Let Potential Buyers Feel at Home!
You may think that being a host or tour guide for potential buyers who are viewing your home is a good idea. After all, who knows more about the wonderful features of your property than you do?
The problem is, buyers don’t feel the same way.
They much prefer to see your home with only a REALTOR® present. This helps them feel less like an intruder and more comfortable giving your property their full consideration.
Putting your home on the market may be the last thing you have on your mind.
But as you know, life happens. Things change. You might unexpectedly find yourself in the position of wanting or having to quickly sell your home.
It happens more often than you might think. In fact, according to studies into why people sell their homes, more than a third are due to relatively quick and unexpected changes. Something happens – a job relocation, a lifestyle change – and the homeowner finds him or herself making a move.
In these situations, the biggest source of stress is caused by the need to prepare the current home for sale.
If you’ve lived in your house for a few years, or even just a few months, you know how quickly things can pile up. The garage and basement get filled with stored items. Things needing minor repairs get put on hold.
That’s why it’s a good idea, every so often, to inspect your property and ask yourself, “If I had to put my home on the market this month, what would I need to do?” Then plan to get those things done. That way, if you suddenly find yourself wanting to sell your home quickly and for the best price, you’ll be ready.
You might have heard about home staging and wondered what it’s all about. There are even a few television reality shows that feature staging experts doing their magic on a particular house or condo.
So what exactly is it?
Home staging is simply setting up your home to maximize its appeal to potential buyers. It involves everything from cleaning and removing the clutter, to arranging the furniture and decorating. The concept was developed by Barb Schwarz, who has become a legend in the staging industry.
Think about some of the most attractive furniture showrooms you’ve visited. Remember that beautifully set table with the bottle of wine set perfectly in the middle? Did you notice the two wine glasses and place settings that made it look as if a couple were about to sit down for an enjoyable meal? That’s an example of staging.
Does staging work?
According to studies, it does. In fact, staging has been shown to help sell a home faster and for a good price. In some cases, effective staging has even increased the selling price.
Should you stage your home?
It’s definitely going to help make your property more appealing to buyers. When it comes to staging, you have a couple of choices: you can hire a professional stager, or you can stage your home on your own. A good REALTOR® can help by either recommending a stager or providing you with staging tips.
You can definitely do some or even all of the staging on your own. In fact, some of the simplest staging techniques are easy to implement. Putting fresh flowers in the kitchen is an example of staging. So is arranging furniture in a room so that it looks as bright and spacious as possible. But if you have a difficult space or you need to bring in or reorganize furniture, you may want to consider a professional.
You’ve heard the story. Someone finds a home on the market that seems underpriced, grabs it, and subsequently discovers it’s worth tens of thousands of dollars more than the selling price.
What a bargain!
The truth is, bargains like that rarely happen.
Most properties sell for somewhere close to their market value. That’s why you need to find the perfect home for you, in the right area, with a list price that is within your affordability range, and then buy that property for the lowest price your REALTOR® can negotiate.
When you shop for the right property at the right price, you have a good chance of finding and buying your dream home.
But if you go into the market with a plan to find a bargain, you risk overlooking those homes that might otherwise be great opportunities for you. Why? Because your price expectations will probably be a lot lower than the actual market prices.
The good news is that an experienced REALTOR® can help you find a home that’s perfect for you in every way: type, features, location — and price.
They say, “Home is where the heart is.” How true! That’s why, when selling your property, it’s important to realize that your home – your heart — is moving to another place. Your current property is now a product that you want to sell quickly, and for the best price possible.
Making that mental transition, however, isn’t easy. After all, you probably have at least one fond memory associated with every room in your house! Here’s a tip: Pack up the personal items, such as pictures and trophies. Rearrange the furniture. Make it look like someone else’s home.
When you let go of your emotional attachment to your property, you’ll be able to be more objective when preparing it for sale.
What do you want from an open house? Obviously, you want to attract a lot of potential buyers – and have at least a few of them become seriously interested in your property.
So how do you make your open house as successful as possible?
You probably already know the basics: make sure your house is clean, bright and uncluttered.
However, there are some other open house success tips you may not know…
Get minor repairs done. A dripping faucet, a squeaky fence door, or a scuff on the wall may seem minor to you, but these problems can stand out like a sore thumb to a potential buyer.
Brighten things up. Make sure all areas of your home are well lit. Natural light has the most appealing effect. Open all the curtains.
Put away personal items. Trophies, pictures, mementos – all remind potential home buyers that they’re strangers in someone else’s home. Make each room look as impersonal yet inviting as possible. Stage your rooms as though they were in an attractive furniture store display.
Sniff around. There are probably smells around your home that you’ve become used to, or even like, such as lingering perfume scents in the bathroom or remnant smells from cooking an exotic meal. Try to make your home as scent-free as possible.
Take your pet for a long walk. Don’t leave them in the house during the event, no matter how friendly and well-behaved they may be. Some people just don’t like pets. Others may be allergic to them.
Make sure everything works. Check for burnt out light bulbs, run-on toilets, and derailed closet doors.
A final tip: Unless it’s absolutely necessary, don’t be at the open house yourself. Your presence can be intimidating to potential home buyers, no matter how cordial and helpful you try to be.
Like taxes, traffic is a fact of life. So, when you’re shopping for a new home, consider how the road situation will affect your commute to work, access to shopping and attractions, and the ability to conveniently reach places you need to go.
After all, it’s difficult to enjoy your new home if you’re constantly sitting in traffic!
Ask your REALTOR® about known congested streets and intersections, school busing routes, and access to public transit.
You’ve spent a lot of time shopping for the perfect property. You made an offer, held your breath and – hooray! – you got the home! But now you’ve realized that you have to move in four weeks – and you’re far from prepared.
Don’t add stress to what was otherwise a smooth process. Make sure you have these things in place well in advance:
A good real estate lawyer. Selecting the right lawyer can take time, so you don’t want to leave this task to the last minute.
A reputable moving company. Start looking into moving firms right away to ensure you pick one that’s reputable, timely and will do a good job.
A contractor. Your new home may require some repairs and renovations that you want to get done right away.
Insurance. This is an easy detail to overlook. Don’t. Insurance costs can vary widely, and you want to make sure you take the time necessary, well in advance of your move, to select the right policy from the right company.
Getting these things in place in advance of your move will make the entire process go more smoothly.
There are two main reasons why homeowners invest in a home renovation or major redecorating project: They want to enjoy the results of the new kitchen, bathroom, flooring or other improvement they’ve made; and/or, they hope that the money they spend will come back to them – at least in part – when they sell their home.
So which projects are most likely to increase the resale value of a home? A story by Joanne Cleaver, featured on MoneyWatch.com last year, identified five renovation projects that give you the most bang for your renovation buck.
Floors. Old, scuffed or dated flooring tends to get noticed by home buyers, regardless of how well the rest of the room is decorated. New flooring – especially stone, ceramic tile and hardwood – can make any room look larger and more inviting.
Kitchen. When it comes to selling your home, the kitchen is one of the most important rooms. The more modern, new and spacious it looks, the faster your home will tend to sell. That’s why you can expect a pay back of up to 80% of the cost of a kitchen renovation.
Bathrooms. Who isn’t impressed by a new and gleaming bathroom with a big shower, modern faucets and other attractive décor? That’s why hotels spend so much time and money making their bathrooms look great. According to the Cleaver article, homeowners tend to get a pay back of up to 75% of the cost of a bathroom upgrade.
Closets. Any improvement that makes a closet look roomy and organized tends to result in a pay back of most of its cost. Even something as simple as installing a good closet organizer can have a dramatic effect.
Energy-saving upgrades. In this age of increasing energy costs and environmental concerns, home buyers are drawn to such features as energy-saving windows, lighting, thermostats and more.
Keep in mind that home improvements don’t just have an impact on the selling price of your home, they also help to sell your home faster.
The front door is usually the first feature of a house that buyers see and feel. How do you ensure it makes a grand first impression? That’s easy.
These may seem like little things. But they can make a big difference to the first impression your house makes on potential buyers.