We've heard over and over again "Now is the time to buy", but recently a new client came in to talk about listing their home for sale in the spring. I asked "why wait until the Spring?" and this started the conversation. If we are telling our clients that the rate of the market decline (now forcasted to last to Q3 2012) is slowing, but interest rates are creeping up, so it really is a good time to buy - then we need to tell sellers the same so that supply will match demand.
For those of you who regularly read my posts, you know that I'm all about looking at market absorption, taking a listing to sell, rather than to sit (we don't "buy" listings in our office), and pricing a home ahead of the market. Setting a competitive sale price, most Realtors agree, is arguably the best way to speed up the sale of your home in today's market.
But pricing a home ahead of the competition is just one factor to a successful home sale. Today, home owners must also position their homes to stand out ahead of the competition.
What do I mean by that? And how do we, as listing agents help our clients by sharing ideas with them? Well, close your eyes and erase every notion that you have as a listing agent, and try to evaluate the property from the point of view of the buyer:
It's not always "location, location, location" - many buyers today are transplants - they rely on the buyer's agent and the Internet to gather information about the community, schools, parks and recreation, shopping and transit. If you were a buyer, new to town, wouldn't it be "neat" if the seller or his agent would do some of the homework for you?
Do a drive-by- do you own the "best house in the worst neighborhood?" No matter how proud you are of your house, the way neighbors treat theirs is also important in making a positive first impression. Pride of ownership throughout the neighborhood is a positive reinforcement - especially when buyers already may be recovering from sticker shock.
Does the home have "curb appeal?" -drive way or parking strip? what do buyers see when they open their car door? Are the walkways neat, lawn and landscaping groomed, and pavement free of cracks and debris? Is the entrance to the front door inviting? Have you replaced any warped doors and replaced any missing or torn screens? Is the exterior paint peeling, or has the home been power-washed and repainted as needed?.
What do you see when you open the front door? - Do you see clutter and chaos, or is there a peaceful sense of "welcome to your new home" as you open the front door? Does the home smell nice, or do you have to walk through an invisible cloud of cigarette smoke and smells of kitty litter?
Was this house built for you or for me? - Has the home been neutered? Have you packed away all of the trophies, knick-knacks and family photos so that the buyer can imagine himself living in the home? What you consider to be a playroom, may be an office for others; the back porch that you use for storage may be the sun room for the new owners. Try to let potential buyers "see" themselves in the space, by not cluttering their minds.
Make small repairs- it's the little things that count and reinforce pride of ownership and proper maintenance of the home. Replace that cracked light switch cover. Replace or fill in broken tile or chips in the the porcelain appliances and in the bathroom. Make sure outlets are not overloaded and all cords and extensions are organized. You don't want to give the impression that the room is too small or doesn't have enough outlets.
Make small updates - Green is in. Replace light fixtures with energy efficient light bulbs (check with your local energy provider to see if they can do an energy audit for you). Replace cabinet door knobs and handles throughout the house to "update" an older kitchen; replace wall paper with a fresh coat of paint - all these ideas can go a long way toward giving your home a fresh, new look.
Kitchens and Bathrooms sell homes - New kitchen appliances, especially stoves and refrigerators, are a plus, but if you can't afford to update the appliances, make sure that the oven is clean, the stove top and and all metal surfaces are shiny as a mirror and the kitchen counters rid of small appliances and other clutter. The kitchen table should be set and a nice flower arrangement set in the middle. The bathrooms should be odor free and sparkling clean. Fan vents should be free of dust and grime and all drains should be flowing freely.
Get rid of that old comfy chair - homes that sell are those that allow the buyer to see themselves in the house. Mismatched and ripped and dented furniture don't cut it. Get rid of the old furniture (you probably won't be moving it any way) and consider using a home staging expert to bring in stylish furniture that elegantly shows off the home - in a cost effective manner. Most furniture rental companies offer discounts or rebates to the Realtor, get them to pass on the savings to you.
Add some "bling" - Don't go over the top, but add some fresh touches to the home - a new mirror or painting in the hallway, fresh new towels in the bathrooms, or a fancy vase of fresh flowers on the dining room table are small and inexpensive touches that can attract and please potential buyers. A fresh coat of paint (neutral colors) in the living areas and new area rugs also freshen up the home.
These are just a few ideas to help sell your home faster than the competition. If you need to confirm this for yourself, take a walk through a few open houses in your neighborhood to compare your home to the competition. If you can see the difference, you can be sure that a potential buyer will too! And it's never too late to make the change to keep up with your competition. Just make sure that your listing photos show off the house as well - with over 85% of today's buyers finding their home on the Internet, you can't afford to have anything less than professional quality photos of your home.
Comments (2)Subscribe to CommentsComment