With the current Real Estate Market situation, what does this mean for you? The market is tough. With only few buyers out there you are competing with all other home sellers for those few buyers. HGTV has indicated that the number ONE Real Estate Mistake is to fail to showcase the home and make small cosmetic changes. Have you considered all aspects of marketing to ensure that buyers choose your house over your competition?
For a successful marketing strategy (yes, selling your house is like selling any other product) the following 4 aspects of marketing should be considered:
Packaging/Product (Your House) - You have probably already hired a Real Estate agent as your marketing specialist, but he/she cannot do this part without you.
The packaging of your home is the home seller's responsibility in the selling process. Your Realtor will tell you the same - if buyers go through your home and make a mental list of what work needs to be done and what they have to spend extra money on after just making a big expenditure, they will scratch your home from their list, or they start to negotiate on the price. By not preparing the house for sale, it makes the competition look better and will help them sell their house!
If your house is properly staged it will emotionally appeal to a wide range of buyers tastes, so that they can imagine living there. You want to create the WOW factor amongst buyers that makes them feel home. According to a study conducted by RESA (Real Estate Staging Association) occupied staged home are 89% less time on the market than unstaged homes. Staged vacant homes are 85% less time on the market than unstaged homes.
Promotion - Did you know that 94% of home buyers first look online before visiting a listing? This is the best marketing tool that you have to get traffic into your house. If buyers do not like the online pictures they will not even take a look at your property - your house will be off the list before even being on the list of the home buyer. Therefore, it is critical that these pictures look awesome! Your house should be staged before putting it on the market and your Realtor will have great looking pictures to place on the MLS listing - many Home Stagers offer to take "after staging" pictures for your Realtor.
Pricing - Pricing the home right - If the listing price is set right, Home Staging will influence the price buyers are willing to pay. The expert on pricing is your Realtor. According to US Housing and Development a staged house sells on average 17% higher than unstaged homes.
Place - well, neither of us has an influence over this - your house's location is where it stands.
Which house would you buy?
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