Most sellers are interested in receiving the highest possible price for their home, and why wouldn’t they be?
In order to attract a buyer who is willing to pay the highest price, and perhaps even compete to successfully win your home, a strategy and a marketing plan will have to be carefully planned.
Part 1: Evaluate the Home
The background to this story:
This home was built in the 1920s, but it had had some updates and expansions. The most recent update was in the 1980s, and although it helped with modernizing the home, the detail elements looked dated. The layout and flow to the house were good, and a master bathroom was a benefit. The location of the home was good too, but not ideal for children because of the school district. And finally, the house was move-in ready, but there were a few issues that had to be addressed, and would require about $20,000 of remediation work, and six to eight weeks of time. The sellers were were aware of these issues, and they were fully disclosed to all potential buyers.
Our evaluation of who would purchase: knowing the limitations of the home, we knew that we would likely attract a move-down buyer with grown children, a young first-time buyer with no children, or perhaps a small family with a pre-school child. We also knew that the buyer would be someone who understood that the remediation work would need to be factored into their timeline and budget.
Next time find out about how we made the home more attractive to potential buyers!