Dear Kathe:
We have read what you have to say about home staging and getting your home ready for the market, but couldn’t we test the market and see what buyer thinks before making improvements?
It sometimes surprises me that homes which look great on paper – well priced, good condition – do not sell, and I often wonder why not? After reviewing statistics, the question often remains. All the data suggests that the home should have sold. So why then is it not sold? This can be a very difficult question for frustrated sellers and their agents. Recent studies show that greater than 60% of buyers (both men and women) know whether a home is right for them the first time they walk in the door – they just have a “gut instinct.” This is consistent with what I often tell home sellers – more often than not, people are guided by emotion in making their buying decisions and emotions are rarely something we as professionals can reduce to a clear-cut action plan.
What does this “emotional buying” mean for you, the home seller. First and foremost, it means that “first impressions die hard” – you will probably only get one chance at a buyer. Revisiting prospects later with news of a kitchen update, home staging or offer of a carpet allowance is usually a complete waste of time with respect to those buyers – they saw your home, had a negative gut reaction, and moved on. The focus needs to be, instead, on buyers who have yet to have that “first impression.”
If you are not yet on the market, it drives home the message once again – the message I have been sharing for years now – it is critical to enter the market ready to create an emotional “wow.” Partnering with a home stager, many of whom offer reasonably priced consultations, gives you the best chance of meeting current market expectations. An experienced agent should be able to give you some suggestions as well. Many of the basics I have covered in the past include: remove all wallpaper and paint with a neutral color palate; replace colored wall-to-wall carpeting with neutrals or, if possible, remove entirely to expose hardwoods; declutter and remove personal effects. The trick comes in not sterilizing décor too much – it’s important for the home to still create a warm and inviting feeling – just not one that feels too dated or too personal. Feel free to give me a call if you would like advice on how to best create the “wow factor” in your home.