Can a used house compete effectively against new construction?
In some boom markets, the well-orchestrated efforts of new-home developments can make selling a "used" home seem impossible. But you can direct your own award-winning performance, and truly compete in the home-selling business.
A successful builder designs homes and decorates models with specific "profile families" in mind. Every detail of a model home from the name of the style to the decor of each room is calculated to emotionally grab families who resemble the profiled family. "This is us!" the prospective buyers should say to themselves as they tour the home.
Then the builder arms a professional sales staff with a variety of easy mortgage plans, making possible an on-the-spot home sale.
New Isn't Everything
To compete with this professional plan, "used" home sellers need a professional plan of their own. Work with your agent to:
- Target prospective buyers.
Decide who would be a likely buyer for your home and make sure your home is appealing to most any buyer but especially to the "profile family." Of course, you'll welcome an offer from any prospective buyer.
- Apply elbow grease.
Make your home shine like new, inside and out.
- Put best foot forward.
Ensure prospective buyers learn about your home's upgrades and unique features as well as the neighborhood amenities.
- Research competition.
Research the competing new homes and the builder's incentives, and offer to assist the buyer with points or other closing costs, as needed.
- Provide a warranty.
Buy a one-year major systems warranty.
- Price realistically.
Price the home to sell.
Remember, mature resale neighborhoods and properties have their own unique appeal. New isn't everything. Set the stage, and get ready to yell, "Action!"