1. STOP PAYING. LET THE BANK TAKE IT.
PRO: You get to just walk away
CON: This will mess up your life for a long time
2. FSBO & SUCCEED
PRO: You get to collect the listing commission
CON: You do all of the work
Increased legal risk 7% chance of success
You’ll sell on average for $58,000 less
3. FSBO... THEN LIST WITH AN AGENT THREE MONTHS LATER
PRO: You tried it, now you know that you couldn’t have sold it yourself
CON: No return on your time and investment trying to sell
Lost market time
Increased legal risk
4. LIST IT AS AN MLS ONLY (Limited service listing)
PRO: Save 1-2%
CON: You still need to do the work
Lack of agent support, expertise & guidance You could choose the wrong price No support in negotiations
Increased risk
5. LIST WITH A DISCOUNT BROKER
PRO: Save 1-2%
CON: You still need to do the work
Lack of agent support, expertise & guidance
Miss out on the best possible price due to lack of experience with pricing & negotiating sales
6. ACCEPT A “GUARANTEED OFFER” (About 75 cents on the dollar)
PRO: Know your home is sold immediately
No work
CON: Recieve about 25% less for your home
7. SELL TO AN iBUYER (Below market value + additional hidden fees)
PRO: Know your home is sold immediately
No home prep
CON: Home is sold approximately 10% under market value
Hidden fees
8. SELL TO AN INVESTMENT GROUP (e.g. Clear to Buy)
PRO: Able to buy before you sell
Get full market value
No need to go through the home selling process while in your home
CON: Additional fees approximately 2-3.5%
9.
PRO: Full market value
Agent support and guidance
CON: Potential lack of experience
Potential lack of resources
Full service experience, sold quickly, and for the highest net profit.
When it comes to selling your home, there are various tactics that can be applied. We realize not every seller is the same, and there is no “one size fits all’’ when it comes to putting your house on the market. Each tactic will impact the time it takes to get your home on the market, the price that you may list, and the timeframe it may take to sell your home. The Enclave team will work with you to determine the best tactics and strategy based on your individual needs.
PROS: Requires minimal time and resources to get your home on the market
CONS: Doesn’t change the rights of the buyer May not yield top dollar
PROS: Know ahead of time what a buyer may find during their own home inspection, reducing stress of the unknown Gives you time to fix any concerns Freedom to choose the contractors/professionals, rather than the buyer dictacting what they want Can cut down on the amount of negotiations and save you money if you’re able to complete the repairs yourself Reduces the chance the buyer will ask to lower the sales price due to needed repairs
CONS: Could expose major issues that you weren’t aware of and now need to be disclosed in the sale May have to complete the work or reduce the price to compensate for repairs Can take longer to put your home on the market You have to spend money to have the pre-inspection done (on average, about $450)
PROS: Our expert knowledge of the current market will help you prioritize fixes to determine which items will have the biggest impact on selling your home and where you should focus your time, energy and resources
CONS: Requires a small amount of work and planning from the seller prior to listing the home Some minor repairs may be required by your city’s building codes or buyer’s lender
You can never sell a house that’s the wrong price because nothing can ever be worth more than a buyer is willing to pay. As a result, what we call “Buyer Perception Pricing” becomes our North Star. Among all of the elements that go into pricing a home, how a buyer will compare your home to others available, is the guiding principle to choosing a winning pricing strategy.
Let’s be honest. This is a playful way of saying you may be setting the price too high.
Just under fair market value.
Fair market value is the price that a seller would accept, and that a buyer will pay, when everything is known (disclosed), and the property has been exposed to the market for a reasonable amount of time.
Staging means preparing your home to appeal to the largest number of buyers, increasing the chances of selling quickly and for a higher price. How we live in our homes is very personal and it’s the buyer that we need to appeal to while it’s on the market. Staging can also highlight your home’s best features, offer a new perspective to unique spaces, and proper staging can make rooms appear larger. Staging can help homes appear newer and move-in ready. Photographs of a staged home are more likely to attract interest online and in this day and age it’s not unusual for a buyer to purchase a home based solely on photos, having never visited the property in person.
A home can be staged by taking digital photos and using photo-editing software to add furniture and other home decor. Virtual staging can be beneficial to both unfurnished and furnished homes by adding or changing the furnishings in a room to give it a new feel. As a seller, it is possible your home is vacant and virtual staging is a way to help potential buyers see your home with furniture, which at least 80% of buyers believe is very important when purchasing a home. Virtual staging can also be a more cost-effective option to show what a space would look like with furniture compared to renting and hiring a stager to bring in furniture.
A pre-inspection ensures a smoother, more efficient transaction. When issues are discovered during a pre-listing inspection, the seller may want to have them fixed ahead of putting the home on the market. Either choice will make the home sell faster because it will prevent the buyer and seller from becoming entangled in long negotiations after the buyer has an inspection. Not only does this help the seller and their agent more accurately price the home, but it can also save the seller money. During negotiations to determine who will cover the cost of repairs, buyers tend to significantly overestimate the costs leaving the seller to lose far more money than they would have by completing the repairs before listing the home.
A home warranty is a service contract that provides protection should a covered breakdown occur and typically is renewed annually. Purchasing a home warranty is a tactic that can help ease any worries or concerns a buyer may have about any defects in the home. Some home warranties will offer coverage to the seller while your home is on the market and then can be transferred to the buyer upon sale of the home.
Open houses are one piece of the larger puzzle when it comes to the overall strategy of promoting your listing. Open houses can be more relaxing for potential buyers because they aren’t required to schedule a showing and juggle scheduling with multiple parties They can sometimes urge buyers who were on the fence about a house to go and check it out because it feels like a lower-pressure situation. It’s simple; the greater the foot traffic through your listing, the greater the opportunity for finding a buyer or having potential buyers schedule another showing.
Calendly takes the logistical nightmare out of aligning schedules for a showing. Sellers can create a schedule/timeframes that they are available for showings, and buyers book online with just a few clicks based on that availability. It’s a win-win for agents as well as potential buyers.
Mattorport is a realistic, immersive way to experience a property online. A 3D virtual tour lets home buyers move through a property and see it from every angle, and a prospective buyer can do this walk-through tour from anywhere at any time. According to Matterport, 95% of people are more likekly to call about properties with 3D virtual tours, and it decreases time on the market by up to 31%.
We can list your home as “coming soon” on the MLS market for a limited time prior to when your home is ready for showings. By doing this, subscribers to the MLS will be notified that your home will be fully available for showing on a future date. We can’t show your home to buyers during this time, but it allows you to line up future showings, encourages competition for your listing, and doesn’t count in the Days on Market statistic.
Zillow is the dominant hub for real estate traffic. With our Zillow Premier Agent Status, 3D Zillow Home® tour, and The Enclave Team’s overall presence on the site, your home will get maximum exposure. Did we mention that we are the #1 Zillow team in the state of Minnesota?
The “Sell First” strategy is ideal for the move-up buyer who doesn’t want to get stuck paying two mortgages simultaneously. Selling the existing home first eliminates the risk of having to carry two mortgages if you don’t sell your existing home in time. This is a good option for moveup buyers who are banking on the proceeds of their sale to fund their new home ( ie down payment). By selling first, you’ll know exactly how much money you have to purchase your next home.
When all is said and done, this move-up buyer approach is the most common and ideal, but getting there is another story. Aligning your purchase and sale closing dates can be tricky. You’ll also have to move out and move in on the same day.
In this scenario, you’ve planned ahead – you know what will need to be done to sell your home, the estimated proceeds you will receive, and you’ve started the organizing and decluttering process so your home is market ready. Planning and flexibility are key in this scenario.
If homes in your area of choice are selling faster than the ‘For Sale’ signs can hit the front lawn, the “Buy First” strategy might be the way to go. By buying your new home before selling your old one, you won’t feel rushed into settling for a sub-par property, or having to seek alternative temporary housing options while you shop the market. This typically requires a bridge mortgage or investor financing. Your moving strategy will depend on a number of factors, such as your financial situation, the current housing market conditions, personal comfort level and even your personality. We will help you consider all of this when making your decision as to which one is best for you.
The American Dream is an EMMY-Nominated, National TV Show streaming and airing in nearly every major US city. The American Dream selects only 12 Power Players™ to be the voice of their city; showcasing the culture, lifestyle, and best listings. These Power Players™ represent the top 1% of Realtors in the country and are the most recognized leaders of their Real Estate market. Beth Nordaune, CEO of The Encalve Team, is one of them.
WHY LIST WITH AN
AMERICAN DREAM POWER PLAYER OF REAL ESTATE™?
There are 20,000 realtors in Minnesota. Beth Nordaune, representing The Enclave Team, is ONE of FIVE selected as a host with the option to feature your home on a nationwide platform. We think that speaks for itself.
