Five Key Strategies to SELL Your Home

1 02 2008

1. Have Your Home Professionally Staged – According to the National Association of Realtors, the average home staging investment is between 1 and 3 percent of the home’s asking price, which can generates a return of 5 to 10 percent when you sell. For a home valued at $400,000, spending $4000 can generate a return of $20,000 to $40,000! Even spending $2000 on the simplest upgrades may help you sell your home in half the time of an unstaged home, which will save you money in mortgage payments, taxes and utilities.  In today’s competitive market, having your home staged by an expert who does this for a living is imperative.

2. Invest in Cosmetic Improvements and Repairs NOW! – According to a 2005/2006 Maritz Research Poll, 79% of sellers are willing to spend up to $5000 to get their house ready for sale. In this much more competitive market, it is critical for sellers to hire a professional home staging consultant if they are serious about selling their home!

Don’t guess at where to spend your money. Use a trained professional who is experienced at stretching your dollar for maximum impact and return! According to that same Maritz Research Poll, 63% of buyers were willing to pay more money for a home that is “move-in ready”. Buyers don’t want to purchase a “Honey Do” list.  If your house isn’t move-in ready, they’ll buy someone else’s.

3. Price Right from the Start – Make sure you price your house right instead of shooting high. When a home is newly listed, there is an introductory buzz among agents and home buyers, so take advantage of the new listing buzz by pricing right. A National Association of Realtors survey found that the longer a home stays on the market, the more it costs in ownership expenses and the further below list price it drops. Homes that sold in the first 4 weeks averaged 1% more than the list price; 4 to 12 weeks averaged 5% less; 13 to 24 weeks averaged 6.4% less than list price; and 24 weeks averaged more than 10% less than list price.

4. Strong Internet Presentation – According to the National Association of Realtors, over 85% of home buyers use the Internet to view properties, most viewing listings before considering a visit to the home and others reviewing homes they’ve visited. Isn’t it amazing that there are still listings on Realtor.com that have only a single photo or no photo altogether? And that there are dark photos and photos clearly showing cluttered rooms?  Home sellers need to wake-up to the outside marketing efforts done by their agents and insist on a strong Internet presentation if they expect any buyer traffic! A professional home staging consultant can work with your agent to provide top-notch photos and a virtual tour that shows your home in its best light.

5. Consider an Increased Buyer’s Agent Incentive
– This is a strategy for a market with a glut of homes. While sellers often try to save money on a real estate commission, there is a way to use the commission to your advantage in a competitive market.  Generally the seller’s agent will split the commission on sale with the buyer’s agent.  Sometimes it pays to incentivize buyer’s agents to bring buyers to your home by raising the total commission by .5 or 1% and directing the extra amount to be paid to the buyer’s agent. Think about it. Agents have many choices as to what they will show their clients. Wouldn’t an agent want buyers to see a move-in ready, professionally staged home that also offered a nice commission incentive?

These strategies take time, money and energy but no one said selling your home was easy in a buyers’ market. Don’t waste time “waiting for the right buyer”. Use these five marketing strategies to sell your home faster.  Call The Staging Prince, a homeowners’ consultant, for information and advice: 845-875-4561.

Advertisements

Actions

Information

5 responses

28 11 2009
shirin sarikhani, ASP

I just came across your blog; you make very important points. I really like the fact that you used the word “investment” in your blog. As a home stager, I always try to educate my clients that staging is not an expense, but an investment.

By taking care of the cosmetic needs of the homes, both inside and outside, professionally staging and photographing their property, home sellers have given their home the competitive edge. Numbers don’t lie 85% of home buyers are under 35 years old and they are internet shoppers.

Putting homes on the market is like going to a beauty competition and the best one wins.

Shirin Sarikhani, ASP
Seattle Staged To Sell
http://www.seattlestagedtosell.com

22 06 2008
fortsmithrealestate

These are some great tips that I think many more sellers sould use. Great suggestions, and love the blog site!!!

3 02 2008
cindy*staged4more

Hey lady

Would you submit this to the Blog Carnival for Home Staging? I think it will be a great addition.

http://blogcarnival.com/bc/submit_2606.html

Cheers,
Cindy

2 02 2008
Yvonne Root

Oh my gosh M. This popped up on my alert this morning and I just kept thinking it was incredibly timely. You have really put it simply enough for even me to understand the stats. The right brained character that I am has a hard time with numbers. Now I get it! Thanks

1 02 2008
Allen Taylor

I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you.

Allen Taylor

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




%d bloggers like this: