Everyone wants to get the best value for their home, but how do you do that exactly?
Follow the 3 P’s!
Prep
Price
Presentation
A listing is an event, and effective planning, a little bit of legwork, and the right people can help it go off without a hitch
Preparation of your Home for Listing
A recent survey in the Wall Street Journal found that 77% of homebuyers wouldn’t consider a home that wasn’t ‘Move-In Ready’. It can really pay off doing the small fixes around your home prior to putting it on the market, addressing minor repairs like leaky faucets, loose doorknobs, or patching small holes in walls can make a big difference. It shows that the home has been well-maintained.
Your Realtor can work with you to find the most pressing items, and help to point out improvements that will have the most impact. They will know best what to prioritize, that small issue that has been driving you nuts for the last 10 years may not be as big of a deal as some of the other things you have learned to live with. Consider having a professional inspection before listing. It can identify any major issues that need addressing, and showing buyers a recent clean inspection can be a selling point.
Small changes, like removing your family photos from the walls can have a big impact on helping Buyers better visualize themselves in the home. Painting rooms in neutral colors like white or beige allows potential buyers to more easily envision their own belongings in the space. It also makes the home feel brighter and cleaner, it is one of the best things you can do prior to listing to have a positive impact on the price you can command.
Well-lit rooms feel larger and more inviting. Consider replacing old light fixtures or adding extra lamps where necessary and having blinds or shades in the optimal position for viewings.
Buyers often check storage spaces. Organizing closets, cabinets, and the garage demonstrates ample storage capacity. A cluttered closet that is almost overflowing doesn’t inspire confidence that the Buyers will be able to contain their things.
Not everyone is a pet lover. Removing pets during showings can help the buyers focus on the home. Even if they are pet lovers, they might be too focused on your pet and not take the time to really assess your home!
Fresh air is inviting! Air out the home to eliminate any odors, especially if the home has been closed up for a while. You probably love the smell of your home, after all, it smells like home! It may be foreign to your Buyers though and you want things to smell fresh and neutral. Adding mall luxuries like new towels in the bathroom or fresh flowers can make a home feel inviting, lived in but not occupied.
Having digital documentation for any recent upgrades or repairs, as well as warranties for appliances, can provide a sense of security to potential buyers. It gives them additional resources that make the updates feel more professional.
Staging Your Home
Deep cleaning, decluttering and depersonalizing are the essential first steps I advise my clients of taking, but I cannot stress enough the value of home staging.
People want to buy their home, not your home.
Thoughtful staging is like setting the perfect scene in a play, it invokes emotions, paints a lifestyle buyers aspire to. It’s not just about filling rooms with furniture, it’s about fulfilling dreams with possibilities.
If physical staging isn’t feasible, consider virtual staging to showcase the potential of the home in online listings.
Soft music playing during showings or an arrangement of fresh flowers can create a welcoming atmosphere. First impressions matter. Enhancing the home’s curb appeal by mowing the lawn, planting flowers, or painting the front door can attract more buyers, and if care has been taken to the outside of the property, it lets Buyers know that the home has been well looked after and maintained. It really does inspire confidence and it really does matter, whether the Buyer consciously realizes it or not.
Selecting the Right Price for Listing Your Home
Contrary to popular belief, Realtors don’t pick the listing price, you do! Your agent will give recommendations based on the market, sales data, how other listings in the area are faring, but ultimately, it’s up to you what you’d like to list at.
It’s important to pay attention not only to recent sales data, but also the active competition in your area, as well as the listings that failed to sell. Understanding what kept them from selling can help you to position your home better in the current market, and succeed where they failed.
Pricing is usually made up of many factors but ultimately boils down to the market, home condition, and location. By market I mean the speed and intensity with which properties are selling. In a Buyer’s market, one where there’s lots of homes to choose from, there’s usually more time to shop as homes take longer to sell, and Sellers jockey to be the next home to sell. As a Seller you usually need to be more flexible and open to negotiating, you also have a smaller effective pricing window.
A Seller’s market is the opposite, where there are more people looking to buy than sell. Homes tend to sell much faster, and there is a higher chance that more than one Buyer will compete on the same home. This usually means your effective pricing window is larger as Buyers are more willing to take what they can get their hands on.
Understanding where your market currently stands can help you to better position your home, retain more equity in the sale, and have a faster & smoother experience overall. Sometimes asking for less ends up netting you more in the end. Pricing your home lower usually means more interest and potentially more demand. It could even mean Buyers compete for the chance to buy it. Don’t discount the power of FOMO.
This isn’t always the right strategy though, so work with your Realtor to pick the price that makes the most sense for your goals and timeline, within the prevailing market conditions
It’s important to have a plan around pricing as well. How long do you plan to try a particular pricing strategy before readdressing? A lot of agents will put a home on the market and hope for the best. Sometimes this works out well in the end, but generally the length of time a home sits on the market, the lower its perceived value in Buyer’s eyes. This usually means they’ll be more aggressive with their offers, and try to get a better ‘deal’ because it’s clear there aren’t a lot of people interested.
I take a more proactive approach, and while pricing is ultimately up to you, I believe the market speaks, and I encourage my clients to listen and react accordingly.
Presentation of Your Home for Listing
Stepping into the real estate market is akin to stepping onto a stage, and like any seasoned performer will tell you, the spotlight is where magic happens. It’s where your home gets to have its ‘standing ovation’ moment in front of a captivated audience – the potential buyers.
Now, imagine your home is ready for its close-up, but the spotlight is a tad too dim, the stage a bit too cluttered. That won’t do, right? This is where stellar presentation strides in, turning the ordinary into extraordinary, making sure the spotlight hits just right to unveil the charisma of your dwelling. People eat with their eyes, and we want your home looking delicious. That means bringing in the pros that know how to capture your home in the best light.
We want to make your online presence as engaging as possible, to capture Buyer’s attention and motivate them to come and see it in person. That means using real photography and videography equipment along with skill and expertise, not cell phones cameras and wishful thinking. A picture is worth a thousand words, but a splendid picture, captured by a professional with the right equipment, sings a melody that resonates with Buyers. It’s the difference between a snapshot and a story, a glance and a gaze.
In a digital-driven market, virtual tours are the front row seats offering an immersive experience. They beckon buyers to stroll through the rooms, feel the space, all while nestled in the comfort of their current homes. It’s about creating that ‘I need to see this’ urge.
Elevate the perspective! Aerial drone shots encapsulate the grandeur of the property and its surroundings. It’s a bird’s eye view that’s bound to leave a soaring impression. A well-detailed floor plan is a map leading to treasure—the treasure being the potential of your home.
Interactive media like 3D walkthroughs engage buyers on a different level. Your online listing is the billboard that beckons. A harmonious blend of compelling visuals, engaging descriptions, and a call to action that’s as inviting as a red carpet. Tease the audience with snippets on social media, create a buzz, let anticipation build. It’s the trailer before the grand premiere.
Highlighting local amenities and lifestyle through photos and videos is like showcasing the co-stars. It accentuates the living experience beyond the four walls.
Lastly, embrace feedback. It’s the applause, the encore calls, or the constructive critique that helps fine-tune the presentation for a standing ovation.
By following the P’s, Prep, Price and Presentation, you are well on your way to having a successful listing. I have put together a great team of trades, photographers and stagers to make the process as seamless as possible. If you have any questions at all about the process of listing your home, please don’t hesitate to let me know.
