In the world of real estate, “positioning” is a marketing term that describes the art of knowing which space a certain property fills in a given market, and taking that message to the right people. But there’s another, more literal definition to the idea of positioning — how your home is literally positioned. It plays a significant role when you’re buying, and it’s important when you’re selling too. Here’s how to understand your home’s positioning — and how best to leverage it.
Identifying Your Home’s Positioning
If you’re selling a condo, all of the units in your building share the same address and the same area of land. But each condo is positioned differently, and there’s often a premium to be paid for more desirable positions — things like better views, less street noise, proximity to the building’s amenities or even just to the elevator. While everyone is familiar with the idea of location, location, location when it comes to real estate, the idea doesn’t just apply to the neighborhood but to how the home itself is situated. Which direction does it face, and what kinds of views or sunsets does it have? How close is it to the property’s pool? What kind of light does it get?
When it comes time to sell, take note of your home’s positioning. Being intimately familiar with its strengths and weaknesses — many of which are directly linked to how it’s positioned on a given property and in the greater neighborhood — puts you in a position to better market the good stuff. Prospective buyers need to be able to picture themselves living in your home, and the real key to effectively selling a home is by matching a home to the right buyer.
Keen observation goes a very long way in effectively identifying your home’s positioning and leveraging it for the best possible sale. It’s not wildly difficult, but there is an art to the process and the right experience goes a very long way. If you’re buying or selling in the Bay Area, I’d love to help.