Staging South Tampa, LLC
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Recipe For A Sale
Why should I bother staging my home? What do I get back for all the time and effort I put in? This is one of the most common home staging questions among sellers, especially those who are selling in a seller's market.
Here's the bottom line: Staging your home can benefit you regardless of what type of real estate market you are in.
In a buyer's market, you need every advantage you can get in order to sell your home for a decent sale price, so it's extra important to stage your home effectively. But even in a seller's market staging can help you achieve a quick sale for the maximum sale price.
So no matter what kind of real estate market you are in, it's always wise to stage your home for the market. Don't rush to put your house on the market before it's presentable. First, identify the competition, then make your house look better than others on the market. Care and attention to details will impress potential buyers, and, if the house is "move-in ready," that means less work for them and a better offer for you.
THINK OF YOUR HOME AS A STAGE
Staging forces you to think like a buyer. When you set out to stage your home for the market, you will be looking at your home as if you are a buyer. Adopting this perspective early on will help you in many ways when preparing your home for the market.
Staging forces you to organize and de-clutter. Clearing away shelves, closets and cabinets is a big part of the home staging process. It also helps with moving, because you'll have to pack things away at some point anyway. So when you stage your home, you will also get a head start on packing to move.
Staging increases the likelihood of a sale. When selling your home, you must do everything within your power to increase your chance of selling--and I mean everything. Staging techniques and strategies will give you an extra edge in selling your home quickly and for top dollar.
Staging reduces time on market. When you put in the extra effort to stage your home, you will move closer to a quick sale. Anyone who has sold a home before can attest to the fact that the least amount of time the home is on the market, the better, especially when you have children and pets. This is also important if you will be paying two mortgages until the home sells (as is the case when you buy a new home before selling the old one).
Staging helps justify the asking price. If you are in a seller's market and you price your home correctly, you probably won't have to haggle over the asking price. But in a market that leans toward the buyer, you need everything in your favor to justify the asking price. Proper home staging can help you justify the asking price by alleviating fear in the buyer's mind.
PRICE YOUR HOME FOR A BETTER OFFER
- More than 4 million homes are listed for sale in the U.S. each year.
- Many remain on the market for a long time. Over one-third don't sell. Many would if they were priced correctly.
- Know what real estate market conditions exist, every property has a top dollar value relative to the market.
- No matter what the market is, people are looking for a way to position their house in order for it to sell at the highest price possible and in the shortest time.
Buyers today can find out what is on the market and how it's listed or sold for, even before they contact an agent. They will be comparing your house with them and seeing many of them in person.
Consumers always want the best product, at the best price, that meets their needs. Isn't that what you want when you buy your next home?
A Comparative Market Analysis (CMA) will tell you what houses similar to yours sold for and how long they were on the market. There will also be information about homes that did not sell. Pay close attention to why they didn't sell. You don't want one of those reasons to be the reason your house doesn't sell. There will also be information about homes that are on the market now; your direct competition.
RECIPE FOR A SALE - FIVE INGREDIENTS
1. Location.
2. Home Staging and Condition.
3. Terms. The more terms you can offer, the easier it is to sell. Ask your agent to help you.
4. Market. The market affects value and average selling time.
5. Price. The Number One Factor.
In order for a house to sell, the list price must be in direct relationship to the other four ingredients. If just one of those ingredients is out of balance the property will take longer to sell and the dollar amount will be less. The true value of a home is the price a buyer is willing to pay to gain ownership of it.
Two things happen when the list price is too high--fewer people will look and the selling time will be longer. The more competitive the price, the more likely you are to sell quickly. The most critical time to sell the house is in the first 30 days, because there is more showing activity in the first two weeks when it's first on the market. You want your property to be positioned competitively so you don't miss out on that first initial surge of interested buyers.
As I said earlier, home staging can help you justify the asking price by positioning the home more favorably in the buyer's mind. But if a home is overpriced, buyers might look but they don't buy. You may have had an appraisal done, but that doesn't necessarily mean that amount is the fair market value of the home. When you decide to sell, it's what any given buyer is willing to pay that counts.
In any real estate market you can divide a home for sale into three categories:
1. NEVER SELL. Because most of the ingredients of the sale price are out of alignment: poor location, no terms, not great condition and overpriced. Unless the ingredients balance, these homes will never sell.
2. USED. These are homes where owners say, "Let's just try to sell." Probably one or two things out of balance, it might get shown, but it won't sell. These homes are used to compare and show the better value of other properties.
3. PRICED RIGHT to match market conditions, and the five ingredients are aligned. These homes will sell.
Do you want to be in your new home enjoying it, or remain in the house you are living in right now? Overpricing limits exposure; ultimately your price will determine what property you will be in!
Overpricing disappoints buyers. They are expecting more, and you can't negotiate without an offer. Like the stock market, you can only sell for what the market will bear.
FINAL WORDS
Selling a property in today's market requires strategic thinking. I provide real world staging strategies that work well for everyone, especially families with kids and pets, at a price that is affordable. Where do you want to be 30 days from now?
813-785-8553
ann@stagingsouthtampa.com
Staging South Tampa is the premier Tampa home staging company serving downtown,
Harbour Island, Davis Islands, Hyde Park, Beach Park, Sunset Park, Palma
Ceia, Ballast Point, MacDill AFB and all of South Tampa.
Content Copyright . Staging South Tampa, LLC. All rights reserved.
ann@stagingsouthtampa.com
Staging South Tampa is the premier Tampa home staging company serving downtown,
Harbour Island, Davis Islands, Hyde Park, Beach Park, Sunset Park, Palma
Ceia, Ballast Point, MacDill AFB and all of South Tampa.
Content Copyright . Staging South Tampa, LLC. All rights reserved.
