Identify and Address Price Eroding Issues

By
Home Stager with Seneca Home Staging
https://activerain.com/droplet/4JcY

Hire a home stager to identify and address price eroding issues

Whether you are a home stager or a real estate agent, you have probably encountered a sellerRepair price eroding issues who is reluctant to make necessary repairs which ultimately become price eroding issues.

You've heard the excuses:

  • "I'm selling the property "as-is."
  • "I've already put enough money into the property"
  • "I'll let the next owner deal with that."
  • "I'll use that as a bargaining chip."

A good home stager doesn't just rearrange the furniture, clear away the clutter and fluff the pillows. He or she identifies price eroding issues such as repairs or obligations that the seller is already aware of or has just stopped noticing.

Points to consider:

  • Buyers almost always overestimate how much a repair will cost and will deduct that inflated amount from their offer.
  • Deferred repairs give the impression that the home has not been cared for.
  • Buyers are willing to pay more for a home that is "move-in ready".
  • A home inspection will uncover price eroding problems and may slow down the sale.

It's a good idea to eliminate price eroding issues

There are  many things besides repairs and obligations that qualify as price eroders, and, as any good home stager will tell you, the seller should eliminate as many as possible.

Buyers will just as soon walk away from a property than engage in a bargaining battle to get what they want. Sometimes it's just one little thing that the seller doesn't believe is that big of a deal, such as a toilet leak, or a worn spot on the hardwood floor that make buyers turn away.

Making repairs on a home you are selling may seem like a waste of money or a tough pill to swallow, but you're only hurting yourself when you leave those bargaining chips fall where they may.

 

Image courtesy Grant Cochrane/FreeDigitalPhotos.net

 

Posted by

Janelle Ancillotti, Certified Professional Home Stager

Seneca Home Staging, Baldwinsville, NY

(315) 506-0725

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Rainmaker
474,882
Christine Pappas - REALTOR®
eXp Realty - Willoughby, OH
eXp Realty - Because Experience Matters

So true, I walk around with buyers and just hear the dollar deductions going on in their minds.

Jul 23, 2014 06:44 AM #1
Ambassador
2,355,504
Fred Griffin, on leave of absence from ActiveRain
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     I showed a house recently with a "running" toilet.  At first I thought somebody was in the house.  After loudly announcing my presence several times, we went inside.  I went to that bathroom and flushed the toilet, but the fill tank kept on running.  

     That minor sound was a complete distraction; it killed any interest the Buyer had in that house!   -

Jul 23, 2014 07:14 AM #2
Rainmaker
174,955
Janelle Ancillotti
Seneca Home Staging - Syracuse, NY
HSR Certified Home Stager, Syracuse, NY

Hi Christine! That's not the kind of sound you want to hear, is it?

Hi Fred! Such a shame, maybe it was Murphy's Law: as soon as you put your house up for sale, a toilet that never ran before suddenly starts running, or a basement that never leaked once all of a sudden turns into an indoor swimming pool.

Jul 24, 2014 01:00 AM #3
Rainmaker
2,113,377
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Today's buyers have no time for or interest in making improvements.   The price will have to just keep being reduced until the right buyer comes along!

Jul 30, 2014 10:27 PM #4
Rainmaker
820,143
Maureen Bray Portland OR Home Stager ~ Room Solutions Staging
Room Solutions Staging, Portland OR - Portland, OR
"Staging that Sells Portland Homes"

That's right, the best outcome results when sellers take care of any and all issues that would cause a buyer to either walk away, or make a low offer.  A simple staging consultation can help identify what should be taken care of, in a cost-effective way.

Aug 02, 2014 04:21 PM #5
Rainmaker
160,356
Ana Hitzel
AccentPositives Home Staging - Corona, CA
Professional Home Stager Inland Empire

Money down the drain and more DOM, problems that pretty staging won't fix and good stagers drive that point home. Good post.

Sep 04, 2014 05:11 AM #6
Rainer
389,343
Anna Hatridge
Goodson Realty - Farmington, MO
Missouri Realtor with Goodson Realty

I try to turn the 'I'll use that as a bargaining chip' attitude into a formula for let's get the best price we can for your property.  As you have pointed out, buyers almost always over estimate the cost of repairs.

Sep 15, 2015 01:02 AM #7
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Rainmaker
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Janelle Ancillotti

HSR Certified Home Stager, Syracuse, NY
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