Yes, it’s possible. I just want to get that out of the way first, because it’s true, and important. Jon and I have been Licensed Real Estate Brokers since 2005, and I learned this fact very early on: No matter the time of year, results of the presidential election, weather, location, inventory, or global pandemic – people still have a need to buy and sell homes. Now let’s get to the how of it, because that’s what really counts.
I mentioned we have been Realtors since 2005, and it felt like we had just started getting some momentum when the big crash hit in 2008. Remember that implosion? But guess what we learned – people still sold their houses (divorce, job loss), and people still moved, and bought new homes (more space for larger family, relocation for work). Sure, it may have been a smaller pool of buyers and sellers, but they were there. And they’re still here today. Yes, even during shelter-in-place, and even with unemployment numbers through the roof. Here are 5 things you can do to help your home sell in this market:
- LIST IT. Buyers are looking. Jon and I included! In fact, many homes on our “watch list” from pre-pandemic came off the MLS when restrictions were put in place, and that was a bad move. If people don’t know your home is for sale, they can’t buy it. There are more eyeballs on the internet now more than ever! Qualified buyers are making offers every day. Make sure your home is on the MLS and all of the real estate sites like Zillow, Redfin, Realtor.com, to be seen by the greatest pool of buyers.
- VIDEO, VIDEO, VIDEO. In the current climate, you won’t see as many showings as you normally would back when it was safe to touch cabinets and open closets and be present for in-person tours. But this will not stop buyers who are ready to make a move now. The more photos, videos and information you can provide them, the better. Have your Realtor do a virtual showing where they highlight all of the incredible features your home has to offer. The buyer will feel like they’re right there with them walking through the house, and if it feels like a fit, they’ll be able to jump on it and be that much more excited when they see it in person. Here’s a video example we did for our home.
- USE SOCIAL MEDIA TO YOUR ADVANTAGE. Social media usage is at an all-time high. What else do we have to do? And people across the world are using it to stay connected. Take this time to make social channels for your home, or leverage your own following to attract attention and build excitement for your listing. Start a Facebook Live tour where people can tune in and ask questions about the house. Use instagram stories to showcase vignettes that highlight all of the unique features. Don’t be afraid to ask your friends to comment and share – the more engagement each post gets, the more eyeballs you have on your property; the greater your chances are of having the one see it.
- PRICE. You might have read the long list of “even if’s” in the intro and see price didn’t make the cut. In our experience this statement has proved true no matter what: Your home will not sell if it is not priced competitively. Read that again. You can’t blame it on lack of updates, abstract paint colors, poor location; not even a global pandemic. Because it always, always, comes back to price. If you are too high, you aren’t being seen by qualified buyers who are ready to write a contract today. If you are too high, you’re seen as a seller who isn’t truly motivated to sell. If you’re too high, you’re helping all of your comps sell first, which will only hurt your sale price in the end. Research your comps, then take 10% off the top. The longer you sit on the market, the more money you are losing in the long run.
- BE READY. I know the challenges firsthand: Your kids have been cooped up inside for months, you’re trying to work from home, and homeschool, and make all the meals, and you don’t have the capacity to clean on top of it. But I’m also guessing your home is your biggest investment at the moment, and it needs love and attention, too. Head to Home Depot and grab some hanging baskets. Spruce up your front porch and make sure your curb appeal is on point. After all, we’re all doing neighborhood strolls for
exercisebreathing some life into our bodies, and stalking listings of course. Bonus points if you can tackle organizing closets, tossing junk you’ve had for too long, and deep cleaning some sad spaces that are desperate for it. All of this will make a massive difference when buyers see your property (whether virtually or in-person).
If you follow all five steps, we are confident you’re going to see new activity, and eventually an offer come through. We promise you – there’s a home for every buyer. And with inventory this low, there is no reason it shouldn’t be your home getting that offer.
How can we help? Have a question for the Pack regarding selling your home during quarantine? Leave us a note below!