The First Two Weeks
This is the most important time on the market, (the first impression): Studies show that up to 40% of the activity on your property may occur during this time. In reality, the only thing that impacts most good agents to show your property is how the price of your property compares to other properties.
If priced right, you'll receive multiple showings from the first day on the market through the end of the first month.
If priced too high, one of two things will happen.
Your property will be ignored by the realtors and their buyers, or
It will have a few showings or many showings, but no offer; realtors are either using your property to sell other properties, or the buyers are making the decision that your property is not worth the asking price.
What is TheTeam doing during the first two weeks of the listing? We will:
Place your property for sale in the Multiple Listing Service® and on the internet so that you receive the benefit of an estimated 550 agents previewing the information on your property's price and features.
Circulate a ‘hot sheet' with your property information to all agents in our office.
Place a sign with a name rider, and install a lock box. We preview and take pictures of your property for the internet, virtual tours and colour feature sheets.
We review who are the most likely buyers for your property and target the advertising at these buyers who will pay the most money for your property. In addition to the internet and MLS® we design and place ads in print media.
Contact our potential buyer base and our "wants and needs" network describing the features and benefits of your property.
Schedule a virtual open house for the agents in our office.
Schedule an open house for all agent members of the Multiple Listing Service®.
Weeks 2 – 6
At this stage, based on feedback from showings – we will know if the price is right. We will keep you informed of all feedback.
We follow-up on all showings (we should have had at least four showings, if the property is priced right).
Enthusiastic feature sheet of your property's features and benefits placed in the property.
Continuous contact with our buyer base, and "wants and needs" network.
Continue to place exciting and enthusiastic ads promoting the features and benefits of your property in print media.
Promote directly on our web site. It has been estimated that 80% of all buyers look on the internet before they call an agent.
This is a critical time, you'll probably notice a drop-off in showings in spite of the massive marketing that's being done. We will update the comparative market analysis (CMA) for your property examining recent sales in your neighbourhood (or lack of them) and show what your competition is doing price-wise. We will also reevaluate the current market conditions. Remember, to compete, we have to be better than them. If we've received no offer yet, it would appear the market is saying "no" to our price. A price adjustment is usually the wisest thing to do now if you want to sell and get the highest price possible. Buyers, at this stage, always ask, "How long has it been on the market?" Buyers are very sensitive to price and time.
It's also time to review our "Sale-Ability Check List". One of the major reasons you hired us, was because we told you the truth. And, the truth will get your property sold!
Here's the truth: There are other properties on the market competing for the same buyer you are. It is vital that given the current market conditions we find a balance between condition, location, features, and benefits and the price of your property.
If the price is too high, agents and their buyers will either:
- Ignore the listing, or
- They will show it in order to sell other properties. i.e. Jim and Martha, if you like this one at $285,000.00, wait until I show you the one for $270,000.00.
We are continuing to aggressively market your property. The good news is, with timely adjustments and continued marketing; we can get the property sold!
Unless there are some highly mitigating circumstances (e.g. a custom, one of a kind house, an upscale property that takes longer to sell, a tenant occupied property with an uncooperative tenant, problems with clutter, odours or condition) we should have an offer to purchase the property.
If not, even with the above circumstances, a price adjustment will help.
NOTE: Again, the good news is, you have got real estate's premier team working for you! We are optimistic, aggressive marketers, and honest. We have taken the time and expense to formulate a total package to help you the seller, accomplish your goal; to get your property sold in the shortest period of time and for the most money!