Are you out looking at properties, but haven’t had a business conversation yet with your agent? If so, I have one word for you – STOP!
Top tip for home buyers – who represents you is very important for one of the biggest purchases of your life. This is what they don’t cover on HGTV or on Google. In this video, learn from my first time home buying mistakes back in the 90’s:
Before we start opening doors, I sit down with my clients in our office, a cafe or their home to go over their home buying goals for lifestyle and financials, what’s their style of negotiations, review the highlights of the contract process and share with them tips for success. In essence, we interview each other and then make a decision to work together proactively to accomplish their goals.
Your privacy and negotiation power is only protected by hiring a buyer agent with a Buyer Agency Agreement. I’ll go over this in more detail and explain how this significantly impacts your bottom line when we meet.
To start, enjoy my Home Buyers Guide with tips on what to expect and how to interview your agent.
What’s the secret sauce to create the “buzz” and exposure needed to position your property in front of the right buyers, in targeted demographic areas? It’s strategic, or smart marketing. Please allow me to explain.
Traditionally, real estate selling falls into 3 P’s:
Place on the MLS (or generic posts on social media)
Put up a sign
Pray for an offer
In a hot sellers market, this minimalist approach might work. And unfortunately, that reinforces the mindset that it is effective. I understand the thinking of For Sale by Owners, because if this is all that’s done, in effect the house seems to be selling itself.
When the market starts shifting into more of a buyers market, the truth comes to light that this strategy simply doesn’t work. Even in a hot sellers market, it doesn’t yield the highest net from market activity.
For my seller clients I create a personalized strategy to position the property in its best possible light, tell the unique “story” of the lifestyle of the home, and create a specific marketing plan to position the property in various ways to targeted buyer demographics. That’s in addition to extensive marketing to both consumers and realtors in local market segments as well as networking with realtors nationally.
For instance, I had an opportunity to help the seller of a new construction condo in Queen Village that hadn’t sold after being on the market for more than 10 months. The objections were the size. Analyzing the market, I felt the asking price was competitive but we needed to present the lifestyle and target specific types of buyers where the layout wouldn’t be an objection.
I created a multi-faceted marketing plan and re-listed it at the same price. The marketing included:
Staging the two decks emphasizing the outdoor areas
New video under 1 minute for use on social media
Multiple Instagram and Facebook ads targeting working professionals, technology, medical and education industries and showcasing “work from home”
Telling the story of living in Queen Village
Geographic areas targeted outside of Philly included New York – where the buyers ended up coming from!
We had competing offers and got it under contract within the first 3 weeks on the market without lowering the price!
For a detailed analysis and marketing proposal targeted to meet your goals, please contact me today.
One of the most difficult decisions a seller needs to make is when to put their home on the market is when to sell. Putting too much emphasis on timing as opposed the appropriate price of the can be counterproductive and result in the property staying on the market for months.
THE TIMING FALLACY
It’s common to talk about real estate as a seasonal industry, suggesting that sales are related to the time of year rather than recognizing that any number of other factors can have a far greater impact than timing or season. No two years are the same and home sales can take place at any time of year.
Beliefs create reality right? And when agents tell their clients to wait until Spring, then that is when they will sell. However, homes sell throughout the year.
Each home and each micro-market are unique. It’s important to carefully analyze what’s best for you. We will analyze real buyer activity in your market, and choose the “bulls eye” for your goals.
This means that there are no hard-and-fast rules when it comes to the timing of a listing.
PRICING AND MARKETING
Pricing and marketing are the only two factors we can control. My job is to provide expansive, create marketing to make sure your home has the greatest possible exposure, to the best potential buyers.
How to get the highest offer in today’s market? Staging is not just furniture, it’s about telling a story that makes the right buyers fall in love. One of the mainstays of Main Line estate homes is a gracious library. Many of today’s luxury buyers no longer view a library as desirable. They look for technology based amenities, like Control 4 smart systems. Yet a library is a very positive feature if positioned creatively.
How to present the features and benefits of a library, but also appeal to modern luxury buyers? Staging can transform the area making it attractive to both traditional and modern luxury buyers.
Staging is not just furniture. It’s about re-packaging the property in the best possible way for today’s buyers.
How can we present your home to net you the highest price in today’s market? Let’s talk – I have solutions for you!
HousingWire ranked Manayunk as #2 area in the country for Millennials, after Chicago’s West Loop:
“On the other side of the spectrum in terms of physical makeup, Philadelphia’s Manayunk neighborhood, has almost as high of a Millennial population as the West Loop (71%), but instead operating as a big business neighborhood, Manayunk is a hip, small business hub, lively but not bursting at the seams.”
Of course, that’s no surprise to us! All age groups enjoy the lively, active lifestyle of Manayunk living. With great places to shop and eat along Main Street, like Winnie’s where your bike gets service too, you can’t help but love it!
To search all Manayunk area homes and apartments for sale or rent – click here and let’s meet for coffee!
What do you think of when you hear words like “foreclosure” and “short sale”?? Most don’t think of multi-million dollar estate homes. But reality is that sometimes luxury home owners face impossible situations. Like a home that’s worth only 1/2 of what it was in the peak of the market, or simply “under water” on values and the market won’t support a successful sale.
No one is exempt from tragedies like a medical crisis that can turn your life upside down, no matter what your income bracket. I’ve found my luxury clients face some additional challenges. While many people suffer from lack of resources, on the other hand bad information can come from high net worth advisers.
For instance, a client of mine was given advise by her attorney to make significant repairs / improvements prior to selling based I believe on a Zestimate valuation. It wasn’t a correct valuation and ended up causing the owner to incur more debt instead of simply resolving the bad mortgage debt.
This home was on the market for $3.5M and failed as a short sale and went to foreclosure. Now it’s listed by the bank for $1.9M.
No matter what the situation is, please contact me. No one has to go to foreclosure. There are options! For more info – fightthebank.org
How to sell amidst objections? I created a story for this Rittenhouse Square luxury condo that would appeal to New York buyers who love access to Philly’s 30th St Station where it’s an easy commute.
Selling luxury requires successfully sharing the emotional experience of the home’s lifestyle, not just property photos.
This delightful one bedroom has a 800 sf private deck offering a unique indoor / outdoor lifestyle in the heart of Rittenhouse.
What matters is the end result for my clients. In this case they were long distance and we did everything remotely. The market was challenging and didn’t offer what they ideally would want, but we accomplished the highest net possible and here’s the end result which is all that matters.
“We found that Susanna was up-to-date on the market conditions in Central Philadelphia. We appreciate her frankness and honesty about realistic pricing. She was very accommodating arranging contractors, cleaning personnel and staging companies to present our property in the best light. I consider this a true one stop shopping experience. I must also command Susanna’s staff, for handling the logistics in a smooth and painless manner. This was especially important to us as we do not reside near Philadelphia.”
For more information on how to sell in today’s market – let’s talk!
A recent Philly.com article featured three Philadelphia Craftsman Style homes and indicated these features generate a premium value – equal to 34% increase!
What exactly is a Craftsman Style home? According to Wikipedia:
The American Craftsman style, or the American Arts and Crafts movement, is an American domestic architectural, interior design, landscape design, applied arts, and decorative arts style and lifestyle philosophy that began in the last years of the 19th century. As a comprehensive design and art movement it remained popular into the 1930s. However, in decorative arts and architectural design it has continued with numerous revivals and restoration projects through present times.
With our abundance of row homes in Philadelphia, Craftsman features can be hard to find. What are the best areas to search? Germantown, Girard Estates in South Philly, Manayunk, Roxborough and on the Main Line some of my top picks are in Ambler and Media.
What are your ideal features in a home? Let’s talk and I’ll help you find the right match!