How to Sell Listings That Don't Sell
Bernice Ross - Real Estate Coach
If you're stuck with a listing that won't sell even when the price is right, making a few changes may be exactly what you need to replace the "for sale" sign with a "sold".
I remember the early 90's when we were in the worst buyers' market I have ever experienced. Nothing was selling. At one of our meetings, someone suggested burying a Saint Joseph statue in the back yard. Several agents tried it and it worked; well at least sometimes it worked.
An important question all listing agents must address is how to best advise the seller to prepare their home for sale. There is no one right answer, but here are a series of simple guidelines.
The Basics:
1. Clean is a necessity
Very few people are willing to tolerate a dirty house. Granted there are buyers who love fixers or who actively search for probates, but the large majority of buyers prefer squeaky-clean properties. If the sellers are unwilling to clean up their property, ask them if they are willing to take a ten percent reduction in their purchase price. This question normally captures their attention. Dirty, cluttered properties do not command the same price as "pride of ownership". Be sure to have the windows and screens cleaned, all junk removed from closets and the garage, and any unnecessary clothes or other unused items placed in storage. If the sellers do not have the time, suggest a cleaning service. It is also advisable to locate a company who removes "junk" from properties. This can be particularly handy after the transaction closes and the seller leaves their junk for the buyer to cleanup.
2. Love me-love my pet
Fluffy may be adorable and the owners may not be able to smell the "pet smell", but outside visitors can. Like smoking odors, pet smells can be particularly difficult to remove. The best course of action is to have the owner board their pet elsewhere while their home is on the market. It's a nightmare for all involved if a pet disappears or is hurt because it escaped during a showing. Encourage sellers to protect their animals by keeping them elsewhere. If the sellers are unable or unwilling to board their animals, recommend they purchase a quality air purifier. This will eliminate a large portion of the odors. When all else fails, a can of air freshener and plenty of scented candles can sometimes mask the smells. Regardless of whether the sellers board their pets, have them clean the carpets, the drapes, furniture, as well as any surfaces where the pet normally spends time. The same recommendation applies to smokers. Once the house is clean, have the smoker smoke outside.
3. Less is more
Homes crammed with furniture, walls covered with family photos, or cluttered counter tops all convey the same message: "This is my home filled with my possessions". This makes it particularly difficult for the buyer to imagine their belongings in the property. If the buyers cannot picture themselves living in the property, there is a high probability they will continue to search elsewhere. To assist the seller in removing these items, tell them the truth, i.e. "To obtain the highest price possible for your property, the buyer will need to picture your property as their home". This means removing as many personal mementos as possible. Cluttered properties seldom bring as much purchase price as properties that look spacious and organized. Have the sellers clean the closets, clean the garage, and clean the attic. They will have to do this eventually; why not do it when it can help them achieve a higher purchase price?
4. Fix it!
Repair anything that is broken or not functioning properly. Buyers make snap decisions about property condition. While the house may be structurally sound and all major systems working properly, unpainted trim, a leaky faucet, and an inoperable doorbell can give the impression the property is in poor condition. To give the best impression possible, replace damaged screens and gutters and re-caulk where needed. Remember, a poor impression leads to a smaller sales price.
5. Corral the kids
While you can't ask the sellers to board the children, make sure the children's toys are put away. If the seller is short on space, you may want to "loan" the seller some large plastic storage boxes to store toys during the listing period. Store the boxes in the garage during showings. Toys can be dangerous, especially for adults who wear bifocals and cannot see the floor clearly.
If you have a listing no one seems to want, "staging" the home may be exactly what you need to replace the "for sale" sign with a "sold".
Shakespeare's famous quote, "All the world's a stage..." is certainly apropos in the real estate business. Homes presented to their best advantage bring maximum purchase prices. To do a better job of "staging" your listings, utilize the following tips.
1. Curb Appeal
Take the seller outside the property with you and have them walk up to the front door just as a buyer would. What do you notice? Is the property attractive from the street? Is the lawn neatly manicured? If the weather is warm, are there flowers blooming in the flowerbeds? Does the house look well maintained from the street? Is there a car parked in the driveway or worse, in the front yard? To achieve the maximum price possible for the property, the seller will need to address these "curb appeal" issues. Upgrading the landscaping, repairing any damage visible from the street, painting the trim, and parking the cars in the garage or on the street, can make a big difference in how many people elect to view the property. Remind the seller you want to motivate people to pick up the phone and call you for a showing. Failing to address these issues will result in a lower price since fewer people will see the property.
2. Welcoming and Inviting
When the buyer walks up to the front door, what do they see? Does the doorbell work? What about the welcome mat? If it looks ratty, have the seller buy a new one. Does the front door need painting or re-staining? If so, these are smart places the seller can spend a small amount of money that will yield an excellent return. Ideally, the home should beckon the seller to walk in and view it.
3. Common "Scents"
Odors have a strong effect on all humans. For example, a research study testing a perfume scents used cinnamon rolls as a control group. When tested, the men in the study overwhelmingly preferred the scent of cinnamon rolls over all perfumes in the study. To create the "cinnamon roll effect", purchase canned cinnamon rolls and bake them prior to open houses or major showings. If the home has a fireplace, light a fire and use pine potpourri to accentuate the smell of burning wood.
4. Light and Bright
Most people prefer bright houses. If the trees have blocked the light, urge the seller to have them trimmed prior to listing the property. During showings, remember to open all drapes and to turn on all lights. To increase brightness, make sure the seller has the windows and skylights cleaned. Also, remember to have all chandeliers cleaned as well as dusting the light bulbs.
5. Disguise What Is Ugly
Sometimes a major room faces an ugly view or the building next door. To change this, a simple white lattice and a few strategically placed plants can change "ugly" to beautiful. If the seller's furniture is ugly, suggest they purchase some slipcovers to give it a fresh look. Another alternative is to throw several attractive throws over the furniture and then add pillows on tops of the throws. In the case of the college where I teach, my office had major earthquake damage. The walls were badly cracked, the floors had fifty years of accumulated gunk, and there was no storage. My decorator hung fabric over the walls, installed new carpets, and purchased a large painting that stands in the corner. Behind the painting, I store my garbage bags, vacuum, and other items that do not fit in my desk. One important caveat here; you must disclose damage in writing to all potential buyers. Concealing the truth can cost you and the seller thousands of dollars.
6. Give Weird Colors the Brush
Time after time, properties with strange colored rugs and/or walls will sit on the market until the seller decides to paint and re-carpet. If the sellers cannot afford to repaint or re-carpet the entire house, at least have them upgrade the primary rooms, i.e. the primary living area, master bedroom, and kitchen.
7. Create "Sex Appeal"
A new bedspread and plenty of pillows makes the bedroom look more inviting. Strategically placed candles, different varieties of attractively packaged bubble bath, and beautifully arranged towels can spiff up a tired bath.
8. Hire a Professional Decorator
Many decorators now provide "staging" services. The seller can hire them for one or two hours to make suggestions about furniture placement, how to best accent the home using the seller's existing possessions, as well as inexpensive ways to improve the over-all appearance.
Good luck!
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