How Do I Sell My Tri-Cities Home When Buyers Have So Many Other Homes to Choose From?
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How Do I Sell My Tri-Cities Home When Buyers Have So Many Other Homes to Choose From?
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If you're thinking about selling your home in the Tri-Cities right now, there's something worth understanding before we ever put a sign in the yard.
Buyers have choices.
That doesn't mean buyers aren't buying homes. It means they're able to compare your home with more options before deciding which ones they want to see and which one they eventually want to buy.
I'm Kim Feliciano, a REALTOR® in the Tri-Cities helping buyers and sellers in Richland, Kennewick, Pasco, West Richland and Benton City.
When buyers have more choices, selling isn't just about putting your house on the market and waiting.
It's about positioning your house so the right buyer has a reason to choose it.
When buyers have ten houses they could choose from, my job isn't to convince you yours is automatically the best one. My job is to figure out why a buyer would choose yours over the other nine.
What Does More Inventory Mean for Tri-Cities Sellers?
More inventory means more competition for buyer attention.
Think about what a buyer might do before scheduling a showing.
They pull up homes in their price range and start comparing.
Your house might be sitting next to three similar homes in your neighborhood, two homes across town, an updated property and a brand-new home offering builder incentives.
Maybe they save five.
Then they schedule three showings.
Your first job is getting onto that list.
Your next job is giving them a reason to keep your house on it once they walk through the door.
Buyers Are Comparing Homes Side by Side
As a seller, it's natural to focus on your own house.
Buyers don't look at it that way.
They're comparing your kitchen with another kitchen. Your backyard with another backyard. Your monthly payment with another monthly payment.
They're looking at condition, location, lot size, upgrades, floor plan, price and sometimes seller terms.
They're asking a pretty simple question:
Which house makes the most sense for me?
That's the competition.
Your Competition Isn't Necessarily the House Next Door
You may think your competition is another house in your subdivision.
The buyer may be looking much broader.
Someone considering your Richland home might also be looking in West Richland or Kennewick. A buyer looking in Pasco might also be comparing new construction nearby.
Buyers don't always organize their search the same way sellers think they do.
That's why I want to understand what else your likely buyer can purchase within the same general budget.
Sold Homes Matter, but So Do the Homes for Sale Right Now
Comparable sales are important.
Before becoming a REALTOR®, I worked in mass appraisal, so looking at property characteristics and market data comes naturally to me.
Sold properties help us understand what buyers have recently paid.
But when I'm preparing your home for the market, I also want to look at what's available right now.
Those are the properties sitting next to yours when a buyer searches online.
Suppose the recent sales support our pricing range, but there are five similar homes currently available.
One has a newer kitchen.
Another has a three-car garage.
One is offering buyer concessions.
Another just reduced its price.
And there's new construction nearby.
I want to know all of that before we launch.
The sold properties help us understand where the market has been.
The active properties help us understand what your buyer can choose today.
Price Gets You Into the Conversation
Pricing matters, but price isn't the entire strategy.
If buyers are searching up to a certain amount and your house is priced outside that range, you may never make it onto their screen.
But getting onto their screen doesn't mean they'll choose your house.
Now the property has to compete.
That's why I don't like discussing price without also looking at condition, presentation, competition and buyer behavior.
What Can a Buyer Purchase for the Same Money?
This is one of the questions I want sellers thinking about.
Let's say we're considering a list price of $500,000.
I don't only want to know what recently sold around $500,000.
I also want to know:
What can a buyer purchase for $500,000 today?
Maybe they can get a newer house.
Maybe they can get a larger lot.
Maybe your home has a better location for what they want.
Maybe another property is updated but yours has features it doesn't.
That's the comparison buyers are making.
Condition Matters More When Buyers Have Choices
More choices make it easier for buyers to notice differences between properties.
That doesn't mean your house needs to be remodeled.
I've sold homes with older kitchens and bathrooms.
One of my Richland listings had an older kitchen and bathrooms, but the sellers had meticulously maintained the property.
That's different from a house with obvious deferred maintenance.
Updated and well maintained aren't the same thing.
Buyers can understand an older home that's been cared for.
The key is positioning it appropriately against the alternatives.
Don't Start Remodeling Just Because There's Competition
More inventory doesn't mean you should suddenly spend $50,000 remodeling your house.
Before spending money, I want to ask:
Will this increase the likelihood of selling the property or meaningfully improve our position?
Sometimes cleaning is enough.
Sometimes paint helps.
Sometimes a repair deserves attention.
Sometimes flooring is worth discussing.
Other times, the better decision may be to sell the house in its current condition and price it accordingly.
I don't want you spending money just because you're nervous about the competition.
Your First Showing Usually Happens Online
Before a buyer schedules an appointment, they're probably looking at your house online.
They're swiping through photographs.
Looking at the kitchen.
Checking the backyard.
Trying to understand the rooms.
Comparing your house with several others.
That means we're competing before the buyer ever reaches your driveway.
Professional Photography Is Part of My Listing Service
I use professional photography on my listings.
Every time.
Depending on the property, I may also use video, drone photography, estimated boundary outlines, 3D tours, floor plans and measurements.
Different properties need different marketing tools.
The purpose is the same.
I want the right buyer to see the house online and think:
I want to see this one.
Marketing Can't Fix Everything
Good marketing gets attention.
It doesn't make an overpriced house appropriately priced.
Professional photographs can make a buyer interested enough to schedule a showing, but they can't erase deferred maintenance once that buyer walks through the door.
Advertising creates visibility.
It can't force somebody to choose your house.
That's why pricing, condition, presentation and marketing need to work together.
Make Your House Reasonably Easy to See
If buyers have more options, showing accessibility matters.
Imagine a buyer wants to see five homes on Saturday.
Four are easy to schedule.
Your house requires significant notice and has one very narrow showing window.
There's a chance your property gets dropped from the list.
Sometimes showing restrictions are unavoidable.
You have a job. Kids. Pets. Health concerns. Life.
I'm not expecting you to stop living because your house is for sale.
But I do want us to create the most workable showing plan we reasonably can.
Don't Ignore New Construction
Depending on your price range and location, your buyer may also be comparing your resale home with new construction.
A builder may be offering incentives that affect the buyer's decision.
The finishes are new.
The buyer may like certain features.
But your resale home may have advantages too.
Maybe you already have fencing, landscaping, blinds, appliances, a finished backyard or mature trees.
Maybe your lot is larger.
Maybe the location works better for the buyer.
We need to understand the whole comparison.
Seller Concessions Can Be Part of the Conversation
Sometimes the buyer's biggest challenge isn't necessarily the purchase price.
It may be cash to close or the monthly payment.
Depending on the transaction, loan program and lender requirements, a seller concession may help address something important to that buyer.
That doesn't mean every seller should automatically offer concessions.
And concessions don't fix an overpriced property.
Before we decide what to offer, I want to know what problem we're trying to solve.
Then we look at what it means for your estimated net.
You decide from there.
I Watch What Buyers Do After We List
This is where the strategy becomes very practical.
I evaluate my listings weekly.
I don't believe in putting your house on the market and disappearing for a month.
I want to know what's happening.
Are buyers viewing the property online?
Are they saving or sharing it?
Are they scheduling showings?
What feedback are we getting?
What are competing homes doing?
Which homes went pending?
Which ones reduced their prices?
Did new competition come onto the market?
The market starts giving us information pretty quickly.
Lots of Views but No Showings Tells Us Something
Suppose buyers are seeing your house online, but very few are scheduling appointments.
They found the property.
Something stopped them from taking the next step.
Now I want to investigate.
Is it price?
Presentation?
Competition?
A property characteristic?
Something else?
I don't want to randomly start changing things.
I want to understand what the pattern is telling us.
Showings but No Offers Tells Us Something Different
Now suppose buyers are coming through the house.
That's a different signal.
They're interested enough to see it.
But they're not writing offers.
Maybe the condition feels different in person.
Maybe they're consistently choosing another property.
Maybe they like the house but don't see enough value at the current price.
Again, I'm looking for patterns.
No Feedback Is Still Feedback
Sellers naturally want to know what buyers thought.
You cleaned the house.
You left.
You waited.
Of course you want feedback.
I follow up with buyer agents, but we don't always get detailed responses.
Sometimes buyer behavior is the feedback.
If buyers repeatedly tour the house and don't write an offer, that tells us something even if nobody fills out a feedback form.
No feedback is feedback.
I'm interested in the pattern.
I Don't Want to Wait 30 Days to Start Paying Attention
This is a big part of how I work.
I don't panic because your house hasn't sold in three days.
But I also don't believe we should ignore clear information for a month.
If buyer activity is strong, great.
If we're seeing the same objection repeatedly, let's understand it.
If competing homes are going pending while ours isn't, I want to know why.
If new competition enters the market, let's look at it.
There's no need to wait 30 days to pivot when the signs were already there weeks ago.
Don't Wait for the Market to Happen to You
One of the mistakes sellers can make is listing the house and then simply waiting.
Week one passes.
Then week two.
Then week three.
Eventually the explanation becomes:
“We just need the right buyer.”
Maybe.
But I want more information than that.
What is the market actually telling us?
If buyers aren't responding, let's try to understand why.
Your house doesn't exist in a bubble.
The competition changes.
Buyers react.
Other homes reduce prices.
Properties go pending.
New listings arrive.
Our strategy should be able to respond too.
Scenario: Your House Has Five Direct Competitors
Let's say your home is listed at $475,000.
Five similar properties are available nearby.
One is updated.
One has a larger lot.
One is $15,000 cheaper.
One is offering a buyer concession.
One has been sitting on the market for a while.
Where does your house fit?
Maybe yours has the best condition.
Maybe your location is stronger.
Maybe your floor plan is better.
Maybe the backyard is fantastic.
Maybe price needs another look.
I don't want to automatically assume we need to beat everyone on price.
I want to understand where we compete best.
Scenario: Your House Isn't Updated
Maybe your kitchen is older.
The bathrooms haven't been remodeled.
But the house has been taken care of.
That's not automatically a problem.
I'm not going to pretend it's updated.
I'm also not going to treat “not remodeled” and “poor condition” as if they're the same thing.
They're not.
We'll look at what updated homes are selling for, what similar non-updated homes are doing and what buyers can choose from today.
Then we position the property accordingly.
Scenario: Buyers Like the House but Need Help With Cash
Suppose the feedback is positive.
Buyers like the property.
Our price appears supported.
But we're hearing concerns about cash to close.
Now we have something specific to evaluate.
Would a concession help?
What does the buyer's lender allow?
What would the concession cost you?
What would your estimated net look like?
That's a different conversation from automatically reducing the price.
Different problems can require different solutions.
Scenario: A Competing Home Goes Pending
This can be useful information.
A house buyers were comparing with yours just went under contract.
Now there's one less option.
Maybe buyers who missed that house look again at yours.
I want to know when that happens.
The competitive environment doesn't freeze on the day we list your house.
Scenario: New Competition Hits the Market
The opposite happens too.
You're listed, and then a beautiful competing home comes onto the market.
Do we panic?
No.
Do we ignore it?
Also no.
We look at it.
How does it compare with yours?
Price?
Condition?
Location?
Features?
Seller terms?
Then we decide whether anything about our strategy needs to change.
Common Mistakes When Buyers Have More Choices
One mistake is pricing based entirely on what you need to walk away with.
Another is looking only at sold homes while ignoring what buyers can purchase today.
Another is assuming an updated competitor doesn't affect your position.
Another is ignoring new construction when your buyer may be considering it.
Another is using poor photographs because buyers can “see it when they get here.”
They may never get there.
Another is making the property unnecessarily difficult to show.
Another is spending thousands of dollars on improvements without deciding whether they'll actually improve your selling position.
Another is ignoring online activity and showing patterns.
And one of the biggest mistakes is refusing to respond to what buyers are telling us because we're waiting for one buyer to see the house differently from everyone else.
FAQ: Selling a Tri-Cities Home When Buyers Have More Choices
Does more inventory mean my Tri-Cities home won't sell?
No. More inventory means buyers have more properties to compare. Your pricing, condition, presentation, competition and overall strategy become especially important.
Do I have to price my house below everyone else?
No. The goal isn't automatically to be the cheapest house. I want to understand how your home compares with other choices buyers have at a similar price.
Should I remodel before selling?
Not automatically. Before spending money, consider whether the improvement is likely to increase your chances of selling or meaningfully improve your outcome.
Should I offer buyer concessions?
Maybe. A concession should solve an actual problem and make sense within the overall transaction. Your estimated net and the buyer's financing matter.
How often should we evaluate my listing?
I evaluate my listings weekly. I'm looking at online activity, showings, feedback and changes in the competition so we can identify patterns and make informed decisions.
Does professional photography really matter when selling?
I believe it does, which is why professional photography is part of my listing service. Buyers often encounter your house online before deciding whether they want to see it in person.
Can an older home still compete with updated homes?
Absolutely. Updated and well maintained aren't the same thing. An older home can still compete when its condition, price and presentation make sense relative to the buyer's other options.
You Don't Need Every Buyer to Choose Your House
This is probably the most important thing to remember.
We don't need every buyer in the Tri-Cities to love your house.
We need the right buyer to see enough value to choose it over the alternatives available to them.
That's why I want to know:
What else can they buy?
How does your house compare?
What are we asking them to pay?
How does it show online?
How does it feel in person?
What objections are we hearing?
What are buyers actually doing?
What's changing around us?
I'm Kim Feliciano, a REALTOR® in the Tri-Cities helping buyers and sellers in Richland, Kennewick, Pasco, West Richland and Benton City.
Before becoming a REALTOR®, I worked in mass appraisal, and today I combine that analytical background with the marketing side of selling real estate.
I want the data.
I want to understand the buyer behavior.
I want to know what we're competing against.
Then I want to explain it clearly enough that you can make the decision that's right for you.
Because it's your house.
When buyers have ten houses they could choose from, my job isn't to convince you yours is automatically the best one. My job is to figure out why a buyer would choose yours over the other nine.
Then we position it accordingly.
Kim Feliciano
Tri-Cities, WA REALTOR®
Helping buyers and sellers navigate the housing market in:
Richland
Kennewick
Pasco
West Richland
Benton City
Website: www.heykimfeliciano.com
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