America is suffering from a lack of properties for sale. Current housing stock on the market currently stands at 1.4 million properties, and it hasn’t been this low since 2012.
The number of homes for sale is 7.1% less than compared with May last year, according to the real estate brokerage Redfin. New listings are at their third-lowest level in a decade.
While some owners are shying away from selling, fearing that the 6% to 7% mortgage rates may dampen their prospects of a good price, this is the wrong play.
With more buyers than sellers, the dynamic of supply and demand is keeping prices buoyant for well-presented properties targeted at the right buyers.
So, to win this game, focus on sales and marketing if you want to attract multiple buyers and receive competitive offers.
Photography
You cannot beat great photography: it’s essential for every media channel. Don’t skimp on this, an experienced real estate photographer is worth every cent.
Video
Your video must show the generous space available in the property, illustrate how the layout links the rooms together and exploit any views.
Social media
Instagram and Facebook are two great ways to target and attract buyers while Tiktok is becoming more popular. When choosing your agent, always ask them about their social media profile.
Copywriting
You don’t want your biggest asset described in clichés. Work with professional copywriters who can exploit your home’s best facets and capture the buyer’s imagination.
Property portals
Zillow, realtor.com, Trulia and Redfin are the main choices. Talk to your agent about what it costs to raise your property’s profile on the search results pages of each of these sites. It will cost extra but can give you cut-through.
Signboards
Serious buyers who want to live in your neighborhood will cruise the streets, so invest in a great signboard. The standard signage is 24in x 18in. But they come in all shapes and sizes.
Staging
Staging your home is an excellent investment. A professional will style your home, renting appropriate furnishings and art to put your property in the best possible light.