Sunday, May 31, 2009

Mission: Appeal to the Buyer

Even a multimillion home may sell for a price devastatingly below its true value if not staged correctly. What is staging? Staging is the process of de-cluttering and de-personalizing your home. You want buyers to see the home's potential. You want them to fall in love with the space and to imagine themselves in that space. Let buyers image their own furniture and stuff in your home. The goal of staging is to enhance the value of your property and make a fast sale with top dollar.

Normally, staging can add 10% to 15% to the selling price. Follow these simple steps, and you are sure to get a higher return!
  1. Consider changing the color in your homes to a warm, neutral color. Paint is cheap and can immediately enhance a room (whether by making the space seem larger, draw attention to some of the home's unique architecture details, or otherwise).
  2. Take care of minor repairs. Nothing turns a buyer off more than a tear in the wallpaper or cabinets missing handles as this may lead the buyer to think that the house has been left to neglect.
  3. Put personal belongings away. This includes putting away personal photos, trophies, awards, and memoirs. While your nieces and nephews may be the cutest little things, buyers may not care as much. Sometimes personal items can only serve to distract a buyer from the house's features and you do not want that. You want the buyer to remember the house, not your personal touches.
  4. Clean! This is related to #3. Cleaning is VERY important and the simplest thing you can do to quickly enhance a room's features. No buyer likes to see dusty table tops.
  5. Rearrange furniture. Try to move 50% off your furniture away (storage or into your new home) to make the room open, less crowded, and seem bigger. Be careful not to let a big TV or sofa block the outside view or the entrance. You want the room to feel airy and welcoming with plenty of space to move around. In the bedroom, it is a good idea to have only 2 nightstands and bed if the space is not exceptionally large. If you have a fireplace, consider placing a sofa in front of it, surrounded by 2 chairs and 1 coffee table for a clean and contemporary look.
  6. Don't forget the outside. It is crucial that you have street appeal. This is what draws a buyer into the home in the first place. Make sure shrubs are trimmed and that the porch is freshly painted. Some fresh flowers won't hurt either.
  7. Details, details, details. Final touchs can put a room, or even house, together for a cohesive, warm feel. Make sure to show off all the living spaces. Consider placing some fresh flowers on the tables. Open curtains to let natural light stream in past the window and brighten up a room. Remember, smells are very important too, especially if you have a pet. Taking the pet out and using some lemon or other fragrance before buyers visit the home can make the difference between a "must-have" home and a turn-off. If the house is dated, new carpeting or new countertops will help to make a high-end sale.
If you don’t want to hire a professional stager, visit a model room or watch HGTV for ideas. Simple things can easily add top dollar to your home's price. Another option is to discuss staging with your listing agent. He or she may be able find professionals in the area to work for you, or even take up the execution your behalf for a small fee. In any case, an experienced listing agent will be sure to have some ideas to share.

One last thing to remember: design the home for buyers, not you. You must always think in the buyers' shoes. With this approach, your house will sell at top dollar in half the time. As always, please feel free to contact me if you have any questions. All comments are welcome. z-wu@kw.com

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