How good agents will get you 13% more for your home
Marketing matters. This past winter, I had the privilege of selling a condo for a friend. As part of our due diligence, we noticed that a near identical condo has been languishing on the market for over 2 months. Funny enough, the two condos ended up closing 10 days apart from one another but with drastically different results:
| Condo A | Condo B | |
| Sold Price per sqft | $376 | $425 |
| Sold Price to List Price | 5.5% under asking | 6.3% over asking |
| Day On Market (DOM) | 76 days | 8 days |
This is even more shocking after I’ve peeked at condo A and discovered that it may actually be in better condition in some regards but a professional marketing strategy is what ultimately made the difference:
Professional Photography: One glaring difference between the two listings is the quality of the photos. Condo A photos look like they was taken with a blackberry phone and didn’t do any post processing to brighten up the rooms.
Social Media and Buzz Gen: A week prior to Condo B’s open house, our team did a social media blast to alert our circle of clients and friends about this event. We also engaged with the existing neighbors and residents of the condo about the upcoming traffic that the open house will generate. This created a sense of buzz and excitement around our listing. The social media blasts also pulled in online traffic to Redfin and Zillow, further elevating it to a HOT listing.
Minor Repairs: First impression is everything and if you’re going to have people fall in love with your property, you not only need to catch their eyes but you also want to make the minor repairs that might sour your first walkthrough. With Condo B, we did a thorough walkthrough to make sure that basic items are repainted and that any plumbing issues are repaired.
A Property That’s Cared For: Access to Condo A was only a lockbox code away. This means any Joe Schmoe can enter and exit the condo. You’ll never know if they left the light on or damaged the plumbing along the way. With Condo B, our team ensured that everyone walking through the property had their shoes off or worn a shoe cover. Of course we made sure the floor is clean as a whistle but it also communicates to the attendees that we care about this property and psychologically nudges them to treat it as their own home.
All things considered, the price difference between condo A and B are staggering, nearly 13% or $32,000. That’s the price of an agent that cares. Follow for more!
