Follow tips for marketing a relocation listing
People often think of relocation listings as an opportunity to purchase a property at a real steal.
That is because people tend to assume that a seller who is relocating might be more desperate to sell the property, and thus more likely to accept a lower sales price.
But, Realtors who regularly market and sell relocation listings know that this is not necessarily the case.
While it is true that the Realtor might have a shorter timeframe (typically 90 to 120 days) in which to market the property, the goal is generally the same as it is for any listing, which is to obtain the highest sales price within the shortest timeframe.
A relocation seller might be more motivated to get the property sold, but that doesn’t mean that they will be willing to give it away.
So, given the relatively short timeframe, the listing agent needs to jump-start the marketing strategy, and work hand in hand with the seller to prepare the property to go on the market.
Mark McNitt is a Realtor with Bernstein Realty who has worked with many relocation sellers over the past several years. He said that price is definitely a critical factor, and so a relocation listing needs to be aggressively priced from the start.
But, since it is equally important for the home to be market ready, McNitt said that he always tries to see the property through the eyes of a prospective buyer.
“A good Realtor will be able to point out the things that are urgent versus those things that don’t really need to be done before listing a property,” McNitt said. “So, because of the shortness of time, I really emphasize the fact that we want to try and get the critical things done in a timely manner.”
He added, “I try to be hands-on with the seller and help them get the home ready, by discussing decluttering the property, and encouraging them to utilize contractors if they need help with repairs or cleaning.”
When he meets with relocation sellers, McNitt said that he always points out the positive attributes of the house that will be important to emphasize in marketing the property.
He said that this can be especially helpful when the home is in an area or neighborhood that is saturated with competitive listings.
“I think about how a buyer is going to see the home and what features might be important to buyers, like having a second bedroom downstairs, or a great pool, or a killer garage with a workshop. These are all important things that I will emphasize in my marketing of the property,” McNitt said. Unique features
Pointing out the unique features of a property can also be critical when marketing a home in an area that has a lot of new construction available, because it can be more difficult to compete with builder incentives and the prospect of buying a brand new home.
So, decluttering the home as much as possible can be an important way for potential buyers to be able to see a relocation listing in the best light.
Bill Phillips, a Realtor with John Daugherty, Realtors, added that there are sometimes simple solutions that he suggests to relocation sellers for the storing of boxes and other items while the home is on the market.
“Sellers should isolate all of their moving things into the garage, because buyers won’t see those boxes as being out of the ordinary,” Phillips said. “So, I suggest decluttering and depersonalizing the home, and securing items that could walk off, like medication, firearms and other things of that nature.”
He added that he really emphasizes the importance of the home looking fresh and clean to all perspective buyers.
“I always ask the sellers to put themselves in the same frame of mind as the buyers.
So, cleanliness is one of those key things. If the kitchen and bathroom areas look as spotless as possible and well maintained, then buyers will automatically correlate that with the property being well maintained,” said Phillips.
He also said that the outside of the property is something that shouldn’t be neglected, since that is generally the first impression that a buyer has of a home.
“The lawn and shrubbery need to be pristine. So, I always suggest adding some flowers and some potted plants with some color. It just sets the mood for the buyer when they come into the property.
The seller might also want to clean or refinish the front door, which will make it look fresh and inviting,” Phillips said.
All of these things are important for the overall marketing strategy of the property, especially given the short timeframe of a relocation.