Buying a home is often primarily an emotion-driven affair, but in selling your home you must be guided by logic and objectivity. The goal in selling is to maximize profit potential, and many first-time sellers aren’t really aware of how to do this effectively. So here’s our best advice for first-time Floresville home sellers in 2021. Read on to find out what you should do.
Let Your House Go Emotionally
Part of a successful sale is the ability to let your house go emotionally. That allows you to negotiate from a logical standpoint rather than an emotional standpoint.
Price It Right
Pricing right for a sale is said within the industry to be (perhaps) the most important marketing tool. Both pricing too high and too low can hurt your chances of a sale – either one can cause your house to languish on the market. Pricing too high will make buyers pass it by for their tours. Really too low will make them wonder what is wrong with the house. Pricing a bit low can help with a lot of viewings and a potential bidding war.
The best move for first-time Floresville home sellers, because they are unfamiliar with the process of determining fair market value and pricing accordingly, is to use an experienced Floresville agent. When we say Floresville, we do not mean any local agent nor do we mean a big agent from a close area. Here’s why . . .
You’ll fare much better if you select an experienced real estate agent who sells listings in your neighborhood. For us that means Wilson County, not Bexar county.
One of the questions for an agent you are interviewing is “How does my house compare to the others you have viewed in XX (your city or subdivision)?” If an agent is not actively showing homes in your area do they really know your competition and how to compete effectively?
Your agent will analyze comparable sales and prepare an estimate of value – often called a CMA – for comparative market analysis. It is OK to compare this to the Zestimate at Zillow, but note the variances your agent will point out because your listing agent should have the experience and education to provide you with a more accurate “opinion of value.” Also be aware that because Texas is a non-disclosure state Zillow who uses public data to get their Zestimates does not have access to the Texas data as it is not public. If you read the disclaimer on Zillow it will say that their estimates are a starting point and has a chart with their variances across the US but nothing for Texas. So say for example a $200,000 in Atlanta GA has a 15% chance of error which means sales price spread would be between $190,000 and $210,000 and a 4% chance of error sales price spread would be $180,000 to $220,0000. https://www.zillow.com/z/zestimate/# Would you be happy if an agent said “I think your house will sell somewhere between $180k to $220k.” Wouldn’t you want a closer idea of the sales price than that?
To find out more about how your Floresville agent can help you price to sell, just call (210) 216-7722.
Use Professional-Quality Photos and a Compelling Description
You should also avoid skimping on listing photos, both on quantity and quality. The majority of home buyers now start their home search online, and those photos are critical in online listings. This trend will only strengthen and widen in 2021. Statistics say that people look at homes with the larger amount of photos before they will look at one with few photos.
For first-time Floresville home sellers (or any others, really) who will be primarily selling their home online, professional-quality photos are a must. “[Y]ou must ensure that the photos in your listing are top-notch. Investing in a professional photographer will ensure that your property is presented in the best light. Be sure to capture all the spaces around the home, as well as the surrounding views.” The clarity in professional photos draws in a buyer. Also having a good number of photos helps because one never knows what a buyer might be wanting so that backyard may be the factor that causes them to look at your house. Or maybe it’s the big garage, or the nice utility room.
Just as important as the photos is the listing description. It has to be compelling and must contain enough information, but not so much as to overwhelm house hunters. You need to paint a vivid picture of your home and do it in a narrative fashion if at all possible. Again, your agent will have experience in this species of copywriting and can help you craft an irresistible description. Emotional copy helps but don’t want anything too cutesy.
List on All the Online Platforms and Promote
Also, be sure to take advantage of all the online listing platforms and venues. Home sellers should, “for better exposure in 2021, consider listing on multiple platforms. You can choose between property listing websites such as the multiple listing service (MLS), Zillow, Redfin, and Trulia. You could also consider a marketplace like NextDoor.”
But that’s not all you need to do. You also need to promote your listings via social media. Have your agent forward her FB post to you for you to distribute also.
Share your listing(s), for example, in all the relevant groups you belong to while your agent does the same. “Next, promote your listing on platforms like Twitter, Instagram, and LinkedIn with relevant hashtags. You could also consider posting a short video of your home on YouTube.”
Market to Millennials and Gen Zers
A good tactic for any home seller, but especially for first-time Floresville home sellers, is to market to the right and largest audience. And today that would be Millennials and the Gen Zers coming up right behind them. Boomers are the wealthiest buyers and they may be looking for their last home. That could mean downsizing or simplifying their life.
And here’s why home sellers should keep this in mind in 2021 . . .
“The largest generation in history, Millennials, will continue to drive the housing market as they outnumber Gen X and Baby Boomers. Older Millennials will likely be trade-up buyers, while the larger, younger segment of the generation age into their key home-buying years. Meanwhile, Gen Zers will begin to make their presence known in 2021 as they compete with younger Millennials for entry-level homes. The impact of the oldest members of Gen Z on the market will only continue to grow.”
Your agent can help you develop a marketing plan to target this specific market. That is typically through social media.
Hire an Experienced Local Agent
As we’ve indicated throughout, using an experienced Floresville real estate agent may be one of the smartest things first-time home sellers can do – especially since the advent of COVID.
“If you want to sell your house fast, working with a real estate agent is advisable. Real estate agents across the US have quickly adapted to the current situation. So having one by your side will surely help you sell your home during COVID-19.”
Besides, your agent has access to the MLS and other listing venues, which may not be the case if you opt for an FSBO. So if you’re one of the many first-time Floresville home sellers and want to get the benefits of a local agent, contact us today at (210) 216-7722.
Floresville Real Estate Agent – Faye Y Taylor is here for help and to answer any questions you might have
Faye Y Taylor, Floresville TX Realtor®
Serving all of Wilson County and the South Texas area