To sell your home in a down market, you need to spend time making it stand out..
OK, so how do you make your home stand out when a buyer has dozens of homes from which to choose? There is a lot of competition. A buyer’s market means that there are plenty of homes competing with yours, and that there are more homes for sale than there are buyers. So if you want to sell your home, you have to stop thinking like a seller and start thinking like a buyer.
Sellers think like this: I love this house. We raised our family here. And I spent a ton of money on it to fix it up, and I remodeled the kitchen and added a deck, and all that. I need to net about ____ of dollars to recoup that investment. And sure, I know I could fix the basement walls, or take down that wallpaper, but why would I want to do that now?…the buyer will probably want to make their own decisions.
But let me ask you a question: Is what you spent on your house in any way related to what a buyer is willing to pay for it?
But a buyer thinks like this: I want the best house for the best price. I’ve got 25-30 homes to choose from, and I’m going find out what is wrong with each one of them until I can find the perfect one. And then I’m going get a deal on it…after all, I didn’t make as much on my house when I sold it…it’s my turn now.
Let me give you the basics to making your home a front runner. If you don’t do these things, forget about the rest…
First, get rid of the clutter. Clutter gives the impression that there’s not enough storage in the house. And that includes the closets: buyers are looking for storage space, so clear them out and organize the shelves to show off how much storage you really have.
Second, the cheapest thing you can do is to clean. It costs nothing, it’s easy to do, and it will make a big difference. Grimy shower doors, dead bugs in the light fixtures, cobwebs in the basement, dirty windows, fingerprints on the doors, dirty grout between tiles: make your home really shine and make it fresh. Nothing is worse than a smelly dirty home!
I’ve got one more word for you…PAINT! Nothing makes your home seem fresh and up to date, and costs so little than it is to paint. Paint is “money in a can”—you will recoup this many times over. Get rid of the bold wall colors: they reduce the price and the number of offers. Go with neutral paint colors instead. Take down ALL wallpaper, and stenciling and re-paint. These are the basics of making your home the Front Runner over your competition.
Article courtesy of Scott Swick, General Sales Manager of First Weber’s Fond du Lac office.