So, you are ready to sell your home?! The next steps you take will have the biggest impact on how soon and for how much you can sell your home. The process illustrates how the Full Sale Team have successfully sold homes in The Heights community and throughout the Tampa Bay area for over 17 years, and how we will best position your home for sale!
While gathering the data about the market and your home is a fairly standard method, most Realtors employ the “3 P” method of marketing a home. Post a sign in your yard, Place your home in the MLS system, …. and Pray that someone will either call or another Realtor will have a buyer for your home.
The Full Sale Team takes a different approach that will actively market your home using our 3 P process… Preparation, Pricing and Promotion! This next section illustrates how we excel at accomplish marketing your home utilizing the best technology, network of local professionals and personal sales techniques that are tailored directly to focus on your neighborhood in order to market your home to the world.
Market Analysis & Competitive Home Sales
Looking outside the box at the market and other homes to find out where you stand:
• The Full Sale Team regularly analyzes homes sold, sales price, $/sqft, and the average days on market of each individual neighborhood in The Heights to identify what the true potential sales price of your home, at the anticipated point in time of your sale.
• Our team also utilizes an industry specific statistical modeling system to estimate value based upon previous sales and municipal data which is regularly proven to be 90% or better able at predicting the true sales value of your home.
• By identifying all the unique features and upgrades we can then compare all active, pending and homes sold within the last 6 months in your neighborhood with yours to determine the best competitive position to market your home.
• Calculate a Fair Market Value of your home and produce a pricing strategy based upon these findings and the competitive environment for your home.
• Market analysis are great studies into where you stand at any given day. However, home sales in The Heights are selling at one of the fastest paces throughout the area and throughout the state. The information gathered should usually be reconsidered if more than a month old.
National Association of Realtors states that 80% of all interested buyers will consider your home within the first 21 days being on the market. Pricing your home competitively during this period usually yields the highest returns. Homes that are on the market for longer periods frequently sell for less than what would have been realized if originally more competitively priced.
As mentioned in the pricing strategy, seasonality will impact the overall market audience. However don’t overlook that Florida, and Tampa specifically, is in a growth boom. There are people moving to town all through the year. So listing your home during a slower season might yield a better price simply due to the lack of competition.
Staging – What stays and what goes
Staging is the preparation of your home in the best light of being considered for purchase. The process has as much to do with preparing your home, as it does with preparing to move. The ultimate goal of selling your home is to relocate to your next new home. People who consider buying your home want to envision their belongings placed in your home.
If logistically possible it would be best to move to your next home, and then empty and stage the home you are attempting to sell. Staging is a process of placing very non-descript furnishings into the home in order to illustrate room dimension and functionality. If you would like to learn more about staging vendors and opportunities, check out our Vendor Page.
If you will be living in the home throughout the sale, it is best to depersonalize your home as much as possible. A good rule of thumb would be to remove or pack up and store approximately 60% of your personal items, such as photos, nick knacks, books, etc. You could store these items in the garage, hire the PODS company or utilize a storage facility.
One of the most essential things is to assure your home is as clean and welcoming as possible. Hire a professional “deep” cleaning service. Focus on washing the windows, cleaning the grout, behind the oven & fridge., etc. You may also consider painting the interior of the home, or maybe at least the door jams and base boards. The smell of fresh paint is a secret weapon to attract buyer’s sense of “newness”. Curb appeal is how inviting your home looks from the street. Mulching your flower beds, painting your front door, planting spring annuals are all affordable ways to enhance your homes look.
Setting the initial price for your home is derived from the “market value” taking into consideration environmental & market factors and your overall objectives.
Getting the most money for your home AND in the quickest time one must consider the home pricing pyramid. This concept illustrates that the higher you price your home from the base market value the smaller the audience you will attract. Pricing your home 15% above market value will only attract 10% of the overall market of potential buyers. As you lower the price toward at or below market value, a larger and larger population of interested buyers will consider your home. The more buyers interested in your home, the quicker the sale. It is wise to understand true market value and strategize your initial pricing based upon how long you can afford to market the home in order to realize the best possible price obtainable.
You should also take seasonal and environmental factors into account for both the listing date and the expected duration of selling your home. Vastly more homes sell in in the Heights during the Spring and Summer than do in the fall or winter. However, there is a seasonal “bump” just before the New Year for homeowners who are entering the market based upon new jobs in the area. Additionally, if they just broke ground on a new construction home next door, there may be an impact toward your curb appeal both prior to and after they finish. Everyone interested in home values in Seminole Heights is concerned about the economic implact of the TBX highway expansion project, and other municipal renovation efforts.
Promotion – Marketing Your Home
Technology has obviously changed the purchaser’s behavior during the home buying process. Today 94% of buyers use the internet in their home search, however 96% of buyers that used the internet when searching for a home purchased their home through either a real estate agent/broker or from a builder. Only 2% purchased their home directly from a seller whom the buyer didn’t know.
The Homeward Real Estate Full Sale Team is heavily invested in advertising for these buyers both through traditional online search like Google & Bing, the approximately 250 international real estate search sites such as Realtor.com, Zillow & Trulia and through various social media sites like Facebook, Instagram & Nextdoor.
Buyers search for a home online, but then depend on a licensed agent to find the home they will buy (50%), to negotiate the terms of the sale (47%) & price (36%), or to help understand the process (61%).
Buyers reach out to real estate professionals to “connect the dots.” This is obvious as the percentage of overall buyers who used an agent to buy their home has steadily increased from 69% in 2001.
Bottom Line is if you are thinking of selling your home, don’t underestimate the role that a Realtor can play in the process. However, if there is still that thought that representing yourself in the sale of your home, please consider this article – 5 Reasons You Shouldn’t For Sale By Owner (FSBO)
Our 8 Week “Go To Market” Process
We take seriously a family’s transition to your next new home and assuring you that we will be able to obtain the highest price, in the quickest time, and with the least amount of disruption in your life. We have outlined 25 tactics of how we have successfully sold homes all over the Tampa Bay area.
Once you have hired us we will customize a personal 8 week “go to market” plan which will implement these tactics daily. We are confident that employing this unique process will sell your home for top dollar too!