It’s only human nature to want to get something for nothing. I can hardly pass the end caps at Target without at least looking to see what the clearance items are. I get a rush when I see a sidewalk sale and the idea of buy one get one free makes me giddy. The average consumer wants to get a good deal on anything they purchase and buying a house is no different. Buyers want the most for their money. They know there is bargaining room and look for reasons to get the asking price down. It’s only natural that they will try to negotiate to get the best deal they can.
Home Staging is a great tool because put simply, it raises the perceived value of the property. A buyer looking at a properly staged home will be hard pressed to find reasons to offer less for it. Preparing the property for the market involves making needed repairs, neutralizing, de-cluttering, and showcasing the features of the home. Potential buyers should feel that they are getting a great deal and the sellers are crazy for asking so little for the house. In this market, a lot of buyers will sit and wait for a seller to keep knocking the price down, even if they love the property. They feel safe in waiting simply because there are so many other homes on the market. Think of it as the clearance aisle at your favorite store. The price was just slashed by 30% on something you really want but you know if you wait just a little longer, the price will be cut even further. Most consumers would hold out hoping for a better deal unless there were only a few left. Buyers realize that every property is different but the likelihood of finding something similar is pretty good. Now, if the exact same house was staged in order to make it the best it can be for what it is, and priced correctly to begin with, buyers would get that rush that says “If I don’t buy it now it will be gone.” This sense of urgency is a big factor in selling a home. Just like any product, it has to look good and be priced right to sell. The best advice I can give a home seller is to think of your home lined up with all the other homes in the area. Would yours be the one to make consumers feel like they would be lucky to purchase it at the price it is or think they can sit back and wait for the “Price reduced” sticker to appear?
Heather Durren is an accredited staging professional and owner of Staging Places which has staged over 200 homes in the Detroit metro area<!--EndFragment-->
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