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:: Paint by Numbers ::

I just told a vendor I would lend her $1000 if she paid me back $10,000 in 4 months.

Am I a loan shark on the side? No I was just doing my darnedest to impress a point on the owners who fail to see the value in painting their vacant home. As it sits it is a fine 2800 sq ft 4 bedroom home - however the previouse tennants likely didnt get the HGTV channel and had no sense of colour. You can almost taste the orange foyer as you come through the doors and make your way to the burgundy kitchen.

I have learned that it is difficult for most buyers to see beyond what is in front of them and actually envision a home as they would paint it. The paint quote came in at just under $1000. It is costing them over $2500 for each month it sits empty, an extra 4 months on the market is $10000 out of their pocket. Are there any psychologists amongst you who have any further tips on how to convince a vendor that a fresh coat of paint will set the tone for the whole house?

Posted by Mike Montague on 01/30/2007 12:49 PM

Comments (5)

paint, preparing to sell, staging

5 Comments on :: Paint by Numbers ::

JAN

2007

Hey, Mike!

Try taking your sellers to a few listings - pick one with hideous colors (like their home), and then another one with neutral colors. After seeing both, ask them what they remember about each. I guarantee, the rainbow house will stick out for color scheme only! Maybe if they detach their personal feelings (and wallet) from their home, they'll realize that a neutral one is much more welcoming and not 'hostile' like bright, overbearing colors.

I am not a psychologist but here are some tactics that I have used to help a home become more marketable.

Ask why there is resistance to a fresh coat of paint.

Ask the vendor to go out and see the competition.

Show some interior pictures of homes and rate them from most to least desirable.

Explain that buyers prefer less work to more work and want more value for their buck.

Incorporate any feedback about the paint color from other agents into your conversations.

Condition can be compensated by price, suggest lowering the price.

ABSOLUTELY! I am a big fan of taking clients into their competition - it helps with pricing, staging, cleanliness, etc....they'll always compare what they see to their own home. Here in the Phoenix area, there are a TON of listings, so when you show them on paper, it doesn't have the same impact as it does to drag them to 15 similar listings in the same community - they quickly see that their home has to SHINE, and they can't be unreasonable with listing price.....

JAN

2007

Mike,

All of the above are wonderful suggestions, but another one you can try is to set up your video in your open house and tape the comments concerning the colors in the house. Even interview the individuals that come through the house. Then show it to the clients. Or if you want the agent to do it, sit the open house with her. You know what they say, "a picture is worth $10,000.00."

Have a wonderful day.

Roberta "Dove" Lee

Century 21 Olde Tyme, Norco, CA