Traditional Method of Selling Real Estate: Flawed, Outdated & Costly
Flawed. Unfortunately, this is the most accurate word to describe the traditional methods real estate agents use to sell your home. The revelation of these flaws first came to me while reading an article by Daniel Burrus, the foremost authority on global innovation and business trends, that talked about how companies that competed based solely on price were doomed to work with razor thin margins on their products and ultimately left a lot of money on the table.
Burrus talks about his work with the soda brand, “7UP”, and how they came to him because they were struggling to compete with the other soda brands such as coke, pepsi and Dr. Pepper. Burrus quickly identified that they were trying to compete based on price which was turning their product into a commodity, much like corn or oil that could only be differentiated by price. His solution is one that when adapted to the real estate market becomes a massive profit maker for home sellers.
Daniel Burrus advised 7UP to change their ingredients to natural, a popular trend in their market mostly made of aging baby-boomers who have a desire to stay healthy, thus competing on quality and what customers wanted, not solely on price. The result was an instant boost in profits and sales. Most real estate agents still try and sell homes just like the flawed way 7UP was originally trying to sell their sodas. Agents will run comparables, add up square footage, and then mathematically calculate an average to get to what they think the proper asking price of the home is.
The flaw here is that it assumes that every home is the same and doesn’t take into account the differences and unique qualities of each home. They’re effectively trying to sell the home as a commodity, competing and marketing solely based on price.
The secret to extracting additional profit when selling is a home is to decommodotize the home. This allows you to take leverage the unique qualities and competitive advantages of the home. The results are a massive increase in selling price and ultimately more money in your pocket.
Here’s how we do it.
1. Perfect Target Market | we identify the perfect target market of potential home buyers for your home and decide what features and amenities are most important to them. Catering to their unique needs shortens the time on the market by as much as 70% and has historically increased the sale price up to $10,000.
2. Maximum Profit Audit | We conduct a maximum profit audit where we tour your home with a 60 item checklist looking to identify hidden sources of profit and how we can activate them based on the demographic and psychographic characteristics we identified in step 1. We frequently unearth up to $12,000 more in profit with this step alone.
3. Pre-listing Inspection | One of the most common reasons for lowball offers is repairs that buyers use to nickel and dime sellers on price and terms. A professional inspector reviewing your home to identify these problems before they can be used against the seller can extract up to $5,000 in profit.
4. Wow Curb Appeal | A professional landscaping designer makes their recommendation on how to achieve the most WOW effect to impress buyers the moment they step out of the car. This shortens the time on the market and is proven to bring in $2,000 to $5,000 in additional profit.
5. Professional Staging | We send in a professional stager to meet with you to help you re-arrange your home to present it in the best light possible to potential buyers. Our results consistently support the Accredited Staging Professional association statistics revealing that 95% of professionally staged homes sell in 11 days or less and for 17% more. This can easily represent $5,000 to $10,000 more in profit.
6. Professional HD Photography | High quality pictures of your home makes for superior marketing, more leads, and ultimately more buyers coming to look at your home. 92% of homebuyers start their search online. By showing them impressive photos and increasing the number of eyeballs on your house by 10% or more, there is a 90% chance we will attract the highest paying buyer for your house.
7. Buzz Creation | Prior to going live in the MLS, we create a buzz about your home through professional copywriting, HD photos on social media, and direct mail pieces. Our intentions are to build a waiting list for your home, create market anticipation and urgency. This alone has been proven to reduce time on the market by as much as 50%.
8. MLS Launch | Once steps 1 through 7 are completed we make your house available to the masses using the impressive syndication power of the MLS. We exposing your house to 1,000’s of real estate agents who are potentially working with 2 to 5 buyers looking for a home like yours.
Our systematic approach allows you to sell your home to buyers based on the quality of your home and the diverse amenities, not just on price. This eight step approach has proven to get up to $25,000 more in additional profits from the sale of a home and reduce time on the market! Most real estate agents are unfortunately stuck in the dark ages and unknowingly cost their clients thousands of dollars in unmaterialized profit.
Here is what to do next if you’d like us to show you how to show your house for the maximum price and without wasting time or money. Click this link, fill out the brief form and follow the instructions.