I just had a great conversation with a potential client and in my discussion I cam across something I wanted to share ... every property must have a WOW factor to sell and I mean every property!
No matter what you are listing you have to have at least one thing that you can sell that makes that property special, unique, better or just stands out. Unfortunately the catch phrase of WOW factor has been misused and abused, so let me give you a better example to explain my point.
Let's say you have a great piece of property, vacant land it has a great view, all utilities are in place and it's priced right in line with its competition and recent closed sales. What's your wow factor? What can I sell to clients and other agents in just a few words? Great view, priced at market, it's got utilties? NO, none of those will capture the imagination or interest of anyone in this marketplace. What you need is something special ... it could be the price, maybe you list the property well below the competition ... it could be a unqiue view that is significantly better than the competition ... regardless there has to be one thing that makes this property better than everything else on the market.
The unfortnate thing is that in today's market price is probably the most important aspect of any listing and price is one of the biggest factors that we DON'T control. We can control our marketing efforts, we can control advertising, we can even suggest improvements to the property, but the market is what the market is.
For those of you that have been in the business and been through a cycle like this before, I'm preaching to the choir. For those of you that might be a little newer, PLEASE educate your sellers! In today's market if you list your home at $250,000 and there are three homes on the street at $250,000, chances are the one buyer that comes through won't buy your home. Find the wow factor and market the heck out of it!!!! Better yet find a combination of wow factors and now you actually sell it!
More information contact the OnPoint Team at Century 21 RiverStone
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