One question that I get asked during every listing presentation is, “Is there anything I should do to the house?” Usually, the owner is referring to whether or not they should repaint, or move/remove furniture, or change landscaping, make minor repairs, etc.
The short answer is– YES.
Two or three years ago, the market was so hot and homes were selling so quickly that the need to make improvements to a home prior to selling it was low. Sure, there were owners who wanted to make changes to try and increase the value of the home, but there was not as much pressure to make minor improvements simply to get the home sold. The current market conditions have changed things significantly.
The market today is highly competitive. Inventory is high, and every price range has an ample selection of homes. When I am taking buyers out to look at homes, the amount of inventory is causing them to be a bit more selective. No longer is there as much pressure to write a contract on a home today for fear that it is gone tomorrow. Buyers are much more willing to wait. This means that sellers must work harder to set their home apart from the rest of the market and entice the buyer to act.
Some people will say that they don’t want to spend a lot of money fixing-up their home just to sell it. That’s fine. I’m not saying that you have to spend a lot of money. But think of it this way– if you could spend $500 today in order to sell your home one month faster, would you do it? I would hope so, unless you are lucky enough to have a mortgage payment that is less than $500.
So what can you do to make your home more competitive? Most of the things are simply, and cost little more than some elbow grease:
–Do you have any doors that stick? Grab a screw driver and some WD-40 and fix them! A sliding-glass door that doesn’t open properly can be annoying to a potential buyer. And while it may be easy to fix, they will look at it as a problem, regardless of how easy it is to remedy.
–Any switch plates or outlet covers that are cracked? Head down to the local hardware store, spend the 75 cents a piece to buy new ones, grab the aforementioned screw driver, and get to work. Again, cracked or old switch plates and outlet covers are simple to fix, but buyers who see them will wonder if there is other maintenance on the house that has been neglected.
–Scuff marks on your walls? Re-paint. I know that no-one likes to paint. The fact of the matter is, however, that interior paint can really show the age of a house. Sometimes, in fact, it can even give buyers a mistaken impression about the age of a house. I have been in many homes that, for whatever reason, had walls that looked more worn than they should be. A simple coat of paint can transform a house. Oh, and when you do repaint– go neutral. I’m not saying your walls need to be stark white, but you would do well to stay away from that electric blue bathroom you have always wanted to try. Chances are that you and the buyer will have different tastes, no need to turn them off right away.
–Been thinking about replacing those dying shrubs in the front yard? Now is the time. The exterior of your house is the first thing that buyers will see. You want it to make the best possible impression. Sometimes that will mean getting some new mulch, keeping the lawn trimmed more often than usual, and finally replacing those dying shrubs. No matter what changes you make to the inside of your home, they will all be for naught if no one wants to go inside.
Those are 4 very simple things that anyone can do to make their home more competitive on the market. There are plenty of others. As I said, every home is different, and when you choose a REALTOR to help with the sale, he or she will be happy to offer other suggestions that will give your home the best possible chance to sell.
Don’t forget that you aren’t the only one who can help put your home’s best face forward. Your REALTOR should be doing things as well. The first of which is taking good pictures. Wouldn’t it be a shame if you made all the necessary improvements to your house, only to have buyers ignore it because the pictures didn’t show it off? Pictures will be the first introduction buyers have to your home, and they should be every bit as stellar as the home itself.
Remember, today’s market is highly competitive. Buyers are being far more selective than they have been in the past. Your home will be competing with dozens of other similar homes. In order to give your home the best possible chance to sell, you must be willing to do whatever you can to make your home stand out from the crowd.
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