How to Reveal the True Value of Your Home

By
Home Stager with Birgit Anich Staging & Interiors, 203.807.4040

When selling real estate – or any other product – there are always two sides that need to be considered. There is a difference between the PRICE and the VALUE of a property.

1. The PRICE is the amount of money you are asking for the property.

2. The VALUE is whether the buyer perceives that your property is worth or desirable for that price.

The perceived value is influenced by many factors, such as location, condition, features, appeal, and comparison to other listings in your market area. If your house has been on the market for some time and you have not received offers or not the offer that you desired to achieve, this is an indication that the buyers do not perceive the value of your property worth the price you are offering it for.

When selling your house you are in business and it is important to understand today’s real estate buyers and what they consider valuable in their decision when making their single largest expense. Buyers today are not buying the same way as buyers from just a few years ago. Due to a large selection of homes available to them on the market, buyers can afford being picky and in what they want to have. So what are some things buyers are looking for:

  • A move-in-ready home: most buyers do not want to purchase projects when they make their single largest expense. They want to be able to move in and immediately continue with their life without having to spend more money and time.
  • Buyers are looking for a lifestyle. They do not just buy a house, they buy a home, a lifestyle they are dreaming of.
  • Updated kitchen and bathrooms
  • High-end finishes for appliances
  • Curb appeal

So, what does this mean for you as the home seller? Are you showing your house at its best value to your buyers?

What are some of the things you can do to reveal the true value if your house?

1. Take care of all repairs.

2. Hire a real estate agent - the price value is their expertise.

3. Consult with a professional home stager on how to prepare your house for sale to show the maximum value to your target buyers. The home stager will consult you not only on how to update most cost efficiently different areas to achieve the highest return on investment, but also how you make your property stand out from your competition.

4. Update your kitchen and bathrooms. Your home stager can work with you on the best way to achieve the updated look without breaking your bank. Believe it or not, there are many ways to update a bathroom without having to completely renovate.

5. Arrange for a pre-listing home inspection. You show buyers that you have addressed any defects and thus add value and weight to your disclosure statement. It will eliminate or reduce buyers’ concerns.

6. The curb appeal gives the first impression when driving up to your house – make sure that this impression is a lasting one, so buyers get excited to visit your property. Consider hiring a professional landscaper.

7. Never sell a house vacant – real estate gurus will tell you that this is one of the biggest mistakes. But don’t just put any furniture in. Remember you are selling a lifestyle and added value to stand out from your competition. The right choice of furniture, furniture placement, accessories, artwork, lighting, rugs are critical for your success as each item that you add sends buyers a conscious and unconscious message to feel connected with the house. Call a professional home stager who specializes in vacant real estate staging.

Once you show buyers the maximum VALUE the house will sell faster and buyers are willing to pay more. The spring real estate market is just around the corner. Right now is the best time for you to get prepared to show the maximum value of YOUR house and consult with a professional stager. Don’t take the “let’s see how it goes and if it does not work, we can still hire a stager later” attitude. The most traffic drawn into your house will be within the first 2-4 weeks. If you don’t get the attention of buyer’s real estate agents and buyers looking online, you are wasting all this time on the market. Your house will then become a stale listing that they will not come back to visit, even if you have made changes. So, act BEFORE putting your house on the market and show it at its best value right away.

Posted by

About the Author: Birgit Anich is the President and Creative Director of Birgit Anich Staging & Interiors one of the most innovative real estate staging and design firms in Fairfield County, CT. Our distinctive approach is creating a lifestyle experience that sells homes fast and at the maximum price. Birgit’s focus is working with home sellers and their real estate agents to prepare their property to appeal to the most likely buyers. As Certified Advanced Stagers, trained by HGTV star Matthew Finlason, Birgit Anich Staging and Interiors transforms a property into a buyer’s dream using Targeted Lifestyle Marketing Techniques.

Birgit also won the most prestegious awards in the Staging Industry - Regional and National Awards of Rookie Stager of the Year by RESA.

Copyright © 2011 Birgit Anich Staging & Interiors, LLC – All Rights Reserved

RESA Rookie Stager  RESA-PRO SAR Advanced Design Specialist

Fairfield County, Connecticut   I    www.BirgitAnich.com   

 

Comments (17)

Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

The bank won't let project homes make it through the filter. Often it is not the home is not worth blank. It's the buyer can only afford this much. 

Jan 21, 2012 12:44 PM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Birgit, this is a good explanation of Price versus perceived value.  You have also made some great suggestions for sellers!

Jan 21, 2012 01:56 PM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Birgit- like the new photo!  You've written an excellent piece that any seller can follow to understand just what they need to do to get better value from their home when they sell. 

Jan 21, 2012 03:16 PM
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

Birgit, some great advice, I am going to pass this around the office, Happy New Year.

Jan 21, 2012 11:27 PM
Birgit Anich
Birgit Anich Staging & Interiors, 203.807.4040 - Norwalk, CT
CT Home Stager Fairfield & New Haven County

Andrew, understanding the value chain when marketing real estate is important - regardless of the price level of the property. Buyers in different price ranges look for different values. As you point out, that's why it is so important to understand the local market and what different buyers are attracted to.

Thank you Sharon!

Kathy, thank you for checking in here.

David, Happy New Year to you as well. Hope you had wonderful holidays. Thank you for sharing in your office.


Jan 22, 2012 03:04 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Birgit, there are some excellent points here although I wouldn't necessarily agree with the order.

Jan 27, 2012 04:17 AM
Birgit Anich
Birgit Anich Staging & Interiors, 203.807.4040 - Norwalk, CT
CT Home Stager Fairfield & New Haven County

Good point Ed. Thank you! I have made the change.

Jan 27, 2012 06:25 AM
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Hi Birgit.....great job on this post....I'm here from Ed's post about you.... you're in good company with Ed Silva....

Jan 27, 2012 11:16 AM
Judith Parker
ProStead Realty - Charlotte, NC
CRS, GRI, CMRS, Charlotte, NC

Hi Birgit, Ed Silva sent me over and I just want to say welcome.  Also, this is a great post and needed by all.  Thank you!

Jan 27, 2012 11:30 AM
Birgit Anich
Birgit Anich Staging & Interiors, 203.807.4040 - Norwalk, CT
CT Home Stager Fairfield & New Haven County

Thank you Barbara for checking in here and saying hi!!!

Judith, thank you for the welcome! :) I am glad you like my post.

Jan 27, 2012 12:49 PM
Al & Peggy Cunningham, Brokers
RE/MAX West Realty Inc., Brokerage - Brampton, ON
Our Family Wants To Help Your Family!

Wise advice Birgit! You're right buyers do not want to buy a property with 'projects' to do!

Jan 27, 2012 01:22 PM
Carol-Ann Palmieri
RE/MAX Executive Realty, Al and Cal Realty Group - Franklin, MA
"Cal" the Real Estate Gal

Hi Birgit.   Read Ed's post about you and jumped on over.  Nice post!

Jan 27, 2012 11:04 PM
Anonymous
Peter Michelbach

Hi Birgit ~

Thanks for sharing - great analytical post - and superb suggestions for all. Read Ed's post, and wanted to say hello from 'down under'. Be well.

Jan 28, 2012 02:31 AM
#13
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Brigit, this blog is excellent, It should have been featured, so I hit the little button and suggested it. 

Jan 28, 2012 08:17 AM
Birgit Anich
Birgit Anich Staging & Interiors, 203.807.4040 - Norwalk, CT
CT Home Stager Fairfield & New Haven County

Al & Peggy, buyers nowadays are different from a few years ago. They are smart and want to wait for a good deal - and rather spend a more for what they want without any additional work. 

Thank you, Al & Cal

Great to see you here, Peter! Thanks for checking out my post.

Wow, thank you George for suggesting this post for feature. Glad to see you here! Hope to see you again at one of the AR events.

 

Jan 28, 2012 01:48 PM
Irene Durocher
Coldwell Banker BUYERS AGENT - Boca Raton, FL
homesweethome4u@att.net

Birgit, a great article, some very good tips ,thanks Ed for directing me to her blog.


Irene Durocher  Bristol Properties


Boca Raton,Florida on the Atlantic Ocean

Jan 29, 2012 01:48 PM
Birgit Anich
Birgit Anich Staging & Interiors, 203.807.4040 - Norwalk, CT
CT Home Stager Fairfield & New Haven County

Thank you Irene!!!

 

Jan 31, 2012 03:50 PM