Monday, June 30, 2014

Selling Your Home Fast for more money / Pricing & Staging....

Before deciding on a price to list your home, let's debunk a few myths: 

  • Myth: ouY should always ask more than market value to leave room for negotiations.
  • Courtesy of Top Producer
    • The fact is, neither you or the buyer determine the selling price of your home. The market determines that. If you overprice, and you're fortunate enough to even get someone to consider your home for purchase, they and their agent will likely come back and offer a price based on fair market value plus or minus any special adjustments. The idea from the start is not to scare potential buyers away by having a house priced above what the market says is fair.
  • Myth: Pricing high will help bring in more well-qualified, affluent buyers.
  • Courtesy of Top Producer
    • On the contrary, it is financial nonsense to pay more than fair market value for anything. Even if the buyer is paying cash, wise buyers will always have a formal appraisal to determine the actual market value. Think about it, if you walked on to a new car lot, and saw a 3 year old BMW that Kelly Blue Book said was worth $33,000, would you pay $40,000 for it? Probably not!
  • Myth: Pricing high for the first few weeks to see if we get any high-bites will allow us to reduce the price for everyone else later.
  • Courtesy of Top Producer
    • The way buyers shop for homes has changed in the 21st century. Thanks to the Internet, your selling strategy is transparent. Buyers receive alerts both automatically and from their agents when well-priced properties hit the market and they move on them. The days of strategically listing a property the Saturday before the local bi-weekly real estate magazine hits shelves are over. If a buyer sees your property listed too high, it will often get the cold shoulder and become stale after 3-5 weeks. Your key time for exposure, marketing and showing is weeks 3-5. Buyers and agents alike see listings older than this as progressively stale. Pricing right during your prime exposure is critical. 
Staging for Success
  • Clean, wipe down, and tidy daily. Make it a daily habit to ensure all personal belongings are put away in their place, floors should be swept, vacuumed and mopped regularly, counters should be tidied and wiped down, pillows, beds, cushions and blankets placed, folded and made properly. 
  • Personal Valuables such as jewelry, electronics, firearms, etc should be locked up and stored securely. This includes calendar magnets showing personal appointments (remember although accompanied by a licensed agent, strangers will be touring your home, your privacy is important).
  • Photos & Decorations should be hung and symmetrical to the room. Photos of your family should be removed and packed. Only generic photos, painting and decorations should be displayed. Use caution not to over-decorate to make the house feel cluttered.
  • Light Bulbs: Should be replaced so rooms light up brightly and all the same tone/shade of light.
  • De-clutter: rooms, floors and hallways should be free and clear of personal belongings, you should be able to walk freely around the home without tripping over personal belongings.
  • Fresh Plants are always a nice touch; Be sure to only place plants with mild pleasant fragrances. Better yet, invest in an essential oils burner and burn essential oils.
  • Adjust Furniture - Move your furnishing around to maximize the space in each room.
Justin Thayer 541-543-7287