When selling real estate – or any other product – there are always two sides that need to be considered. Before you can start looking on William Pitt for your new home, you need to figure out how to sell your current property. 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 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 of your house?
1. Take care of all repairs.
2. Hire a real estate agent – pricing is their expertise. They will know things you may not have considered so invest some time into researching the best of the best, such as MMG- Mandy McGuire Group powered by Keller Williams Marquee for example.
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. You then just compete on price and not the true value of your home. So, act BEFORE putting your house on the market and show it at its best value right away.