I thought I knew everything I needed to know about real estate when I entered the profession after a ten-year career in mortgage banking. But I was very wrong; I had a lot to learn about people and the psychology of home buying. Let me share with you what this Realtor has learned after 25 years of selling homes:
Your first showings are online
Professional photography is a must and before the photographer comes, the pillows get fluffed; towels and bedspreads straightened and the home and yard prepared for what will be the home buyer’s first impression of the listing.
Don’t forget curb appeal
The landscape of most homes can use a little clean up. Trees and shrubs should be trimmed, flowers planted and fresh mulch or rock in the flower beds. The front porch should be welcoming.
Love at first sight: 80% of home buyers know if the home is right as soon as they cross the threshold.
Our brains process more information in less time than we know. When preparing and staging your home for sale focus on first impressions.
Preparing your home for sale is much more than just giving it a thorough cleaning. From the first minute a home buyer eyes the listing on Realtor.com to the instant they walk through the door, what will it take to make them fall in love?
Is Home Staging Worth the Expense?
It’s not about the expense; it’s about the return on investment! The ROI of home staging is 7-10% more than a non-staged home. Also, staged properties sell 50-80% faster than non-staged homes, eliminating several potential months of carrying costs. Focus on what the buyer sees when they first walk in the front door. Kitchens and master bedrooms are big selling features too. I have learned that small bedrooms appear larger when staged with appropriately sized furniture. Often in a home with a den and just two or three bedrooms, the den should be staged with a daybed, which offers the buyer the vision of this room as an additional bedroom if needed.
Buyers find scent confusing
Complex scents such as vanilla and cookies can be a distraction to potential home buyers as they subconsciously try to figure out what the scent is. At an open house, you don’t want a buyer distracted by dissecting an aroma. Simple scents – such as pine, lemon, or cedar — are easier to process and less distracting.
Pricing
Recognize your audience! If you are in a community where Chinese buyers are rampant, know that the number 8 is lucky and the number 4 is bad. Don’t be a bargain basement seller – instead of $999,999 just bump it up a dollar to $1,000,000, that’s what buyers are doing in their minds anyway, so don’t cheapen the product.
