The 3 P’s of Selling your house successfully

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If you are serious about selling your house, here are the 3 key factors, known as the 3 P’s, to take into account to ensure your house sells successfully. There is a difference between your house selling (eventually), and your house selling successfully. The difference usually means more money in your pocket.

The 3 P’s of successful house selling are:

1. Presentation

2. Promotion

3. Pricing

These factors work together. You cannot have one, or two of them, and expect a great outcome. All three together will make you a winner.

PRESENTATION starts with removing yourself emotionally away from your home. It is now a product – a house for sale – and it now needs to appeal to the most likely buyer. Most sellers know about decluttering but don’t really have an idea about the end result they wish to achieve. Do you clear the soul out of the house and make it look lifeless? Do you leave a few objects around to make it look lived in? When you hire a professional home stager, she will give a detailed list of recommendations to get your house sale ready. These could include some minor repairs, painting walls or replacement of cupboard door handles etc. Then comes the showcasing, to create  the WOW factor. Statistics gathered by Real Estate Associations show that  an investment of as little as 1% of your asking price can generate a return in  excess of 500%.  If your house was worth $300,000 and you invested $3000 in preparing to sell, the house will typically see a return of $18000. What other investment can bring you such a great return? Your house is your Asset = Value = Money, therefore as in any huge financial transaction, you want the best return. And the best part is, it is tailored to your budget and to the price point of your house. It is not exclusive interior design,  it is about making your house look liveable and loved and this can be done for a lot less than you imagine, and bring you a great return on your sale price and time on the market.

PROMOTION. According to the  2012 National Association of Realtors Profile of Buyers (USA) over (i) 95% view properties online first before they decide to drive by or view a property (ii) 84% of buyers reported the photos to be the most useful information (iii)  The number ONE action taken after viewing a home online was to drive by or visit the house.That is why your online photos is the first step to your sale. If they do not make an impression online, then buyers will move onto the next one. Make sure that you have open communication with your Real Estate agent to ensure that the promotion of your house is a key factor. You should make your house available for open inspections as often as is required especially when it first goes onto the market. This is when there is the most interest and the best time to get the top offer you’re looking for.

 

PRICE. Pricing correctly is crucial to the successful sale of your house. Try and familiarize yourself on how similar properties in your area are priced and make a realistic comparison to yours. Ask yourself “Which one would a buyer prefer? This property (the one you’re comparing with) priced at $….., or mine at $…..?” And be honest, otherwise your house may “sit” for months, unsold. And if there are higher priced houses you’re comparing with, then ask “How long have they been on the market and are they  just” sitting” because they are overpriced?” It is important to be realistic on the value of your house. If it is priced correctly the first time and it is well promoted and perfectly presented to appeal to the most likely buyer, you would have given your property every chance to succeed. Surveys show that the longer a house stays on the market, the further below it’s asking price, it drops.

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