Clear strategies sell homes

Home sellers, what’s your plan? Whether it’s to sell quickly, to maximize profit, or avoid the hassles of multiple showings, it takes a good plan, known in the real estate business as a ”competitive market analysis” or CMA, for sellers to realize their objective. Sellers are routinely advised to select an agent-based upon their CMA, which may run several pages or more. CMAs typically contain three “standard things,” says Jared Frost of Blue Pebble Group, Keller Williams, Denver. Those are research supporting a specific list price, the commission t charge, and a detailed marketing strategy. Now, with economic uncertainty, a good CMA is especially critical. Here, agents from around the country share how they are crafting CMAs:

An intensive examination of recent sales

The similar price homes sold for in the past several months is the guide for setting a list price. Now, though, “It depends on how quickly a property got under contract pre-COVID,” says Irene Keene, Coldwell Banker Realty, in Madison, Connecticut. If the property went under contract in a month or so, “the property was priced right,” she adds.

An active survey of the competition

While recent closed sales and pending sales typically guide pricing, an examination of what other similar homes on the market are priced at “allow you to understand how the market is changing,” notes Vicente Enriques, The Enriquez Group, Keller Williams in San Diego.

A comprehensive online presence

“Virtual tours are an absolute requirement now,” says Frost, since buyers are shopping online more than ever to keep physical visits to a minimum. However, quality tours are often costly since they are filmed by a professional photographer. Agents may be unwilling to reduce their commission, Frost adds, but it’s “worth the cost.” Besides online tours and listing presentations, look for agents who provide other online marketing on social media, and “Facebook Live” tours, concludes Paige Elliott, Dave Perry-Miller Real Estate in Dallas.