Positioning

I’m often asked by Sellers and prospective Sellers, “what can I do that will have the biggest impact when I put my home on the market?”  Great question.  In this market, every listing is competing with dozens and dozens of comparable properties, and differentiating your property from the rest is literally the difference between a SOLD sign and languishing on the market unsold for months.

Quite simply, you must become the best value in your category.  Look through a buyer’s eyes, and consider the competition.  They are going to select the house that offers the most value for the price.  And, it will either be a “deal” (priced substantially below the market), or if it’s priced at the market, then it will be in move-in condition with superior features to others in the same price band.  Otherwise, it will fall into the “everything else” category that eventually expires or is withdrawn from the market.  The last thing you want is to fall into the “everything else” category!

So, begin with price.  You should position your listing lower than other comparable homes that are currently available.  That is really the ONLY factor you should consider when pricing your home; not what you have in it, what you paid for it, or what you need to get out of it.  Unfortunately, none of those things mean anything to buyers.

Next, work on condition.  “Move in” ready means different things to different people, but at a minimum, your home should have fresh paint in neutral colors.  Carpets should be clean or replaced.  Kitchens and baths should sparkle.  De-clutter and de-personalize as much as possible, so that the new buyer can imagine themselves living in your home.  You’re moving anyway, so go ahead and thin out closets, pack up unnecessary things on kitchen counters, take down knick knacks, and store extra or large pieces of furniture that may make your home feel smaller than it is.

We work with several professional stagers who are truly artists at putting a home’s best foot forward.  An investment of several hundred dollars is well worth it, and can pay off in thousands of dollars of return to help a home sell faster and for top dollar.  I look at many houses every week, and I continue to be amazed at what 6 or 7 hours of staging can accomplish.

First impressions are also important – flower beds should be freshly mulched and free of weeds.  A touch of color, especially in the winter, goes a long way.  Fresh paint (and sometimes a brass kickplate) on the front door says “welcome” and porches should be clean and tidy.  During showings, open all drapes and blinds, and leave lamps on – even during the day.  Pets should be invisible (including food bowls and litter boxes), in case prospective buyers aren’t fans or are allergic.

Our agents are happy to give you some pointers (or refer you to their favorite stager) if you’re thinking about putting your home on the market this Sprint.  Just give me a call or send me an e-mail, and I’ll hook you up!

Comments

[Open House Listing]

Thank you for all the great posts from last year! I look forward to reading your blog, because they are always full of information that I can put to use. Thank you again, and God bless you in 2010.