Rehabbing a home is only a part of the process investors take on in their daily schedules. While important, it is irrelevant if the home can’t sell. That said, creating an amazing home buying experience is just as important as the work you put into the actual property.
Opportunities aren’t fully realized until the property is sold, and the money is in the bank. You can find cheap property deals and complete amazing rehabs, but that won’t help maximize your ROI unless the property sells. Too many think the selling process is easy and will take care of itself. Some even get attached to the property and figure it will sell in a few days. Unfortunately, that isn’t the case. Selling a property takes a lot of planning and hard work. If you need help selling your property, refer to the following:
1. Advertising and branding synergy: A great home buying experience begins with setting the right tone, the right expectations, and making buyers feel great about their choice from the moment they see the front of the house. Your real estate marketing and branding should give buyers confidence, make them feel good about exploring more, and make them feel that working with you is a great fit for them.
2. Streamlining the home search process: Whether you are a real estate agent or an investor, it’s likely that you can connect buyers with multiple property options. One of the biggest blunders that real estate pros make is showing buyers properties that aren’t a good fit. Time is their most precious asset. Nobody wants to spend time looking at homes that specifically don’t meet their criteria. It wastes your time and destroys connections immediately. Get better at streamlining the process of finding the best properties to view. It’s not hard to ask what buyers want. They should be eager to share their property needs and goals. You shouldn’t be taking time to work with prospects unless they can clarify what it is they want. Some of this can be done online. If you don’t have the online tools, it can be done manually. Don’t just stop with bedroom and bathroom counts, or square footage and price range. Today people want to be able to shortlist property options to view by school districts, communities, views, amenities, and more personal options. Facilitate whatever you can.
3. The showing experience: The showing experience is critical. It is make or break when it comes to actually making sales, maximizing your time, and optimizing ROI. Today, some real estate sellers can get away with sending buyers out on their own with keyless locks and self-guided viewings. Others may find their clientele really need white glove, celebrity service. Know your buyers and your market. If you are attracting a dozen over asking price offers in a day just by sticking a sign in the yard, selling might be easy. However, you still need to focus on experience in order to maximize the experience for them, and to gain referrals and good reviews. Your experience may start by air, water, or tour by luxury shuttle or limo. For most, it starts in the car. While there are definitely safety precautions to be taken, and most realtors don’t want to drive clients in their own vehicles, it can be advantageous to control the whole experience.
4. Setting up the viewing experience: EVERYTHING matters when it comes to the viewing experience. Smells, sights, texture, and information. We’ve all heard about home staging, baking cookies, and the right ways to allow homebuyers to navigate a property. If you want that property to sell, it’s important to stand out any way you can. How about interactive experiences that give prospects more data.
5. Be ready to write the offer: Anticipate taking closings to the next level immediately. Have the contracts and contact information to make an immediate offer or to write the deal. Just as importantly; make sure you have the right setting to talk over the offer. The property may not be the right place. There could be other buyers or agents coming, or the seller may be coming home. So will it be convenient to take buyers back to your office, or will that be awkward and intimidating? Will a coffee shop be convenient, or a nightmare?
6. Anchor the experience and follow up: Getting a contract signed shouldn’t be the end of your efforts, or a dull moment. Anchor the culmination of the home search by celebrating, or at least sending them out to celebrate. Then make sure to follow up right away to squash any potential for buyer’s remorse.
7. Make closing day amazing: If there will be a physical closing, make sure you’ll be there. Buying a home, or even an investment property is a monumental occasion. It’s a life changer. Make sure it feels that way. Think closing gifts, sponsoring house warming parties, or simply providing diner and some conveniences for families moving into new homes.