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Selling Smart

August 13, 2012
 

My House isn’t selling, Now what?

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If your property is sitting on the market, not receiving offers, or has offers less than you expect then there is something wrong. Either the price does not reflect the true value of the property OR the condition of the property does not support the price either way you are faced with a dilemma.  How do you get a second chance if you failed to capitalize on the first opportunity?

If you want to sell property in the shortest time possible and for the highest ROI then “Good enough” is not appropriate language.  In my experience home sellers often fail to understand that literally everything counts when selling.  However long the property has sat, the marketing message has been “will you buy my old house? It needs to change to “Come buy your new home”
Think beauty pageant and you will get the idea.  So at this late stage of the game, how can you change the old adage of “you never get a second chance to make a great first impression?”

I have three recommendations: The first thing to do is to take down the For Sale sign and stow it away for when you are really ready; the second thing is fully prepare the property for sale and third have your real estate professional draft a new marketing plan.

Research shows that the most people ever to view your property will come during the first ten days it is on the market; the challenge now is how to get them back.  It is likely very difficult, more often than not that ship has sailed, it is time for a new marketing strategy.

Professional staging is the answer and the missing link to revitalise a flagging real estate market.  With the onslaught of TV shows aimed at sending the message to buyers that they should expect a well presented, well maintained house you had better get the most help possible to make your house memorable.  Many ask but is it really worth it at this point to enlist professional help? You bet but it is not a place for faint heart and weak intentions!  Creative marketing efforts will need to be initiated in addition to seriously, objectively addressing the condition of the property, both inside and out.

Research shows that more than 63% of buyers will pay more money for a house that is “move- in” ready, and in the opinion of 1000 real estate agents preparing your house for sale before you put it on the market brings 589% ROI (according to HomeGain.com); what that means to a seller is that every effort put forth to make the property as move in ready as possible will move you closer to offers you will be thrilled to accept.

People are profoundly impacted by what they see, hear and smell; never before in history has it been so important to fully prepare property for sale before anyone sees it.

Some of my top tips which often get overlooked are:

  • Have a pre-sale home inspection done; – check for all fine details and ensure price and condition match
  • Review every space floor to ceiling inside and out; assess does it need to be: cleaned, replaced, repaired, refreshed, renewed, packed and or painted
  • Hire a professional staging consultant who truly understands the difference between staging for sale and decorating for living will ensure your dollars are wisely invested

In the race to secure a buyer if you don’t stage your property, know the house down the street will be staging theirs which puts your property at a distinct disadvantage -unless of course your goal is to attract “flippers” -the people who want to buy your house at a bargain price then do all the work necessary to flip for a profit!

Staging your property after the marketing has started is rather like closing the gate after the horse has bolted however, as long as the horse is recaptured it is sound advice. True you have lost the ground the property sat but with new paper work to bring the staged property on the market as a new listing, some creative open house strategies and unique hooks for agents you will regain interest and sell more often than not without reducing price AS LONG as condition matches value.

Buyers buy emotionally but do remember a property will only ever sell for what a buyer is willing to pay and in the end it is their perception of value which counts not yours.



About the Author

Christine Rae
Christine Rae
Christine Rae, founder and president of the Certified Staging Professionals (CSP) International™ Business Training Academy, is well-known and well-respected for her work in the Redesign and Staging industry and as an international trainer. Her passion for staging and decor, her desire to help people and her talent for training are reflected in the success of the Academy. Christine's dedication to excellence has developed CSP® into an international success and into more than just a training facility - the CSP® Academy is also a resource centre and a support network.



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