The "buzz" surrounding the real estate market since about 2014 has been declining inventories. Over the past year some would say that we have hit a critical point with the lack of available listings
Getting Top Dollar With Market Time And Positioning
Dated: November 19 2020
Did you know that getting top dollar for your home doesn’t mean pricing it high? In this video, I’m going to show you the importance of market time and proper positioning to get you the most money when selling your house. We’ll highlight the three keys to positioning your home properly to make sure you walk away with the biggest profit.
What Is Positioning?
One of the most common questions I get when listing properties for sale is whether pricing the property really high—or “testing the market”—is the right strategy. The truth is that doing so can hurt you in your sale. What you need is to limit your market time and position your home properly.
So what exactly is positioning? When we market your home, we need to position it to attract your most ideal buyers. For example, when you go to the store and are thinking about buying something, you're going to consider the packaging, the price, and if there’s a sale offer. Real estate is no different.
Buying a home is an emotional decision, and the key is to emotionally connect the property to its ideal buyer. There are three components of positioning, so let’s take them one by one.
The most important aspect of positioning is pricing. When you price your home right, it will reduce market time. More market time is not ideal, as it will invite low-ball offers, so it’s important not to price too high at the outset.
#2: The Ideal Description
Part of connecting with the ideal buyer is creating a story for your property. You want to include all the pertinent features of the home that would make someone fall in love with it. The more details that paint a picture of the life your ideal buyer will live in the home, the better.
Now that we have correctly priced your property and have included the ideal description, the third way to position your property is through marketing. You want to advertise your home where your buyers are spending their time.
For example, if we have the ideal home for the first-time homebuyer—such as a two-bedroom, one-bath—we’re going to want to market that property to where first-time homebuyers spend their time. On the flip side of that, if we're marketing a four-bedroom, two-bath home, we can make a pretty good assumption that the most likely buyer for that home is a family with some children. So, we're going to market that property exactly where families spend their time.
One of the things we like to do when marketing your property is to actively chase your buyer, rather than putting the listing in the MLS and waiting for your buyer to come to us. The modern-day, aggressive real estate agent will target-market your home where those buyers are at, like Facebook, Instagram, Twitter, and even YouTube.
Positioning To Get Top Dollar
I hope this helped you understand the importance of positioning your property. If you should have any questions about selling your home or about the selling process, please reach out to me anytime and I’ll be happy to connect!
For nearly 16 years Jeff has served the Greater Shiawassee Area through his real estate business and volunteering his time. Recently Jeff acquired his broker's license and along with his wife Missy,....
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