The 4 P's

Last week I did a pre-sale consult with a client of mine. His family is looking to sell their condo and move into a single-family home with more space for his children. He is a first-time seller, so I answered some questions regarding upgrades and pre-sale prep he can do to sell his property for the best price and terms… anyone can sell a house if they discount the house, but our goal is to get TOP results.?

Not complicated things, but as Rockefeller said:

“The secret of success is to do the common thing uncommonly well.”

Here we go!

If you want to net top dollar for the sale of your house in 2024, there are 4 “P’s” to make that happen: Price, promotion, presentation, and personality.?

PRICE

Overpricing your home can lead to stagnation and a lack of buyer interest while underpricing may lead to attracting the wrong buyer. Buyers today are savvy and can quickly determine if the price is right based on all of the homes they see online, so it is important to price your property for the market properly. There are different strategies and game plans I offer to my sellers: testing the market, market price, and aggressive pricing. The main thing is to have a pricing plan based on the current market conditions, your selling timeline, and what sort of property you are marketing for sale.

PROMOTION

This is marketing. This is where my real estate sales team shines and it includes all aspects of promotion like for-sale flyers, neighborhood pre-market dialing, signage, property ads, open houses, professional photos and video tour promotion.. A property that is priced correctly and promoted well will get the RIGHT kind of buyers in the door for a tour.?

PRESENTATION

Once the buyer drives up to tour your property for sale, they will start making judgments on whether or not the house fits their criteria and whether or not it excites them. It is critical to present your property well so that prospective buyers make STRONG offers. What do I recommend? Deep clean and declutter. Depersonalize the house you are selling as much as you can. Add fresh bark or reseed the lawn if you have one, make sure that first impression is strong. Paint touch-up, especially on baseboards. Replace lighting. Stage if you are not living at the house or if you have moved out. Upgrade appliances if they are old and outdated. Remove eyesores like old basketball hoops, trampolines, etc.

PERSONALITY (the real estate team you hire)

For example, my team has started to incorporate a promo video of the house we are marketing, regardless of price point. We believe that everyone deserves a professionally produced commercial for their house. When I am introducing the house for sale I make sure that I promote the house for sale with full gusto and enthusiasm. Excitement is contagious. The same is the case when we make neighborhood calls and host open houses. Besides the personality of the team, it's important to hire a team that specializes in what you are selling, ie. if you are selling a ranch, hire someone who has lived on a ranch, sold ranches, has horse, farms etc. They can speak to the buyers when they have questions.

Those are the 4 "P's" I use to explain how to get the best results. It's a process, but if it means that a home seller gets multiple offers and 20k-30k more than they were expecting, it is a win for us!

Joshua Farris

lic# 01921964

KW Central Coast