A lot has changed in 2020 and how things used to be done sadly are not possible at this point. For the Real Estate industry like many, we have had to reinvent the way we manage and sell property completely, handle inspections and protect our staff, clients, tenants and trades daily.
With so much change in the marketplace, some people might be questioning, is it possible to sell a home in the current market? The short answer is YES, it's just done a little different these days.
Last week I attended an international real estate conference (Via Zoom), and an agent described buyers activity like speed dating on an app. You have seven seconds to catch someone's attention or risk them swiping left to the next property.
Another interesting point that an agent raised is that if a buyer attends an in-person inspection, it should be classed as a second inspection as buyers are researching homes a lot more online and shortlisting only their favourites to view.
So with the internet playing such a large roll in people choosing what to buy how do we ensure your home makes that exclusive list of in-person inspections? Here are our top six tips to help your home stand out from the pack and secure that exclusive first date.
Presentation is key
It should be no surprise to anyone looking to sell a home that presentation goes a long way to attracting interest, if people can imagine themselves living the space then you are halfway there to an in-person inspection.
The same can be said about street appearance, make sure the lawns a mowed and that the overall look of your home is appealing from the street, a good tip is to cross the road and look back at your home to get a buyer perspective.
2. Simple renovations can go a long way
Today's buyers, in large, do not want to fix up homes and if your thinking that buyers might not like the colour your paint a wall or the type of carpet you put into the house then ask yourself "If you can spend $1,000 to make $2,000-$3,000, does it matter if buyers repaints or changes the flooring again when they move in?"
You must understand that buyers are looking for homes that meet their criteria, not yours. Homes that resonate with current buyers' tastes will reap significant rewards, while homes that do not will languish on the market.
Buyers want updated kitchens and baths with solid surface counters, contemporary tiles, upscale laminate floors, energy-saving features and more. Today's time-stressed buyers do not have the time, energy, or even the know-how to fix up a home. Most will gladly pay a premium for gorgeous, move-in-ready properties.
Remember though It's important to not over-improve. We are looking for maximum effect at the lowest cost. Therefore, focus on removing objections rather than over capitalising. I like to call this the "I like it… BUT" effect. Every time a buyer uses the word, BUT it usually equates to $1000 of their intended offer, the more BUT's we can remove the better the outcome when it comes time to sell.
4. Staging a home for sale
It's no secret that staging works and when you live in the home you are selling, then you have to work with what you have however some small tips and tricks can be applied to improve the overall look of a home for sale. Some of these items can be as simple as removing magnets off the fridge and de-cluttering the house to make it feel spacious.
Given the seven to ten seconds attitude of new buyer behaviours, it's all about the online pictures that are optimised for mobile devices, that will dictate their decisions. While we can understand that it might not be cost-effective to hire furniture to fit out a home for sale if the property is empty then simple options like virtual staging can go a long way to help ensure a buyer takes the next step in calling to book an inspection.
5. Online Marketing is key.
Gone are the day of the agent taking photos as buyers expect so much more when it comes to online listings. As we have outlined, you only have seven to ten seconds to make a strong first impression, so ensure you have at least 15 to 30 quality photos and then add these additional items if possible:
3D Walkthroughs (Matterport.com tours)
Video, plus anything else that adds value to a buyers experience.
Once you have completed steps 1-5 there is only one thing left to do, and that's to keep a buyer engaged, this can be achieved by ensuring the best photos/features of the home are displayed first. The common idea is that the first photos have to be one of the outside of the house, however, if the kitchen is the best feature, then make that your hero photo.
Talk with your agent and ask for statistics on how your property is performing each week. If interest has been low, then try swapping the order of the photos to help boost engagement.
Following these tips with the right strategy, presentation, marketing and agent will ensure you have a successful outcome if selling in 2020. For more tips, tricks and ways to improve your home for sale don't hesitate in contacting our team as we are always happy to provide free no obligational advice on the best path forward for any property.