How We Sell Your Home

Make sure that the broker that sells your property is familiar with ALL the sales tactics discussed in this article. If you select a broker that does not make use of all these marketing strategies then your property will be on the market for longer than it needs to be, and sell for less than the maximum achievable price.

The LVRE.com approach is driven by the new realities of today’s real estate market: buyers are 18 times more likely to find their home on the internet than in a newspaper, and 36 times more likely to find their home on the internet than in a home book or real estate magazine. Buyers have changed, and we have responded to this.

Throughout a sale we maintain a high level of communication with our sellers. They receive regular reports on the marketing activity undertaken, and updates on any changes in real estate market conditions.

In this article we look at the three factors that we consider critical to getting a property sold quickly at a high price:

  1. Everything we do to sell your property is based on a clear understanding of what buyers want
  2. We are experts in leveraging online marketing to supplement traditional real estate sales tactics
  3. We communicate clearly and frequently with sellers throughout the process

STEP ONE: WE KNOW WHAT YOUR BUYERS WANT

A New Breed of Buyer
9 out of 10 buyers use the internet in their home search, and amongst first time home buyers it is almost 100%. So you need an agent that knows how reach these buyers. This is even more important in Las Vegas than some other cities, since with more than 50% of Las Vegas properties being bought all cash there are many out of state buyers that use the internet as their only way to find a property.

The first step buyers used to make when they were buying real estate was to call an agent, today almost all home searches start on the internet. Furthermore, the average distance people move has increased from 50 miles to 250 miles. What you need in the current environment is an agent who is familiar with how to use the internet to promote real estate:

  •  The best way to see if you agent knows how to use the Internet is to check their web site. If your agent is using a personally branded web site then they are not attracting as many buyers as they could be since potential buyers are less likely to leave their contact details on a personal site as they worry about being harassed by a sales hungry agent.
  • The best sites make it easy to search for real estate and save searches. They also provide useful information on the buying process. You will see that the front page of lvre.com has a link at the top right of the page for Advanced Search, it also has a Quick Search box on the front page, AND it has an accordion style search on the right hand side of the page. There are also clear links to resources and information. Buyers love our direct and hassle free site, and attracting a pool of serious buyers makes us ideal listing agents.
  • Check the mobile search features. 25% of buyers access the internet search using their smart phones, so make sure that your agent has their web site optimized for mobile search. Every page of lvre.com has a special code in the header so when visitors go to these pages in a mobile browser, they will be automatically prompted to switch to the mobile version.
  • Syndication is important so ask your agent what the top real estate web sites are, and ask how they reach them. There are ways to ensure that your property is featured more prominently on these web sites. Which of the sites below is your agent familiar with, and how to they use them?

What Buyers Want
We deliver what buyers want. The most commonly requested features that buyers demand are below, and we deliver all of them on every one of our listings.

Buyers Want a Responsive Listing Agent
Potential buyers don’t want to waste their time playing phone tag. Make sure the ads your agent places for your home are attached to a 24 hour prerecorded hotline with a specific ID# for your home which gives buyers access to detailed information about your property day or night 7 days a week without having to talk to anyone. It’s been proven that 3 times as many buyers call for information on your home under this system. If your agent does not this system then you lose potential buyers. You want to have as many buyers putting offers on your property as possible.

Buyers Want Useful Market Research
The best agents provide potential buyers with useful analysis of the market conditions. 74% of buyers consider regular updates on recent market activity to be valuable, but only 16% of agents provide this information. Everything we do is driven by research, so rest assured that we provide buyers with all the data on Las Vegas home values that they need to make a bid on your property.

STEP TWO: WE LEVERAGE ONLINE MARKETING

Syndication
Syndicating to the major real estate web sites is critical, but it goes one layer deeper. Every one of these sites has special techniques to push listings to the top of the rankings. Some involve paying, but for others it is the way your content is presented. We know all of these techniques inside out.

Video
Less than 1% of properties sold have a video made to promote them. 50% of Americans watch a YouTube video during a typical month. We recognize the importance of a good quality video and we create a unique video for every property and syndicate it to all the major web sites.

Social Media
A lot of people talk a good game, but do they really understand the game? Every real estate agent knows that Facebook and Twitter are important, but most have no idea how to actually make these tools work for them. Don’t use a broker that has jumped on the social media bandwagon without understanding how to use it.

Make sure you agent is active on the three main channels: Twitter, Facebook and YouTube. Ask them if they are familiar with Search Engine Optimization (SEO), and if the answer is not convincing then move on. At LVRE.com we are confident that we know the best way to use these channels. Agents who believe it is to do with the number of followers/fans and posting listings are misguided. It is about delivering useful information to create engagement and build relationships so that people will be receptive to information about listings. Our social media activities are informed by an understanding of what motivates users to participate.

STEP THREE: WE WORK AS YOUR PARTNER

Expert Advice
We will give you sensible and honest advice to help sell your home and work as your partner throughout the process. Items we will work on together include:

 

  • Setting a realistic sales price. Sellers want to get the maximum achievable price, but sometimes greed drives them to list at above market value. This is counter-productive as it reduces the number of potential buyers that will visit the property, and is likely to increase the time it is on the market. This bad situation then gets worse as potential  buyers see how long the home has been on the market and become suspicious. You need to make the most of the marketing lift that comes with having a hot new property, and to do that you want to have it priced at market value. We will provide you with a detailed analysis of Las Vegas home values to support the final pricing decision.
  • Negotiate based on Seller Motivations. Different sellers have different motivations. Are you looking to sell quickly, or can you afford to sit on the property until it secures the highest achievable price? When you are work with us to determine the list price, we will consider your motivations.
  • Negotiate based on Buyer Motivations. If your buyer has to move quickly you can leverage this by pushing back on some of his demands. On the other hand if this is a cash buyer with offers on multiple properties you have to negotiate in the understanding that the buyer is likely to be less flexible on deal terms. Making sure we know your buyer helps us control the pace of the negotiation process and its outcome.
  • Seller disclosures. Disclose all known defects in writing. There is no point trying to get something past a buyer because the future lawsuit will be far more damaging than the extra dollars gained at the sale.
  • Prepare the Home for Sale. You don’t have to spend thousands on staging your home, you just have to put in the hours to ensure it is sparkling clean. As well as thoroughly scrubbing and polishing every surface you should make sure everything is tidy and uncluttered. That can be difficult when you have lived somewhere for a long time and accumulated a lot of things, but since you are moving anyway it is time to get as much as possible boxed up and stored tidily in the garage.  Some fresh flowers and some furnishing touches are fine, but the basic rule is to make the home as uncluttered as possible. If you have pets, or are a smoker then you need to do everything possible to kill all the odors in the house. When buyers come across a property that smells bad they investigate everything else with a far more critical eye.
  • Hosting an Open House. Only 1% of homes sell from open houses, but rest assured that we will have one for your property because it is a great way for us to meet potential buyers even if they don’t want to buy your home.  The person who buys your home is more likely to be someone we met at another open house than the one that we hold for your home, but the most important thing is that you know that we use this technique to meet potential buyers.

High Levels of Communication
Most listing agents spend 80% of their time trying to secure new listings and 20% of their time working the listings that they have. We are the exact opposite, and prioritize servicing our clients. We do this because we want you to be a client for life. We are a company that you would recommend to your friends and family without hesitation. We don’t approach the sale of your property as a one-time transaction. 30% of people that use a real estate agent would not use them again. Our goal is to ensure that 100% of our clients use us again and again, and to do that we ensure that we have outstanding levels of communication. Once your property is listed with LVRE.com:

  • We use an electronic lockbox to track the showings  of your property, and regularly update you on the level of activity
  • We contact every agent that visits the property to find out what their clients thought, and feed it back into how we present the property. We send you a summary of this feedback

In addition to communicating with you, we keep in regular contact with other agents:

  • Once we receive an offer we inform all the agents that have shown the property. This increases the chances of multiple bids on the property
  • If there is a change in the listing conditions, such as the price, this is automatically sent to all the agents that showed your property

Conclusion

Thank you for reading this article. I hope it gave you an insight into how we go about selling your home, and our emphasis on three key areas:

  1. Everything we do to sell your property is based on a clear understanding of what buyers want
  2. We are experts in leveraging online marketing to supplement traditional real estate sales tactics
  3. We communicate clearly and frequently with sellers throughout the process

There are dozens of other sales tactics we use to get your property sold. Please contact us if you would like to discuss the process in more detail.