Sellers, Do You Know Your Competition?

It could be that cute cottage down the street or a ranch with a great backyard in another part of town, but if your house is on the market your home no doubt has some competition. It's important as a seller that buyers have a lot of selection in the market today and buyers are going to be comparing your home to all kinds of others they like. So how does your home stack up?

OSA - neighborhood activity_1Know your competition. Ask your REALTOR to send you a report of price reductions or status changes for comparable properties. We have a tool called Online Seller Advantage that homes listed with us get on a weekly basis with the rundown of what's going on with competitive listings. When you know your competition you can make sure your house stays competitive and doesn't fall behind on potential buyers list.

Play up your strengths. What does your home have that theirs doesn't? Talk to your REALTOR about your homes strengths compared to what else is on the market and make sure to play those up in your photos and descriptions online. Try to remember what you liked about your house compared to others you looked at when you were buying, what made it stand out from the rest.

Make sure your price is right. You don't want your house to be priced too high compared to the competition. This is something you and your REALTOR need to keep an eye on every step of the way because as new properties come on the market the competition is always changing – make sure your home is priced right for the market today and be aggressive.

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