trends of the market as well as my own profit expectations. Her negotiating skills were top notch. She really went to the bat for me and I truly felt that my best interest were optimally represented throughout the entire transaction / process. I would highly recommend Deborah Lee Darling to anyone. Whether you are buying or selling, Deborah Lee is your gal. I can't wait until it is time to buy. I know Deborah Lee will help me find a home that is perfect for me. I can't wait to find My Darling Home!" - Rabecca in Fowlerville You were invaluable helping me get a place I like. Thank you ! - Kevin in Ann Arbor I have loved working with Deborah and highly recommend her. She is very pleasant to work with and knowledgeable. She showed us many homes and was helpful in finding a house that fit our needs - Rachael from Woodhaven Deborah Lee is extremely knowledgeable, very professional, and I feel that she has an inside edge on this ever changing crazy

market. - Anthony from Southgate

Deborah Darling is who you should hire! Deborah Darling is a fantastic realtor! She is extremely knowledgeable in her field and knows the Southeast Michigan market like the back of her hand. She helped us sell our condo quickly and for a great price. Deborah is a competent communicator, who values your time and works hard to get the job done quickly and efficiently. Don't hesitate, hire Deborah if you are in need of buying or selling property! - Megan from Brownstown

Resources The process of selling a Darling home can be stressful, even if you’re working with a professional real estate agent, like myself. Chances are, you’ll have to hire various professionals throughout the process, either to prepare your Darling home for sale, or to fix any of the numerous issues that can pop up in a home inspection. The last thing you want to do is hire an unreliable contractor who delays — or even ruins — your home sale. In this section, I’ve provided you with a list of resources, along with a brief explanation of how each one can help you have the ultimate home-selling experience.

Have You Gone “Nose Blind?”

“What is that smell?”

Is that the first thing you want buyers to say when they walk through the door to your beautiful home? Despite how much you may vacuum — and even scrub — your carpets, there’s a chance you may have gone “nose blind” — to quote Febreze — to all the odors they contain. But that doesn’t mean you need to spend hundreds, or even thousands, tearing up and replacing your carpets. A deep carpet cleaning can restore even the oldest, dingiest carpets. Sure, you can rent a unit from a local hardware store to clean them yourself, but if you really want to eliminate troublesome odors and remove any deep, set-in stains, you really should turn xiii

to a professional.

SERVPRO has been helping clients make a great first impression for years.

SERVPRO of Carleton / Maybee Office 734-299-7006

Clean is Always in Style

You may think that to sell your home, you need to do major kitchen renovations, install hardwood floors, and knock down a bunch of walls. And while those changes aren’t necessarily a bad idea if you want to sell for top dollar, they’re not always worth the return on investment. But do you know what is? Cleaning . Cleaning and organizing your home before a sale is the easiest way to ensure it sells quickly — and for the most money possible. So what should you do to get your home in tip-top shape? • Deep clean every surface — floors, walls, carpets, countertops, cabinets, appliances, toilets, tubs, etc. • Organize and remove clutter. • Consider investing in a storage unit to store knick knacks, toys, tools, old furniture, unused small kitchen appliances, and piles of paperwork. If this sounds like a lot of work, that’s because it can be. You’re much better off leaving these tasks to professionals. You wouldn't go on a date in dirty clothes, and you shouldn't show your home when it’s not looking its best.

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I recommend hiring a professional to take the handle the stress of deep cleaning and organizing your home.

Why Curb Appeal Matters

They say you can’t judge a book by its cover — but it’s also true that books with worn out or torn covers tend to stay on the shelf. When you’re trying to sell your Darling home, you know you have to prep and clean the inside to get it ready to show. But did you consider how your home might look from the outside? When potential buyers pull up to your property — or even when they’re checking out photos online — the exterior is the first thing they see. If your landscaping is in disarray, or your exterior paint is peeling, buyers may not even venture inside. So what should you do to get the outside of your home buyer- ready? The National Association of Realtors® offers the following tips to enhance your curb appeal:

• Clean exterior walls and windows • Apply a fresh coat of exterior paint • Keep grass green and trimmed • Clean and repair your roof

These professionals can help you increase the value of your A fresh coat of paint can transform your Darling Home from dull and dingy to bright and welcoming. YB Paints uses only the highest-quality products to transform your home to its most pristine state. Not only does he provide a good job painting, but he can also repair interior / exterior walls to make your Darling Home shows it's best.

Electrical Issues Can Ruin Deals

Electrical issues are some of the most costly — and potentially dangerous — issues uncovered in any home inspection. In fact, the American Society of Home Inspectors counts electrical issues as one of the top deal-killers in the home-buying process. Some of the most frequent electrical issues found include: • Undergrounded three-prong plugs • Painted outlets • Double tapping of circuit breakers • Reversed polarity • Improperly modified electrical panels • Knob and tube wiring • Aluminum wiring • Federal Pacific breaker panels • No GFCI protection Unless the extent of your electrical issues is a burned-out lightbulb, all electrical work should be handled by a licensed professional. Besides being too complicated for most homeowners to handle, electrical repairs pose a huge risk of electrocution and fire. Family Heating and Cooling & Electrical Inc. are affordable, but they perform top-quality work, ranging from fixing faulty outlets to completely rewiring older homes.

Family Heating Cooling & Electrical Inc. Office: 734-422-8080

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Roof Trouble Hanging Over Your Head?

Al’s Roofing and Repairs remains committed to its core values of treating every customer’s home like their own by providing top quality products and certified installations. We are committed to providing our customers with the best products available at a fair price. You can expect quality installation work. Needed a couple shingles replaced and a chimney cap put back on. Very polite and more than accommodating. Our roofing professionals have years of experience in the roofing industry. This experience allows us to complete our projects on time, with unmatched quality. Al’s Roofing and Repairs remains committed to its core values of treating every customer’s home like their own by providing top quality products and certified installations.

Al's Roofing & Repairs Get a Free Estimate (734) 686-9701

Your Front Door:

The Ultimate First Impression Your front door is the gateway to your Darling home. A freshly stained or painted door, with shiny new hardware and clean glass, says “Welcome home!” to buyers who come to see your house. A front door with peeling paint, rusted hardware and fingerprinted glass might just leave them out in the cold. First impressions matter, and your front door is the ultimate first impression.

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Stand outside your house, and if you’re less than satisfied with how your front door looks, change it up! Consider a fresh coat of paint or stain — one of the newest trends in real estate is to make your front door pop with a bold, contrasting color — replace old hardware, and clean any glass surfaces on the door. With something as important as your front door, you may want to put your DIY skills on hold. A professional painter has access to the most durable, weather- resistant materials and will create a pristine finish. While you’re having your front door painted, walk through your house and consider the impression your paint colors might have. That bright orange you painted your living room in the early 2000s might have seemed like a cool, bold move back then, but it’s likely to turn off buyers who view your home now. Imagine taking your Darling home off the market for 60 days while a prospective buyer tries to buy it. Then, 60 days later, the buyer finds out they can’t get a loan. You just wasted 60 days of marketing time! Now, imagine that during the 60 days, another buyer wanted to buy your home. But the buyer couldn’t purchase it. Why? Because you signed a contract with the first buyer. By the time you find out the first buyer could not obtain financing, the other buyer has already bought a house! Ouch! You just lost a sale! This is why it’s so important to make sure a buyer is able to obtain financing before you sign a contract. Read This Before You Sign a Contract With a Buyer

Fortunately, I work with a mortgage lender who can pre-qualify

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any prospective buyers John Broughton with Geneva Financial, LLC. John will tell you whether they’ll be able to obtain financing. It costs you nothing to have Geneva Financial, LLC prequalify your buyers. Their lenders can help buyers get a loan with the most competitive interest rates available. You can rest easy, knowing they’ll be able to obtain financing. This is a free service. Buyers are under no obligation to use Geneva Financial, LLC to get a loan. They’ll help buyers get the best loan for their financial needs: • Conventional—A conventional mortgage can lead to a low fixed rate or adjustable rate for your primary home, secondary home, or investment property. • FHA—An FHA mortgage is a great program for buyers. Its advantages are a low down payment without private mortgage insurance. The lender process can be streamlined, with no appraisal and reduced loan documentation to qualified applicants. • VA—A VA Mortgage offers many benefits, including no down payment and lower interest rates. • USDA—These are only available in certain areas deemed “rural” by the United States Department of Agriculture. Surprisingly, many properties on the outskirts of a metro area will qualify for these loan programs. The advantages of a USDA Mortgage are lower interest rates and zero down payment. Because John Broughton is familiar with all of these loan programs, they can pre-qualify your buyers and ensure they obtain financing. That way, you avoid wasting time with buyers that will not qualify for financing. Before you sign a contract

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with a buyer, make sure you give them a call.

Geneva Financial, LLC John Broughton 734-377-7949

The Secret to Selling for Top Dollar

According to the National Association of Realtors® 2017 Profile of Home Staging, about one-third of buyer’s agents said that staging a home increased the dollar value their clients offered between 1 and 5% compared to other similar homes on the market that were not staged.

So what exactly is staging?

Home staging is the act of preparing a home for sale by arranging furniture and decor that allows potential buyers to picture themselves living in the home. The goal of staging is to make a home appealing to the highest number of potential buyers, causing it to sell more quickly and at a higher price point. As a real estate agent, I have a pretty good understanding of staging concepts. But I really prefer to recommend a professional to give my clients the best chance of selling their homes for top dollar in the least time possible.

Ensure Your Closing is Smooth and Easy

Here is everything First American Title can do to ensure you have a stress-free, smooth, and easy real estate closing:

• Solid Communication. They keep you updated on what’s

happening at all times and respond to your inquiries in a timely manner. • No surprises. They work hard to get everything lined up properly early on in the transaction, so there are no surprises later. • Convenient closings. They work hard to close at a time that is convenient to your schedule. If you can’t make it to the closing, they’ll handle it with a convenient “mail- away” closing. • Competitive Rates. They work hard to offer their services at a competitive, affordable price. • Knowledgeable. They understand that real estate is a complicated industry. If you have any questions throughout the process, they’ll answer them for you. Here’s the first step to get started on your stress-free, no-hassle closing.

First American Title Insurance Company Frank Lucarelli 22355 West Road Woodhaven, MI 48183 734-692-9914

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CHAPTER 1 Why Should You Read This Book? ead This Book? Ever wonder why one house sells quickly, while a similar house doesn’t? Why does one house sell for $188,000, while another house that’s identical in every way brings in $202,000? It just doesn’t seem to make any sense. The truth is, similar homes sell for varying prices all the time. It takes place all over the country. It happens in markets large and small. Surely, there must be some reason! These Darling houses do not sell for more money by accident. No magic trick helped one seller get a better deal than the other. On the contrary, higher prices and quicker sales are the direct result of careful planning. Sellers can command higher prices for their Darling homes if they use the right techniques. A few simple strategies, known only to the best sellers and the best agents, can make a huge impact on the success of your sale. The following chapters break down those secrets. See how each strategy translates into real-life examples. Houses brought to market with these tactics consistently sell quickly, and for more money — even if they failed to sell the first time around. Gather the information you need to apply the same formula to selling your home. When you sell, you’ll be able to take advantage of these techniques. Carefully follow the same formula to sell your home.

Thanks for taking time to look through this book. I sincerely hope it will help you make more money on the sale of your home. If you have any questions, please don’t hesitate to ask. I’d be glad to help.

CHAPTER 2 Does Listing Price Matter? Are you sick of being told the reason your Darling home didn’t sell was because it was “overpriced?” Most people think a home that didn’t sell was probably priced too high. Nothing could be further from the truth. The reason homes don’t sell is not necessarily because of the price. It’s usually because the home was not marketed properly. It isn’t easy to sell something for full market value. After all, buyers are always looking for a deal, and shoppers now have more information at their fingertips than ever. You might need to negotiate the price with a buyer, but good marketing will help bring you a full-price offer!

Here’s a perfect example:

John was trying to sell his Darling house. He put it on the market for $499,900. He hired an agent to help him sell it. The agent worked at a reputable firm and made a good effort to sell John’s house. • The pictures of the house were top-notch quality. • The marketing of the house was first class. The home was advertised extensively online, in the newspaper, and other marketing avenues. • The agent held an open house.

Yet, the agent’s efforts failed to attract a buyer. John’s agent suggested he adjust the price. After all, most of the similar homes in the area were priced around $400,000 to $450,000. The agent recommended dropping the price to $450,000. But John owned one of the nicest homes in the area, and his home had many features the other homes didn’t have. John knew this. He was reluctant to reduce the price. John hired another agent, who also failed to sell the home and also offered the same “advice:” Reduce the price.

At this point, John had two options:

• Option #1: n #1:Drop the price. Most of the agents he talked to told him his home was not worth what he wanted. They told him he should just “be reasonable” and drop the price to $450,000. • Option #2: n #2:Hire an agent who could sell the home for what it was actually worth. This agent’s marketing would need to get a buyer so excited about the Darling home that they would be willing to pay full price. Fortunately for John, he picked Option #2. He contacted an agent who specialized in selling homes other agents could not sell. This agent worked at the top real estate company in his area and had a bunch of accolades. He took a closer look at the home and launched his own specialized marketing plan. • New pictures were better than the first agent’s pictures. • The marketing was better. There was even more advertising than before. • The agent didn’t just do a regular open house. He also did

a broker’s open house and invited other agents to view the home. The agent looked at John's house and could clearly see it was worth the price. The agent put the home on the market for the same price, as the previous agents did. Only this time, something different happened. Sixty-three days later, the home sold for $480,000. The other agents were stunned. After all, they had told John his home was worth no more than $450,000. And, since most homes sell for slightly less than their asking price, an asking price of $450,000 would have most likely resulted in a final sales price of $430,000 to $440,000. Yet, the new agent had sold the home for more. It had taken only two months to capture a buyer’s attention. The unsuccessful agents were shocked (and a little bit embarrassed)! What had they missed? Why did the first two agents fail to sell the home, while the third agent sold it with ease? It’s because the new agent used a marketing strategy most agents don’t use. The details on this marketing strategy are explained within the following chapters. But first, we must be clear on one very fundamental point. Many people believe a house sells for exactly what it’s “worth.” That simply isn’t true. The price of a house is merely the final amount agreed upon by the buyer and seller. Many circumstances affect the final sale price.

Houses do NOT always sell for what they are “worth.”

• Sometimes they sell for more. • Sometimes they sell for less.

While that statement may seem like a no-brainer, it’s imperative you understand this. Strip away misconceptions, such as the idea that “worth” determines the sale price of a house. Now you are free to examine the real factors at work. Identify those factors, and you can leverage them in your favor. Take Cheryl and Richard, for example. They owned townhouses, only five doors apart. Both put their homes on the market at the same time. The builder had used the same floor plan for all the townhouses in their neighborhood. Both had the same layout. At first glance, each townhouse seemed to hold the same basic appeal for a buyer. You might think they were “worth” the same amount. Nope. Cheryl and Richard sold their homes within one month of each other. These townhouses seemed identical, but there was a $14,000 difference in sale price!

• Cheryl sold her home for $202,000. • Richard sold his for only $188,000.

Why the large gap in price? In a later chapter, you’ll see exactly what Cheryl did to make more money on her home. For now, just know that you simply can’t afford to guess the “worth” of a home!

POINTS TO REMEMB O REMEMBER:

• Homes that don’t sell easily aren’t always overpriced.

Houses don’t always sell for what they are “worth.” • The selling price of a home is merely the final amount agreed upon by the buyer and seller. • The most skilled agent use special techniques that can help sell homes faster and for more money.

CHAPTER 3 What to Avoid

Here’s another example of a stupid mistake that caused a seller to lose about $50,000 — yes, that’s $50,000 — on their home sale. An alert buyer was able to snatch up a $280,000 property for only $230,000. It was being sold by an out-of-town owner. The agent the seller hired was not familiar with the area and suggested the low price. The agent did not bother to put a sign on the property, and hardly anyone knew it was for sale. Two buyers both wanted to buy this property. One buyer really wanted it because it was right next to his house. He would have a bigger yard with more room for his kids to play. The other buyer lived in the area and wanted a larger yard. He wanted to buy this property and build a house on it. The first buyer bought the property before the second buyer even knew it was for sale. As soon as the first buyer found out it was for sale, he made an offer immediately. The seller accepted the offer, and the property sold soon thereafter. This buyer would have gladly paid full market value for the property. But he didn’t need to, because the seller accepted the offer he made. The second buyer never found out the property was for sale until it had been sold. Even worse, the seller never realized the mistake. 9

Bottom line: The seller lost $50,000 because of his agent’s incompetence. While stories like this don’t happen every day, they happen more often than you’d think. It’s a very real risk you take when you hire an agent who doesn’t have a proven marketing plan. Had a sign simply been on the property, it definitely would have attracted more interest and possibly even started a bidding war, driving up the price. At $50,000 below market price, the listing would have been bid and counter-bid several times, possibly even up to fair market value.

Here’s a similar story.

In this case, a seller hired an agent whose incompetence cost her $25,000. Her agent completely flubbed a “perfect offer.” The buyer submitted an offer at full price for her home, no strings attached. Her agent dropped the ball and let a little problem—one that would’ve been easy to resolve—ruin a perfectly good sale! The house sat on the market for another year and ended up selling for $15,000 less than the original full-price offer. Even worse, the seller wound up having to make another 15 house payments, while her home sat on the market and she wasn’t living in it. Ongoing house (mortgage) payments are a frequently overlooked cost of not finding a buyer quickly. Please don’t become another one of these stories! Take time to know the true value of your home. Do your homework, and prepare for the sale before putting your home on the market. The

good news is that by reading this book, you’re ahead of the game!

CHAPTER 4 Why It's So Easy to Sell Your Home our Home for Less Than It's Worth At a certain point, many home sellers feel like throwing in the towel. “I’m just going to drop the price and get rid of this house,” they think to themselves.

Fortunately, reason (usually) prevails.

A lot of people become tempted to “throw in the towel.” It even happens to highly intelligent people. Here’s an example: In 1997, entrepreneurs Larry Page and Sergey Brin were looking for a buyer for their Internet search engine. They called it BackRub. The two were seeking $1.6 million for the new online portal and were working a deal with Excite, a popular search engine at the time. The problem for Excite was that BackRub was far too effective a search engine. Users were finding what they wanted and moving off the site too quickly, which would be bad for Excite’s advertising business. Page and Brin cut the price dramatically, by more than 50 percent. They offered to sell BackRub for $750,000. (Yep, even geniuses cut their price.) Excite considered the offer, but ultimately balked. There was no deal. BackRub’s co-founders decided to commercialize and 13

release the product themselves. First, they renamed it.

They called it Google.

A little over 20 years later, Google is now worth roughly $360 billion. Excite was eventually sold to Ask.com. Bottom line: Fight the temptation to drop your price. Just because something isn’t selling does not necessarily mean it isn’t worth the price you’re asking. That clearly was true for Google, and it’s probably true for your home, as well. While the buyer of your dreams hasn’t yet emerged, it certainly doesn’t mean they won’t. Selling a home for top dollar fast is actually pretty simple. You just have to find the one person who’s willing to pay more for your home than anyone else. If they want it more than anyone else, then they will be willing to pay a higher price than anyone else.

POINTS TO REMEMB O REMEMBER

• Many sellers get frustrated and reduce their price prematurely. • If your house isn’t selling, it means you haven’t found the right buyer yet—the buyer who wants your home enough to pay top dollar.

CHAPTER 5 What Stops Perfect Homes from Selling om Selling

Have you ever wondered why no one bought your house? I’ll explain the likely reasons in further detail as this book goes on. Have you ever heard the saying, “Build a better mousetrap, and the world will beat a path to your door?” Even though the saying might appear to be correct—at least on the surface—it’s false. More than 4,400 people have invented what they thought was a “better” mousetrap. At least, that’s how many patents have been filed with the U.S. Patent Office. But despite all the new mousetrap inventions, the classic mousetrap, first patented in 1894, is still the best-selling design. I’m sure each of those inventors is frustrated. “Why won’t anyone buy my mousetrap? It’s genius!” they say to themselves. I’m sure you can relate to their frustration. Have you ever thought the following? “Why won’t anyone buy my house? It’s a great house!” Fortunately, there’s an answer to this question. “One cannot throw a great product out on the street and expect people to gobble it up.” This rule applies to inventions, homes, and even movies. Yes, even great movies need to be sold! Here’s an example of a great movie that didn’t do well when it was first released.

On September 23, 1994, the movie The Shawshank Redemption was released to the world. Adapted from a short story by legendary author Stephen King, the feature film centered on a pair of imprisoned men. Over 20 years later, The Shawshank Redemption is now considered one of the greatest movies of all time. In fact, it’s ranked as the best movie in cinematic history on well-known and respected website Internet Movie Database (www.imdb.com), ahead of the likes of The Godfather; The Good, the Bad and the Ugly; and Schindler’s List. Another movie came out that year. The Flintstones , a live-action remake of the 1960s cartoon show, starred John Goodman, Rick Moranis, and Rosie O’Donnell. The Flintstones , perhaps needless to say, was not nominated for Best Picture at the Oscars. “It falls flatter than a granite slab,” noted a national film critic. Though the film was praised for its costume and set design, it also won “Razzie Award” for Worst Female Performance and Worst Screenplay, and was a nominee for Worst Movie of 1994. Its IMDb.com user reviews are roughly half of what The Shawshank Redemption receives, and it’s rated by users as one of the worst movies of the 1990s. A team of salespeople masterfully marketed The Flintstones to its targeted demographics. The result? The film grossed $131 million in the U.S. and $358 million worldwide. That’s the power of targeted marketing. On the flip side, the people at Universal Studios who promoted The Shawshank Redemption admitted they couldn’t figure out

how to sell the movie to the public. They had a great product; they just didn’t know how to sell it. It grossed only $28 million in the U.S. box office and $60 million worldwide. It ranked 51st in box office success in 1994—two spots behind In the Army Now, starring Pauly Shore. Look at those numbers, then look at them again. Still don’t believe good marketing and salesmanship matter? The folks at Universal learned their lesson—even the best products need to be “sold.” Is your home a great product that wasn’t marketed properly? As we discussed earlier in this book, selling a home for top dollar fast is actually pretty simple. You just have to find the one person who’s willing to pay more for your home than anyone else. If they want it more than anyone else, then they will be willing to pay a higher price than anyone else.

POINTS TO REMEMB O REMEMBER:

• Having a great product—or house—isn’t enough. • Whether you’re selling films or houses, you can’t beat the power of targeted marketing.

CHAPTER 6 How to Sell a Home That Didn't Sell — Without 't Sell — Without Dropping the Price It is entirely possible to sell your home without dropping the price. I’m going to let you in on a little secret. The standard approach is all wrong . It’s based on the faulty premise that if you tell enough people about your house, someone will buy it . While having more people look at a home does increase the odds of it selling, this doesn’t actually sell the home. The bottom line is that not everyone wants to buy your home. Yes, they’d love to buy it for a bargain basement price. Even if they hated it, they’d still buy it for half price—only to turn around and sell it for a quick profit. The key to getting top dollar is finding that buyer who wants your home badly enough to pay full price. Sometimes, if you’re lucky, you’ll find a buyer who’s willing to pay more than full price. Yes, that does happen. The problem is, most people are so focused on telling everyone about a home for sale that they forget about the most important thing.

You have to find that one special buyer . The question is, how do

you find the perfect buyer?

First, you need to understand a universal rule we are about to discuss and the role it plays in bringing in those ideal buyers.

POINTS TO REMEMB O REMEMBER:

• The standard selling approach is based on the faulty premise that if you tell enough people about your house, someone will buy it. • In truth, you must find the one buyer who wants your home so badly, he or she is willing to pay full price.

CHAPTER 7 Avoid This Rule at Your Own Risk

The key to the successful home-selling approach is based on a revolutionary concept discovered by an Italian economist. His name was Vilfredo Pareto. The most important thing we can learn from him is the Pareto Principle, better known as the 80/20 rule.

The 80/20 rule applies to all aspects of life.

In 1906, Vilfredo found an intriguing correlation. He noticed that 20 percent of the pea pods in his garden held 80 percent of the seeds. Studying the seeds prompted him to take a closer look at this ratio. In one of his initial discoveries, he discovered that 80 percent of the land in his area was owned by 20 percent of the people. After detailed study, he observed this ratio held true in many aspects of life. The Pareto principle—or the 80/20 rule—is a result of his findings.

The 20 percent is vital, and the 80 percent is trivial.

For example:

• 80 percent of your income is derived from 20 percent of your work.

• 80 percent of a business’ income is derived from 20 percent of their customers. • 80 percent of your value to an employer is derived from 20 percent of your work. You might wonder what all of this means. In a nutshell, approximately 20 percent of what you do matters. The other 80 percent is insignificant. It’s important to understand that this isn’t always split at exactly 80/20. It can be 70/30 or another percentage. The key is that the two numbers are not equal, and they are usually close to 80/20. How can you apply the 80/20 principle to selling your home? Understanding this concept can save you time in selling your home. Unfortunately, many sellers buy into the false idea that more is more. They completely ignore the Pareto Principle. Now that you know what the 80/20 rule is, you’re probably wondering how it applies to selling your home. When you use the 80/20 p e 80/20 principle in selling, you stop trying to sell people on the entire home. Based on the rule, only 20 percent of your home’s features are important. The remaining 80 percent are less improtant. That’s because they are the same features many other homes in your neighborhood have. Instead of focusing on those trivial features, you need to focus on the vital features. When you sell your home, focus on unique features to grab the attention of buyers. These features make your home different from other homes. These features will make it easier to sell your home for the full asking price.

Let’s look at a few real-life examples of how the 80/20 rule can have an impact on selling your home.

POINTS TO REMEMBER: O REMEMBER:

• According to the 80/20 rule, approximately 80 percent of effects come from 20 percent of causes. • Following that principle, buyers will focus on 20 percent of your home’s features. The other 80 percent are probably common to other homes.

CHAPTER 8 Why This 20% Rule Applies ule Applies to Hard-To-Sell Homes o-Sell Homes Let’s paint a hypothetical situation. Let’s say there’s a buyer who’s looking for a three-bedroom, two-bathroom home. Let’s now assume the agent found him five houses to preview. Each meets his general criteria and is located in his preferred area. He and his agent drive out to look at the five houses. All have very similar features. The prices are comparable. In theory, you might think the buyer will have a hard time deciding between houses. In real life, that’s not the case. No matter how similar they might seem, no two houses are exactly alike. The 80/20 rule comes into play. Imagine four of the houses don’t have a pool, but one does. The buyer isn’t aware of this, though, because the agent didn’t mention it. The buyer sees the four houses that don’t have a pool. He isn’t particularly interested in any of them. Then, he sees the fifth house and the pool! Suddenly, he’s ready to make an offer. He might even pay full asking price, even though this house is more expensive than the others.

THE 80/20 RULE IN ACTION: CTION: BUYERS FOCUS ON UNIQUE FE OCUS ON UNIQUE FEATURES

His offer isn’t based on the 80 percent of features this house shared with the rest. Instead, his bid is based on one unique attribute—a pool (the 20 percent). The 80/20 rule predicted the sale of this house. Sadly, in this case, much time was wasted finding the perfect house. Had the agent known to look for the 20 percent difference, this could have been their first stop. As a seller, you can leverage the rule to work in your favor. Draw attention to defining characteristics in your home with your marketing plans. Here’s a real-life example. An agent had a client visit from out of town. The client didn’t have a list of criteria; he just liked the area. She drove him from house to house. In each case, this buyer suggested offers 10 percent to 20 percent below the asking price. He would not budge. The agent began to worry. The whole day was turning into a big waste of time. As the sun set, they stopped at one last house. It did not have much curb appeal. It was not a good-looking home. She was out of options. Nevertheless, this house broke the tough negotiator down. He was suddenly willing to offer the full asking price! You might wonder what set this house apart from the others. It was not because the buyer had a “thing” for ugly houses. Nope. The 80/20 rule kicked in again. This agent and her client spent the whole day looking at houses that shared 80 percent of the same features. He didn’t care about any of those details. A bedroom was a bedroom, as far as he was concerned. This plain-Jane house had something special. And he fell in love with this one remarkable feature of the house. As you walked into

the great room, there was a large window. The house sat atop a hill with a gorgeous view. And to top it off, the sun was setting below the distant tree line. That view sold the buyer. The other 80 percent could be improved. He didn’t buy the house because he liked the floor plan or the number of bedrooms and bathrooms. His decision was completely based on the hill and view. That view caused him to stop negotiating and offer full price on the spot. Such is the power of the 80/20 rule. Learn how to tap into this rule, and you’ll not have to settle for less than your asking price. Leverage a unique selling point. Buyers who fall in love don’t bother to haggle over pricing—they make good offers. In some cases, the 80/20 rule even helps people make a sale without conducting a showing. This is a huge time saver. The house in the following example had languished on the market for months. Unlike the previous house, this place was not ugly. On the contrary, it was a brand-new, custom-built home. But nobody seemed to care. It sat on the market more than seven months without a single offer. The builder was baffled when his fancy new house would not sell. He ended up firing his agent and hiring a new one. Fortunately, the new agent knew the importance of finding that special feature. He drove out to give the house a thorough investigation. What he found changed everything. The house had a gorgeous five-acre yard. Other houses being sold in the area were all on one- to two-acre lots.

Not only was the yard bigger, it was more private than other lots

available. The new real estate agent marketed the five acres. He mentioned details and a description of the house. But the house was not the main selling point, so he shifted attention to the five-acre lot. In no time, his phone rang! A buyer was relocating. He had noticed the house was for sale, but it hadn’t caught his eye. That changed when he learned it was built on a five-acre lot. Suddenly, he was very interested. So interested, in fact, that he submitted an offer from 1,000 miles away. He had never even seen the property in person! He was afraid someone else would buy it before he could, and he would lose out on the perfect house. That sale happened in 45 days. The builder was amazed! His house had been on the market close to eight months without so much as a nibble. Suddenly it was sold—purchased, sight unseen, all because of the 80/20 rule. By shifting focus to the five acres, the real estate agent captured the interest of buyers immediately. The house was no longer unsellable. On the contrary, for a short time, it became the hottest house on the market. Don’t create an advertisement similar to the ones for every other house in the area. Instead, turn a spotlight on something different about your home. You will attract interested buyers—buyers who are willing to pay full price.

SELLING TO INTERES O INTERESTED BUYERS

Find something unique about your home. Build advertisements around that one item. It will catch people’s attention. Buyers who are looking for that one item will ask to come see your home in

person.

As a result, you’ll stop wasting time showing to people who just aren’t interested. Instead, you’ll show your home to buyers who are motivated to make a purchase. You won’t have to show quite so often. You also won’t have to sift through lowball offers from apathetic buyers. This means less stress for you. With that in mind, it’s essential that you take time to uncover your home’s most attractive and unique features. Compare notes with other houses in the neighborhood to see what makes yours stand out.

POTENTIAL UNIQUE FEATURES

Each house will have its own unique features. You might already have some in mind. If not, these ideas should help to get you started: • Hilltop views are an excellent defining feature. As in an earlier example, a high vantage point offers a view of the surrounding area. • Maybe your home looks out onto an open field, frequented by wildlife. Many people would like that view. • Your house might even have an unobstructed view of the sunset. That would interest potential buyers. • Patios are another great feature. Maybe the rest of your neighbors don’t have patios, or their patios are smaller. That vital feature could help you sell your home. • Location is something else that can set your property apart from others (not your addressed location, but rather, your location compared to the surrounding

homes, such as on a cul-de-sac).

Here is what we mean by location. A buyer once paid extra for a townhouse, simply because of its location within the complex. Most of the surrounding homes had no yards. However, a few shared a large half-acre “yard area.” One of the owners whose townhouse backed up to this yard area was able to sell his townhouse for a higher price. It set his property apart from others on the market. His home had a characteristic—the yard—shared by fewer than 10 percent of the others. He had the only available listing offering that feature. With this easy point of difference, the house sold for a higher price. Another townhouse seller in the same complex found a different unique feature. He didn’t have a yard, but he was still able to use his location to his advantage. His property backed up to a lake and fountain. That extra feature helped him sell his townhouse quickly and for a great price.

Here are more examples of unique features.

• You might have a private location. For instance, your lot might be partially concealed by trees, or you might have an empty lot next to you. Use this to market your property. • You might have a unique backyard. If you have a larger backyard than your neighbors do, use that to your advantage. • A shady backyard can also help you sell your property. Some people like the idea of lounging in the shade or

enjoying the privacy. • A fenced-in backyard is also a big selling point. People with children and pets flock to homes with fenced-in backyards. • You can also look at other features. For instance, a finished basement can help you sell your home. You can also market a large attic, an extra-large garage, a swimming pool, or anything else that makes your home stand out. Look for the 20 percent difference, and find a way to market it. That’s how you’ll get results. You can’t just throw the information into your listing, though. You have to take the right approach.

POINTS TO REMEMB O REMEMBER:

• No matter how similar they might seem, no two houses are exactly alike. • Buyers focus on—and pay more for—unique features. • Unique features could be almost anything—a big lot, great view, pool, finished basement, even a distinctive yard or patio. • Look for what makes your home unique, and advertise it to potential buyers.

CHAPTER 9 Grabbing Any Buyer's Attention Appeal to your target market. Having the information you need to advertise your property is an excellent first step. However, it’s only the first step. Once you have the information, you need to put it in your listing. Simply adding it in isn’t enough. You need to make sure people see it, or it will not help you.

BEGIN WITH A PICTURE

When people visit a real estate website, it takes them just a split- second to decide whether they’re interested in a property. That’s because they see a picture of it. Before they even know it, their brains tell them “yes or “no.” If their brains tell them “yes,” they click on the listing. If their brains tell them “no,” they move on to the next property. It’s your job to ensure people’s brains say “yes” when they see your picture. You do that by photographing your home’s unique feature and using it as the display picture. Make sure the photo is high quality. Of course, some people won’t be interested, even after they see your display picture. That’s okay. Remember, you want to focus on appealing to those who will buy your property—not to the masses. You’re just wasting your time if you appeal to people who are not interested in your unique features. 33

BE DESCRIPTIVE

Focus on your description. Put one or two special features right at the beginning of the description, so people will see them immediately. You can also put them in your headline. This will help attract the right people. If you do this, you’ll notice the quality of your leads improve. You will show your home to people who are ready to make a purchase. You will also get more offers close to, or at, your asking price. While all of this is great news, you still have one more thing you can do to increase your sales.

TURN A NEGATIVE INTO A POS O A POSITIVE

Nothing kills a sale like a big negative. Fortunately, you can often turn a negative into a positive. Consider this example. Let’s imagine you own a house built 10 years ago. You want to sell your home, but there’s a problem. A nice, new development recently opened in the area. Builders are selling brand-new houses. The houses are roughly the same, but the current price for the new properties is about $40,000 more than the asking price of your home. Nevertheless, you’re certain buyers will choose the brand-new houses, just because they are new. They hold a greater perceived value. Buyers don’t stop to consider that in five years, it won’t matter. Their house will be five years old, and your place will be 15 years old. But that’s not all.

Their five-year-old place will not fetch an extra $40,000,

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