Susan is calling again.
You know Susan—the seller who thought she’d have way more offers by now. The one who listed above market value three weeks ago and is wondering why no one has made a bid. Or the one who hired her friend’s brother, a newbie agent who does real estate as a side hustle.
Listen, if I had $1 for every time I’ve gotten a phone call from a Susan seller, I’d have made about $10 in the past two weeks. But seriously, that’s a lot of phone calls from people who didn’t realize selling became more challenging over the summer.
As agents, we know the market today is much different than it was a few months ago. We need to be prepared to share that information with people ready to list their homes for sale.
So, to help you walk any homeowner through the process, here’s how you can help sellers in an adjusting market.
Market the Property to attract Multiple Offers
In the last real estate market, anybody could stick a sign in the yard and get a house sold. After 20 offers, it was only a question of how much a seller would make over the asking price.
That’s not happening anymore.
But, some houses are still seeing multiple offers. So, what makes those homes stand out?
Guidance from a professional who knows how to market and stage a home. Educate your seller about what is happening in the market and walk them through these steps:
- Declutter. That means no more leaving the dog’s pee-pee mat on the ground.
- Stage the house. In some markets, moving out and having the home painted and staged may be worth the cost. This also makes it easier to show.
- Get professional photos. Hire the top photographer for the job, and ensure your seller knows exactly what they should do to get the home ready for listing photos.
- Remain flexible for showings. Sellers can’t limit showings to a one-hour time block and expect multiple offers. Make sure they are flexible so more buyers can come see the property.
Market Your Skills as a Professional
Sellers need a professional now more than ever. Showcase your experience as a real estate agent and elaborate on the skills that make your service stand out.
- Marketing. How do you ensure properties get noticed by potential buyers? Lay out everything you do to market a property and explain how this helps sellers in your listing presentations.
- Negotiating. Realtors didn’t need to do much negotiating in the last market. Most don’t know what to do if a house doesn’t go under contract in 24 hours. Elevate your negotiating skills to a level where you feel comfortable having difficult conversations—whether you are talking to another agent or the seller. And be sure to let potential clients know you are capable of taking a stand and making the deal happen.
- Communication. There will be more back-and-forth between all parties involved in a transaction. Your communication must be 100%, so you don’t let anything fall through the cracks.
There are a lot of moving parts in an adjusting market. There’s a reason they say 20% of the realtors do 80% of the business. Show consumers you are in that top tier with the experience and skills to get the job done.