Wednesday, September 19, 2007

Decluttered and Lowered Price

Decluttered and Lowered Price

We have packed the clutter and reduced our price and still don’t have action … now what?
Congratulations! By packing your clutter and reducing your price you have made your home market ready – a great first step. Now you need to look with a critical eye at what you are truly offering. Buyers are looking at a lot of property these days. Some will look at ten homes in a day, whereas just two years ago they might not have had ten to select from in total. How do you really stack up?

Did you simply box up the knickknacks, or are you decluttering the entire home and garage? With the majority of your prospective Buyers being visual personality types it is important that you eliminate what they will deem a “visual nightmare”. Cobwebs inside and out, pet “landmines” in the backyard, dirty dishes and clothes, peeling trim paint, must/mold/smoke odors … all must be addressed unless you are priced such that you substantially compensate the Buyer for these deficiencies far beyond the actual cost, or perceived cost, to mitigate them. Most often you won’t have the opportunity to negotiate these deficiencies with the Buyer – they will select another property. If you do, you will usually end up paying dearly for your lack of preparing your home for market. It is best to prepare in advance.

Regarding the price – did you merely take it from 10% over to 3% over market? Are you the very best thing out there for what you are offering, or do you need to adjust it further to compete with properties that are actually offering more for the money, or are in better condition? Buyers are incredibly price-conscious these days … sometimes to their own detriment as it is causing them at times to not act, or to not buy the home they want if they don’t get a pre-conceived discount from the List Price, regardless of how well the property is priced. Be price smart if you are committed to selling in this Market.

Our Advice: Unless your potential Buyer has a specific reason to buy your home, i.e.- their child lives next door, they want to ride their horses on the BLM land next door, your 20 foot ceilings will accommodate the Christmas tree they want, etc., you must continually monitor the competition. Remember, the other homes for sale are your competitors, and they, too, want to sell. They are watching you! They will seek advantage so they, too, can get on with their lives. You and your agent should be watching the market on a regular basis, several times a week. Also, pick up the little things around the place – consciously, or subconsciously, the Buyers will notice what you do … or don’t do. As you know, you never get a second chance at a first impression so make sure your first one counts! With few showings it is important to make each one count.

If you want to sell don’t wait to get your property perfect – get it on the market and start working on it. Your agent will work with you on what is truly important to accomplish before having any market exposure, and what will help to give you an edge as you gain market momentum.

Experience is Priceless! Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, , or email us directly at 775-781-5472.

1 comment:

Successful Agent said...

In the past few years I've been researching who are the successful agents, tried to figure out why top agents are top agents.
Do they have a common educational background? No. Good ones have high school diplomas, masters and doctorates. No correlation.
Similar previous careers? No. One of the best agents I know used to teach baton twirling. I doubt if I could find a lot of those if I tried! I've had waiters, teachers, high powered executives and stay-at-home Moms who were all very successful.
Common interests? No. Other than eating, (which we Realtor-types seem to do exceptional well) the interests are widely diverse.
After 13 years in real estate sales and management, I've only found a few constants.
1. Successful agents treat the real estate business as a business. They actually have a business plan and a budget. They understand that you have to spend money to make money. They know how many sales they need to make the income they require and then they figure how they'll get from here to there. They plan in advance and execute the plan.
2. They actually work when they work and play when they play and take a day or two off every week. (Just like a "real job!")
3. They have fun and enjoy selling real estate but know that it won't be forever.
4. They buy a lot of real estate for investment when they see good deals because they know that no one gets rich selling the stuff. You get rich owning it! Financial independence gives one a lot of freedom, autonomy and a certain air of confidence that smells like success.
. . . And people like to do business with successful people so they do more business!
That’s why I choose this realtor for my future