Selling
YOUR home in the
mid-Michigan market
Many
homes...few buyers
Statistically, not all homes CAN be sold. Each year
the he Greater Lansing area attracts only enough buyers to
purchase a third of the inventory. If every home was perfectly priced and the Lansing
market had a record sales
year, two-thirds of the homes would
still remain unsold at years end.
Make your home
STAND OUT!
To sell in
this market
you need to make your home so irresistible that a
prospective
buyer will choose YOURS over all the others. You will need to be
objective when setting your price and you’ll need to begin looking
at your home’s spaces and condition in the same way that a buyer
will.
Price
to
attract buyers
Buyers tend to
shop by price and usually don't make offers on homes they
can't afford. The
number one attraction
for the Buyer is the asking
price. Setting the price much higher than you'll accept is
sending the wrong message.
Send a clear message - set a
realistic asking price that will attract buyers to your
home.
Market
to the way buyers search
The internet has changed the way buyers
search for homes. The traditional methods - yard signs, newspaper ads, realty magazines, and
open houses are no longer
the most effective marketing tools.
 |
According
to recent National Real Estate industry statistics: |
- 90%
of all
buyers use the internet to search for a home
- 98% of
all buyers want to see multiple
photos and virtual tours
- 78%
of
all buyers will not click on a
listing that has no pictures
|
|
Buyers are
using the internet to make home selections before contacting
their agent for a viewing. Their choices are based on what
they see online.
The old adage about "first impressions" is a given in Real
Estate marketing. |
What buyers want...
Buyers want
to see more than a page full of room sizes, a puffed up
description, and a single picture of your
home’s front
elevation. They need to see an impressive internet
presentation that will stimulate them to want
to take a
personal tour of your home.
One "click" and
you're history!
While proper pricing will attract buyers, a poor
internet presentation can loose those prospects
forever.
With so many homes to select from, buyers click
past listings that have no pictures and
won't linger on a listing with only one picture
and no interior photos. Dark, fuzzy,
distorted and out-of-season pictures weaken your
property's appeal and only serve to create a
negative impression in the mind of the
prospective buyer.
Remember, the buyer is planning to make a major
purchase.
He needs to be impressed with what you
have to offer.
Remove as many objections as
possible
The more you can do to make your
home appealing to a buyer, the better your chances of
getting an offer.
Buyers choose a house because
of
the way it "feels", frequently giving
a
"yea or nay" the
moment they walk through the door. What they see, hear and
smell will make all the difference.
Home sales are lost because of unkempt
lawns, cluttered rooms, stains,
and unpleasant odors...things you've gotten used to and don't notice any more.
As Realtors, we see the reactions and hear the comments of
discouraged buyers as they visit such homes.
Mentally detach yourself from the house and try to look at
it the way a buyer will. Most buyers are looking for a home
that is "move-in ready". First time home buyers usually
don't have money for repairs and will be turned off
by too
many defects.
Buyers moving up to a more expensive
home are expecting luxury and upgrades. These buyers are
generally too
busy with their careers to take on the task of
upgrading a home.
Buyers in the current
economy
The current economy, the energy
situation and home improvement shows on cable television
have had an effect what buyers are expecting in a home. They
look more critically at the age and condition of the
heating and air conditioning, windows, roofing, foundation,
utility bills and the home's overall condition. They quickly
evaluate a
home based upon how much it will cost for updates
and repairs. Thus, a home
with great curb appeal, that "feels" like a home the buyer
could live in, might easily be rejected because of it's
condition.
Make necessary changes and repairs
Don't let a
repairable or easily corrected condition stand between you
and the sale of your your home. Should
you be getting feedback indicating that buyers love everything about your home except
for the water
leaking through the basement walls, then have
this repaired to remove the objection. The home will sell
sooner!
|
NOTE: Buyer's
almost always estimate the cost of a repair to be
two or three times greater than its actual cost.
They usually have no practical basis for their
estimate, but still use it a guide when evaluating a home. |
