Help Your Seller Enhance the Value of Their Home Before It Hits the MLS

Not every house is magazine-worthy, but every house has hidden potential that a seasoned real estate professional can unlock. How can you improve your seller's chances of getting their property seen once it reaches the MLS system? Some great ideas for enhancing the value of a home are second nature to you, but you need to communicate them to your seller. Help a buyer see more than just the price of a home—show them the value of location, floor plans, accurate square footage calculations, and the advantages of choosing a Realtor.

What Your Seller Should Do Before Listing Their Home

Your seller has decided to have you list their home and is anxious about getting it sold quickly. While you may consider signing the listing and organizing the real estate photography and 3D tours right away, give your seller some pointers about how to maximize value prior to the property hitting the MLS. Before you begin your real estate marketing plan, make a plan with your seller to tidy up and spruce up their home. Pay special attention to the list of little things, like having them do minor paint touch-ups, replace burnt-out lightbulbs, deep clean interior spaces, and give the exterior that professionally landscaped look.

Discuss Staging

Staging is a great way for a seller to prepare their home for sale. Options range from the seller staging their own rooms, to hiring a professional stager, or using the current property tech trend of virtual staging. All of these choices can assist the seller in getting their home ready for 360° tours so you can focus on your real estate marketing plan from there.

No Surprises

The documents required on completion of a sale are sometimes overlooked, especially in a busy real estate market. Make sure your seller is prepared with things like a current real property report (i.e., survey certificate), building permits and warranty information. Locating these documents can save time and hassle at a later date. Updates to the real property report and outstanding permits should be addressed as soon as possible. You want to avoid any surprises that may delay a sales transaction due to an encroachment issue or lack of development permit for a recently added deck.
How do you discuss value with your seller and how do you arrive at the listing price?

Value and Pricing: Are they the same thing?

Value is somewhat subjective. A buyer may place more value on a property depending on several influencing factors. Value is often personal – some may like a sprawling country estate whereas others may value old-world craftsmanship over real estate square footage. To increase the emotional connection to a property, you can focus on room dimensions with an interactive floor plan to show the spaciousness of a home or highlight the architecture through interactive virtual tours.

What Affects the Price of a Home?

Sellers want you to tell them how much their house should be listed for. This is where a real estate agent's value comes into play. You don't just pull a number out of your head because the house next door just sold for a certain amount. As a professional, you determine the list price of a home based on data. How quickly a home sells is affected by a great real estate marketing plan, pricing a home relative to square footage calculations, and the ratio of buyers to available homes.

The main reason a seller enlists you as their agent is to get the most money for their house, with the least amount of hassle, in the quickest and most convenient way possible. How do you get the best price for your seller? Make their property jump off the proverbial (web) page with options to trigger the buyer's emotional connection and satisfy their needs. Prepare the listing with professional real estate photography and 3D virtual tours so your virtual showings and open houses communicate value to potential buyers.

The Effect of Supply and Demand

Market value can get a little tricky. Value based on activity in the current market can cause prices to fluctuate. Things like how many homes are for sale, how many days they are on the market, how many properties are available, and what they offer in comparison to other similar properties. You must gather market data because it is often the driving factor behind the list price.

Preparation is essential to make the seller's home stand out. Before hitting the "enter" button on the MLS data input page, show the seller your value as a real estate agent.