Winning the Real Estate Superbowl
Every Game Has A Strategy
In tic tac toe, experience teaches you not to go to the center square for your initial move. Experts will tell you that the worst first move in chess is f-3, because it leaves your king vulnerable right off the bat. In 1940, before the era of the Super Bowl, there was a national championship football game between the Washington Redskins and the Chicago Bears. The final score was a total blowout, 73-0, and that win was attributed to one single strategic change, namely the T formation, which left defenders guessing who would have the ball after the snap. No matter what the game, a careful, planned strategy is imperative to success.
The Real Estate Game Is No Different
When selling your home, it is important not to sabotage your chances for success at the onset. Very few people enter into the arena of selling a home with a cavalier attitude. Rarely do you hear, “Oh, if it sells, fine, if not, that’s okay too.” Whether you have a growing family and are ready to upgrade or you are settling an estate, fast and easy is always preferable to slow and agonizing.
Some of the more obvious approaches to the quick and painless sale are fundamental. Completing repairs, staging, accurate analysis for pricing and advertising blitzes are all among the standard operating procedures. No brainers. But is there another trick to this selling game? Has technology and pop culture redefined home marketing at all? If so, by all means, let’s use every trick in the book! Leave no stone unturned. There is a new wrinkle- a fresh ingredient you can add to this mix that can boost your success rate.
Days on the Market
Research indicates that the number behind the “Days on the Market” spot in the MLS can be a deal breaker for many buyers. Homes that give the impression of being stagnant, not new listings, slow movers, not hot off the press (choose your term) are huge turnoffs for prospective buyers. Given a choice between equivalent houses, one on the market for 19 days and the other 35, the 19-day house always has greater appeal. It is no different than lining up at the door at 5 a.m. on Black Friday as opposed to waiting till Saturday afternoon to shop. It is all about perception. Everyone assumes the best deals are gone. The merchandise is picked over. As a seller, the best way to buy into this psychological bias is to delay listing on the MLS as long as is legally possible.
Different jurisdictions have varying regulations regarding when the broker is required to add your listing to the MLS, so you are constrained within those individual guidelines. “BUT”, you may ask, “how will I reach potential buyers? How is anyone going to know about my listing?” I’m so glad you asked. The reality is that progressive brokers have already laid the groundwork for you. They have started selling your house before you even thought about listing it by establishing a social media following.
This new approach delays the MLS reveal and blasts your listing on platforms like Facebook and YouTube first. There are several benefits to this technique. First and foremost, it delays the ticking time bomb of “days on the market”. Preventing the stigma of the unsellable listing, and the nagging doubt of “what’s wrong with that house” is vital to selling success. Once your home has that brand on it, reversal proves difficult. Secondly, the social media blitz goes to a targeted audience.
Let’s Face It
Nobody is following realtors on Facebook, YouTube and Twitter unless they are 1.) someone looking to buy or 2.) an agent trolling and stalking other agents to get a scoop, or keeping up with their competition. It’s a great way for realtors to get the skinny on a hot listing before it goes public. Think “insider trading” without any criminal or legal repercussions. If the agent can deliver a great home to their client before it even hits the MLS, everyone scores. And buyers love a good sneak peek, especially when they are bleary eyed from reading stale MLS offerings for weeks without finding a perfect fit.
Is that it provides you with two opportunities to reveal your listing. The preview on social media, and then the “New Listing” popping up days later on the MLS system. Twice the splash for your money. Double the bang for your buck. There is really not a down side to this strategy. Players in the real estate game know where to snoop around for these pre-MLS gems, and believe me, they are snooping. If an agent is on their game, they scout social media as well as the MLS for their clients looking to buy. If your realtor isn’t, maybe you need a new realtor. Times change, technology advances and dynamic popular culture is constantly morphing. It is essential that we improve our strategies accordingly to attain success.
Rely On A Expert
Today’s highly competitive market demands that your realtor use every trick in the book. Whether you are buying or selling, your agent must be a skilled player with a winning strategy.
Cities Real Estate Broker David Pannell has been helping families with their real estate needs for over fifteen years. Specializing in Tarrant county’s most desirable neighborhoods, David is a former United States Marine and City of Arlington police officer. He is a realtor you can trust to help you find your treasure in Timarron or help you sell your home as you begin the next chapter in life. Contact David today at (817) 797-9047.