At some point, every homeowner will likely sell their home. With today’s housing prices, selling can be an attractive way to cash in on home equity. However, buying a new home will also come at a higher price. By thinking like a marketer, you can increase your chances of selling at a higher price and maximizing your returns.
Real Estate Agents do not think like marketers
A real estate agent’s goal is to sell homes efficiently. Their earnings are based on commission, so getting you an extra €10,000 may not be worth the extra effort for them. If an agent charges a 1.35% commission, that increase would only bring them an extra €135.
Most agents care about client satisfaction, but they also want to close deals quickly. If they list a home too high, it could take longer to sell, making their job harder. To get the best results, invite multiple agents to assess your home and compare their pricing strategies.
As a seller who thinks like a marketer, consider listing at a higher price than the agent suggests. Negotiating the starting price will help you understand what agents believe is realistic. A higher asking price may attract fewer viewers, but it often results in a higher final sale price. Buyers use the listing price as their reference point, so setting it strategically can work in your favor.
Avoid low starting prices, the Anchor Effect
A well-known marketing principle is the Anchor Effect. The first price a buyer sees influences their perception of whether future offers are high or low.
Agents often advise against listing too high and suggest letting the market determine the final price. However, a low starting price sets a low anchor, making higher offers less likely. If you attract 50 potential buyers with a low price, your agent will not schedule 50 individual viewings. Instead, they will select a limited number of buyers to view the home.
It is often better to have 10 serious buyers who are drawn in by a higher price anchor than 50 casual viewers who may not even get a chance to visit.
Choosing the right marketing channels
Most agents will list your home on Funda, but their additional marketing efforts can vary. Some local agents have a strong presence on social media, which can bring in more targeted interest through organic posts. Others have mailing lists with potential buyers who want to receive updates about new listings in the area.
Ask your agent what marketing strategies they use beyond Funda and whether they maximize visibility through different channels.
Make your listing stand out
Think like a marketer when presenting your home. Identify what makes your property unique and highlight those aspects in the listing description and photos.
High quality photos are essential. A sunny and colorful garden will attract more interest than a dull outdoor space in winter. The first image on a real estate website significantly impacts the number of clicks your listing gets. Take the time to choose a strong lead photo that stands out in a positive way.
Use your agent’s market knowledge
A good real estate agent understands buyer demographics and can help you target the right audience. Ask them about their insights to fine tune your home presentation and pricing strategy.
Agents collect feedback during viewings, but not all provide sellers with a summary of buyer reactions. Agree upfront that you will receive feedback from every viewing and every offer. This helps you learn from buyer responses and stay in control of the sales process.
Scarcity creates higher offers
Scheduling multiple viewings back to back helps create a sense of urgency among buyers. If they see others interested in the property, they may feel more pressure to act quickly and make a competitive offer.
Set a firm deadline for offers
When you receive an offer, it can be difficult to decide whether to accept if you do not know if better bids are coming. Setting a clear deadline for submitting offers prevents uncertainty. Let potential buyers know they need to submit their bids by a certain date, so you can review all offers at the same time.
Once the offers are in, do not be afraid to negotiate. Many buyers are willing to increase their offer or adjust conditions such as move in flexibility. Buyers are often more nervous than sellers. If they cannot improve their offer, they will simply let you know.
The agent as your negotiation tool
Buyers understand that real estate agents represent the seller. However, a good agent can still build trust during viewings by acting as a neutral middleman. This allows them to gauge buyer interest without committing to a response.
Since agents cannot make decisions on their own, buyers know that every offer must be presented to the seller. This gives the seller time to consider the best options without rushing into negotiations.
Conclusion
Thinking like a marketer when selling your home can help you achieve a higher selling price, better terms, and a smoother process. By understanding the motivations and tactics of real estate agents, you can stay in control and make informed decisions. Selling a home is not just a transaction. It is an opportunity to market your property in the best possible way.