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How To Sell Your Home For More Money… With Fewer Showings.
If you are like many homeowners, then you will spend an astronomical amount of time showing your home to buyers that may not even be interested in buying it.
It can get to the point of taking over your life. The average home showing takes 3-4 hours of your time. Most owners have to show their homes 8-10 times before making a sale, and some homes are shown as many as 30 times.
That means the average person spends 24-40 hours of his or her life selling one home, and some people dedicate 80-120 hours to the process.
Many homeowners jump at the chance to show their homes to anyone and everyone. When a buyer calls, they drop everything for the showing. That’s a big reason why it takes them anywhere from 8-30 showings to make a sale.
In the beginning, you take the showings in stride, but over time, they create a great deal of stress. The stress isn’t just on you. It is on your entire family and it will only get worse as long as you continue showing your home to people who don’t want to buy it.
Take a minute to think of what goes on
whenever you have to show your home.
Small kids have to go into the playpen while you clean the house from top to bottom. Then, they have to sit in the car or go to a nearby park so you can show the house to potential buyers.
Kids don’t like chaos. It is very stressful on them. They might start acting out more or requiring extra attention to combat the stress.
You have to clean the house from top to bottom. This is stressful on your spouse. He or she has to help with cleaning the house every time there is a showing.
Once the cleaning is over, your spouse gets to take the kids to the park. That can be hard work by itself, but it is even harder after spending all day at work.
Your pet gets locked in a crate. If you have a dog, then he can’t run around during the showing. He can’t even run around while you are cleaning up the house. That means he gets to spend hours in his crate when you have to show the house.
You do all of this, only to risk showing the house to someone
who was never going to buy it in the first place.
It’s sad but true. Most of the people who look at a house are not going to purchase that particular house. Oftentimes they are not serious buyers. Or, they are not interested in your house and are only looking at it because of curiosity.
I’m going to let you in on a little secret.
Many Realtors show buyers a bunch of houses because they want to increase their odds of selling them a home.
According to the National Association of Realtors, the average Realtor sells seven houses a year, so each home represents approximately two months’ worth of income for that Realtor.
That means that each customer a Realtor gets is incredibly important. The Realtor wants to close that deal so he can earn his commission.
Sadly, most Realtors go about it the wrong way. They think they can increase their odds of making sales by showing as many houses as possible to that potential buyer.
They flood the buyer with options, hoping he will bite. At the same time, they don’t understand what the buyer is looking for, so they are unable to deliver.
Let’s look at an example of how the process typically works. In this example, a Realtor has a potential buyer who tells him he wants to buy a 3 bed/2 bath house in a specific area. He is willing to spend around $200,000 dollars.
The Realtor will stop right then and print out every listing that meets that description. He will also print out some listings that come close to meeting that description. They might not have 3 bedrooms or they might be slightly over budget.
He takes his client out and they go from one house to the next. The buyer might see a ton of houses, but in most cases, he won’t be interested in any of them. None of them has that special something he wants in a house.
The buyer will have to go on several outings to find the perfect house. This leads to a lot of wasted time for the buyer and the seller.
In fact, most buyers end up seeing anywhere from 18-50 houses before they make a purchase. If the buyer looks at 30 houses and sellers take up 3-4 hours per showing, the buyer will end up wasting 90-120 hours of his time and the sellers’ time.
So many of these hours could be saved if sellers learned how to qualify buyers ahead of time. Then, buyers could look at listings and know if they wanted a particular property immediately.
They would not go out to the property if they didn’t want it. If you were the seller, you would not have to prepare your house for a buyer who wasn’t going to make a purchase.
Instead, you would only prepare your home for buyers who were interested in your house. You would cut down on the number of showings, but each showing would have the potential to turn into a sale.
The good news is that this report shows you how to find the serious buyers and get them interested in buying your house.
Instead of showing your house to anyone and everyone, only show it to people who are interested in buying it. That will help you sell your house faster and reduce your family’s stress.
I will show you how to do just that later in this report. First, though, you need to examine the mentality that is hurting your ability to sell your home.
How do we attract the best buyers to our home?
The key to this entire home selling approach revolutionary finding discovered by an Italian Economist. His name was Vilfredo Pareto.
The most important thing we can learn from Pareto is the Pareto Principle, also known as the 80/20 rule.
In 1906, Pareto was doing a study and discovered that 80% of all the land was owned by 20% of the people.
He also noticed that 20% of the pea pods in his garden contained 80% of the seeds. It’s the same thing today. Today, 80% of the wealth is owned by 20% of the people.
The 80/20 rule applies to most things in life. For example:
- 80% of your income is derived from 20% of your work.
- 80 percent of a business’s income is going to be derived from 20 percent of their customers.
- If you go to a job, 80 percent of your income is going to be derived from 20 percent of your work. Whenever we go to work, there’s always 20 percent. That is the most valuable bit of work that we do for our boss, our customers, our patients, our clients, etc.
- 80 percent of our value to that person is derived from 20 percent of our work.
You can apply this rule to everything in your life.
You might wonder what all of this means. In a nutshell, it means that some things are substantially more important than other things. In other words, things are not equal. Approximately 20% of what you do matters. The other 80% is insignificant.
It is important to understand that this is not always split at 80/20. It can be 70/30 or anther percentage. The key is that the two numbers are not equal and they are usually close to 80/20.
You have to understand this concept before you can save time when selling your home.
How can you apply the 80/20 principle to selling your home?
Because so many Realtors and sellers buy into the false idea that more is more, they completely ignore the Pareto Principle.
The 20% is vital and the 80% is trivial.
Now that you know what the 80/20 rule is, you probably want to know how to use it when you are selling your home.
When you use the 80/20 principle to sell your home, you aren’t trying to sell people on the entire home. You know that 80% of your home’s features are trivial.
That is because they are the same features that all of the homes in your neighborhood have. Instead of focusing on those trivial features, you need to focus on the vital features.
These features make your home unique. These features will make it easier to sell your home for the full asking price.
In order to understand this, let’s look at some examples.
The 80/20 Rule and Picking from Similar Houses
Earlier, I went over an example where someone was looking for a 3 bed/2 bath house for about $200,000. Let’s expand that example and assume that there are five houses that meet that description in a specific area.
The Realtor and the buyer go to the area to look at the five houses. They are all close to being the same house and they are close in price. On paper, you might think that the buyer will have a hard time deciding between those five house.
That is not the case, all because of the 80/20 rule. In this case, let’s say that four of the houses don’t have a pool, but one of the houses does. The buyer sees the first four houses that don’t have the pool and he is not interested.
He turns his nose up and either doesn’t put in an offer at all or makes a lowball offer. Then, he sees the final house and it has a pool.
Suddenly, he is ready to pay the full asking price, even if the house is more expensive than the other four he saw. He doesn’t put his bid in based on the 80% of the features the five homes shared.
Instead, he put the bid in based on the 20% that was unique about the final home. The 80/20 rule sold this home. The 80/20 rule doesn’t just help people sell houses.
The 80/20 Rule causes homes to sell for more money.
I am going to go over a real life example that I actually witnessed. In this example, a Realtor friend of mine was taking a potential buyer around to view houses.
They went from house to house, and in each case, the buyer put in offers that were 10-20% below the asking price. He would not budge. My friend wasn’t sure if he was ever going to make a sale.
Finally, they went to the house that didn’t have a lot of curb appeal. It was not a good looking home. Even though the house didn’t look great, it was the one that finally broke the tough negotiator down.
Suddenly he was willing to offer the full asking price. You might wonder why this house broke him. It wasn’t because he had a thing for ugly houses. Instead, it was because of the 80/20 rule.
My Realtor friend took him to houses that shared 80% of the same features, and the buyer did not care about any of those features. He was not interested in bedrooms and bathrooms. Instead, he was interested in that extra feature that this one home had.
In this case, the house was on a hill and had a gorgeous view. All of the other houses were on flat land. That view sold the buyer. He didn’t buy the house because it had hardwood floors.
He didn’t buy the house because he liked the floor plan or the manicured lawn. It was completely based on that hill and view. That view caused him to stop negotiating and offer full price on the spot. That is the power of the 80/20 rule.
If you learn how to tap into this rule, you won’t have to settle for less than your asking price.
It Can Even Help Sell Homes Without The Buyer
Even Physically Seeing Them
In some cases, the 80/20 rule even helps people make sales without conducting a showing. This is a huge time saver. I have another real life example of this. In this case, this house languished on the market for months.
Unlike the house in the previous example, it was not ugly. In fact, it was a very nice custom home. As nice as it was, it sat on the market for seven months without any offers.
The seller could not figure out why the house wouldn’t sell. He ended up firing his agent and hiring a new one. This new agent knew the importance of finding that one special feature. He went out and examined the house and lot.
That is when he made the big discovery. The house sat on a gorgeous 5-acre lot. All of the other houses that were being sold in the area sat on lots that were 1-2 acres.
Not only was the lot bigger, but it was also more private than the other lots that were up for sale. The new Realtor marketed the 5-acre lot. He mentioned that the house was nice, but he spent most of his time focused on the lot.
He knew that the house was not the selling point, so he shifted people’s attention to the unique feature. It ended up being snatched up by someone who was relocating to the area. The person had noticed the house for sale in the past, but it hadn’t caught his eye.
That changed when he found out it was on a 5-acre lot. He was suddenly very interested. He was so interested in the home that he made an offer from 1,000 miles away, before he even saw it in person.
He was afraid that someone else would buy it before he did and he would lose out on his dream house. That sale happened in 45 days.
The house had sat on the market for eight months without so much as a nibble, and then it was purchased in 45 days, sight unseen, all because of the 80/20 rule.
By changing the focus, the Realtor was able to generate lots of interest quickly. The house was no longer unsellable. Instead, it was one of the hottest homes on the market.
Selling to Interested Buyers
When you stop creating advertisements that sound like the other houses in your area, you can attract interested people. This is a very simple concept.
When you find something that is unique about your house and you base your advertisement around that one item, it will catch people’s eyes. Those who want that one item will come out to see it in person.
Then, you will stop wasting your time showing your house to people who are not interested. Instead, you will show it to people who are motivated to make a purchase.
That means you won’t have to show it as much and you won’t have to sift through lowball offers.
With that in mind, it is essential that you take the time to find your home’s most attractive and unique features. Compare your home to others that are up for sale in the neighbored and see what makes it stand out.
Potential Unique Features
While each house has its own unique features, I want to go over some ideas to get you started.
- Views are excellent features. For example, your house might sit on top of a hill. Its high vantage point might give it a spectacular view of the surrounding area.
- Maybe your home looks out on an open field that is frequented by wildlife. There are lots of people who would like that view.
- Your house might even have an unobstructed view of the sunset. That would interest lots of potential buyers.
- Patios are another great feature. Maybe the rest of your neighbors don’t have patios, or they do but the patios are smaller than yours. That vital feature could help you sell your home.
- Location is something else that can set your property apart from others. Now, I’m not talking about your location in town. I’m talking about your location compared to the surrounding homes.
I once saw someone pay extra for a townhouse because of its location in the complex. The complex had 200 townhouses on it. Most of them did not have a yard. A few of them shared a large half acre “yard area.”
One of the owners whose townhome backed up to this yard area was able to sell his townhouse for a higher price.
It set his property apart from the others that were on the market, because it was a characteristic shared by maybe 10% of the owners.
He was the only townhome on the market that offered that feature. That made it a very easy sale.
- Another townhome seller (in the same complex) found a different unique feature. He did not have a yard but he was still able to use his location to his advantage. His property backed up to a lake and a fountain. That extra feature helped him sell his townhouse quickly and for a great price.
- You also might have a private location. For instance, your lot might be partially concealed by trees, or you might have an empty lot next to you. You can use this to market your property.
- You might have a unique backyard. If you have a larger backyard than your neighbors, then use that to your advantage.
- A shady backyard can also help you sell your property. Some people like the idea of lounging in the shade.
- A fenced in backyard is also a big selling point. People with kids and pets flock to homes with fenced in backyards.
- You can also look at other features. For instance, a finished basement can help you sell your home. You can also market a large attic, an extra-large garage, a swimming pool, or anything else that makes your home stand out.
Just look for the 20% that is different and find a way to market it. That is how you will get results.
You can’t just throw the information into your listing, though.
You need to go about it in the right way so
you can appeal to your target market.
Having the information you need to advertise your property is an excellent first step. It is just the first step, though. Once you have the information, you need to put it in your listing.
Simply adding it in is not enough. You need to make sure people see it or it will not help you.
It all starts with a picture.
The Picture. When people visit a real estate website, it takes them a split second to decide if they are interested in a property. That is because they see a picture of it. Before they even know it, their brains tell them yes or no.
If their brains tell them yes, they click on the listing. If their brains tell them no, then they move on to the next property.
It is your job to make sure people’s brains say “yes’ when they see your picture. You do that by photographing the unique feature and then using it as the display picture.
Of course, some people won’t be interested after they see your display picture. That is okay. Remember that you only want to appeal to people who will buy your property.
You are just wasting your time if you appeal to people who aren’t interested in your unique features. With that in mind, this will also help you weed out people who are not interested.
That means you won’t have to do showings for people who don’t want to purchase your property.
You also need to focus on your description. Put the one or two special features right at the beginning of the description so people will see them immediately. You can also put them in your headline.
This will help you attract the right people. If you do this, you will notice that the quality of your leads will improve. You will show your home to people who are ready to make a purchase.
You will also get more offers that are close to or at the asking price. While all of this is great news, you still have one more thing you can do to increase your sales
How to turn a negative into a positive
Nothing kills a sale like a big negative does. Fortunately, you can often turn a negative into a positive. Let me go over an example so you can understand how this works.
Let’s say you own a condo that was built ten years ago. You want to sell your condo, but you have some competition from a new complex down the road. This complex is building and selling brand new condos.
The condos are the same but the asking price for the new condos is about $40,000 more than the asking price for your condo. Lots of buyers will snatch up the brand new condos just because they are new.
They don’t think about the fact that in five years, it won’t matter that one condo is five years old and the other is fifteen years old.
The five year old condo will NOT fetch an extra $50,000. When the buyer of the new condo sells it, they will actually lose money because they won’t recoup the extra $40,000 they spent.
They aren’t thinking of that, though.
They are thinking about getting that new condo. That can make it hard to sell your condo. Fortunately, you can educate buyers and get them interested in your condo.
Create an ad with a headline that says, “Don’t buy a new condo in (Complex Name) until you see this house.” Then you could go over all of the reasons why people would benefit from buying used.
The cost is an obvious reason and one you should certainly include. It is far from the only reason though. For example, new houses are typically not as attractive because they don’t have established trees.
Their yards might even still need sod, and they don’t have any plants. That all leads to more work and more money. If you do a good job of explaining this, you can turn your negative into a positive and make the sale.
Now, let’s say you are trying to sell a house in a neighborhood that has not been established. An empty neighborhood can be a negative but you can turn it into a positive by talking about how quiet it is.
For instance, create an ad that explains how peaceful the home is. Some potential buyers will look at this as a huge positive.
These are just two examples. You can turn any negative into a positive by reframing it. Remember, you control your story. It is up to you to get it out there in a positive way.
Now you have the information you need to make the sale. If you follow this system, you can cut down on your showings and speed up the sales process, all while making more money.
Just keep the 80/20 rule in mind during the selling process and you will be successful.
I want to make sure that you receive the things
I promised you in the letter I sent you.
Have you ever seen a newspaper article with a catchy headline that promises to reveal something ground breaking? You read the article and it never gives you the information they promised. That’s annoying, isn’t it?
So, with that, here are all of the things I promised to tell you.
Promise: The simple trick that causes “tough as nails” negotiators to forget about negotiating and gladly pay full price. (I didn’t think this could happen until I witnessed it happen myself.)
Answer: Use the 80/20 rule and find the one or two things that certain buyers really want and are willing to pay more for. Then, highlight those things in the advertising for your home.
Promise #2: The one picture that will make or break whether or not your house sells for top dollar. (It doesn’t matter if you only have 100 pictures in your ad, or just 1. This picture matters more than all the other pictures.)
Answer: Use a picture of your home’s most appealing feature as the primary picture in your advertising.
Promise #3: How to sell your home for more than it’s technically worth. (Appraisers hate this one.)
Answer: Hook the right buyer that really wants your unique feature. Oftentimes that buyer will want the unique feature so bad that they will pay more than fair market value for your home. Appraisers don’t like that.
Promise #4: The one thing you say in the description that will determine whether or not your house sells for top dollar. (If you miss this one thing, then you will be forced to settle for less than you deserve.)
Answer: It’s the 80/20 Rule again. You must put your home’s most attractive feature as the first thing you talk about in the description of your home.
Here is an example. Let’s say you are looking to buy a home You are moving from an area (Fort Lauderdale) that is super flat. None of the homes in Fort Lauderdale are located on top of a hill with a view.
You have always dreamed of having a home on top of a hill with a view.
Which of the two homes below
are you going to look at first?
Home A: Best Hill Top View in the county. If you are looking for a home with a view, then you have got to see this one. It’s like the Smoky Mountains. You can see 15 miles away. Absolutely amazing! Check out the pictures to see what I am talking about. Beautiful home in Brookfield subdivision on large lot. Lots of tile, large 3 car garage, wood burning stove in family room, screened porch with vinyl shutters, ceilings fans in all rooms. Absolutely first class property all the way. New roof 4/3. Newer HVAC(4 ton). Exterior painted with DuraCoat. Newer aluminum garage door and garbage disposal. RE-plumbed w/CPVC.
Home B: Beautiful home in Brookfield subdivision on large lot with incredible view. Lots of tile, large 3 car garage, wood burning stove in family room, screened porch with vinyl shutters, ceilings fans in all rooms. Absolutely first class property all the way. New roof 4/3. Newer HVAC(4 ton). Exterior painted with DuraCoat. Newer aluminum garage door and garbage disposal. RE-plumbed w/CPVC.
One of the letters I sent (or will be sending) to you talks
about a seller that lost $57,500 because of a mistake they
made advertising their home.
This home sold for $422,500. Thirty-two days later, the neighboring home (seven doors down) sold for $480,000.
The homes should have sold for a similar price. In fact, the $422,500 home was 520 Square Feet larger. Both homes had nice in-ground pools. Both were in great shape. Both had nice hardwood floors.
But, this one sold for less because the seller didn’t advertise the view. Notice that the view is barely mentioned in the remarks?
One little mistake. But, it cost the seller $57,500.
Ouch! Be sure you don’t make the same mistake with the marketing for your home!
Well, that’s all folks. Thank you for reading this report. Now, put what you have learned to work and sell your home for more money!
Please contact me if you have any questions or comments.