When you decide to sell your home, you might ask yourself “What makes my home stand out?”, “Why would someone choose this home over another?”, or “How can I position this property to compete with other listings?”. Answering these questions involves a combination of factors, including a comprehensive market analysis and pricing strategy, enhancing curb appeal to attract buyers, and implementing effective marketing to maximize visibility for your listing.
Pricing
The way you price your property determines the audience it will attract, as buyers will evaluate it based on their budget and price range. Through a comparative market analysis - commonly referred to as a CMA, a Realtor® will help you find the current fair market value for this property. This process involves researching recent sales, pending transactions, and similar properties currently on the market. Pricing your home too high may discourage potential buyers, while pricing it too low could mean leaving money on the table.
As full time brokers, Max Hutcheson and Deven Meininger closely monitor the real estate market in La Plata County and Southwest Colorado. Our extensive experience and in-depth knowledge allow us to identify trends and key factors influencing the local market. You can explore monthly residential statistics here, which play a crucial role in determining accurate pricing.
Preparing & Staging Your Home for the Market
Whether you plan to live in the home until it sells or move out beforehand, there are steps you can take to ensure the property photographs well and shows its best. While this doesn’t apply to vacant land, commercial real estate can also benefit from the same tips and tricks to enhance its presentation. In some cases, a pre-inspection may be a smart choice which will allow you to identify and address any necessary repairs before listing the home.
Clients often ask us if it is better to remodel parts of the home that may be outdated before selling. Some updates such as new paint or carpet can definitely help the home show better and we always recommend sticking to neutral colors. Major updates, such as full bathroom or kitchen remodels, can make the home more appealing but may also deter some buyers whose tastes differ. In most cases, it is more practical to sell the home “as-is” at a lower price so that the new owners can update rooms as they please. Generally, the cost of a remodel often exceeds the additional profit it may bring from the sale.
Staying in the Home
If the seller remains in the home until closing, it can be hard to maintain a “show ready” home. In addition, scheduling showings can be more challenging when coordinating with homeowners or renters. That said, it’s entirely manageable and may simply require a bit of flexibility from everyone involved.
Vacant Home
When the home is vacant, scheduling showings and keeping the home presentable are easy. However, when the home is empty, it can feel less personal and buyers can have a hard time imagining the feng shui of the space and envisioning where their furniture will go. In this scenario, we recommend staging the home, specifically the main rooms (kitchen, living room, primary bed/bath). Staging can include furniture, decor, and homey touches that make the space inviting. The Durango Team offers a staging service for both occupied and vacant homes.
Open Houses
Hosting open houses allows for a higher amount of showings at a single time which can help with scheduling. Open houses can also draw a larger crowd, from signs, advertisements, and word of mouth, that may have not known about the listing prior.
Marketing
Whether you plan to list your home as “For Sale By Owner” or with a Realtor®, marketing your listing is a crucial step. When working with a local Realtor®, you’ll benefit from your property being entered into the local multiple listing service (MLS) which allows all brokers to view the listing, any related due diligence documents, and receive updates, like a price reduction or a home coming back on the market. Additionally, some real estate brokerages offer extra services to help sell your home. The Durango Team at The Wells Group delivers additional exposure through newspaper ads, printed guides, social media, and placement on multiple websites, among other strategies.
Professional Photography, Videography, and 3D Tours
As technology continues to advance, professional photography, videography, and 3D tours not only showcase the home in its best light, but also provide buyers with a clearer understanding and strong first impression of the home. Out of area buyers can take a virtual “tour” of the home ensuring they are more knowledgeable about the layout and finishes of the home before they even schedule a showing.
As Durango Realtors®, we provide the most up to date and personalized information coupled with the best marketing package for selling real estate in Durango and Southwest Colorado. Please don’t hesitate to contact us with any questions about listing your property.
