When you\u2019re advising your seller clients\u2014on both price and presentation\u2014the most important thing to keep in mind is this:<\/p>\n\n\n\n
WHO is the target buyer? <\/strong><\/p>\n\n\n\n For example, let\u2019s say it\u2019s a starter home in a newer suburban neighborhood. <\/p>\n\n\n\n The most likely Target Buyer is a young couple with little kids or planning to have kids.<\/p>\n\n\n\n So what\u2019s important to them?<\/p>\n\n\n\n ——————–<\/p>\n\n\n\n One thing could be the proximity to parks and schools. Whether it\u2019s a plus or a minus, this needs to be considered when determining the list price.<\/p>\n\n\n\n Another thing is that young buyers probably prefer more modern finishings. And, they want as many bells and whistles as they can get (within their limited budget). <\/p>\n\n\n\n For example, some starter homes have master ensuites, and some don\u2019t. Does your Target Buyer want an ensuite? <\/p>\n\n\n\n You bet your sweet bippy!<\/p>\n\n\n\n All the arguments from your sellers about why it\u2019s better not <\/em>to have an ensuite (bigger bedrooms, one less bathroom to clean) mean diddly-squat when you try to convince the Target Buyers that they don\u2019t need one.<\/p>\n\n\n\n They\u2019ll stare at you like you\u2019re a blithering idiot. <\/p>\n\n\n\n \u201cOK, fine. But the difference in cost between a house with an ensuite or without an ensuite is probably less than $10K,\u201d s<\/em>ays your prospective seller with no ensuite.<\/p>\n\n\n\n Resist. Urge. To. Roll. Eyes. <\/p>\n\n\n\n The difference in cost at the time of construction is ancient history. We\u2019re talking about perceived value TODAY,<\/em> and it\u2019s a LOT more than $10K. <\/p>\n\n\n\n ——————–<\/p>\n\n\n\n But it\u2019s not always about price. What inexpensive improvements could be made to increase the value of your new listing, from the perspective of your Target Buyer?<\/p>\n\n\n\n A Home Staging Consultant could provide some great ideas for maximizing value. Perhaps they\u2019ll recommend a splash of bright paint on a highlight wall or a powder room. Or, maybe your sellers need to freshen up their artwork with some modern pieces? \ufe0f<\/p>\n\n\n\n Remember, it\u2019s your job to define the Target Buyer and determine the best pre-listing prep and marketing ideas to maximize the property\u2019s value. Bringing in another professional to help will only enhance your image.<\/p>\n\n\n\n By concentrating on catering to your Target Buyer, your clients will sell quicker, for more money, and you\u2019ll get more referrals.<\/p>\n\n\n\n ____________________<\/p>\n\n\n\n This article was inspired by module #10 – The Big Picture CMA – part of the Agent Skills Master\u2019s Program<\/a>.<\/p>\n\n\n\n Within this module, you\u2019ll learn all about a simple but highly effective simplified system for determining the right price, developed by Ted, and now offered exclusively to Agent Skills students. The Price Adjustment Method? Throw that ridiculously complicated system in the garbage where it belongs. Keep it simple, and obvious.<\/p>\n\n\n\n