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By Matt Clawson and Fawzi Haimor
There is no magic or secret recipe for realtors to employ when taking on a new listing. Generally speaking there is only the mission: maximize the resulting sale price for the home owning client.
The tools agents use are tried and true, but good agents also take the time to evaluate each new listing carefully, crafting a specific plan tailored to a specific home and the motivations of each specific client. The plan incorporates the three phases that are presentation, pricing, and marketing, which together drive demand and value of the home on the open market. Good agents are adept at giving the right advice, and executing the right plan for each specific circumstance.
It all starts with the presentation, and this is also the phase of the process with the largest variation in possibilities. It includes home improvements, yard improvements and home staging, and takes a careful eye and an experienced team with a track record of success. At the M&M Team we have assembled a veteran group to assist with the process, including landscapers, inspectors, tradesmen, cleaners, and stagers, all working closely with our team, while in coordination with the homeowner.
We recommend starting this stage as early as possible. Every realtor has faced the clients who need their home on the market pronto for reasons unforeseen, and we are always willing to deliver. However, this can also limit the overall quality of presentation depending on the specific home, and we always communicate this for our seller’s consideration. How many of us really live in model homes? The truth is, as we live in our homes they age, wear, and in some cases grow outdated, and these are generally conditions that can be improved significantly. Is the paint color throughout the interior a bold color that was hip ten years ago? Why not consider painting with the newest, most neutral color, which is a cheap, quick task that can deliver a big impact. How about the carpet? New carpet instantaneously gives a home a brand new feel and smell, which can greatly improve the first impression, even at a subconscious level, for prospective buyers. The list goes on and on. Hardwood floors might be refinished. Exterior doors (or even siding, stucco, and trim) can be painted. Appliances might be replaced and fixtures too. Basically, we walk the home from the entrance to the foyer, to the living areas, and the backyard, following the same path prospective buyers will, so it’s from their perspective, seeing the space through their eyes, giving recommendations for low cost improvements that will see a great return. Ultimately it is always our client’s decision, as they are the boss, but if they can spend $10,000 to make $100,000, it is generally a decision they feel good about.
We have the house cleaned thoroughly, and windows professionally cleaned inside and out, all preparing for staging day. Not every home requires professional staging, but this final step in the preparation process makes a tremendous impact. A good stager is the final piece of the presentation, furnishing the home with an ideal assortment of furniture pieces and accessories. Staging is different from decorating, in that decorating reflects on the lifestyle and preferences of the occupant, while staging highlights the architecture, and hopes to appeal to the masses.
The final two stages in the process are quicker to execute, but just as important. Realtors usually communicate a likely sales price valuation range and listing price range early in the process, but shortly before coming on market we like to provide one last market survey. We analyze and provide a full, up-to-date comp report, with our own summary included, and then open up a final conversation on the optimum list price most likely to produce the best result for the seller. There are different pricing strategies to employ depending on the needs of the seller, but one of the most common lists the home significantly under the likely final sale price. If utilized with an appropriate presentation and marketing plan, this generates enormous demand in the market, which results in a market determined, highest final sale price the market can bear.
The marketing plan will already be well under way at this point. It starts with targeted promotion to the real estate agent community, via emails, texts, phone calls and marketing meetings, extolling the coming soon property’s virtues. This is one reason to work with a market leader like Coldwell Banker, made up of the top agents in the San Ramon Valley and Tri-Valley areas, and therefore casting a wide net. We also market to our agent friends at other companies in a similar manner, whetting the appetite for what’s to come.
Once the home has been professionally photographed, typically with 3D virtual tours, drone shots, and videos, we generate marketing material and execute a web based media plan. The intent is to do everything possible to promote the gorgeous home we have all meticulously perfected and the vision is on full display in mailers to hundreds of homes, emails to thousands of real estate agents (plus thousands of prospective buyers) who make up the M&M Team’s sphere of influence. We execute a social media campaign, and participate in Coldwell Banker’s “Platinum” advertising package, which includes its own social media campaign in addition to mailers, emails, television advertising, and much more. We door knock the neighborhood, communicating the story of the coming-soon home, and inviting neighbors to share with their friends. In short, we do everything possible to get the word out, and make sure every step of the plan is executed with care and a professional touch.
Why do all of this, when a high percentage of buyers simply discover the home on websites like Zillow, Trulia, or Realtor.com? The M&M Team is well aware, and utilizes those sites too in our social media campaigns. All the effort we put into the presentation of the home, in conjunction with our professional photography, virtual tours, drone shots, and carefully worded home descriptions, all are intended to maximize our home’s image on those sites. Ultimately though, our intent is to represent our clients in the best manner possible, ensuring every step of the way no other agent is doing more. It is the charge we face, to produce the best result for our client, and our history of success is a testament that the M&M Team delivers.
Because the truth is, any monkey can sell a house. At the M&M Team, our duty is to sell that house for more than the other guys. Our mission? Maximize the result for our clients. The plan outlined above includes many facets and opportunities for differentiation based on specific circumstances, but in the end it is truly as simple as executing that plan to the best of our abilities. Our track record of success, resulting in ecstatic, home selling clients, is our evidence that it works.
