Why You Should Spy On Competing Homes For Sale

Position your home to sell, not sit. 

Big brands spend thousands of dollars making sure you’ll pick their cereal or sauce off the shelf even though it’s sitting next to dozens of others. In marketing it’s called brand positioning and applying the same principles when selling your home gives you a huge advantage.

This exercise will help you get a picture of the market but more importantly it’s a tool we use to position your home so it sells first over your competition. By studying the photos, description, and price of competing listings, we can make sure your photos, description, and price look more attractive “on the shelf” next to the other listings they’ll be grouped with online. 

Taking a look at the competing homes on the market is a great way to learn how you should position yours to sell faster and for more money.

3 Things you should know about every home you’re competing against on the market. 

Start by reverse engineering a search that would show competing homes. Searching for homes with similar price, location, sq footage and other amenities gives you a quick idea of what shoppers are going to compare your home against when they look online. 

1. Study the Photos

Browse through the photos and take note of the features. Look at the finishes, types of floors, countertops, natural light etc.. Taking account of this things will give you a better understanding on how to position your homes features in comparison. 

2. Study the Description 

Reading competing listing descriptions can give you a good idea of what you need to include in your description. It’s also an opportunity take note of what isn’t mentioned. If all of the competing listings describe something the same way, it’s an opportunity to highlight it differently. 

3. Study the Price

As you are looking at the photos and descriptions of the listing take note of the prices. As buyers shop they will be comparing features against the price. Knowing where you fall in light of competing listings can give you more confidence that you are asking top dollar. 

For example if there are two other homes in the same area with similar floor plans, features and finishes, you may want to price your home similarly, or even a little lower if you want to be competitive. Pricing it higher than those similar listings will most likely result in home shoppers looking at your competitors first. 

Alternatively, if you have more to offer than your competing homes for sale, you can certainly command a higher price. 

Before you go…

If you are interesting in learning more about how to sell your home quickly and for the most money. You should download our SnapSelling System pdf guide and video training

You’ll learn the strategy 23 Lafayette home owners recently used to sell their homes in less than 30 days without slashing the price, or over paying in Realtor Fees! 

Download it here.