Stand Out Above The Competition
Aug 01, 2015 09:49AM ● Published by Glenn Allen
Take note as the market changes
Are you concerned about the effect climbing interest rates could have on the recent seller's market? With the median list price of properties up and inventories growing compared to last year, there is definitely some cause for concern. Prospective homebuyers have more homes to look at, and their dollar doesn't stretch as far as it did before. With the added pressure of rising rates, they are bound to be more discriminating. Don't let this information faze you, though. You can still get the price you want; you just need to be smart about it. Here are some proven ways to make your home stand out above the competition and give prospective buyers that extra incentive to make an offer on your home.
Enhance and Stage
The purpose of staging is to help the buyers visualize themselves in your home by creating an inviting and livable space. Staging isn't just beautification. Done right, it removes obstacles that might trigger doubt and replaces them with solutions. For instance, investing in custom storage for a small but visible closet lets prospective buyers know they will have enough space for their own things. Some other tips:
- Repair cosmetic damage, like cracks in the drywall, dingy paint, and a broken porch railing.
- Make sure your whole house, including the windows, is sparkling.
- Remove clutter.
- Create "spotlight zones" that suggest innovative uses for the space. For instance, create a home office in a hallway vestibule or underneath a stairway.
- Focus on curb appeal to make the buyer's first impression a positive one.
Have a Pre-Sale Inspection Done
Making a pre-sale inspection of your property available to prospective buyers gives you a huge psychological advantage. Essentially, you are telling them, "I have nothing to hide." It's also a big advantage for you. The inspection may reveal problems with your home that you are unaware of. Knowing in advance what those problems are gives you the opportunity to address them before the property goes under contract, which can save you thousands of dollars.
Price Your Property Right
There are few cases where a seller can afford to let their property just sit on the market, waiting for that perfect buyer. Most sellers need to make a quick sale. Moreover, properties that don't sell within a month of being listed get "stale." Prospective buyers and their agents lose interest, showings go down, and the result may be one or more price reductions. List at the right price by doing extensive research on comparable properties in your area and heeding your agent's advice. Sellers can be their own worst enemies when it comes to pricing their home for sale, letting attachment to the property color their judgment. The agent is your trusted voice of reason.
Go with an Experienced Local Agent
Real estate experience matters the most in a changing market. Your agent should know how to act swiftly and decisively to get you the highest price possible.
To find out more about how to develop a winning strategy for your home, please contact me at 925.709.1000 or visit www.TalkToGlenn.com. You can also read more articles about staging and pre-sale inspection at www.GlennCF.com.