As we approach the busy holiday season and cold snowy weather, we have limited time to get home listings sold. For those that still want to sell their home this year, it is more important than ever to make a good first impression with buyers. The highest number of showings is usually the first ten days that a home is on the market. Staging or improving your home later, may include a price reduction.
I was talking with a friend over the weekend that sold her home in another state, and she was surprised when the real estate agent recommended staging her home, as she thought it was perfect. Over half of her furniture and accessories were removed and the home was thoroughly cleaned, prior to the photos being taken. The home was priced competitively, and it sold for full price in 2 days.
Another buyer, I spoke with felt good about his house and wanted to price it high as he didn’t want to leave any money on the table. He felt he could always reduce the price but couldn’t raise it. This house needed a lot of work as it had been a rental property and virtually no maintenance had been done for 15 years. The seller didn’t have the resources to make any repairs.
I knew the buyer, for this home, would be a contractor or someone with extra money that wasn’t afraid of some sweat equity. The property wouldn’t meet FHA or VA qualifications, with peeling paint and other hazards. In this case the property was emptied, cleaned, and priced $25,000 lower than if the property had been maintained as needed.
I showed a lake home a few months ago that had a new septic mound installed which created a hill between the house and the lake. Dozens of buyers looked at the house and it sat on the market for months, before the seller hired a landscaper. Had the beautiful improvements been made before it went on the market, the house could have sold faster without the seller having to reduce the price.
With any home we are selling, we try to determine who the buyer will be and adjust our marketing to that buyer pool. A contractor or investor doesn’t care about staging as they see the property as a future investment. Buyers that purchase emotionally want to feel like they can move right in and feel at home. A buyer looking for a lake home or one level living, has specific requirements, and may look beyond staging.
An experienced real estate agent can help you make a good first impression with your home.
Ask the Real Estate Agent is a weekly column by Cheryl Kempenich of Coldwell Banker Burnet. Submit your questions to firstname.lastname@example.org. All information is deemed reliable but not guaranteed. For legal assistance consult an attorney.