In an ever-changing housing market, sellers must consider and develop strategies that fit their needs. Realtor Grace Frank is out to help them do just that. According to the seasoned real estate professional, pricing, finding the ideal target market and using professional photography to showcase the property are among the top five strategies sellers need to consider when listing their homes.
"Overpricing will damage the ability to get it sold while it is fresh, while underpricing will leave money on the table that could be used for their next property purchase," Frank explained.
"It is an art to price a property correctly, and most sellers do not understand why selecting their target market buyers is key."
Pricing correctly allows sellers to properly stage, market and reach the best buyer, the other key strategies sellers need to consider, she said. "It's like casting a net," said Frank, who works with stagers on clients' home and sets up clean landscaping according to the season before having its best face captured with professional photos. "A picture is worth a thousand words," she said. "The best method I have found is to show [clients] live case studies of properties that have used these key components and the results they have achieved versus those sellers that have not and what happens to their property in terms of results."
Frank's formula is successful - her listings typically sell 20 percent faster and get the best price with the highest perceived value, she said. She always works with her staff to move each listing to the next level, added Frank. From evaluating the price of a property to presenting weekly reports to her sellers and getting them through negotiations at the closing table, she describes herself as a systems person who works to the highest rate of success.
"We really manage it like a marketing campaign," said Frank, who holds an MBA in marketing and strives to find creative successful solutions for her sellers. "For me a challenge is an opportunity, and I find it fascinating. Researching what a new regulation means or how to create a new method of tackling he problem is key, and I believe Chattanooga is a great market and the next several years will be fantastic."
While Frank knows the keys to creating successful campaigns are finding the right price, having great visuals and incredible exposure of each listing in print media and on the Internet, even more important is giving it your all.
"If your heart is not in it or you lack the resources to achieve the results that are key, then you limit the success," said Frank, who has a true passion for the service she provides and for helping others. "Once a seller understands the key elements that allow them to achieve success, they demand the individuals they hire to represent them have those skill sets."
Educating sellers provides them with the power to make wise choices, which in real estate is one of the most valuable assets individuals can have, she added.