Book: The Ultimate Seller’s Survival Guide
Changing the Perception of your House’s Value so You Can Sell for What You Want
One of Amazon’s 5-Star Rated Books to Sell Your House
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Chapter 1 Supplement: Good vs. Bad Photos
Research shows that having over 20 high quality photographs will generate 15 times the views on your property’s listing (resulting in faster sales at higher prices). Here are some samples of good vs. bad photos and what makes the good ones so much better.
[Click on each thumbnail for full size version]
HDR
One technique professional photographers use is called High Dynamic Range (HDR for short). Use your favorite internet search engine and you’ll find a variety of definitions. We like this one:
It essentially takes a series of images, each shot with a different exposure from darkest to lightest. HDR combines the best parts of the overexposed, underexposed, and balanced shots to create a dramatic image with beautiful shadowing and highlights.
You can see it in action with the pair of photos above. The one on the left is not HDR. You can see that some of the room is exposed correctly, yet most of it is over exposed due to the light coming from outside. The photo on the right is HDR. Which do you think tells a better story about what this part of the house has to offer? Which would you rather have to market your property.
Backlit
Exterior shots like the one above which are backlit present an interesting challenge. It takes a combination of the right equipment, camera settings, and post-processing work in the studio to NOT end up with the photo on the left and instead have the amazing photo on the right.
Staging and Lighting
As the photo above demonstrates, a good photo (dining room on the right) can tell a much better story than a bad photo. Can you see what a huge difference it makes? All it took was a little thought into how to frame the photo, staging the room, and proper lighting. Wow!
Key Point: When interviewing agents (see Chapter 12 in our book or this article) be sure to ask who they use to take their photos for their listings. Or better yet, just look at their current listings and see for yourself first hand.
Chapter 19 Supplement: Ultimate 57-Point Marketing Plan
We’ve referenced our Ultimate 57-Point Marketing Plan several times throughout the book. This is the plan that all of our sellers get, and is one of the main reasons our sellers bring in about 4% more than the average agent (in about ½ the time). If you’d like a copy, request it here and it will be emailed to you. We want to make sure that it only gets in the hands of potential sellers (not our REALTOR competition).
First Few Pages / Introduction
Preface
Who is this book for? If you’ve tried unsuccessfully to sell your house, this book is for you. This book will teach you what went wrong and how not to repeat the same mistakes next time, whether that’s now, in a month, or in five years.
Why didn’t your house sell? The answer is simple: The market perceived that your house was priced too high. We are not saying it was priced too high. What we are saying, however is that there are plenty of very simple steps that we can take that will positively impact the market’s perception of your house’s value.
This book is also for you if you’re ready to sell your house and want to avoid some of the common pitfalls. There are many misconceptions on selling your house, such as: marketing, pricing, staging, repairs, et cetera; and if you follow the wrong advice, your property can linger on the market for a long time. When your property lingers on the market too long, you end up frustrated, and ultimately, with a lot less cash in your pocket. We would like to help you avoid that unfortunate situation.
How to Use this Book
We suggest that you use this book like a reference manual. Read the table of contents and head to the chapter on your specific area of interest. In each discussion, we will reference different chapters, directing you to relevant information throughout the book. You’ll also find a “Key Takeaways” summary at the end of each chapter and section to make finding key points easier.
Book Profits
We are animal lovers. Not only do we regularly contribute 4% of our profits from each real estate transaction to the Utah no-kill animal shelter of our clients’ choice, we are also donating all proceeds from this book to Utah no-kill animal shelters.
(From left to right: Joel, Indy, Ann & Jersey)
About the Authors
When not assisting clients with their real estate needs, Joel and Ann keep busy with an assortment of pastimes. Joel is passionate about outdoor recreation, like skiing and cycling (road, mountain, and fat biking). Joel is also a licensed private pilot. While Ann cannot keep up with Joel on skis or bikes anymore, she pursues her own interests, including classes at the local gym, dog walks, reading, and various church and community activities. Ann and Joel have been married since 1989 and have had at least one dog most their married life. Their current pets, Jersey and Indy, enjoy hiking, walking, eating, playing Frisbee and as all dogs do, napping.
They are a husband and wife team of REALTORS. They hold Utah Real Estate Sales Licenses with KW Success Keller Williams Realty, South Ogden, Utah. They have personally owned over 170 houses since 2002. That level of ownership experience has afforded them a unique perspective on what it really takes to sell houses for the highest amount and in the fastest time possible.
They quickly learned that 99% of REALTORS take the same three steps in finding a buyer: snap a few photos, put up a yard sign, and list on the MLS (Multiple Listing Service). Then they simply wait for someone else to sell the house for them. Joel & Ann realized that to sell their houses for more money and faster, they needed a different plan, so they began to market their houses off of the MLS, and that marketing plan evolved into their current Ultimate 57-Point Marketing Plan™.
Today, they provide this exact same plan to all of their seller clients, which is part of the reason their sellers are earning, on average, 4% more and selling in about half of the time when compared to working with the average REALTOR.
A large part of that marketing plan is shared in this book.
Table of Contents
Introduction
Case Study #1
Case Study #2
Lesson 1: Lowering the Price May Not Be the Solution
Lesson 2: Three Factors Determine When and How Much It Will Sell For
SECTION I: MARKETING
Section Intro – Selling Your House without Lowering the Price
Chapter 1 – Quality of Marketing
Professional Photos
Aerial Photos and Videos
How the “Primary Photo” can Harm your Final Sales Price
Why Video and What Kind of Video?
Written Descriptions and Pretty Words
Website
Chapter 2 – Targeted Marketing (Directly to the Buyer)
Google/SEO
YouTube Video in Search Results
Google Paid Ads
Final Word About Google Results/Searches
Facebook Paid Ads
Open Houses – The only Time they work for YOU
Frenzied Price Strategy (a.k.a. The Bidding War)
Chapter 3 – Quantity of Marketing (Exposure)
KSL.com Classifieds
Craigslist
Facebook & Google Paid Ads
Organic Facebook Exposure
Google and YouTube Organic Exposure
Other Social Media
Marketing in your Yard
Your REALTOR’S Buyers Database
State-Wide Database
SECTION II: CONDITION/SHOWINGS
Chapter 4 – Preparing Your House to Show
The 1.5 Times Rule
Defining “Staging”
De-Clutter
First Time Prep: 50 Easy Ways to Make Your House Sell Faster (and for More Money)
Photos/Video Prep: Ideas to Prepare for Media Shoots
Last Minute Prep: How to be Ready for Last Minute Showings
Last Minute Prep: How to be Ready for Last Minute Showings
Staging a House with Pets
Virtual Staging
Market it Now or Wait?
Chapter 5 – Get Those Buyers Through and Learn What They Think
How Your REALTOR Helps/Hinders Showings
Feedback
Why Your Agent Shouldn’t Be at Showings
What Happens When You’re Present at Showings
How to Work as a Team with Your REALTOR
SECTION III: THE MARKET
Chapter 6 – What Exactly Is “The Market”?
The Market Doesn’t Care
Inefficient Market
Chapter 7 – Two Big REALTOR Pricing Biases and How to Avoid Them
The Under-Pricing REALTOR Bias
When Under-Pricing May Be a Great Strategy
Recognizing the Under-Pricing REALTOR Bias
The Over-Pricing REALTOR Bias
Recognizing the Over-Pricing REALTOR Bias
How to Avoid the Two Big Realtor Pricing Biases?
Chapter 8 – Pricing: Doing the Research
Seller Pricing Bias (Critical Read!) and How to Avoid It
How to Avoid the Seller Pricing Bias?
Comparative Market Analysis
Selecting the Right Comparables
Sold vs. Currently For Sale
Converting Those Comparables to a Value (The CMA Report)
Get a Listing Appraisal?
Zestimates from Zillow
Chapter 9 – Pricing: Determining the Starting Price
7 Deadly Sins of Over-Pricing
Speed of the Market
The Over-Pricing Urge
Pricing’s Two Schools of Thought
Get This in Your Head – Buyers Aren’t Stupid
Winter Selling Myth
Selecting the Starting Price: Is it a house or a box of aspirin?
Is It Priced Right?
Interest Level
SECTION IV: MUST-KNOW FACTS ABOUT THE REALTOR BUSINESS (AND HOW IT AFFECTS YOUR DECISION MAKING AND BOTTOM LINE)
Chapter 10 – All About REALTORS
How REALTORS Get Paid
The REALTOR Commodity Myth (Even REALTORS Believe It)
The Truth About REALTOR Education
Is Your Agent Better At Selling Himself or at Selling Your House?
Who Is Your REALTOR Working For?
Consultant vs. Sales Person
Pros and Cons of Hiring a Friend/Relative (Frelative)
Team Size Pros & Cons
Does the Brokerage/Brand Really Matter?
Chapter 11 –Alternatives to Full Service Agent
For Sale by Owner (a.k.a. FSBO)
Flat Fee Brokers
Average Agent
“We Buy Houses” Companies / Real Estate Investors
Chapter 12 – How to Interview Agents
General Considerations (for Selling or Buying)
Specific Seller Considerations
History of Previously Unsold Houses Going for Near or Above Price
Biggest Mistake You Can Make When Hiring
Pay Attention During the Interview
How to Avoid Being “Locked Into” a Contractde
How to Avoid Agent/Broker Junk Fees
How to Avoid the Biggest Hidden Junk Fee
SECTION V: NEGOTIATIONS
Chapter 13 – Vetting Your Buyer
What Happens When You Don’t Vet the Buyer
Cash Buyer – Proof of Funds
Pre-Approval vs. Pre-Qualification
Potential Red Flag Language
Chapter 14 – Responding to Offers
Leveraging the Emotional Commitments Buyers Make
A Word About Earnest Money
What Is A Counter Offer?
“Let’s Meet In The Middle”
When Saying “No” is OK
Should You Pay the Buyer’s Loan Costs?
How Much Cash Will You Get at Closing?
Chapter 15 – Negotiation Do’s and Don’ts
Don’t Let Your Ego or Emotions Get in the Way
Do Learn the Buyer’s Motivation
Do Listen Five Times More Than You Talk
Don’t Spill the Beans
Do Leverage Buyers Against Each Other
Don’t Be Pressured
Chapter 16 – Responding to Inspection/Repair Requests
Your Options
What Repairs Should You Do
What Repairs Can You Say “No” To
Leveraging Buyer’s Emotional Attachment
Leveraging The Emotional Commitments Buyers Make
Additional Leverage – Did You Get Multiple Offers?
Chapter 17 – Alternatives to Taking House Off Market with Accepted Offer
Under Contract
Backup
Active with Time Clause
SECTION VI: CONCLUSION/WRAP-UP
ADDITIONAL RESOURCES
Ultimate 57-Point Marketing Plan™
Moving with Pets
Words That Sell and Words That Don’t Sell
Glossary/Common Terms
Links to Our Testimonials
How to Contact Us for an Interview