Shopping for and marketing real estate, as well as viewing, has now moved pretty much online where data is king. And this means that writing up a quick listing description that includes square footage, number of bedrooms and bathrooms, and vague words like “charming” and “cozy” just won’t cut it anymore. Today, you have to market online, and that means using data. So here’s a quick primer on how to use data to sell your house fast in Los Angeles.
Data for Pricing
One of the most important aspects of selling your house is getting the price right. And, really, to price right you simply must use data to sell your house in Los Angeles. You simply have to know what similar, comparable homes in your neighborhood and area have been and are selling for.
Here, according to real estate professionals, is how to use data to price your house in Los Angeles. “Use [one of the reputable online services] to explore comparable houses in your neighborhood. Walk down the street and snap a photo on your phone of homes similar to yours. [The service] will pull up the estimated value, the number of beds and number of baths. A home with the same number of beds and baths and approximate square feet is a house that is comparable or a ‘comp’ to your own. Take note of extras like a pool or updated kitchen that might make the comp more or less valuable. Then use [the service] to bring in as many data points as possible and compute your home value estimate.”
Hot Markets for More Traffic and Better Prices
Another way to use data to sell your house fast in Los Angeles is by using that data to determine when and where markets are hot. If you can determine the best time to sell in your area, you are likely to get more and higher offers. You can, for example, analyze MLS data to determine the best month(s) to sell in your neighborhood, area, and city. Local markets vary widely, so you will need to analyze sales data carefully.
Almost always, home buyers want to know that they are making a good investment, that the home will increase in value over time. It’s a good idea, then, to mine the data so that you can assure potential buyers of your home’s appreciation potential. If you use data to sell your house fast in Los Angeles, you’ll be a step ahead of most of your competitors. You can provide buyers statistical proof that buying your home will be a sound investment, an asset to any buyer.
You can also use data to sell your house in Los Angeles by showing buyers that your house offers income potential. Market analysts are increasingly emphasizing the fact that there is a “huge movement in the rental market today. Investors, moguls, and the average joe homeowners are converting properties into short-term rentals with services like Airbnb.” The income potential is indeed significant. “Homes in San Diego, for example, could earn over $31,000 in profit” yearly. You can use this kind of data to “charm buyers with hard numbers that show your home’s true income potential.”
The Largest Demographic for More Bids
You can also use data to target the largest buying demographic in order to get more bids. The National Association of Realtors compiles data for segments of the home buying market, and you can use this data to craft your listing appropriately. Some areas, for example, have a higher population of millennials, and others a preponderance of retired people. The object, then, is to use this data sell your house in Los Angeles by writing a listing blurb that will appeal to the largest demographic in the area – which can mean more bids and a higher sale price.
Data for the Best Agent
Maybe the best way to use data is in choosing your agent. How quickly you sell your house and for how much depends on the skill and experience of your agent. Your agent has several valuable roles, for example, acting as your partner, your marketer, your advisor, and your negotiator. So be sure and research agent transaction data to find out how quickly they close sales, how many they close, and the difference between the sale price and asking price.
There are all kinds of ways use data to sell your house fast in Los Angeles, but pulling sales figures and performance statistics on the agent you’re considering is definitely one you’ll want to avail yourself of. Selling a house is entirely too large a financial transaction to leave any of it to chance. But where do you begin looking for qualified agents in your area? That’s where we can help. We have the experience and expertise you need!