October 13, 2016 | sellers
Even if you do not have the fast twitch muscles in your thighs like Usain Bolt, most of us have heard the term “peak performance”. Peak performance usually follows a quick rise of an athlete and what they do best, followed by a sustained period on the top before a slow decline. The term “peak performance” can also apply to real estate, particularly when you are talking about listing your home and receiving top dollar. So, that leads us to the question: How do sellers reach peak performance?
Like an athlete, so much of the road to peak performance starts in the preparation. This can take up a good chunk of your time. It requires a committed investment that could lead to a much better outcome when you sell you house. So, you need to have a customized plan on how to prepare your property for sale with all the fix-ups, the painting, and of course the de-cluttering and the staging. If you don’t invest time here in the preparation, it may compromise your peak performance.
With that said, you need to be as transparent as possible. If you know something is wrong with your house, disclose it to any potential buyers. Don’t try to cover things up. Although some sellers may think this would put them at a disadvantage, telling a potential buyer the truth about your property will reduce their anxieties about your home and will keep you out of any legal trouble. If a buyer feels you are transparent, they will feel more comfortable in your property and potentially making an offer knowing what needs to be fixed.
Once the property has been listed, it all comes down to the marketing. Not all marketing will be the same for all properties.
You need to know who your target buyers are and target them.
Do you have in income property with strong rents? Do you live in a desirable neighbourhood? Do you have the only detached house on the street? Do you have one of the few unobstructed views of the lake? Know your strong points, and market them like crazy.
Don’t underestimate the power of photos and video. That is the thing that will get people to notice your home. Well staged homes followed by professional photography will give you the advantage.
Once you have listed and are ready to peak, make sure you have the right strategy in place. Just keep in mind that overpricing a listing will often help sell other listings. If you are on the market too long, your peak performance could pass by quickly.
Even after a week, in some markets, your listing can feel stale if it has not sold.
As much as we all dream about it, we are not going to become all star athletes, but many of us will have some moment when we sell property. So, do it right and bring out your inner Usain Bolt and get your house in shape for the performance of its life. Sell it at peak price!