WHAT CAUSES PROPERTIES TO STAND OUT IN TODAY’S MARKET

Last month I went to a Tom Ferry real estate seminar. There were about 500 agents in attendance. Tom Ferry is one of the top real estate “Gurus” in the nation and coaches Realtors. Every time I go to one of these events I am shocked at how much I learn. I was invited to join Tom and 8 to 10 other top agents for lunch and a mastermind group. It was amazing and I was honored to be part of such a “brain trust” for our industry. Tom spoke about the fact that what is happening in our market is happening just about everywhere and the things we can do to be the best REALTORS®.

In our mastermind group, we discussed what our individual experiences were and what was working right now. Tom also shared with us, from a mastermind group of over 100 of the top agents in Orange County, “What causes properties to stand out today.” After great detail and discussion on this topic the group came up with this list:

WHAT CAUSES PROPERTIES TO STAND OUT TODAY

1. Price – the best property for the price. Today’s buyer wants the best DEAL.
2. Buyer Incentives – seller buying down the loan or closing costs, flat panel TV etc.
3. Professionally Staged – a home must show great.
4. Commission – offering a higher commission to the buyer’s agent.
5. Exposure & Marketing – no price on ads, “price special this weekend only”, “Drastically reduced”, “$100,000 off the price”
6. Accessibility & Ease to show – lockbox and cooperative sellers.
7. Different financing options
8. Location
9. Upgrades & Finishes
10. Layout & Floor plan.

He addressed the group for comment and acknowledged that the last 3 are basically specific to the home and difficult to change. We discussed the list and our group agreed. He then asked, “What is your experience in giving a commission bonus to the buyer’s agent?” Several commented on how they had tried the incentive and did not find it very helpful. His group came to the same conclusion and he stated “the first three are all that count; and today everything comes down to PRICE.” So, although the group came up with this list of 10 ways to make a home stand out, they then qualified their list with only the top 3 really have any affect.This truly is nothing new. But, it is great to find out the top agents here in the valley and in other states are coming to the same conclusion. In today’s market, homes are selling. They are the best homes for the best price! It still amazes me how so many people think an ad in the paper helps sell their home, yet when they are looking for a home they rarely look in the paper.