Staging Tips

If you’ve decided to sell your home and would like to do so quickly, you will have to come up with ways that will set your home apart from the others currently on the market. One of the easiest ways to do this is to stage the home to highlight its benefits and down play any undesirable features in order to attract the most prospective buyers. Your home should look as clean and attractive as a model home that the perspective buyer can see themselves living in for many years to come.

Here are a few easy and inexpensive staging tips that will make your home attractive to new home buyers and hopefully lead to a quick sale.

Inexpensive Tips for Staging Your Home:

Get Rid of Clutter. The first thing you need to do to prepare your home to sell is to get rid of all the clutter and junk that you may have laying around, and that includes your garage. Rooms with fewer pieces of furniture make the room appear larger than it is. Professional stagers often take as much as half of the furniture out in an effort to open up the room and make it appear bigger. You may consider renting a storage unit while your home is on the market to store items that aren’t currently needed or to store extra furnishings.

Make a Small Room Appear Larger. One trick that stagers use for small rooms is to paint it the same color as an adjoining room. A small kitchen and adjacent dining room will look bigger if they are the same light shade. Using the same color drapery as the walls is another trick to make a small room appear larger.

Neutral Colors. While we all have our own personal taste, when you’re selling a home it’s best to cover up bright and bold colored walls with a fresh coat of neutral colored paint in off white, beige and tan. Very light blues and soft greens work well too.

Remove Personal Items. You should de-personalize your house by removing personal items like family heirlooms and photos. You want perspective buyers to think of your home as their home, and it’s difficult for them to imagine themselves living in your home if it’s full of your memories.

Clean, Clean, Clean. No one wants to walk into a dirty home that smells like a wet dog that has stains on the carpet. Remember, anyone serious about buying your home will look under kitchen and bathroom cabinets for leaks, so everything from top to bottom should be sparkling clean. A dirty, smelly home will turn a buyer off immediately. Have your rugs and furniture professionally cleaned and get regular cleaning service keeping your home spic-and-span throughout the time it is on the market.

Don’t Forget About Curb Appeal. The first impression your home will make will be when the perspective buyer and their Realtor pull into the driveway. Make sure that all children’s toys and bikes are neatly put away. Make sure garbage cans are put behind your gate and be sure to cut the lawn.  If your home has rock, make sure there are no empty patches. Have a landscaper sculpt trees and bushes and trim any cactus, to make sure that your home makes an impressive first impression.

By following these inexpensive staging ideas, you will be making you home look more like a new model home.

 


Tips on Selling a House in a Slow Market

SELLING IN A SLOW MARKET


Patience and prudence pay dividends
 
Selling a house can be a daunting task in a slow real estate market. Nevertheless, selling a property is sometimes necessary or desirable despite market circumstances — for instance, when the home’s mortgage value is higher than its market worth, if one has purchased another house and faces difficulties in paying two mortgages, if one wants to upgrade to a bigger and better house or if there is a need to downsize. Other circumstances such as job relocation and family issues can also necessitate the sale of one’s home — with an express need for a quick sale.
As a rule of thumb, it is never a good idea to sell anything when the market is bad and showing no signs of recovery. That said, if there is no alternative but to sell despite unfavourable market conditions, it is not enough to simply list the home and wait for an offer.
The thought to keep in mind in such a situation is that even though the market has decelerated, there are still plenty of homebuyers eager to find a home. There are some key tactics to help increase the possibility of a sale, and these pertain to preparing both the property and one’s mind to increase the probability of a sale:


Know your market
When selling a house on a depressed market, it is very important to understand what is really happening and why it is happening. Understanding gives objectivity, and an objective mind is more conducive towards a successful sale than a desperate one. Above all, it is important to know the true market value of one's home, which is often very different from what ones hopes or thinks it is. Most sellers operate in the dark and are simply offering their property for the price that they want, regardless of what other homes in the same location are being sold for or are currently selling for. Undervaluing or overpricing your property while trying to sell it on a slow market is a serious mistake.


Be competitive in your pricing
On a slow market, property prices dip and the possibility of obtaining a really good price is remote at best. It is essential to price your home reasonably by looking at similar options available in the current market. If you take a look at the homes in your project or neighbourhood which are listed with brokers but are not selling, chances are that their owners’ expectations are just too high. To stimulate a sale, under-pricing your property relative to others being offered in the project or location by just a little can generate more interest from buyers. For high-end properties – i.e. luxury units in metro cities valued at Rs5 crore plus, one can should consider using the close bid process. In this process, which reputed property consultants employ on behalf of their clients, bids are invited from prospective buyers with the objective of achieving the best possible price. High-end and landmark properties are normally sold using this process, which invariably help sellers to arrive at an optimal sale price.


Make your home presentable
Apart from right pricing, nothing will attract potential buyers more than a well-maintained house. This goes beyond just cleaning and sprucing it up, and actually involves removing your ‘identity’ or the personalisation you have undertaken to make it ‘your’ home —from the house as far as possible. Retain only the things that actually add value to the flat. A small investment in making your property presentable is more cost-effective than a price reduction. Make the entrance presentable and address issues related to plumbing, water seepages, cracks in the masonry, loose railings and ill-fitting window frames. When there are many options available on the market, buyers will look for homes that are ready to move in rather than units that require significant effort and expense on repairs and refurbishing.


Be flexible with showings
It is essential to keep your home available for inspection throughout the time it is listed on the market. Remember, it takes only one buyer to get your home sold. Keep your home available for viewing at a moment’s notice, and do not restrict access solely to the times you are personally available. The more often your home is shown to potential buyers, the likelier is a quick sale. Do not give buyers the impression that their request to see the flat is an inconvenience.


Engage right agent
On a slow market, using the services of a top-of-the-line real estate consultancy can be a faster route to a quick sale than roping in multiple small-time brokers. A first-class property consultancy employs more operatives and has a larger and more dynamic database of prospects, and these capabilities are a major differentiator from smaller brokerages with limited resources.


Be flexible on your terms
On a buyer’s market, the willingness to be flexible on one’s terms can make a big difference. Buyers know that you want to sell your home, but may also be looking for some scope for negotiation. If a home is priced too high and
the owner refuses to negotiate on terms, it is likely to be ignored by buyers. Apart from openness to negotiation on the quoted price, offering flexible financial terms with an extended closing date can do the trick.


Be patient
Selling your home is invariably a stressful process, and the stress is inevitably prolonged when the market is slow. Remember that this is a waiting game, and that impatience will work against you. Be flexible, do not display any signs of desperation and use the right resources. At the end of the day, there is always a buyer for every good property.