The Best Advice
W
hen considering a real estate transaction, sellers have much to consider. Who’s the best broker to sell your home? When is the best time to put a home on the market? How important is putting a sign on a property? Where should a property be advertised? The list of important questions is long.
Here is our best advice: What isn’t debatable is which are the most important steps to take in order to realize the best sale possible. With decades of experience and well over a half billion dollars in closed transactions in the Santa Fe market, we have the knowledge and experience to guide you in this. Put your house in order (literally): Put your property in the best possible condition. If you have any deferred maintenance, get it done. If you need help determining what maintenance is necessary, hire a qualified home inspector. His inspection report will provide a punch list that will identify and help prioritize what maintenance is most critical. We can help you with this important process. Staging your home for the best possible presentation: Preparing your home for the market includes not only dealing with repairs and maintenance, but setting it up to show well. Staging can be very valuable to a seller in this regard. Staging can run the gamut from completely furnishing a vacant house to working with the furnishings present. Can staging improve how well your property looks to prospective buyers? More often than not, the answer is yes, and the seller should evaluate this critical option thoroughly with his broker. Determining the most effective asking price: What will assure the best possible sale? The right pricing tops the list. Setting the right price on day one is crucial. In the first days after a home
is placed on the market, buyers expect to pay more. In today’s market, the longer it takes to sell a home, the lower an offer is likely to be. Priced accurately, there should be prompt attention for your property. A price that is too high won’t generate the same reaction. Even for those properties in the greatest demand, the asking price matters. It matters a lot. Setting the most effective asking price is based upon evaluation of the current and relevant data on sold properties and active listings that are competitive to yours. It is critical to include homes that are currently under contract in this analysis to provide a perspective on what is currently most attractive to buyers in the market. A key determinant of value is the general condition of the market. What do the experts say about the direction of the market? What is the supply & demand situation now? Is the local economy strong and solid? Any “storm clouds” on the horizon, possibly changing the local market or economy in some significant way? Owners who focus on having the best sale possible are looking realistically at current and relevant data and assessing the condition of the market. Those who are looking at their costs or are focused on their desired sale price are setting up roadblocks to the best possible sale. What isn’t important when determining the most effective asking price is what you paid for your property, what you paid recently for repairs or maintenance, or what you want to “net” from the sale. neillyon.com
Letting the world know your home is available: Look carefully at the marketing plan proposed by the broker(s) you are considering. What are the guiding principles behind the design and execution of their marketing approach? What resources do they have to effectively expose and show your property? What is their capacity to promote your property to the world in an effective manner? Santa Fe home buyers come from many different areas. We know exactly from where, because we carefully track this information. We know which states generate the most buyers and which states generate the buyers of the more expensive properties. Even though a relatively small percentage of Santa Fe buyers come from outside the US, we execute a global marketing and advertising strategy that reaches everyone interested in Santa Fe homes, regardless of where they are. Our global reach provides easy access to complete and compelling information about the homes we have available. Capitalizing on each showing: Don’t overlook the importance of your broker attending each showing to present your home to prospective buyers in its best possible light. Make sure your home gets the advocacy it deserves, to convey all the important facts about the home thoroughly and accurately.
The Best Advice
Have the talent at the key moment: Work with a broker who is skilled in the art of negotiations. How would you know if this is the case? Find out how many successful negotiations your possible broker has had. If they’ve closed 50 sales in 2 or 3 years of being in the business, that’s very different than 50 sales in 10 years of being in business. If they have closed over 500 sales, that broker clearly knows how to get transactions closed and is clear evidence of that broker’s negotiation skills. Also assess how clearly and effectively your possible broker communicates. This is the person who will be representing you and your property to the world. Listen carefully to assess how strong an advocate you will have in your corner.
NEIL LYON, CRB, CRS, GRI FOUNDER
505 660-8600 cell 505 954-5505 office neil@neillyon.com MATT DESMOND ASSOCIATE BROKER
505 670-1289 cell matt@neillyon.com NINA FARANA OPERATIONS MANAGER
505 954-5522 nina @neillyon.com DONALD BURG MARKETING AND DESIGN DIRECTOR
505 988-2533 donald@neillyon.com
Have the resources at your disposal: To navigate the complex and demanding nature of transactions demands a team effort. These days, behind every experienced and successful broker is a contingent of qualified and dedicated professionals skilled in all the various aspects of listing, marketing and transacting the purchase of your home. In a team context, multiple brokers are always at hand and your home is insured consistent and comprehensive coverage. It should be a priority to entrust your property to the advantages of a highly skilled group of real estate professionals.
CINDY LYON ASSOCIATE BROKER
505 660-8400 cindy@neillyon.com
SANTA FE BROKERAGE
326 Grant Avenue Santa Fe, NM 87501 505 988-2533 sothebyshomes.com
Don’t leave the outcome of the sale of your home to chance. The art of selling a home involves a delicate balance of many critical factors. Being savvy to the points above assure the success of your sale. Ask the right questions, make the best and most informed decisions, and feel confident that you have all the advantages of the best advice working for you. neillyon.com
OCTOBER 2020