Remember that home on Sequoia that went on market 9/18? It went under contract in < 48 hours with multiple offers over list price and closed in three weeks on 10/9. For sure it is still a Seller’s Market in Ann Arbor & Washtenaw County, but there was also a lot of work that went into selling the home. My mentor, Vance Shutes, calls it the 3 P’s – Preparation, Price & Presentation and each needs to be thoroughly addressed to ensure selling success.
With regards to preparation, the Sellers did a phenomenal job preparing the home for sale. They painted (yes, there were red walls), deep cleaned everything, tidied up the yard and made minor maintenance repairs. They also moved out of the home so instead of showing it empty, we decided to work with Impact Home Staging Experts, which helped beautifully stage the living & dining rooms, kitchen & bathrooms and master bedroom. Staging, when properly done, not only helps Buyers envision themselves in the home but statistics show that staged homes sell for 5% – 7% more than vacant houses.
For price, we completed a deep dive market analysis, not only looking at recent sold comps that best matched their property in terms of updates and character, but also price based on square footage within multiple mile radiuses as well as square footage based on state equalized value within the municipal assessor area. Together, we decided on a price that was at market value, ensuring the home would be competitive and open to the largest pool of buyers possible.
For the presentation piece, that is where my 20+ years of marketing experience comes into play. It is no longer acceptable to simply snap a couple of phone photos and list the home on the MLS. A true professional will work with a company such as Vis-Home to have professional photography, a floor plan and a Matterport 3-D virtual tour completed. In addition, the home had its own website, was promoted on multiple social media platforms and also had an Open House. ‘Just Listed’ postcards went out to over 750 homes in the surrounding neighborhoods and emails went out to other Realtors with Buyers looking for the same criteria that match the home.
Negotiating and working through purchase price, inspections, repairs, title work, appraisal, and mortgage acceptance, it can often feel like a marathon during the home sale process. You cannot get to that point, however, without a qualified Buyer. The best way to attract one is via the 3 P’s of selling success - solid Preparation, fair market Price & a stellar Presentation. A great Realtor will work with everyone involved to ensure nothing falls through the cracks, the home gets to the closing table and keys ultimately pass from Seller to Buyer.
