Florida Gulf Coast Real Estate and Community News

Home staging offers a distinct advantage for sellers: a speedy sale.

Sixty-two percent of sellers’ agents believe staging a home cuts down the time it spends on-market, with the majority believing it “greatly” reduces the window, according to the new 2017 Profile of Home Staging from the National Association of REALTORS® (NAR). Seventy-seven percent of buyers’ agents believe staging a home helps buyers envision themselves living in it, and 40 percent believe it prompts buyers who first saw the home online to visit it in person.

Staging can also have a positive effect on home value. Thirty-one percent of buyers’ agents and 29 percent of sellers’ agents believe it adds anywhere from 1 to 5 percent, while 13 percent of buyers’ agents believe 6 to 10 percent and 21 percent of sellers’ agents believe 8 to 10 percent. The cost of staging is often fronted by the seller or sellers’ agent.

Buyers’ agents caution, however, that staging is only beneficial if the home is staged to appeal to general, not specific, preferences. Most buyers’ and sellers’ agents believe the living room is a key space to stage, as well as the kitchen, the master bedroom and the yard. They also believe decluttering, depersonalizing and a deep clean—beyond staging—are essential for a show-ready home.

Thirty-eight percent of sellers’ agents stage all of their listings before placing them on the market, while 14 percent only stage listings that require it. A near-even 37 percent do not stage their listings at all.

“REALTORS® know how important it is for buyers to be able to picture themselves living in a home and, according to NAR’s most recent report, staging a home makes that process much easier for potential buyers,” says NAR President Bill Brown. “While all real estate is local, and many factors play into what a home is worth and how much buyers are willing to pay for it, staging can be the extra step sellers take to help sell their home more quickly and for a higher dollar value.” 

For more information, please visit www.nar.realtor.

Getting your property in "Show-Ready" shape is one of the many pre-marketing services we provide to our clients and is included in our fees, which are paid at closing. For more information, all/text Jennie (727) 599-5418 or email jennie@blackburncoastalrealty.com.

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I hope you’re having a great day! I wanted to check in with you and share some valuable information. There’s a lot that goes into real estate, so we like to make sure we educate our customers and clients.

I don’t have to be a genius to know that homeowners looking to sell want to get the most money possible. Trust me, I want to help you get there; and after you hire me, I will get you the most money possible for your house.

The Endowment Effect

The Endowment Effect is a very real phenomenon all homeowners should be aware of--especially if you are considering selling your house. It means that ownership of something changes our idea of its value. Simply put: mine is mine, which means mine is better...actually mine’s the best, so clearly mine is worth more than anyone else's. It leads homeowners to believe their house is so awesome it will sell itself. This phenomenon is one of two main reasons we tend to see overpriced For Sale By Owner (FSBO’s)--the other is that people try to price their homes for what the market is going to be rather than what it is now.

The Price Is Right

Price matters when it comes to selling a house. Price (and merchandising) are what draw people in. One major myth people seem to put a lot of stock in is: You can price your house high and always negotiate down.

This doesn’t work, and it’s because the internet has transformed how buyers look for houses. The home search portals nearly everyone uses are designed to search by area… and price. So, if a buyer’s budget is 500K, and the home is priced at 700K, the buyer won’t see that home. There’s no opportunity to offer market price because they don’t know it’s there in the first place.

What happens then? The property sits… and sits… and sits. Days on the market start adding up, reducing the property’s initial value. Buyers start to wonder: What’s wrong with that home? It’s a problem that compounds itself.

Take a look at the chart I've attached below. You can see that after the second intersection of the red and yellow lines, inventories begin gradually trending up while sales are gradually trending down.  Sellers start pricing too far above market -- at the level they think values will be in 6-9 months (because what goes up never goes down, right?), which means overpriced properties that buyers will not buy and a subsequent increase in the number of days on market.

By the time most sellers realize this, it will already be too late. This does not mean the real estate market will crash. It just just means the market will become more balanced between buyers and sellers.

The Time Is Now

So, right now is the perfect time to sell. One of the things I do to make my clients more money more quickly is to get in there early to prepare their property for sale and develop a merchandising strategy. For example, how does your front door look? Is there a brass door knob that has become pitted from Florida’s salt air? Buyers will not pay top dollar for a front door that looks like it's been abused. The good news is you don't need to spend hundreds of dollars to replace the door -- just invest as little as $40 for new brushed nickel hardware and scrub the door itself with a Magic Eraser. This creates a first impression that can lead to a higher offer. That tip is free -- I'll give you my other tips and tricks when you hire me as your listing agent.

I want to give you the insider’s perspective on how to get the most from your home sale (as well as to clear up a few misconceptions).

Even if a home sale is not a current concern, I’d recommend filing this information. You never know when it will be time to prepare.

Here’s the Inside Scoop

Let’s clear something up right now-- putting too much emphasis on pricing a home in order to ensure its sale is a mistake. Yes, a competitive and market-relevant price holds value. But it’s not the only factor.

Merchandising -

Is the art of presenting a product so it stands out and is crucial for distinguishing your home from its competition. It’s what we use to trigger an emotional response from prospective buyers so that they put your home at the top of their list of “must see” homes for sale (click here for an example). Merchandising is not only what sells homes, it’s what sells homes for more.

Marketing -

An artful presentation is worthless if the word doesn’t get out that your home is for sale. That’s why a no-holds-barred marketing strategy is vital. Marketing allows us to deliver your home to its maximum number of buyers. More prospects = more potential for multiple offers.

Put simply, the value of a property is determined by what a buyer is willing to pay for it. This bears repeating: Buyers set the market price. If the combination of merchandising and marketing has multiple buyers making offers, you’ve upped your home’s value. With the right strategies in place, buyers will see your house as a great value for the money, and they’ll want to snatch it up before someone else does!

Up Your Value

Most considering selling their home start planning months in advance. This includes making improvements that may increase their home’s selling price.

Don’t throw your money away on fixes that don’t add value!

I beg you-- get in touch with me first. If you’re thinking of selling your home and would like to make some changes, give me a call (727-599-5418). I’ve seen many, many unnecessary upgrades that did not lead to great returns. Don’t throw your money away on fixes that don’t add value!

However, it’s amazing how a few fresh coats of paint can transform a space-- if you’re painting with the right colors. With tens of thousands of paint colors to choose from, how do you know which will be the most updated, appealing colors to homebuyers? Every home is different -- how do you know which colors to choose for YOUR home? One paint color does not fit all. If you’re even thinking about painting your home to prepare for a potential sale, get in touch with me. Really. Because I have an actual toolkit that I use to determine the best colors to make the most positive visual difference in your home. This is a service I provide for free. I’ll be happy to swing by anytime to help: Call or Text (727) 599-5418. 

During the home buying and selling process, showing your abode can be both stressful and exciting. It’s your chance to present your space at its best so that potential homebuyers can picture themselves making it their own. Let us help you break down the home staging and prep process so that you can tackle the cleaning, organizing, and arranging in a manageable manner. With just a few easy tips for selling your house, you’ll be ready for a real estate showing or open house in no time.

1. Remove Personal Items

Walk through your home with a box, and remove any photos displayed on tabletops or hung on your refrigerator. It’s important to keep personal items out of sight so that the families walking through the home can picture themselves there.

2. Keep Things Squeaky Clean

When your home is being shown to potential buyers, it’s vital for the space to be as clean as possible, and that doesn’t just mean boxing up the toys and fluffing the pillows. Be sure to vacuum the floors and carpets and wipe down all surfaces. (It also doesn’t hurt to take a second or third run at everything with a broom and duster, just in case.)

3. Showcase the Selling Points

Think about the most attractive features of your home, and try to showcase those as much as possible. If you have great hardwood floors, don’t hide them with rugs. If you have a beautiful mantel, don’t draw attention away from it with bold art or showy design objects.

4. Empty the Trash Cans

No one wants to encounter strangers’ trash when they’re touring a home, so be sure to empty all of the home’s garbage bins the morning before the showing.

5. Add Fresh Flowers

A few vases of fresh flowers can go a long way to making your home feel warm and inviting. Arrange a simple vase of flowers on the dining room table or wherever it feels natural and organic to display flowers in your home. Stop by the grocery store for a few bouquets, and follow our instructions for making the most of inexpensive flowers.

6. Make Sure Your Home Smells Lovely

Scent is a strong sense, and when people walk into your home, you want it to smell fresh and clean, but not overwhelming. Open the windows the day before the showing to air out any odors, and add subtle fragrance in key areas, but only if you need to. Don’t spray any super strong scents. Keep things neutral and natural, fresh and clean.

7. Keep Clutter to a Minimum

One of the most important features for potential homebuyers to see is the architecture of your home. While you may love some of your interior design choices, pare down any extraneous distractions, whether that’s a mass of pillows, objets d'art, or bulky storage features. Get rid of anything than can be construed as clutter so that visitors’ eyes are focused on the basics.

8. Act Like a Buyer

Walk through your home as if you were a potential buyer. This will allow you to notice any awkward furniture arrangements or any impediments to the flow of movement through the home. You certainly don’t want anyone to trip over a hidden ottoman.

9. Stow Your Valuables

Lock away any valuables, like jewelry, electronics, or important paperwork. Anything you wouldn’t want a stranger to access should be hidden away—or powered off, in the case of desktop computers.

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<<Reposted from SouthernLiving.com>>