SELLING YOUR HOME

Preparation + Opportunity = Success

These days, selling your property means pulling out all the stops.

When selling your home, marketing is key. Before you can take any photos, shoot videos or schedule in-person showings, you must prepare.

Ben Franklin’s wisdom is especially true in real estate. Recent market trends made it seem like any property will sell for top dollar with little or no effort. Top agents know that the key factor which ensures a home seller will not only get the best price but also the most favorable terms is contained in one word.

Urgency.

It’s is the feeling a buyer gets when entering a house and thinking…

“Wow… this is amazing.”

Urgency is the force that drives a buyer to make sure their first offer is strong enough to hopefully get accepted without any further negotiation.

It’s is the dread in the pit of a buyer’s stomach that says

“This is going to sell. Quickly”.

“We must act now. We can’t lose this house!”

In short, Urgency is your friend – if you are the seller. And to create this urgency, you must understand the current dynamics of your local market and how to increase the sense of urgency for every one of your potential buyers. This means that a smart seller will prepare their home for market with careful consideration and coaching from a real estate professional.

PREPARING FOR MARKET

While selling your home many homeowners believe that potential buyers can easily “overlook” things like the need for minor repairs, clutter and cosmetic updates, often they cannot.

No matter what the market conditions, a homeowner wanting to sell quickly and for top dollar knows there is essential work to be done prior to listing. No matter what the market conditions, to succeed you must prepare your home for sale… 

Remember the saying ‘you only have one chance to make a first impression’? Good – memorize that. The problem is that many of us, having lived in our homes for many years, cannot always “see” the repairs, clutter and cosmetics that are at issue but which are painfully obvious to the stranger who sees the property for the first time. Be assured, they will not “overlook” these things, however, they may choose to “overlook” your house because of them.

“We’re glad to help homeowners who ask ‘What should I be paying most attention to when preparing for resale?’ We do it all the time,” said Thomas McCormack, Senior Partner and Broker of Resources Real Estate.

It is important to remember that all of these efforts to improve the first impressions are leading up to the professional photo session. One thing’s for sure, you do not want to discover these property flaws ‘captured in time’ after the photographer has finished. While photo editing is possible, it can be time-consuming and expensive. Complete the work done before the photographer is on your doorstep.

STAGING

But it’s not only about the visuals when selling your home.

Many buyers are disappointed when first arriving at a home. Having been enchanted by the marketing photos, sometimes they discover a home in need of a lot of work. Sometimes a home is cleverly disguised to look bigger and better than it actually is. Some compare it to a dating app where the photos don’t exactly match the prospective partner upon first meeting.

Make sure that your home is staged to put it in its best light for buyer showings as well as the marketing images. The goal is to create an experience for the prospective buyer. Good staging, whether coordinated by a professional stager, your agent or yourself, amounts to creating that experience.

Remember, selling your home is not the same as living in it. You and your co- habitants will need to adjust your lifestyle until the house is sold. It is best not to fight it but rather focus everyone on the goal.

GETTING STARTED

The aim is to create an attractive ‘blank canvas’ that enables property viewers to imagine their own belongings arrayed in your home.

You also want to convey the idea that buyers can move right into a flawless and beautifully presented home.

TIP: One goal of staging is to pull focus to items that the new owners will enjoy like the fireplace or kitchen island, rather than personal items which will not convey like furniture and artwork. Remove or minimize their ability to be the center of attention upon entering the room. Start your list: Check for any small but obvious defects and signs of wear and tear. Scrub the lightswitch covers. Update finishes with fresh paint, replace worn furnishings and get features such as light fixtures and window frames fixed as necessary. Consider repainting rooms with paint colors which are on-trend. Remove wallpaper. Not everything has to be a total re-do: sometimes something as simple as changing the knobs on a bathroom vanity or kitchen cabinets can make a noticeable difference. This is also a good time to remove any fixtures which may be excluded from the sale so as to not cause confusion (or undue envy) in the minds of the buyer. Again, selling your home is not the same as living in it.

TIP: Anything which is affixed to the property (e.g. nailed or screwed into the structure) is considered a “fixture” and a part of the “real property” being sold. Example: Drapery rods are fixtures, drapes are not. Be clear if any items are to be excluded and likewise, clarify items such as bookcases and large mirrors for which it may not be clear if they are affixed or not. Also, do not presume that a buyer will want you to leave any personal items; if you would prefer to leave them, see if it can be negotiated as part of the sale. Otherwise ask the buyer’s preferences and comply. This includes cans of paint used in the home, tools, and home decor.

Lastly, remove as many personal belongings from view as possible. Sadly, that may include items such as much-loved artwork and personal photos.

TIP: Visit some home furnishings stores like Pottery Barn and Renovation Hardware to get a sense of what an effective “pared down” staged look might be.

TELL ME A STORY

To help with ‘storytelling’ the home’s true potential, it can be helpful to restore rooms to common uses that would appeal to more buyers such as turning a home office, gaming or craft room back into a bedroom. Buyers can be incredibly literal when viewing a home and it is smart to make it very clear what each room was designed for originally. If this means you need to acquire some furniture, ask around, visit thrift stores, or stage it minimally with something that suggests the appropriate room layout without including a full complement of furniture. (We’ve seen effectively ‘staged’ beds made from boxes and bed linens.)

CLUTTER, CLUTTER EVERYWHERE

We get it: we have stuff too.

But keep your eyes on the prize… you are moving. With that in mind, begin the process of packing now as well as tossing out, gifting and donating personal items which will not be making the next move. Don’t procrastinate. This is frequently one of the biggest challenges for home sellers. Your clutter is often tied to memories. This can make this process a very emotional experience. 

TIP: Ask a friend to help declutter, someone who is empathetic but will help keep focus so you can make progress. And learn to be ruthless – no one wants your collections. If you think they have value, research experts who might have an interest and purchase the whole lot. If you think a family member or friend may want something, ask now! You’ve got a lot of work to do and this will slow you down! Don’t imagine clutter can be assigned to garages, attics or basements. Visitors will be looking there too, take unnecessary furniture and other items off site. A short-term storage facility is recommended but only for items that you are going to need in your new home! Be ruthless and purge all you will not be actually needing in your new home!

IMMACULATE

A truly deep clean is in order.

It is highly advisable that you bring in professional help. (Pretend it’s the first time your in-laws are coming to visit… that’s how clean this needs to be.) Every room, behind and under all furniture, all light fixtures and ceiling fans, baseboards, drapes and upholstery. Clean, clean, clean! Outside too: your home’s façade, paths and driveways. Yes, of course, the windows. And the basement. Yep, the garage, too. Like we said, get professional help, this is a big job.

HOME IMPROVEMENTS

But what about improving your home’s value before you put it on the market?

(What, you don’t have enough to do already?) Well, there are some home improvement projects that can add value and sell your home more quickly, such as new kitchens and updated baths, but be careful to not overspend nor create something that is specific to your taste which may turn off a potential buyer. Studies have shown that most home renovations recoup less than their actual cost. (But they may help you sell faster.)

While most buyers don’t want to inherit a project, some would prefer that to a poorly done renovation which clearly was just for staging purposes. Just make sure your price reflects the need for the renovations. Sometimes there are marketing solutions to overcome a buyer’s inability to envision changes such as virtual staging and photo editing. Discuss with your agent.

PRIVATE SHOWINGS & OPEN HOUSE

The photos enticed them and now potential buyers are soon to arrive.

If all has been done to plan, the experience of the potential buyer when viewing the property in conjunction with solid price positioning will ensure you will receive offers. Assuming proper market exposure, this should take place within the first 30 days. If not, then likely the price position is off.

While the house is still being actively shown, it is important to maintain the focus on the experience of each incoming buyer. Just because you have tired of the showing prep doesn’t mean that this is not your next prospective buyer’s first impression of your home. Every new showing is “Showtime!” So focus on the goal, keep the clutter at bay, tidy up and make sure it smells good.

There are so many critical factors in successfully getting a home sold but we hope this review of preparing it for sale will help you take the best first step!

HOUSE PREP CHECKLIST

Selling Your Home – Your Honey Do list just got longer…

Download a comprehensive checklist on preparing your home for sale at our website.

PREPARING FOR SHOWINGS

Staging and house prep is only the beginning.

Check out our recommendations for setting the stage for effective showings to ensure that all of your hard work pays off. Visit our website for more tips.

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