Looking To Sell Your Home?
Here is the Secret Strategy That Will Net You The Most Money in the Least Amount of Time.
SELL YOUR HOME FOR MORE MONEY IN LESS TIME
By: David Collins Realtor ERA American Investments Beverly Hills, FL 34465 352-422-5297
When selling your home there are Four Important Decisions that you must make to sell your home for more money in less time. The following might seem simple but it’s more about execution versus a more complex strategy. So with no further ado, here are the four decisions and a few notes about each one.
FIRST- You must select the right agent.
SECOND- with that agent, discuss and determine the best price at which to put your home on the market. (Selecting the right price at the start most often results in a faster sale and more money in your pocket.)
THIRD- With that agent, discuss and determine the commission that will cause the most showings and the best offers. Commissions are not the expense most people think they are. They are a marketing tool. Selecting the right commission will increase your chances for a faster sale and more money in your pocket.
FOURTH- with that agent, discuss advantages of staging and condition of your home. Regardless of how updated your home is, the right staging can put more money in your pocket.
SELECTING THE RIGHT AGENT
There are two kinds of real estate agents: Buyers’ agents and Sellers’ agents. Buyers’ agents represent buyers while Sellers’ Agents represent sellers. Most agents are more comfortable with buyers and don’t understand all the skills needed to represent the seller. With that being said, an above average Sellers’ Agent has eight key services that they will provide for you.
One- Helping you prepare your home for sale.
Two- Helping you select the right listing price.
Three- Helping you select the right commission to offer.
Four- Helping you select the right staging.
Five- Exposing your home to potential buyers
Six- Providing constant progress reports
Seven- Negotiating on your behalf
Eight- Facilitating the closing process.
VERY IMPORTANT POINT- Very few agents consistently outperform the average. Homeowners often expect to see some major difference, something totally new or unique, between an above average agent and an average agent. So many competitions, sports or business are won by slight edges, so don’t look for a magic wand. Look instead for attention to big and small details.
Races are won by slight edges. Take Reason Five for example. Most agents simple post our listing on the Multiple Listing Service (MLS) and hope other agents will show it. Better agents market your listing to the other agents who are members of the MLS. They make sure the top buyers agents know about your property. That’s important because there are almost always a lot more homes for sale than there are current potential buyers. By marketing your home listing to the top local agents you will see more showings and better offers. That will mean more money in your pocket. (Never take your eye of the goal.) Also top agents understand how to market your home via Zillow, Realtor.com and Trulia along with all the other social media channels since 70% of Citrus County’s buyers come from other areas of the country. Internet presence and know how today is more valuable than newspaper print advertising was in the 1970’s. (Yes, newspapers are archaic when marketing your home.)
Reason Six is huge. The average agent usually presents a less than full price offer to you and asks what you want to do. The above average agent has the skills to negotiate on your behalf and get a higher selling price. The difference in negotiation skills can mean thousands of extra dollars in your pocket… AND a much faster sale.
Reason One is a critically important first step. Let’s take a good look at how the right agent can help you prepare your home for sale.
CAUTION- Homeowners often expect to see some major difference, something totally new or unique, between and above average agent and an average agent. As noted previously, races are won by slight edges, so don’t look for a magic wand. Look instead for attention to big and small details.
As you interview agents, slight edges will be the key. Look for steps they take that other agents don’t take and small things they do a bit better. Above average agents are better prepared and pay attention to detail. For example, because of their experience, above average agents know the reasons people do not buy as well as the reasons they do. You know the expression: we never get a second chance to make a good first impression. Most buyers are concerned about getting ample closet space, yet many people keep so many cloths in the closet it tends to make the closet look small and unsatisfactory, turning away an otherwise interested buyer. Over-crowded closets also indicate inadequate storage space throughout the house and again turn away an otherwise good prospective buyer.
Another example: After six months on the market with few showings and no offers, a certain listing expired. The sellers followed my advice and improves the curb appeal as well as made a number of minor adjustments to the interior. The home sold in just one week for a higher price than was previously asked. What made this happen? There’s a lot more to selling a home than just putting a sign on the lawn, an ad in the local newspaper, a posting in the local MLS, and waiting for buyers to come. Why? On average, buyers inspect 20 homes before deciding. That means 19 other homes are competing against yours. AND, this does not take into account if they are looking at other areas of Florida. When potential buyers look at five homes and yours is one of those, then in their minds your home is competing against four other homes. And when they look at twenty homes, you home will be competing against nineteen other homes. However many homes buyers look at, they will buy the home they like the best. They will buy the home with the greatest sales appeal. In all likelihood they will buy the home that gives the best first impression. Therefore, the right agent, with a goal for a faster than average sale at an above average selling price, will focus on the details that will assure your home has the greatest sales appeal and gives potential buyers a good first impression.
The average agent makes a few suggestions; the above average agent will make many suggestions including, when needed, engaging a professional home staging expert. Average salespeople sell features. Above average salespeople sell benefits, value and solutions. In the absence of value, potential buyers will always focus on price, which is not good for the seller. When benefits and value are presented correctly, prices becomes a detail.
Here is a perfect example: Almost all agents prepare a feature sheet when listing a home. The above average agent simply does it better. Better layout, better quality paper, better font selection, better print job, a better visual effect over all, and benefits as well as features. Why is this important? Consider the potential buyers who see 12 homes that all fit their needs and are now sitting at home, in a hotel restaurant reviewing the feature sheets they picked up during the day. As they try to make a decision, that simple feature sheet now represents your home. That simple feature sheet can have a direct bearing on how a potential buyer may feel about your house over another one. Want to win a race? Select an agent who pays attention to details.
Here’s another important point. Unless you live in a remote area that has just a few real estate agencies, there are usually about 80 active salespeople in any given marketing area. Any one of them could find a potential buyer for your home. In fact, there is a 79 to 1 chance the buyer for your home will be found by an agent other than the one you list with. That means to sell a home once it has to be sold twice. First, your agent has to sell it to the agents in your area so they select it as a home their buyers should be. Then it has to sold to the buyers. If local agents don’t see your home as a likely sale, they won’t show it. The right price and commission will attract local agents while a too high price and/or at too low commission will repel local agents.
On average, in Citrus County, a buyer will have over 20 homes to preview. Here’s how that affects you; A potential buyer in your market area is ready to buy their next home and wants to do so quickly. Your
home fits their needs perfectly. The buyer tells their real estate agent (79 to 1 chance it’s not the agent who listed your home) what they are looking for. That agent puts the data into the MLS and an average of 33 homes pop up. The agent picks six homes as a starting point. Your home is not one of them. The buyer likes the fourth home well enough and makes an offer. The sellers accept. That buyer is off the market having never seen your home yet mostly likely would have bought your home had he seen it. Here’s the challenge: how do you get your home on the short list of homes to show when the local agents enter the buyers list of wants and needs in the MLS and up pop 33 acceptable homes, yours included? What’s the solution? Remember the 4 Important Decisions previously discussed: Select the right agent, the right price, the right commission, and the right staging. If you make these four decisions correctly, your agent can then market your home TO THE AGENTS in the MLS and not just post your listing on the MLS.
Be clear on this: having your home listed on the MLS is like putting a business ad in the Yellow Pages. It’s posted, but who sees it? What or who drives traffic to your ad? When you make the 4 Important Decisions correctly, your above average agent can market your listing to the agent members of the MLS. They will bring more potential buyers. Can you see how this would give you a slight edge advantage?
Here’s something else. As mentioned above, there are usually about 80 active salespeople in any given marketing area. Any one of them could find a potential buyer for your home. The problem is, not all sales agents show a home the same way. As a matter of fact, some don’t show a home completely or at all. They may bring a potential buyer to your home, but they may not point out all of the good features in your home. Some just let theirs buyers discover the features and benefits of the home on their own. Perhaps they are new agents who have not been taught how to show a home. Perhaps it’s an experienced agent who thinks that a different home would be better for their client and is not expressing any enthusiasm regarding your house. It’s also easy for a potential buyer or agent to focus on one good feature and completely overlook another. Finally, buying a home is as much an emotional decision as a logical one. To make sure all potential buyers find and appreciate all of the good features and benefits in your home, regardless of how well or poorly an agent may show your home, many above average agents make Highlight Cards to draw attention to those features and benefits. These cards are usually large enough with big enough print to be seen across the room. As one experienced agent said, potential buyers should not have to walk up close and put their bifocals in low gear to read a high light card.
Another Important Point- Today you need to be concerned about Picture Appeal as well as Curb Appeal. The Internet permits agents and potential buyers to scan hundreds of homes at the click of a mouse. With limited time and hundreds of choices, agents and potential buyers can only afford to give each posting a quick scan. The quality of the posted pictures will have a direct effect on the number of requests for showings. An above average agent will have clear, sharp photos of your home on their internet postings for your house. They will have taken special training and used a high resolution camera or had a professional take the pictures. Average agents often use cameras that produce less than sharp photos on the internet. You will even see photos on the internet that have quite obviously been taken on a cell phone. One more time….. Races are won by slight edges. At about this point in an agent interview, you should expect an above average agent to ask if you see how you will benefit by having them represent you in the sale of your home. If your answer is yes, they will begin filling out the listing agreement and prepare to discuss price, commission and staging.
A Very Important Concept. List First, Price Second, Commission Third
Many sellers want to know the price or commission before agreeing to list. With all due respect, that is exactly the wrong process. It will cost you money, not make you money.
To get a faster than average sale at an above average selling price, always select your agent based on their marketing strategy. After you agree to have them represent you, then discuss and select the price, the commission and the staging…. In That Order.
Here is a winning strategy:
-Select an agent who has a strategy to get a faster than average sale at an above average price.
-Select a listing price that will cause buyers to favorite it on Zillow and agents to show your home.
-Offer an above average commission that will cause even more agents to enthusiastically show your home.
-Stage your home so potential buyers and their agents say “WOW!”
You will have given yourself a 99% chance for the fastest sale at a price that will put an extra 1% or more in your pocket. You can do the math: an extra 1% in your pocket on a $300,000 sale is $3,000. And…. Getting your home sold 30 to 60 days faster than average means less stress and more peace of mind. As they say in some places… not a bad day at the races.
SELECTING THE RIGHT PRICE
When you put your home up for sale, you have 5 pricing choices. These are:
-Sell at Highest Value
The logical question is: Where do you want to price your home? Very few sellers will price it too low and will give away precious dollars while most sellers will price it above market and have to reduce their price at least once or numerous times. These sellers on average net less because negotiating time is negotiating strength. Most sellers who price too high get frustrated and ultimately settle for a lower offer. The other issue that I see is that after the initial contract has been agreed upon, the second round of negotiations is after the inspections have been done and if the buyer feels they are the only ones that have made an offer, they will be much more aggressive when it comes to asking for repairs. On the other hand, if the home is priced more competitively, the buyer feels that they don’t have the leverage to ask for repairs because if they walked away, the sellers could sell the home very quickly again. Bottom line, with over 100 homes sold as the listing agent, I have found that the better the price of the home out of the gate, the better the overall closing experience that the seller has. A lot less stress….
IMPORTANT PRICING CONSIDERATION- FACTS vs OPINION
My mentor, who sold nearly 90% of the homes he listed (60% is average), told me most sellers will ask him what he thought the home would sell for, he always answered, “What I think your home is worth has no merit whatsoever. The only thing that counts is what people are willing to pay for this kind of home, in this area, at this time.” This is the absolute truth. It doesn’t matter what you paid for your home or how much you need to net, it all boils down to what the market is willing to pay for it. And I will add that most overpriced homes that ultimately sell, sell at a much lower price than the listed price. You heard the adage, you can’t fool Mother Nature, it is the same here, you can’t fool the market.
When it is time to discuss price, the best agents present evidence in three groups: similar homes recently sold to show what people are willing to pay, similar listings that are on the market, and similar listings that have expired so you can see what people are not willing to pay.
Most sellers’ instincts are to price in the upper middle or higher end of the homes that are currently listed thinking that they need a bit of wiggle room. This strategy has been used from the beginning of time because most sellers think they can get more than the average but after a few months they realize that they need to get more aggressive with the price and so the reduce and things happen while the best homes on where they are headed are appreciating. So ultimately, their net is lower.
The above average strategy is to as follows: They select a listing price slightly less than the average of the currently-for-sale group and slightly more than the average of the recently-sold group. There is on average, a 5% to 6% spread between the average of recent sales and the average of currently-for-sale properties. This ideal listing price is half way between. Here’s how it works: by pricing slightly lower than
the competition, more potential buyers will want to see your home and more agents will encourage their potential buyers to see your home. Because of the extra activity you will have a better chance of a full price offer that is slightly higher than the recent sales.
This works! Human nature is involved. Real estate agents look for the best buys for their potential buyers; potential buyers are looking for the best value. By selecting this strategy, you will have a better chance of getting more than what has recently sold and you will do it in less time.
Here’s some research that confirms that pricing right in the first place works best. The study was titled, “The Effect of Price on the Percentage of Homes That Sell in a Given Time Frame.” A one year study of over 1,000 homes showed that when a home was priced from 0-3% above the average of similar homes recently sold, 85% sold within 90 days.
When a home was priced 4-7% above the average of similar homes recently sold, only 55% sold within 90 days.
When a home was priced 8% or more above the average of similar homes recently sold, only 20% sold within 90 days.
What would work best for you, a 20% chance, a 55% chance, or an 85% chance?
By the way, the sellers who price 8% or more above recent sales didn’t get their asking prices. All had to make price reductions or had to accept realistic offers.
And consider this reality: pricing 20% above the amount buyers are willing to pay is also pricing 20% above what banks are willing to lend. Yes, even if you had a buyer offer the listing price, the appraisal is probably going to come back undervalued.
This leads to another key point…. When folks put their homes up for sale, they often get stuck on a certain price. They believe with all their hearts that their house should be worth $_______ because of ____ or _____ or _____.
When an informed agent shows them recent sales and current competition, their reaction is to get more opinions. Some sellers fell that they will be better with an agent who believes they can somehow sell at the inflated price.
The truth is that if you shop around long enough, you can find an agent who is hungry for a listing and will take your listing at any price. Obviously, these are not your above average agents. These are not agents who are capable of helping you get your home sold.
If you are inclined to try to get more for your house by asking more than your competition, consider these four facts.
The first problem is- It’s hard to other agents excited about your home. Their most valuable asset is their time and they do not want to take the time to show an overpriced home.
The second problem is- it’s hard to get good buyers to look. Even if an agent is willing to show your home, it’s hard to get good buyers to look. Serious, qualified buyers will find better value in another home.
The third problem is- even when potential buyers do look, it’s hard to get offers made. Serious, qualified buyers with a sense of urgency don’t want to tie up their deposit money for even one day on what they think is a hopeless cause or long, drawn out negotiation. Some potential buyers won’t make offers on overpriced listing because they don’t want to insult the seller.
And the fourth problem is the killer- it’s hard to get financing. Even if you find a buyer willing to pay your inflated asking price, where are the buyers going to get financing? Lenders know what most people are willing to pay for your kind of home at the time it sells. They are willing to finance 70% or 80% of the current appraisal, not an inflated agreement of sale.
A good reality check- If there are no showings, it means that agents don’t see the value at the asking price. If there are showings but no offers, potential buyers don’t see the value.
Some sellers initially overprice because they feel the need to have negotiation room. The problem here is that when you give yourself negotiating room, you usually lose negotiating strength.
Think it through, you add 5% or 10% to give yourself negotiating room. The extra asking price results in fewer showings. Your deadline or frustration level rises and you finally get an offer, but it is 5% below the average of recent sales. You have seen numerous homes that you want to purchase go pending along with market appreciating and the only offer you have is a low one.
A better strategy is to price slightly less than the average of similar homes currently for sale and hold firm on your price. You are better off countering all offers at full price than not having any offers to counter.
Here is an example of the penalty of overpricing. Two nearly identical homes on two identical lot sizes on two adjacent streets, Maple and Elm went on the market a week apart. The owner of the house on Elm want negotiating room. He insisted on a price of $190,000 saying, “Bring me offers. I will negotiate.”
At that time the average of similar homes currently for sale was $171,000. He was $19,000 above his competition. Three months later, having no showings and his yard getting overgrown because it was hot outside, he reduced the price to $172,000. Still leaving a bit of negotiating room, he again said, “Bring me offers, I will negotiate.”
How do you negotiate when no one makes an offer?
For the next two months there were a number of showings but no offers. Finally, he was presented with his first offer- $158,000. He had now paying his lawn guy a lot more money to keep his yard in good condition and more importantly, homes that he liked on Zillow were getting sold. He tried to get the buyer to come up on the price but with other homes on the market, he had to accept the offer.
During this five month period the average selling prices were $163,000. It took him 5 months to come up with the $5,000 less than the average selling price of $163,000. Now let’s see what happened on Maple. The owner decided to price his home at $168,000; $3,000 under the average asking price. Within days he had multiple showings and in 2 weeks he received a full price offer. So it took Maple 2 weeks to get a $5,000 gain over the average selling prices for that area, and it took Elm five months to come up with $5,000 less. OUCH…..
Why does this happen? Very simple, when buyers see good value in a home, they will rush to make a very good offer because they are afraid of LOSING the home. They also have very little leverage when it comes to the inspections and repairs because, again, they know if they put up a stink about repairs, the sellers can replace them in a heartbeat. Think Black Friday or a Costco Trip. When you see something of good value, you make the purchase and usually buy more. Same idea here. Fear of loss is probably the strongest motivator, use it to your advantage.
If you are still struggling with the difference between what you want to sell your home for and what current selling prices actually are, ask yourself these two questions….
What happens if no one will pay the price I am asking, what will I do?
Suppose the best offer is at or near the average of recent sales, would I accept it?
Almost every experienced agent will tell you that you will have the best chance for a faster sale for a better price by listing it in the competitive range right away.
PLEASE NOTE- I have examples of both types of sales and you will see that the homes that sold quickly, sold for much closer to the asking price while the homes that sat on the market took a bigger markdown. You will know right away if your home is priced correctly and if not, get it priced correctly because these change, even in sellers’ markets. I will also add that the homes that got less of a sales price/longer on market were much more stressful for the seller during the contract to close period.
SELECTING THE RIGHT COMMISSION
Assuming you have just made a good decision on the listing price, let’s now see about making a good decision on the commission. Reminder: You have four important decisions to get a faster than average sale at an above average price- the right agent, the right price, the right commission, and the right staging. In this chapter we will focus on selecting the right commission. The first commission question:
which is more important- how much commission you offer, or how much money you net? We say offer because you don’t actually pay the commissions. Buyers pay the commissions. There is both logic and proof to support this.
First the logic: When you buy a car from an auto dealer, the salesperson collects his commission from the dealer, but who actually pays the commission? Where does the money come from? You know the answer. It comes from the buyer. The commission for the salesperson is built into the selling price. It’s the same for anything or any service you buy. When salespeople are involved, the salespeople collect their commissions from the store or service company, but the buyers actually pay. The same thing is true for real estate: The commission is collected from the seller, but the buyer actually pays. Always has been, is now, and forever will be. Here is the proof. There are only two ways to sell a home: through a real estate agency or directly to a buyer.
A comprehensive ten year study showed that sellers who used a real estate agent to sell the homes grossed (sold for) an average of 9.5% more than similar homes sold directly to buyers. Since the average commission was 6%, two things happened. First, the buyers paid the entire commission, and second, they paid enough to put an extra 3.5% in the sellers’ pockets.
Now you will think I’m crazy. Here’s the good news! You can do even better. How would you like to give yourself a good chance of netting an extra 1% and at the same time get your home sold even faster? The best way to do that is to give local agents an extra incentive to show your home more often and with more enthusiasm. The experience of many agents over many years is offering 1% more than the local average commission usually results in at least 2% increase in the selling price. RESULT: 1% goes to the two agents that made the sale happen and 1% goes directly in your pocket as extra net. And who paid the bonus? The buyer!
Here’s another way to look at the advantage of offering an above average commission. If you offered something for sale at an auction and only one person wanted it, most likely any offer would be a low one, isn’t that right? If three people wanted it, you would get higher bids, and if ten people wanted it you would get even higher bids, true? That’s the power of offering a BONUS COMMISSION. You improve your chances that more agents show your home, more buyers see your home, and better offers are made. But…. But…. But…. You Say. There are local agents willing to take your listing at a 2%, 3%, and even a 4% discount. If your home would actually sell for the same price and in the same amount of time, regardless of who sells it, then listing with a discount agent would make perfect sense. In fact, selling the home for sale by owner would make perfect sense. But consider this: discount agents usually take shortcuts. They offer less service or are weaker and often desperate agents. As a result, fewer potential buyers see your home. And those potential buyers are usually discount-minded buyers who make discount offers. How can you expect to get full value for your home when all you get to talk to are a few buyers looking for a discount?
When you analyze all the facts and understand why full service agents, and especially skilled full service agents, who are focused on getting their clients faster than average sales at above average prices, then selling through a discount agent makes no sense at all. Many such sellers discovered- too late that they saved $5,000 in commission and lost $10,000 in the selling price.
It’s simple and it’s about human nature. Above average commissions bring more and better offers. Discounts commissions are accepted by weaker sales agents who bring discount-minded buyers. These agents generally provide less service than full service agents. Be very wary of any agent willing to list your home at a discount commission. Think about where you currently work or someplace you worked at one time. If the employees were asked to take a 30% or 40% pay cut, what do you think would happen to their daily productivity?
Just in case you don’t know, real estate commissions are generally split 50/50 between the listing side and the buyer side. So if the average commission offered in your area is 6%, the listing agencies get 3% and the buyers’ agencies get 3%. Now, think this out. If the most frequent commission offered is 6% and
you are talking to an agent who is offering or willing to list your house at 4%, their half of the commission will be 2%. That’s a 33% pay cut. So ask yourself this: what commission do you they would rather have? Some weaker agents will agree to a 4% commission and offer 2.5% or even 3% to the selling agent. Now they are working for just 1% or 1.5%
Consider this: If some agents don’t have the sales strength to negotiate their own commission, how much strength will they have negotiating for you when a low offer is presented? That’s why sellers who use discount agents often discover that they saved $5,000 in commission and lost $10,000 in the selling price. And it could get worse. When it takes longer to sell your home, which it often does using weaker agents, you may have other expenses that eat away at net. It often takes sellers an extra 90 days or more to sell through agents who discount. Even if you do not have a mortgage, this is costing you money because where you are going is appreciating, meaning you are not going to get as much home. The best homes are selling fast while you wait for the market to catch up to your home but what happens is that you get frustrated and lower your price. Your net goes down while your next home gets less interesting.
Here are two more “consider this” questions: What will it cost it takes an extra 3 to 6 months to get your home sold? Can you afford to list with a discount agent.
To Net More, Be Aggressive. In the final analysis, commission is not a liability or an expense. IT IS MARKETING TOOL. The commission you select can be a magnet that attracts the agents who have potential buyers, it can be neutral, or it can be a repellent that keeps agents away. If the best agent you can find doesn’t recommend an above average commission, offer it yourself. Be bold. Be aggressive. Its your house. It’s your money. Ask yourself, “What commission rate do I think will be a magnet that attracts more agents, brings the most potential buyers, and creates the conditions for the highest offers?” Historically, offering 1% more in commission brings 2% or more in the selling price.
SELECTING THE RIGHT STAGING
Decorating is not the same as Staging. Decorating prepares a home for the enjoyment of the present owners. Staging prepares a home for the expectations of the next owners. Staging broadens the number of potential buyers who will consider our house as the right home for them.
With rare exceptions, every home will benefit from staging, even very simple and humble homes. Remember, one man’s junk is another man’s treasure. A very simple and humble home is an up-grade for someone, and people pay more for things that are bright and shiny. The number one reason you want to stage your home is: EVERYBODY WANTS WHAT EVERYBODY WANTS. NOBODY WANTS WHAT NOBODY WANTS. It’s human nature at work. How else can you explain Pet Rocks and Hula Hoops? Or why, when the restaurant is jammed, more people want in.
Potential buyers will form an opinion of your home in less than 90 seconds. Statistics show that professionally staged homes sell in half the time- and sometimes for as high as 15% more than unstaged properties. You can have this phenomenon work for you. The more people who say “WOW” when they see your home, the more likely it is that more people will want to see your home.
Enthusiasm is contagious. So is apathy. The reasons for staging are:
-Maximize the “WOW”- This is great!” factor.
-Help potential buyers fall in love with this house.
-Encourage local agents to bring more buyers.
-Encourage agents to show the home with much more enthusiasm.
-Increase the potential to generate higher offers.
-Broaden the attraction to bring as many potential buyers as possible.
-Help potential buyers see the home, not the stuff in it.
-Make the house as photogenic as possible because most buyers start their search online.
The benefits of staging are:
-Increased perceived value.
-Buyers and agents more likely to think, “This is nice.”
-Cause agents to encourage potential buyers to buy.
-Agents prompted to show a home more frequently.
-Homes generally sell for more.
-Costs less than a price reduction
AND STAGING IS A GREAT INVESTMENT.
Typical staging investment- $400.00
Typical Increased Selling Price- $1,500 – $2,500
Return on Investment- 500% – 600%
Speaking of Return on Investment, what’s the first thing auto dealers do when they take used cars as trade ins? It’s called detailing. Why? People pay more for things that are clean, bright and shiny. A $150 investment in detaining a used car usually brings an extra $300 to $500 when it sells. You can do the same when selling your home.
Some Advice From an Experienced Home Stager
“Most advice on how to prepare your house for sale involves how the property will look to a potential buyer. Appearance, of course, is very important if you want to sell the house quickly and for the best price. But there are three other senses you have to satisfy as well.
SOUND- Check for squeaks and creaks in the floor, a rattling washer or dryer, or any other unpleasant noise. You may no longer notice these sounds, but potential buyers will.
SMELL- You may love the aroma of exotic cooking, but visitors may not. Also check for other obvious sources of odors: such as ashtrays, laundry hampers, garbage bins, and toilets.
TOUCH- Make sure countertops, door handles, floors, and other surfaces are free of dust and dirt. If potential buyers feel the need to wipe their hands after touching something, they won’t leave with a good impression.
Appealing to all the senses helps ensure your house shows well.
MORE FREE TIPS FOR SUCCESSFUL HOME STAGING.
-De-clutter the entry way: It’s the portal of passage between home and the outer world. For the family, it’s the place from which they launch themselves each day and hit the road: for guests and visitors, it’s the place where they form their first impression of the house or condo that lies behind that front door. Make the most out of the wall space for storage, use storage solutions to contain the clutter, place entrance mats on both sides of the door to keep floors clean, and if the hallway isn’t wide enough for a side table, ditch it.
-Hang mirrors: Mirrors can be one of the best tools to enlarge smaller rooms as they trick the human eye into feeling an expanded living area.
-In tiny rooms (like bathrooms) paint the ceiling the same color as the walls: (Ideally light) this enables your eye to travel continuously around the space, making the room appear more spacious. When you use different colors, your eye stops at where the color changes. This makes the edges and therefore the size of the room, more apparent. You see the boundaries. With the same color, you don’t see boundaries and the space seems to continue.
-Use Glass Furniture- Ingenious use of plain glass can help to create the illusion of space. Glass-topped tables look less bulky than solid ones. Glass shelves are light and unobtrusive and ideal for displaying delicate ornaments.
-Make Pathways- Arranging furniture is mostly about using empty space around your furniture to create flow in your floor plan. You want people to move around comfortably without bumping into furniture and sit down comfortably without gazing their knees or feeling hemmed in.
Buying a home is mostly an emotional event and we never get a second chance to make a good first impression. Will your home trigger a “This is nice” or an Uh-oh, lots of work to do here” response?
Vacant Homes- If you are selling a vacated house, consider Electronic Staging for promotional materials and on-line listings. Electronic Staging is the process of taking digital photos of empty rooms and inserting digital furniture and decorations. (To avoid charges of misrepresentation, add the disclaimer, “Images have been professionally rendered.”
Selling a home is like having four tires on a car that work correctly. I always ask, how long does it take to get from Citrus County to Tampa International Airport and the average answer is 1.5 hours. Well, what happens if you have a flat tire? It takes you much longer, you potentially miss your flight and numerous other challenges. (All making you reach into your pocket for your credit card.)
As mentioned selling a home can be easy if your four tires, right agent, right price, right commission, and right staging are functioning correctly. Selling a home can be difficult, just like your trip to the airport if one of the tires does not function properly.
Bottom line- If someone could get you a ton more money or do it cheaper, they would have all the listings in the world. Yes, think about it. Walmart is better than Kmart. Publix is better than Winn Dixie. Those two businesses have tremendous market share vs the other two retailers because they are better.
I have very good market share on The Ridge and it is only growing because I am an exceptional agent that executes the plan that is talked about above. BUT, I cannot get you a ridiculous amount more for your home or I cannot do it for less commission. To do the job correctly, all four “tires” have to be working correctly.
Thank you for reading.
If you have any questions or need to sell your home, call me, David Collins at 352-422-5297
Do you want to know what your home is worth? Would you like valuable information on how to sell your home for more money or what happens from Contract to Close? CLICK HERE and fill out the Form and I will send you all this information.
WHY IS THE CENTRAL RIDGE IN CITRUS COUNTY, FLORIDA'S BEST KEPT SECRET?
So many fun things to do all at your finger tips and the value is incredible....
-It’s Incredibly Beautiful
There is so much more…… CLICK HERE FOR THE FULL STORY
LOOKING TO SELL YOUR HOME?
David Collins Is The Go To Agent To Get The Job Done Right.
To sell your home on time for the most MONEY, you need a sharp agent with a marketing strategy that creates the most demand. Bottom Line- You need a partner willing to put their own money on the line for YOU!
“David had our home under contract in 2 weeks. His aggressive marketing got many showings and an offer that was 2% from listing price.” Dan and Tracy Yale
“If you want communication, David is your man. If you want follow-up, David is your man. If you want your home sold quickly and for the right price, David is your man.” Bill and Donna Leary
I can go on and on but I will make three promises:
-I will put my Marketing Strategy to work for you which will expose your home to more qualified buyers.
-I will communicate with you throughout the process.
-I will make the whole process as seamless as possible.
If you want RESULTS, please call David Collins, Today. 352-422-5297