The Biggest Change In Selling A Home Since The Printing Press Was Invented

The Biggest Change In Selling A Home Since The Printing Press Was InventedHere we sit in the most lopsided sellers' market ever on record, yet many home sellers are leaving money on the table when they sell their homes.

Can you imagine it? For every home listed for sale, there are probably 5 or more buyers who would like to bid on the home. Even with this intense interest, there is an unhealthy percentage of home sellers who are not getting top dollar for their homes. They are leaving thousands and often, tens of thousands of dollars behind that very rightly should have been theirs.

Perhaps for a few home sellers, it does not matter. But my experience has taught me that homeowners typically want 100% of their equity when they sell, so today I'm going to share a huge change in the home selling process that most sellers do not understand (nor do most of their agents).

This is a short article about what you need to know before selling a home. As we get started, I am going to make you one simple promise. If you stick with me through the end, I promise you will be confident that you’ll put an extra 5% to 10% of your home’s equity into your pocket because of what you have learned here.

This is not rocket science, but the optimal way to sell your home has greatly changed, but most real estate agents are NOT doing what is needed to squeeze every last dime from the sale of a home. Even as home sellers are bragging that they had multiple offers on their homes or that they received "above their asking prices," I can tell you that many are not getting all of their equity from the sale.

Most Important Factor In Getting Top Dollar For A Home

Whether you were selling a home in 1920, 1950, 1985, or selling today in 2022, the most important factor in getting top dollar for a home is bringing the most qualified buyers to the home at roughly the same time. A home seller must create a competitive environment for the home. There will be a buyer who is willing to pay the most money for the home, but that buyer MUST know that many other buyers want the home.

This is why we tell sellers that two buyers are better than one. Three buyers are better than two. Ten buyers are better than five. Etc. It is the knowledge that a property is highly desired that creates the extra value that serves to motivate the buyer who most wants the home to pay above and beyond what he or she might have been willing to pay had no other competition been identified.

With that being said, the way that we create competition among buyers is significantly different today than it was in the past. To best understand how the home selling process has changed, I want to share how we used to sell a home (which is how most agents go about selling a home today).

How Homes Used To Be Sold

In order to get a good feel for why things are so different today let's quickly review how we used to sell a home before digital was part of the solution. That's right, the first major change in selling a home since the printing press was invented is the internet.

Before there was the Internet, before email, cell phones, digital cameras, and social media, everything we did in marketing had a time element attached to it. When we took pictures of a home, we had to send the film out to be developed. Once developed, we brought them to our marketing staff to select the best shots, and then we had to submit them to different marketing channels.

We had the MLS, a printed book that was produced monthly so that buyers could go to real estate offices to read about which homes in the area were listed for sale. One must remember that printing was performed on a production schedule, so if we missed the submission date, it might be another 30 days before we could even get a home listed in the MLS.

The same thing is true with the real estate magazines and all the other publications that required a paper submission with pictures. It took time, overall it took about 60 days for us to process a home listing and get it in front of the majority of the market.

That's why in the good old days we told sellers there was a "market time" of about 60 days because we had a lot of work to do to reach everybody who might want the home. Remember, our goal was to get the home in front of all ready buyers at roughly the same time in order to get the seller the most money possible.

The dilemma back then was making sure all buyers got wind of a home at the same time. Word of mouth among friends as well as the "for sale" sign in the yard alerted the most-ready buyers. With printing processes and production schedules adding months to reach the rest of the pool of prospective buyers, we were forced to hide the home from people who would discover it without printed marketing.

We didn't want to hit the market and only let the one or two people that discovered it on the street know that the home was for sale at a fair price, so we priced it high with the idea that we wait for the full marketing channels to come around and then we lower the price until it sold.

We knew if we asked for a price well above its fair market value, none of the early buyers would be concerned about losing the home. They would wait for price reductions. So we would market a home above its fair market value until the majority of marketing channels were active.

When the MLS books were delivered, the ads in the newspapers and magazines were finally published, we then lowered the asking price to its fair market value and that got the majority in the pool of buyers excited and active for the home. In many cases, we would do a price reduction and then get multiple offers on the home because we had many eyes monitoring the home.

IMPORTANT POINT: The old price-it-high-then-lower-your-price model for selling a home was effective for more than 100 years, but its use today is an important reason why home sellers are not getting all of their equity from their homes, even during today's historic sellers' market. A modern approach is needed to get top dollar today!

Keep Up With New Trends In Tallahassee!

Get The Tallahassee Real Estate Newsletter

Subscribe to the Tallahassee Real Estate Newsletter for updates on home sales in Tallahassee, FloridaDon't be the one that doesn't know what's going on when you sell a home or buy a home in Tallahassee.

Other buyers, sellers, lenders, and real estate agents have this critical information, and now you can too!

Get immediate access to our most recent newsletter.

Let more than 30 years of experience work for you with charts, graphs, and analysis of the Tallahassee housing market.

What Most Home Sellers Are Missing Today

Today, the top digital marketers can reach 95% of the market for a home in a matter of hours or a few days at most, so modern marketing requires a completely different process. There is no "market time" any longer, we can take a listing to the market with our cell phone sitting in the home.

The concept of market time is in the past, and not merely because we're in a seller's market. I've covered the death of "market time" in detail in numerous past posts, but suffice it to say, agents who quote statistics on market time are still using a printing press mentality to sell their listings and should be avoided when it comes time to interview agents for the job of selling your home.

Remember, the primary objective today is the same as it was in the past, which is to get top dollar for the home by optimizing competition for the home. Marketing efforts must work to ensure all the competition arrives simultaneously to a listing so that the buyer who wants the home the most feels the pressure from all the other buyers.

Attract The Most Buyers To A Home Simultaneously

Most real estate marketing plans today are evolved from effective ones from the past. Instead of listing a home and then running ads in a newspaper, agents list the home and put the listing in the MLS so that the home is syndicated to hundreds of websites (Like Zillow, Trulia, Realtor.com, etc.). Some make social media posts about a "Just Listed" home. Or maybe they send an email blast telling all real estate agents in the area that a new listing is available. Regardless of the process, they start the marketing of the home by putting it in the MLS and trying to get the word out.

Unfortunately, this is a flawed process. It fails to deliver all buyers at the same time, and thus it leaves many people who would have bid on the home out of "the know" until it is too late.

I characterize this type of marketing as "Ambush Marketing" or "Surprise Marketing." People who are in the market to buy a home are ambushed. With no lead time at all, they find out a home is for sale and they need to drop everything to go see it and to find out if it is already taken. Usually, it is. Usually, the real estate agent works out a deal with the first person who found out about the home (often from the sign). So instead of generating two, three, five, or ten buyers, the seller is forced to negotiate with the only one that knows it is available. This is costly to the seller!

Pre-Marketing Puts Buyers On Notice

Why make it so difficult for a buyer to bid on a home? We spend weeks pre-marketing our listings so that buyers know the date and time that a home will hit the market. We want MORE buyers bidding on the home, not fewer! It ends up causing more work for us, but it ensures that our home sellers get the most active audience and the most bids for their homes.

The fact is that we spend more money pre-marketing our listings than most agents earn in a year, and we do it because we have found out that it works. We do not price it high and see what happens, we price it aggressively and thus often sell our listings above the asking price and for more than our sellers anticipated getting.

We ensure that all of our listings get pre-marketed through our "coming soon" process which notifies thousands of buyers that the home will soon be available. You can check-out our coming-soon website where each coming soon listing is shown with a countdown timer alerting visitors for when the home will be available.

Choose The Agent That Will Get You The Most Money

Old marketing plans are costing home sellers a lot of money, but most sellers have themselves to blame for the losses. Had they put a little more effort into choosing the right listing agent, they probably would have fared much better.

If you are getting ready to sell, go online and see who is pre-marketing homes. One simple way is to visit this site and then search for your market area or favored zip code. You should also go to google and search for real estate agents in your area. Look to see who has the support and backing from their past customers. They will have hundreds or thousands of five-star reviews. Start with them.

When I started this post, I promised those who made it to the end the confidence of a newfound understanding of the home selling process which would put 5% to 10% extra in their pockets. I'm hoping you feel that way now.

Go out and hire the right agent, ensure that your home is pre-marketed for at least two weeks, and then work those buyers against one another until you have bid up the best contract for your bottom line.

6 Tips For Selling A Home In 2022
This ain't your grandpa's real estate market, the process for selling a home and getting top dollar have changed so much. It starts with knowing the best way to sell your house. There are home selling tips and tricks you can use.
Selling A Home In A Strong Sellers Market | AVOID This MISTAKE!
If you are getting ready to sell a home, you must avoid making a horrible mistake that I'm seeing every single day. As we continue in the midst of the strongest seller's market on record, one might assume that a home seller can do no wrong.
7 Critical Stages In Selling Your Home
The process for selling a home has changed greatly since the world went digital, but now after a historic sellers' market, today's home selling plan requires adjustments compared to the last few years.
How To Use Price Per Square Foot When Valuing A Home
Price per square foot is a measurement of a home's value, but the price per square foot alone is not an effective way to determine the price a home will sell in today's housing market.
Biggest Change In Selling A Home Since The Printing Press
Here is the biggest change in selling a home since the printing press was invented. Looking for selling a home process? This is the must-do process to sell a home.
Selling A Home In 2022? The Most Important Question You Must Ask
There is one singular issue that stands above all others when selling a home in a strong sellers' market. In this video, I walk you through the question and best answer to the most important question you should ask when selling a home.
Get More Money For Your Home
In order to understand how to get more money from a house sale, one must learn about the neighborhood stalker.
Real Estate Negotiation Strategies For Each Market Condition
If you mishandle the negotiation on a home, several things will possibly happen, and all of them are bad. First and foremost, you’ll leave money on the table through either the sales price or the terms that are negotiated. Today, buyers are losing out on homes they want to buy and it’s often due to poor positioning in the negotiation. And while we are in the midst of a historic sellers’ market, I’m seeing sellers leave money on the table even when they have multiple offers! #realestatenegotiation #homenegot
Home Selling Tip: Don't Price Your Home On The 9s!
One of the most important steps in your marketing strategy when selling a home is setting the initial asking price for the home. While I have discussed this in previous videos, today I’m going to discuss a technique that I refer to as pricing on the 9s. It works to reduce the buyer pool for the home seller and reduce’s the seller’s chances of getting top dollar for the home. It is a terrible tactic and works against the seller. If you watch this short video, you’ll understand exactly why it hurts home selle
How Much Margin For Negotiation Should I Include In My Asking Price?
I was recently asked "How much margin for negotiation should I include in my asking price?" This is a common question from experienced home sellers. They have sold homes in the past and understand the negotiation process involves a game of give and take, so doesn’t it make good sense to start with a little wiggle room in your price so that you can give it to the buyer to secure a sale? Here's what you should know. I explain EXACTLY how much margin for negotiation you should add to the price of your home t
10 Home Inspection Issues And Tips
Moving from one home to another has enough stress and chaos built into the entire affair, and the home inspection is often the biggest stressor. Here's how to avoid home inspection stress!
Home Staging Advice For Sellers
Do you wonder how to net more money selling your home? This is one of my top home selling tips. Today's video is everything you need to know about staging your home in order to NET the most money from your sale. ?? Here's a link to our FREE Home Sellers Checklist mentioned in the video: https://www.tallahasseechecklist.com/home-seller-checklist-downloadzh61xghm
What Does A Transaction Coordinator Do?
When you are selling a home or buying a home, a critical member of your support team is your transaction coordinator. Here's what to expect!
Real Estate Appraisal Versus Fair Market Value Of A Home?
What is the difference between a real estate appraisal and the fair market value of a home? If there is one practice that confounds both home buyers and home sellers alike it's the fact that the majority of real estate transactions close at the mercy of an appraisal conducted for a purpose that most consumers do not consider. Understanding these differences will save you money when it comes to buying or selling a home, and it will help you appreciate the need and value of a real estate appraisal. But here’s
First Right Of Refusal Meaning Explained
What is a right of first refusal? What does first right of refusal mean when dealing with a real estate contract? Accepting real estate contingencies without understanding them often causes home sellers problems. I have shared a real-world example of how we handled a first right of refusal real estate contract negotiation, and the decision-making process used to put the home seller in the best situation possible. Pay close attention to this short video and you’ll have a better understanding of the right to
Why It's Alway About Supply And Demand In Real Estate
It's all about supply and demand. The real estate supply and demand dynamic tells us everything we need to know to forecast home sales in any given area.
How To Sell A Home That Needs Repairs
How To Sell A Home That Needs Repairs - If you want to know how to sell a fixer upper house fast, then there are some fundamentals of selling a fixer-upper that you should understand. Ideally, in real estate sales, when selling a home, you should bring a house to market-condition before you sell your house fast in order to attain top dollar during the sale. But ideal situations are not always possible. If you follow the tips and advice in this video, you will know how to sell a fixer-upper house fast and in
What Is Pre Marketing In Real Estate When Selling A Home?
What is pre-marketing in real estate when selling a home? When your home hits the market and it "goes live," how many buyers will be standing in line to get in? Will it look like an Apple store on the day the new iPhone is released? If not, why not? ... it's all in the video ??????
What Is A Seller's Market In Real Estate?
You might have heard that we have a huge seller’s market right now in real estate. Do you know what that means? This real estate frequently asked question comes up from time to time when somebody is buying a home or selling a home. They want to know if its a buyer’s market or a seller’s market. Is now a good time to buy a home in the Tallahassee real estate market? I have prepared this short video to demonstrate the conditions that make this a seller’s market, and then we’ll show you the numbers and how we
How Digital Has Changed How We Sell A Home Today
Time to sell a home? The digital age has had a huge impact on what homeowners must do to get top dollar when selling their home. In this video, Joe Manausa explains why and how things have changed, and then lays out the plan for what home sellers must do.
5 Ways To Handle The House In A Divorce
If there is one thing that I see divorcing couples doing wrong more often than not, it is the decision on how to handle the house where the couple has lived. While I am not a lawyer and I'm not dispensing legal advice, take it from somebody who has helped hundreds of divorcing couples, there is a right way (and FOUR wrong ways) to handle the house in a divorce. Tell your attorney that you want to do it right!
Four Smart Ways To Use A Real Estate Contract Assignment
Contract assignability allows buyers to give or sell their rights to another buyer, and that creates opportunity. Tune in to discover four reasons to assign a real estate contract (including contract assignment profits)
Ugly Real Estate Listing Pictures | Real Estate Photography Tips
I’ve got some funny, ugly real estate listing pictures to share with you today, along with some simple real estate photography tips. Take a humorous look at some of the WORST pictures I have seen used when marketing a home ... not the way to sell your house!
How Long Does It Take To Sell A Home In 2021?
How long does it take a home to sell in 2021? I've been asked this question a lot recently, and it made me realize a full explanation was in order. Why? Because if you understood how to sell a home for top dollar, you would know that it is a trick question. Trust me on this. Invest the few minutes it takes to watch the video and you'll have a better understanding of selling a home than do most people in the real estate industry (and I'll prove it!).
What Is A Swimming Pool Worth?
What Is A Swimming Pool Worth? Recently, a customer buying a home asked me a simple question. She inquired “how much does a pool add to the value of a home?” Pretty simple question, right? Well, by the end of this short video, you’ll know the not-so-simple answer (and why this is so important).
Real Estate Is Local - What This Means!
If you plan on buying a home, or selling a home, you’ll want to understand the local nature of real estate and use it to your advantage.

Your Local Expert In Tallahassee

When moving to, in, or from Tallahassee, you will fare better if you work with a local expert. We are here to help. If you have further questions on the Tallahassee real estate market, you can leave a comment below, give us a call at (850) 366-8917, or drop us a note and we'll give you the local information needed to ensure a successful, smooth transaction.

As a local born and raised in Tallahassee with a focus on customer service, I promise you'll find great success when working with Joe Manausa Real Estate, just as have our past customers. You can read thousands of their reviews reported on Google, Facebook and Zillow right here: Real Estate Agent Reviews Tallahassee.

The digital marketing guide for small businessesHave you heard about my new book "The Business of Getting Business?" It's a comprehensive guide for small businesses to help them make the move to digital. For those of us who want to survive and thrive in a world where large corporations are taking over, it is a must-read. It's also the perfect guide for how to sell a home in the digital age. You can find The Business Of Getting Business by clicking on any of the trusted retailers below.

Real Estate Agent reveals in Tallahassee, Florida

Think all REALTORS are alike?

Read what people are saying about working with Joe Manausa Real Estate! You can see thousands of real customer reviews reported on Google, Facebook and Zillow at this link: CLICK HERE FOR REAL ESTATE AGENT REVIEWS.

Post a Comment

(850) 366-8917