Have you ever driven by a house that has had a “For Sale” sign for years? It is not uncommon to find them while driving around the city and suburbs.
On the other hand, some houses only have the sign for a few weeks, or even days. Does it all depend on demand for houses? The answer to that question is a maybe.
Many times, the successful sale of a home is dependent on the real estate agent and how efficient they are at their job. In this article, we are going to provide 4 realtor tips to follow to sell a property fast, but let’s start by understanding why real estate agents fail.
Why Do Real Estate Agents Fail?
With so many realtors in the market, not all of them can be the best in the field. There are a number of real estate agents that do not follow the best practices and realtor tips to sell a home successfully. In fact, most real estate agents fail within their first year of practice.
The following graphic contains a list of 6 reasons why real estate agents fail.
1. Give the Property a Makeover!
One of the real estate agent’s priorities should be to give the property a makeover.
Think about it. Who wants to buy a home that looks rundown? Only house flippers or a buyer that wants to knock down the property would be interested. Your list of possible buyers is reduced significantly.
Nevertheless, you should always keep in mind the added costs of making repairs. Therefore, only fix things that absolutely need fixing and would add value to the possible buyers.
For instance, if there are issues such as termites, mold, or a roof that’s about to fall… fix them immediately! To find out what needs to be repaired, conduct a pre-inspection on the property and decide what needs repair as soon as possible.
In addition to repairs, as a real estate agent, you are responsible for hiring someone to stage the house for buyers.
When a prospect walks into a house, they want to imagine what it would be like living there. Therefore, it is essential to stage the house with furniture, decorations, and other items that make it seem like someone lives there.
Don’t forget to clean and declutter as well, but do NOT store all items in closets and pantries. Many buyers said that ample storage was extremely important or very important. You don’t want to deter a possible buyer from buying the property simply because the storage looked cluttered and gave the illusion it’s small.
Many realtors rent storage rooms and use staging companies that can provide furniture and/or decorations to stage the house.
2. Get the Price Right!
Homeowners do not want to leave any money on the table. As their real estate agent, you might think that the higher the price they set, the higher your commission is. This is not necessarily true.
Make sure to research comparable home values in the neighborhood and surrounding areas, and will probably have an estimate of how much the house you’re selling is worth.
An overpriced home usually stays in the market for a lot longer. Furthermore, if the price is lowered, prospective buyers might think there is something wrong with it and deter from even looking at it.
3. Adapt to the Digital World
The COVID-19 pandemic accelerated the upwards trend of companies adapting their business model to one that involves digital exposure and sales. Real estate companies are no exception to this.
There are a number of things you can do as a real estate agent to improve the house’s online presence. For instance, you can hire professional photographers to take candid pictures of the property and upload them to multiple social media platforms or listing web pages.
On top of professional pictures, 3D tours are becoming an essential part of the home buying experience. A 3D tour allows potential buyers to get the online experience to match as close as possible the in-person experience. This gives them a better idea on the dimensions, direction, and the overall floor plan of the house.
Not only do potential buyers get the home buying experience from the comfort of their homes through digital adaptation, but real estate and escrow companies can mitigate health risks that might be present at the moment. An example of health risks include the COVID-19 pandemic, among other diseases that can be transmitted through close contact.
Through New Venture Escrow services, you get the right to use our centralized platform, Venture Trac 4.0. With this app, every party involved during the home selling process has access to all documents and contact information of other parties.
This diminishes the amount of in-person contact with people and provides the benefit of transparency. With a simple tap, party members can access answers to their questions. Not only does it reduce the risk of dishonest transactions, but it also expedites the whole process.
4. Form the Right Partnerships
An ESSENTIAL for real estate agents is to find a professional partnership with mutual value-added. Having the right partnership will help you get more exposure, and more clients in the long-term.
Partnering with an escrow company can be beneficial if the escrow company provides you with value. At New Venture Escrow, we provide a partnership that goes beyond selling.
As an NVE partner, we grant you access to digital tools such as the VentureTrac 4.0 app and marketing initiatives that provide you with more exposure to potential clients. Additionally, more clients are going to see the value of hiring you as their real estate agent if you already have an escrow company in your pocket.
Here at New Venture Escrow, we value our partnerships and strive for mutual growth.
Want Additional Tips to Help You Sell Fast?
With a partner like a New Venture Escrow, you will also get access to the best information on recent trends to keep yourself updated with what’s going on. We also provide tips and best general practices in the real estate market to help you succeed!
Visit our website for more information and contact us if you are interested in a beneficial partnership.