Friday, March 28, 2008
Selling a Property in Today's Market according to the Wall Street Journal
Along with informed pricing, consider these selling tips:
Finishing repairs, freshening paint, clearing clutter and staging the home for a wide range of potential buyers has become increasingly important in this tough sellers market. The superficial condition of the home reveals how well it's been taken care of by the seller. O'Connor says her members report some 20% of listings being professionally staged versus 5% a few years ago. "It doesn't cost a fortune," she said. "Consider it like getting your car detailed."
If going for a kitchen or bath remodel before listing, consider smart use of space and materials and energy efficient appliances in order to appeal to buyers wary of high energy prices, said Accelerated Marketing's Gollinger. "Buyers are going for value and efficiency," he said. "Bigger isn't necessarily better any more."
Tap all media for your listing. Create buzz with a blog about your home, which, along with high-quality photos can add a virtual open house to any traditional showings. Be clever with your listing. New York-based Pezenik enticed would-be buyers into a condo she sold recently by raving in the ad about the view of Fourth of July fireworks.
Sweeten the deal by offering to help buyers with upfront cash, such as offering to pay closing costs or golf memberships. Gollinger says some mortgage companies, also anxious to drum up business in this slower market, are covering closing costs. That's another carrot to dangle in front of interested buyers.
Anticipate the needs of potential buyers long before any numbers are being tossed around. Another Pezenik client got contractor estimates for tearing out and seeding a mostly concrete back yard and presented those figures to interested buyers.
Finishing repairs, freshening paint, clearing clutter and staging the home for a wide range of potential buyers has become increasingly important in this tough sellers market. The superficial condition of the home reveals how well it's been taken care of by the seller. O'Connor says her members report some 20% of listings being professionally staged versus 5% a few years ago. "It doesn't cost a fortune," she said. "Consider it like getting your car detailed."
If going for a kitchen or bath remodel before listing, consider smart use of space and materials and energy efficient appliances in order to appeal to buyers wary of high energy prices, said Accelerated Marketing's Gollinger. "Buyers are going for value and efficiency," he said. "Bigger isn't necessarily better any more."
Tap all media for your listing. Create buzz with a blog about your home, which, along with high-quality photos can add a virtual open house to any traditional showings. Be clever with your listing. New York-based Pezenik enticed would-be buyers into a condo she sold recently by raving in the ad about the view of Fourth of July fireworks.
Sweeten the deal by offering to help buyers with upfront cash, such as offering to pay closing costs or golf memberships. Gollinger says some mortgage companies, also anxious to drum up business in this slower market, are covering closing costs. That's another carrot to dangle in front of interested buyers.
Anticipate the needs of potential buyers long before any numbers are being tossed around. Another Pezenik client got contractor estimates for tearing out and seeding a mostly concrete back yard and presented those figures to interested buyers.
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