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Great Tips From One Real Estate Expert - Home Staging Minneapolis, MN.

By
Home Stager with Rooms With Style

So I was watching one of my favorite shows "The Nate Berkus Show" the other day, and he had my favorite guest on, Real Estate Agent and Mogul Barbara Corcoran If you are not aware of who Barbara Corcoran is, she is a Real Estate Contributor on NBC's Today show and part of ABC's reality hit Shark Tank. 


 

She is one of the renowned experts on Real Estate and here are a few things she had to say. A couple were new to me but they are great advice for sellers to pay attention to!    

1) BUYERS DECIDE WITHIN 8 SECONDS WHETHER THEY ARE INTERESTED IN YOUR HOME. 

Funny...I have always told my clients that the buyer will decide within 11 seconds. I was 3 seconds off!!  As a Home Stager I need to get that first impression even better to make up the 3 seconds! But seriously, we all know how important that first impression is.

2) PRICE YOUR HOME EXACTLY AT WHAT IT'S WORTH.

Don't leave "wiggle room". Barbara's recommendation for the best way to get to the right price is to get three qualified Agents to give you their opinion on price, then go with the lowest one as that is the broker that is telling them the truth. How many agents tell the sellers only what they want to hear just to get the listing? I am not an agent so I cannot weigh in here but I think it happens. 

3) NEVER DROP YOUR ASKING PRICE IN SMALL INCREMENTS. Down Arrow Clip Art

Small price drops here and there don't get attention and really don't look good. What you need to do is drop the price enough to get it into down into the next price bracket. If your home is in the $350K-$400K bracket now, you will need to drop it down to $349K to get noticed by another group of buyers.

 4) NINE OUT OF TEN BUYERS VIEW HOMES BASES ON PICTURES ONLINE.

Okay, with gas prices the way they are we know this is true!! But even before that people just don't have the time to drive around and look at homes anymore....they weed them out on the internet. Pictures are key!!

 

5) GET YOUR HOME INSPECTED BEFORE LISTING.  

And not for the reasons you may think. It's not so you can hang another little sign at the bottom of your 'For Sale' sign saying 'Inspected'. It is so that you know what you need to fix and get it fixed before you even put it on the market. 

 

6) IF YOU HAVE 8 SHOWINGS WITHOUT AN OFFER YOU ARE OVERPRICED. 

Since I am not an agent this one was new to me. Apparently the US average is 8 showings per offer and anything over that is not a good sign. 

 

So sellers....get a good agent. Get a good Home Stager. Need I say more?? Need Barbara say more? LOL

 

 

Comments (12)

Tracy Oliva
West USA Realty - Arizona - Fountain Hills, AZ
The Oliva Team Arizona Agents

Good Morning  This is some great Info for all,keep up the good work and good luck with your business in 2012' E

May 01, 2012 10:18 PM
Kevin Sembrat
Diversified RCS Inc; http://www.ManhattanPropertiesGroup.com - Manhattan, NY

Hi Shar,

I appreciate these great ideas, worth referring back to -- thanks for blogging!

Best,

Kevin

May 01, 2012 10:21 PM
Peggy Chirico
Prudential CT Realty - Manchester, CT
REALTOR® 860-748-8900, Hartford & Tolland County Real Estate

Hi Shar - This is very sound advice and needs repeating often! I also like Barbara on Shark Tank!

May 01, 2012 11:07 PM
Lynda White
Bluegrass Homes & Farms Realty, Agent Know How - Louisville, KY
Admin. Mgr., Keller Williams Realty

This is an I Want It All and I Want It Now society! So if you don't have it all they don't want it now! I believe that it may even be shorter than 8 seconds. Great post and suggested! 

May 02, 2012 12:08 AM
Shar Sitter
Rooms With Style - Minneapolis, MN
Home Staging and Redesign Minneapolis/ St. Paul, M

Thank you Ed! Same to you.

They are solid sound tips for sellers Kevin.

I haven't watched Shark Tank Peggy but I need to tune in! I just love Barbara from her no nonsense style in Real Estate.

Thanks Lynda. I knew within seconds when I bought my house that's for sure. 

May 02, 2012 01:50 AM
Ellen Caruso
Daniel Gale Sotheby's International Realty - Glen Head, NY

Shar, she has great advise...thanks for posting....I'll read it twice!

May 02, 2012 05:21 AM
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

I think all of these points are spot on. They reinforce how very important the right price is. I also like point one... my husband always says he knew our current house was "the one" by the look on my face the moment we pulled up in front of it that first time. Inspecting before listing is not something I typically do, but can definately see the advantage of doing so.

May 02, 2012 11:41 AM
Maureen Bray Portland OR Home Stager ~ Room Solutions Staging
Room Solutions Staging, Portland OR - Portland, OR
"Staging Consultations that Sell Portland Homes"

Shar ~ Barbara is one of the sharpest cookies in the real estate industry.  I love all of her advice, agree with it, and really love Shark Tank ... never miss an episode!!

May 02, 2012 12:27 PM
Shar Sitter
Rooms With Style - Minneapolis, MN
Home Staging and Redesign Minneapolis/ St. Paul, M

Thanks Ellen!

I knew instantly too Gretchen. I can see why the inspection first would be beneficial so there are no surprises and everything gets fixed first. 

I have got to check that program out Maureen. So many people say how good it is. 

May 02, 2012 12:54 PM
Kim Gaston
RE/MAX Advantage Realty - Colorado Springs, CO
Colorado Springs REALTOR®, CNE (719)661-6987

LOVE Barbara...does she moonlight for RESA?! Ha! Honestly, she adds so much integrity to the face of staging. Her advice is succinct and spot-on. Thanks for sharing, I had missed it.

May 02, 2012 03:23 PM
Shar Sitter
Rooms With Style - Minneapolis, MN
Home Staging and Redesign Minneapolis/ St. Paul, M

Perhaps she would Kim! LOL

I didn't know about the 8 showing average Valerie but that is why I love Barbara, I like to learn through her expertise. 

May 06, 2012 09:28 AM