How to Sell Your Home Before It Hits the Market
Selling your home before it even hits the market is every home seller’s dream. It means that your house will not spend too much time listed and go stale, and that you might actually get the asking price you want.
But how is it even possible to sell your property when it has not yet been listed? Creating interest in your home is essential if you want to sell quickly, and you can do this even before the official listing is posted online and on other property forums. Here’s how.
Try a ‘coming soon’ status
Once you’ve found someone experienced and qualified to help you sell, ask your real estate agent if it might be possible to put a pre-listing on their agency’s website, alerting buyers that are browsing the web to gauge the property options out there to keep an eye out for your online listing when it does go up. Creating a sense of expectation could go a long way in generating buzz about your property before it is even properly listed.
Another way to alert prospective buyers that might be driving through your suburb is to put a sign that says “coming soon” in the front yard, where the “for sale” sign would typically go. Prospective buyers love to feel like they’re jumping on a rare opportunity early, and seeing a sign that alerts them of a property imminently going on the market makes them feel like they’ve stumbled onto something great before competing buyers have. Of course, this means that your house will also need to be ready for unexpected informal viewings, which will require that you keep it tidy all the time. No worries – this will mean you’re already in the habit by the time there is actually an open house.
It goes without saying that you can’t use “coming soon” online listings or signs for an undetermined amount of time. Try to limit this to a period of about three weeks, as any longer will taint the entire idea, and might even lead to losing the buzz altogether. Things are only shiny and new for so long – don’t try to milk this technique for all it’s worth, but rather try to make your online listing and open house shine when the property does officially go on the market. Professional property photography is one way to do this, and don’t forget to ask your real estate agent what renovations could work in your favour when the time comes to negotiate a selling price with interested buyers.
Partner with a mortgage broker
Homebuyers usually enlist the services of a mortgage broker early in their property-buying journey. This is beneficial to buyers because the pre-approval tells them exactly what they can afford, narrowing their search criteria from the get-go.
Home sellers, on the other hand, do not typically partner with a mortgage broker unless they are also looking to acquire a property to move into after their own home has been sold. A mortgage broker, however, can be an invaluable ally for home sellers, too, foremost if they’re looking to generate some interest and buzz before the property is officially listed.
How are mortgage brokers beneficial to sellers, exactly? Well, sellers should keep in mind that mortgage brokers typically have a ready-made database of potential buyers on their books, many of which might actually be looking for a property in the same price range as what you’re property might go for. As they wait for their pre-approval, they can already be alerted about your soon-to-be-listed property, and again, this will make them feel like they’re privy to exclusive information before it becomes public.
Talk to a mortgage broker about the option of partnering with them. As they’ll still be getting business from the sale of your property, perhaps even putting a deal through quicker than they might have expected, makes this the perfect mutually beneficial relationship.
Ask the real estate agent that is helping you sell your property to recommend reputable mortgage brokers in your city or suburb that might be willing to partner up in this way. Again, the focus is on creating a buzz about your home before it goes on the market, which could help you to sell much faster than expected. You want to get the word out to the largest potential pool of buyers, and this tip may prove extremely useful in the long run.
Spread the word early and often
Never underestimate the power of word-of-mouth marketing. Even in the digital age, many people still only become aware of an opportunity when friends and family tell them about it. It is very likely that your property might ultimately sell to a friend of a friend of a friend – the grapevine persists because it works!
In this regard, you should try to spread the message of an impending sale as far and wide as possible. Tell your neighbours, friends and family all about the property, its features and what you are thinking of asking (of course, you should try to establish a fair asking price together with your real estate agent as soon as possible, after they’ve conducted their comparative market analysis and have made suggestions).
While traditional word-of-mouth is very important, don’t forget to also use the tech tools you have access to, to also get the word out. Post to your suburb’s social media page and WhatsApp group, and to other neighbourhood forums. When you post, do keep in mind that the property has not yet been officially listed and that your posts should be an alert to check out the official listing and attend the open house when the time comes to do so.
Have a ‘preview’ open house
The official open house is your chance to put your property on show, but another way to create some hustle and bustle before this opportunity arrives is to hold an informal “preview” open house before the property goes on the market. If you can try and schedule your preview showing when there are other open houses in your suburb, even better. You can be sure that your “coming soon” sign will already be attracting some attention, but coupling it with a preview of what the property has to offer could potentially maximise the turnout. This, in turn, could pique multiple buyers’ attention, helping you to already have interested buyers when the house goes on the market.
It has been shown that the average days on market has a significant influence on the sales rate of properties, and minimising the time your property is listed is also key to getting the price you’re aiming for. When you get potential buyers excited about the prospect of acquiring your property, they’ll want to jump on the chance to buy as soon as it comes.
When holding a preview open house, do keep in mind that you want to create a good and lasting impression with buyers. While you don’t have to pull all the stops here, you do need to ensure that every room is tidy and that the home is staged according to the standards required for a normal open house. Perhaps this is also a great time to have the photos for your listing taken.
To state the obvious, a large pool of potential buyers is crucial if your aim is to sell your property in the least amount of time. That means you want to draw the attention of a variety of people even before your home officially goes on the market. There are a few ways to do this, including posting a “coming soon” status on property forums and the agency that is helping you to sell’s website. You can even go as far as putting a “coming soon” sign on your lawn as a placeholder for the “for sale” sign that will take its place.
If you’re looking to get the word out, the grapevine is a great way to do so, as is using community social media pages and groups. A mortgage broker can help to market to buyers that are looking for a home just like yours.
A preview open house generates buzz and healthy competition among buyers who will be licking their lips by the time your property does enter the market. The more interest there is in your home, the greater the leverage you have to fetch a price that is fair, but still reaps a profit.
Finding a qualified and experienced real estate agent is one step of the selling process you should skip at your own peril. With Perfect Agent’s extensive list of trustworthy real estate agents in your city or suburb, you can expect real estate innovation from the very start. Haven’t found an agent that appeals to you? Let Perfect Agent help you to enlist the services of a property expert today.