CAN AGGRESSIVE MARKETING SELL A HOME IN TWO WEEKS?

Well Ken...I'll say one thing...you have a positive attitude.  Of course all markets are probably slightly different, in my market, we have a limited number of buyers and virtually ALL of those buyers are controlled by "agents" that do the "picking" on what the see.  In other words, with 25 to 30 homes for a client, they want to pick 3 or 4 and most likely "in-house" listings to show.  That hardly fits my criteria for "Buyers Agency Representation"...sounds more like "Agent Agency Representation". 

So...how do I combat that?  I do a nice eFlyer and email it to Everyone on my email list of friends, acquaintances and past clients and I enter every listing in 27+- different websites.  I listed a $1,000K house and sold it in 9 days from a TN woman....listed a $250K house and sold it in 22 days to a couple from Houston and another $250K from a couple in another town in AR.  I can directly attribute 2 of the 3 to my website listings where the BUYER found the house and TOLD the agent they wanted to see it.  Seems to be a working plan so far.

As far as your method of selling first and then negotiating...right on!!

If the price is right, an aggressive strategy will work.

We use the same technique. We call our marketing aggressive marketing- real solutions for real estate. It may sound corny, but we are doing great!Good luck! Worse case scenario is that people see all of your hard work and want you to market for them too. I do not see any downside. It is all up from here!

Hi David and Lori.  Thanks for stopping by.

I have recently switched companies.  My last office told me to sell the offices internet marketing.  I never believed it.  At my new office I think outside the box.

Thanks again,

Ken

OK KEN if any agent can do it (besides me) you can...

I had one this last week that sold in 10 days at full price.. I priced it odd to attractattention and it got it .. the price was 248,342 ..the property had 15 showings and 7 offers with the highest and best being 255,100 ... I guess people perceived this as some type of rock bottom discounted listing.give it a try

Also is the home in a rural area. If so talk to your mortgage pro on the USDA loans. They will do 100% and backed by the goverment. Great marking tool. Again call my cell if you would like and I can assist you on finding out more. I only do MA but can refer you to someone in your area. Thanks ed 774-573-0329

Sounds good Ken.  Show by appointment?  That's kiss of death here - put a lockbox on - don't make anyone jump any hoops to see the house.  If the house is priced right, is in good condition and you broadcast it why wouldn't it sell?  And I agree, strengthen your position by making an offer without contingencies.  Good luck.  Let us know how it goes.

I think that all our listings should be marketed aggressively, but wonder if they are. If the price is right, you shouldn't have any problems getting the house sold quickly.

I like your post.  You should do a little research on your MLS stats.

Get a report of sold listings in the last month.

There should be style of report that covers these areas.

Percentage of homes sold in 0-30, 31-60, 61-90-91-120, then120+ days on market

It should also list list price versus sale price ratios for each time frame.

In my market, homes that sell in under 30 days sell for 100.8% of asking price.  At 120 DOM they sell for 93.6% of asking price.  So even with a price reduction, (normally 5%), you'd still be ahead to price it right when it first hits the market.

The rule of thumb is 10-12 showings or one offer in the first 30 days.  In most cases with proper marketing and preparation (cleaning, painting, de-cluttering, de-personalizing, staging, professional photography) and the right price, you should be able to obtain multiple offers by pricing it slighly BELOW market.

I am finding that if you price it right it can sell quickly.

I am finding that if you price it right it can sell quickly.

Hi Patrick, Keith, Colleen, Alyce, Edward, and Eric.  Thanks for stopping by.

I think we should be right in the sweet spot.  I haven't even got the listing yet.

Either way, this strategy is repeatable.

Ken

To follow up, I would pose this question to your sellers

"Would it be a problem if I sell your home in 30 days?"

If they ask "No problem, but how are you going to do that?"

The answer is "Let's sit down and I'll show you how we can do it"

Part of the listing consultation is if they can get their property in prime showing condition so it's in the top 20% of homes like theirs, then you explain that 20% of the listings sold sell within the first 30 days.  80% sit and lose value.  Where would you like to be?

Ken- I love you attitude, My friend, I know you will do it and get two sales out of it! I look forward to reading about it! Rest up enjoy the rest of your weekend you are going to be very busy!!!

I actually would price it at $250,000; I don't do the XXX,900 anymore when I'm close a $25,000 bracket.  Here's my thought...at $250,000 people who search the internet for homes (and NAR says 84% in 2008 will do this) will find it if they are searching $225,000 to $250,000 AND $250,000 to $275,000.  Double the coverage for $100 difference in price.  I think it's one of those things we have just gotten used to doing, pricing it at the XXX,900 and with internet shopping picking up, I think we should change.

Price...in this instance of the quick sale would appear to be the factor for a quick move.

Ken, not familiar with your area. We had this come up last week and one of my Buyer agents called and wanted to know if she should write an offer on a home contingent on the sale of their home. I told her to call the listing agent and see how she felt about it and if she would advise her clients to accept that. We knew if they did, it would come back with a 72 hour clause. 

She said fine and the offer is accepted. 

However, you really never can guarantee the buyers will get this home. So they have to be prepared, I tell them don't start packing or buying anything for the new home. 

Ken, I think that the marketing plan is a good one and the expectation is on target just one minor correction tho, you said:

I expect an offer at or above the asking price.

Worst case.  I do a heck of a lot of marketing.

Best case.  I sell a home.

Under Best case.  I sell a home and do a heck of a lot of marketing! What a great plan!!

Hi Don, Missy, Larry, Cindy, Barbara, and Keith.  Thanks for stopping by.

I just got back from the appointment. 

For my customers comfort, we decided to make a contingent offer today and see how the seller reacts.  If it is a problem, we can list and sell the home quickly.

I look forward to keep you all posted.

Thanks again!

Ken

Ken

Just curious, did you discuss your offer with the L/A beforehard?

Selling your client's home first will put them in a stronger position as a seller.  Being a "have to" seller weakens their bargaining position.  I would advise against "seller is motivated, has found another home" in the marketing remarks. 

Good luck.

Hi Keith.  Thanks for stopping by.

I didn't ask the listing agent.  I figured since it made my clients most comfortable, we should make the offer and see how they respond.

Ken

Ken

One of the things that separates one agent from another is how the work with other agents.  When I am going to write an offer I call the agent and ask:

-When would the sellers like to move? (vacate their home)

-How long of an escrow would they like? (are they in a hurry)

-Do they have a preferred title company? I try to find one that we both like

-What are the seller's  biggest concern in looking at offers?

-I ask if I can present my offer in person.  My offer package includes:

copy of the deposit check (with acc't number removed)

Proof of downpayment

Handwritten (preferred) letter from buyers stating why they love the home

Pre-qualification letter from lender referencing the property address

Picture of the buyers' family

Cover letter from me re-capping the offer.  If below asking price, then a brief CMA to justify the price, perhaps also a recent newspaper or online article about the current market. 'My buyers are concerned about purchasing a home and shortly thereafter owning more than the home is worth".

I bring a set for each seller and the L/A.

So to put this together i already know a lot about the seller's situation and can tailor my letter and offer to meet their needs. 

Good luck

Keith, let us know how that offer goes with the contingency. Here people are very shakey about taking contingent offers ~Rita

Hi Keith and Rita.  Thanks for stopping by.

Wow Keith.  Lots of work.  Good for you.

Hi Rita, I don't like contingencies either!

Ken

KEN - Pricing it right and marketing it heavily increase your odds of selling quickly, but if you want to guarantee the sale, you may have to use an auction method, which creates a sense of urgency that buyers in today's market might not otherwise have.

Hi Adam.  I thought of that.  I love brainstorming.  I never did at my old office.  Now I am being more creative.

Thanks for reading,

Ken

Hi Ken,

Well, it appears that you are competitive enough for the price point but how well is the home staged?  Your price appears to be strong enough to get the buyers in but just make sure the house is staged properly so the buyers fall in love with the house.  Good luck to you and keep us all posted!!

Stacy

www.topgeorgiahomes.com

In the 5 minute Listing Presentation at last years' family reunion, they said "price, price, price."  In todays market, that is what sells houses.  In our market, we have 14 months of inventory - lots of competition - price is the bottom line.

Hi Leslie and Stacy.

Thanks for stopping by.

Staged?  Not really.  I know what they need to do.

I feel the home is ready for sale.  I will keep you posted!

Ken

Ken - I know you can do it!  Anyone who puts forth intention as powerful as yours and backs it with action will produce results!  Got for it and be sure to tell us when the home sells!

Have fun with this, just your focus alone can make a big differnce.  I think if the market says 250K you should be a bit under that unless you are in a strong seller's market, and I right now I doubt that.  Your intention will go a long way and even if it does not sell the house right away, you will meet lots of other leads..

Hi Anna and Kathleen.  Thanks for stopping by.

Our contingent offer was rejected.  Waiting for the word from the would be sellers, and I am ready to go.

Thanks again for reading,

Ken

Well best of luck to you and let us know what happens!  I like your positive attitude as that is half the battle!  Good luck with the By Appt Only as here that is no where near as common.

Add a home stager into the mix.  You would be surprised of how much of a difference we can make even just using the homeowners things...