Getting Sold with George Sutherland
George Sutherland, understands the art of selling well and has the experience to prove it. Here he describes getting a Galleria townhome to stand out and get sold in only 17 days with multiple offers.
George Sutherland, Greenwood King Properties
“With buyers, its 50% wanting to know the home’s worth; the other 50% is falling in love.”
When you introduce a new listing to the market it must present itself well and be priced competitively. Buyers and their agents have studied the market and possibly have made prior offers on other properties.
Price: The Sweet Spot
Determining the “sweet spot” of price for a particular property requires analysis, experience, judgement and some luck always helps.
The market will give you your report card on how well you’ve done in the first 2 weeks by the number of showings and offers you receive.
With Nantucket there were as many comps on the market as there were sales over the last year, so I presented Seller with that information. In view of that, the Seller agreed to price a bit below the comps and to stage the property so it would present well.
I attribute the quick sale at Nantucket to condition + price + staging + amenities. (brick structure, patio, hardwood floors up & down, gracious room sizes)
Convincing a seller to stage varies Seller by Seller- some are very accepting of recommendations. Some are less so. It depends upon their personality. Usually I present it as an option that will be rewarded with a higher sales price and a quicker sale.
Why staged homes sell faster:
1) An empty house has a “left behind” look and is lacking warmth.
2) A staged house is better for getting a perspective of room size, proportion and how one could live in the house.
There were multiple similar properties on the market so we differentiated this property with tasteful staging, quality photography and of course price. It was the beginning of the year and showings were slow the first 4 days, but then we had a well-attended open house and several showings.
Buyers spent about 30 minutes and some did a double look. Some sat down and had a chat about the house.
The open house and showings resulted in 3 offers; an offer is the best feedback you can get.
The Buyer was moving from California so her agent came in and face-timed with her. Her agent also brought some Houston family through to get their opinions.
The Seller decided to accept the highest offer (which was cash) plus a prompt close and move in. The Buyer’s agent, Erin Meadows, coordinated and cooperated very well to get the offer negotiated, earnest and option fees wire-transferred to title company, inspections scheduled promptly, new survey conducted and the title search…. all within the 10 day option period.
That kind of synergy takes both agents working together.
You are a top producing agent who’s eye for analysis gets you rave reviews- what makes you so good at what you do?
That’s very flattering, thank you. The answer is:
a.) my prior career background in oil trading which required a lot of technical analysis to make correct decisions between numerous choices andb.) my natural inclination to seek best value. I have Scot heritage so perhaps it’s in my DNA.