Pool Boy or Buyer Pool?
A show on the Bravo network recently featured three high-end real estate agents who routinely work million-dollar-plus deals, in the City of Angels, Los Angeles, California. I can’t say that it reminds me exactly of when I was a new agent!
Called Million Dollar Listing, the show is a “docu-series” with three young stars:
• Josh Flagg graduated high school in 2004, stepped right into high-end residential sales, made several record sales & became one of LA’s top agents.
• Madison Hildebrand, a recent Pepperdine graduate, sold his first home to a celebrity and now sells high end homes up to $20 million.
• Chad Rogers got his real estate license at the tender age of 18, rose through the ranks & currently works for a prestigious high-end brokerage firm.
You're probably asking, "Where is she going with this?" Nowhere – and everywhere! Watching the show, I couldn’t help but wonder, if these younguns can sell a $20 million dollar house in Beverly Hills, in this economy, we can certainly sell $200,000 homes here!
Okay, so they’re selling to celebrities. And, yes, residents in Beverly Hills, West Hollywood, ‘The OC’ and the surrounding counties are 'famous' for their big wallets—at least that’s our perception on the East Coast! It may just be easier to sell a house with fifty natural selling points –huge pool with the ‘pool boy’ included, beautiful grounds cared for by full-time landscapers, two-ton chandeliers, stables (you get my point, my dream list goes on and on!)—than it is to sell an average house that may have five selling points.
However, having said all that, when times get tough, remember that you too live in a beautiful city; you have beautiful homes for sale, in nice neighborhoods and great communities. Your listings have many selling points to “show off,” one being that they’re at more affordable prices and with a larger buyer pool—more who can afford them!
So, focus on the positives of your listings and show them off in every way that you can!
Key points to help you SELL those listings:
• A clear, concise, non-repetative, rich, inviting MLS write-up--need I say more?
• Clear, crisp photos—and plenty of them! This is the NUMBER 1 COMPLAINT that the consumer has regarding their home search, according to last year's NAR buyer/consumer survey. The puzzling thing--it's the easiest thing in the entire transaction to do!
• Ask your sellers to tell you what, exactly, made THEM select the home that they’re in –that large master closet could be what their buyer is looking for too!
• What is their favorite room in the house?
• What do they LOVE about their neighborhood?
• What do they like about the location?
• Does their HOA serve them well?
These are just a few things to get you going…brainstorm with your clients as you tour their home. Ask what changes they’ve made—is the roof new? Do they have a separate well for irrigation? Is that HVAC new by chance? Remember, you’re making notes of the positives.
Another thing that I love doing is to schedule showings for my sellers to view the other homes in the neighborhood currently on the market. Not only does this help you and your sellers to see what their home has to offer that is superior to the competition but, it also helps them see what shows well and what doesn’t from a ‘buyers perspective.’ Lastly, now is a good time to review how the other homes are priced and helps your sellers to see if they need to make a price adjustment right out of the gate!
Again, focus on the positives of your listings and show them off in every way that you can! You may not have the houses to sell with the pool boy included but, target that buyer pool that you do have with your BEST marketing!
*Of course, a strong online presence is an important facet after you've gathered all of your selling points and completed your write-ups!