Sell Your Home – Take control and get your home sold

By shaye • July 31st, 2010

The best tips anyone can ever give you when selling your home is to be educated and adaptive. An educated seller understands and listens to the local real estate market and knows what their agent is doing to sell their property. You and your agent need to change with the trends while on the market allowing you to make the necessary adjustments to your listing and to sell faster than the market absorption rate (time it takes to sell a similar home in your area). Taking control of your selling experience and working with your agent is vital to get your property sold. And, tools are readily available to assist you in this process.

Listen to the market and be open

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to making appropriate decisions regarding your home. The agent is in the industry and can communicate the facts and trends of the market place. Your job is listening to the market and using that information to make the right changes to your property. Interpreting the difference between the agent’s voice and the market can be easier said than done. And certainly, establishing effective communication can be difficult. The market reflects changes in competing properties, reports the prospective buyers’ opinion of your home, and follows home supply and demand in your local area (market absorption). Being attentive to the market allows you to make educated, informed decisions while selling your home. You should never feel as though you are making changes, like lowering your price, because that is what your agent said to do. You lower your price because of conditions in your local market conveyed by your Agent after analyzing feedback, competing homes, and market absorption.

Be confident that you are going to sell. Start packing. Become a minimalist. Every good agent will tell you the way you sell your home is different than the way you live in your home. A stager who focuses on making the best use of what you already have rather than spending on new décor can be an excellent investment. You may need to do some inexpensive tasks like painting, recovering an old chair or adding additional lighting to rooms. Do the small stuff. Boost your property’s condition above expectations!

Work with your agent to design a marketing plan specific to your home, considering its location, amenities and potential buyers. A growing number of buyers are finding their homes online, over 70%, so a strong Internet presence is essential. Furthermore, every home is different and every real estate market is unique to its location. Most agents have a similar plan for each home – a tried and tested plan that works most of the time. Also incorporate qualities that are specific to your home, neighborhood and community.

Take an active part in the marketing process. Marketing your home should not rest entirely on your agent’s shoulders. You own the home and you are the best person to talk it up! Just as important, be flexible with your plan. If you are not getting showings and/or positive feedback, something is not working, so make changes. Collaborate with your agent to develop new strategies and put them to work. Never hesitate to try something new.

Lastly, make accountability a priority. After you’ve designed your plan, hold both yourself and your agent accountable to perform. Use a system for staying in touch. Affordable and easy tools are available to your agent for keeping you in constant contact, informed, and educated on the market. A communication tool like Update Lane (www.updatelane.com) allows you to follow your agents marketing activities, read feedback from potential buyers, track competing properties, and access and share all documents in one place online.

With your marketing plan and communication system in place, you can now start making educated decisions and working with your agent to get your home sold.

Happy selling!

Dan Powell is a Realtor(R) in Indiana and a prior management consultant for a leading international consulting firm. He is the CEO of Update Lane. You can learn more about Dan by visiting www.in-re.com. You can learn more about Update Lane by visiting www.updatelane.com.

 

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