The 3 P's of Selling Your Home
The 3 P's of Selling Your Home
Price - Product - Promotion
That's it. The three things that must be properly orchestrated when you go to market with your home to sell. Let's look briefly at each.
Price. There is a Proper Price for every home. It is a price that takes into consideration the trends in the local market, the range of prices in the neighborhood and recent real estate activity. Hitting the market with a Proper Price is essential to a successful sale. At any given time there are a certain number of home buyers working through the local market looking for a suitable home, a home like yours in your neighborhood. This is the largest group of potential buyers who will exist during the term of your listing and they will discover your home the first couple of weeks it is on the market. After that, you have to wait for that perfect buyer to trickle into the market. Entering the market with an inflated price will cause many of those initial prospects to eliminate the property. This is why starting high because 'we can always come down' is not the best strategy!
Product. Your home becomes a product the moment the sign goes in the yard. Like any other product, it must compete with similar products. Think about that for a moment. Now think about it in a different arena: how do you decide which bottle of shampoo to buy? Sometimes it's the price, sometimes it's the packaging, sometimes it is the perception of quality. We've already established a Proper Price for your home and perceptions are greatly influenced by our next topic, Promotion, so here we are talking about Packaging. How will you package your product so that it stands head-and-shoulders above the rest (wink)? Of course it has to be impeccably clean - especially kitchen and baths - the paint and flooring should be fresh and the yard has to be so appealing that potential buyers will want to get out of the car to come see. You want that product to be shining brightly the day it goes on the market, again, to appeal to that initial pool of buyers.
Promotion. Properly Priced and Prepared for selling, your home now needs to be marketed. With the maturation of the Internet, real estate marketing has become a largely level playing field. Almost all Realtors have access to the most powerful home selling tools: the MLS, Trulia, Zillow, Realtor.com and other property portals. What's important is to find someone who can do all of that and bring a certain creativity to the process. In addition to all of the standard fare, what other tools are they using to generate a flow of buyer leads into the office? Are they using Social Media? Virtual Tours? Do they have a large client base? Are they exposing the property outside the local market? And, what is their track record with other home sellers?
In the end, a successful sale comes down to the Broker you choose. The right one will help you set that Proper Price and work with you to get the product ready for market. He or she will quickly engage all of the power of the Internet and bring other tools and systems to bear on creating exposure for your home. The very best Broker will do all of that and save you thousands of dollars in real estate commissions!
At Help-U-Sell Conejo Valley, we are masters of the 3 P's, and we have the track record to prove it. Our clients rave about their experience as you can see from their testimonials. We out-perform the MLS (in other words, all of the other brokers in town) in key areas like days-on-market, sale price as a % of list price, and seller savings. We welcome the opportunity to work with you through the three Ps, delight you in the process and save you a ton of money at the same time!
Help-U-Sell Conejo Valley is a progressive, full service real estate company saving buyers and sellers thousands in Westlake Village, Thousand Oaks, Oak Park, Camarillo, Oxnard, Simi Valley, Los Angeles and all of the Conejo Valley. You may reach us at (805) 379-3300, or by email to [email protected]