I was just reading an article from Mark Nash, author of the book 1001 Tips for Buying & Selling a Home
It got me to thinking…
How are real estate buyers deciding what houses to look at? What are they looking for that would make them excited enough to make an offer? What could help speed up the process?
I talked with few prospective buyers and a few other real estate agents about this topic.
Here are five things that I believe can make a huge impact for a home seller in this market right now.
1. List Price. If your list price is off, the house is not even on the buyers radar screen. You cannot afford to be 10% off or even 5% off. You have to be as dead on and as competitive as possible from the get-go. Buyers will not waste their time even looking at overpriced listings right now. There are enough listings out there that a buyer can afford to overlook some of them if the price is not right. Get the price right. The number of showings and activity on the listing will tell you if your list price is right. No showings. No activity. Adjust the price.
2. “AS IS”. Marketing real estate listings as “as is” has got to go. No more marketing property “AS IS”. It’s a death sentence. These two words turn a buyer off big time. When a buyer sees those two words in a marketing description or on an info sheet, they think one word. “NEXT”. A buyer right now does not want to deal a defective property or a home seller that isn’t willing to negotiate. Remember that a $500 repair looks like $5000 in the buyers eyes. Don’t let it occur.
3. PRE-LIST INSPECTION. This kind of goes along with #2. As a home seller you should do a home inspection before you list the property. This does a few things. Allows the you, the seller, to be proactive on any defects that come out of the inspection. Gives the you and your Realtor confidence when marketing the property and the buyer confidence when writing an offer. Don’t let there be a tense moment occur after an inspection is done and a buyer starts having second thoughts, demanding huge repairs or asking for money back on repairs. You and and your Realtor need to be proactive.
4. NO SMOKING. Buyers hate second hand smoke and the stale smoke order that lingers in a home, even those buyers who smoke themselves. While a home is being marketed the smoking goes outside and cigarette butts don’t get left behind. This goes equally for pet odors. Make sure you shampoo carpets and repaint where need be.
5. STAGING. The property has to be ready for “OPENING NIGHT” It has to look its best, it has to show its strengths, minimize its weaknesses, and look like a house for the buyer not the home of a homeseller. It has to be depersonalized, be open, flow from room to room and yet be defined. The homebuyer should not be distracted by anything that is not the house. A blog that I like to read about staging is Real Estaging.
9 Comments
July 11, 2007 at 1:39 pm
[...] Because buyers have the power it is so important for Home Sellers to do the right things to get buyers in the door and get an acceptable offer. Five Things A Seller Can Do To Look Better For A Buyer [...]
August 16, 2007 at 10:33 am
[...] 5 Things A Seller Can Do To Look Better For A Buyer I wrote about pricing, 1. List Price. If your list price is off, the house is not even on [...]
September 7, 2007 at 5:02 pm
[...] 5 Things A Seller Can Do To Look Better To A Buyer [...]
September 11, 2007 at 1:41 pm
[...] 5 Things A Seller Can Do To Look Better [...]
September 20, 2007 at 3:02 pm
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September 28, 2007 at 2:49 pm
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September 28, 2007 at 3:21 pm
[...] 5 Things a seller can do to look better [...]
October 3, 2007 at 1:28 am
[...] Five things a Seller can do to look better [...]
October 15, 2007 at 11:34 am
[...] our blog, we added a sixth thing to our 5 things a seller can do to look better for a buyer, 1. List Price. If your list price is off, the house is not even on the buyers radar screen. You [...]