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What Are the Odds?

There are only so many houses that are going to sell in a given area in a given period of time. Wouldn’t you like to know what the odds are that your home will be one of them? I know what you’re thinking. Oh come on. It’s not that simple. There are so many things that impact a sale. Size, features, price, location, and all of the great things that realtors do to market and sell the property and the price point. Yes, I can calculate the odds, and yes, all of those things change the odds. Let’s get to work.

How do you know if your house is above or below the average? Where do you stand? Be honest with yourself. Is your location better than two-thirds of the homes at your price point? Are your size and features and condition “beat out” 66% of your competition? Do you even know what your competition is?

How do I improve the odds of selling? Prepare! You’re in a competition, so get ready to compete. Start with location, location, location. You can’t move your house to a new lot (well, some houses in Tennessee can), but you can make the best of the lot you have. Make your lot awesome. Clean, cut, clear, plant, paint, fix. Make the outside look impressive.

When I list a property, I nicely tell you how to arrange your furniture, redecorate, what to move, what to keep, and what has to go. I tell you how to prepare for a showing, what to do, what not to do. It’s a system. If I tell you to take your very cute extensive collection of cat figurines down, do it! It’s not that I am anti-cat; I am pro new villager. If you want to know more about how to prepare, call me and invite me over to look at your house. Ok, you did everything you can for location, arranging your furniture for maximizing the room apparent sizes and flow, and fixing and upgrading for condition. You boosted your odds as much as you think you can. You’re ready. Now what?

Cast your net as far as you can. When I list a house for sale, of course I advertise local, because neighbors talk it up and know potential buyers. But, quite honestly, most people reading this paper already live here. We need to expand. Cast the net farther. Where do buyers come from? They come from other parts of Knoxville. They worked hard their live long days and finally move to Tellico Village at retirement. So we need to market hard in Knoxville. They also live in Illinois, Michigan, Ohio, or Florida. That sums up most of us. If you moved here from one of those places, raise your hand. If your hand is up, you probably look silly, so put it down before someone sees. How do people in those locations find homes? Trulia, Zillow, Realtor.com, ColdwellBanker.com, and relocation companies. Not all houses are on these sites. Win online = improve your odds!

How else do you improve your odds? Awesome professional photos = increase your odds. Photos taken by a professional photographer are better. They absolutely make a difference. Direct mail = increase your odds. Website for your house = increase odds. Mobile website and virtual tour = increase. Cast a large net = increase. Professional printed brochures = increase. Excellent write-up written with Zillow in mind = INCREASE YOUR ODDS. “Written for Zillow” means written for someone in California that’s never heard of Loudon but loves lakes and golf and hates paying 13.3% state income tax.

I would like to make one comment about price, which is, notice that I didn’t comment about price until the end. If you’re demanding top price, your home must be the best. If you home is not the best, then price it so it’s the best for the price you’re asking. Check your competition, listen to the market, listen to the feedback, react, fix it, change it if it needs to be changed, and try something new if it’s not working.

In summary, if you want to sell, the odds are against you before you even start. It’s a competition. Prepare for battle. Stack the cards in your favor. Every little bit helps. Cast a wide net. Make a great first impression. Maximize every lead. Listen to your feedback. If it’s not working, change it.

Are you buying, selling relocating, down-sizing, or up-sizing? We have a variety of Tellico Village Realtors that will be more than happy to help guide you along the way! Whether you are new to the area or a local, we are sure to be both knowledgeable of the market, the community and the area. Call us today and be one step closer to the home of your dreams!

By Tom Gongola, Broker

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