I’m a Nerd!
It is just a fact. I always have, always will be. When I started helping my nephew with Algebra, I grabbed his text book, opened it and breathed in the smell of Middle School Math! It makes me happy.
I’m also an Industrial Engineer from Georgia Tech…and I’m a “hellofa engineer”! Math and analysis are fun for me. My first job was at Nabisco in New Jersey, and it was perfect for me…digging into data, making the production lines more efficient, and working with people that were doing the job to make their job better.
Now, I’m in Real Estate and I bring the same excitement to my work. I do look around sometimes and see what “seasoned agents” are doing, and I wonder how they could possibly succeed like this! Here are some examples!
Error 1: Search Engine Optimization
See if you can find the ERROR with this post. (address is marked out).
Here is where MATH ANALYSIS comes in. They listed this beautiful home for $501,610. Let’s say someone is looking for a home on a website and they select $400k-$500k. They won’t find this home. If you’re looking for $500k-600k, you’re in luck here! So why not list it at $500k EVEN and you can get both groups of people!
This isn’t Walmart. Listings at $499,900 are JUST AS BAD! You’re missing views and interest in the home! If you’re close to a round number, or numbers near $25k increments, just use those! $275,000 is better than $274,900, because of the way people search and how the major search engines are setup.
Basic Math combined with a Real Estate Search Engine!
Error 2: Not Optimizing Online Searches
Some Realtors just List your home on the MLS and just cross their fingers! Even in a Seller’s Market, it is important to get as many offers as possible to increase the amount you receive for your home.
Many Realtors® will take some cute photos, pop your information on the MLS, (maybe) do an open house, and then leave it to the stars. I like to study and analyze. I take every class I can on optimizing a listing using MLS and all of the other Real Estate platforms (like Zillow, Trulia, etc). I like to use Facebook and other social media to get your home in view of every person that could be interested in your home.
Covid has pushed even more buyers to search online first. Your online presence is more important today, than ever before. The MLS (multi-listing service) is just ONE tool. I will work on several platforms to get as many potential buyers to see your property.
Error 3: Not Making some Basic Home Updates
Well, this is pretty obvious. Hot Pink Carpet in the entire upstairs! This house should have NEVER been listed with this carpet. Yes, people can ask for a reduction because of the carpet, but it would be MUCH cheaper, in the long run, to replace this so that your house is not called, “the house with the PINK carpet”.
In this case, I’d compare the cost of the new carpet to the potential loss of a buyer that sees this carpet online. One thing to consider is when there is something in the home that takes your breath away, it is worth the upgrade!
Error 4: Being Scared of Math
I’m always taking a pulse on our local market. I keep an eye on “days on market”, “months of inventory”, “sales price/list price ratio” and several other analytical tools so that I can help guide you to make the best decision.
In some markets, you need to offer OVER the list price to even have a chance to get the property. You may need to offer cash over the appraised value of the home. There are many tips and tricks that can help you when making an offer.
Market Data is important when SELLING and BUYING a home. Make sure your Realtor can tell you about the current conditions and help guide you with knowledge.
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