A perfectly good house in an above average neighborhood for sale in a hot market.
A formula for success, right?
It is true that the real estate market in Central Ohio is off-the-hook. The current level of inventory is at it’s lowest point in over a decade. Add low interest rates and a new generation of buyers to the mix and we have a strong seller’s market. Common thought amongst Realtors and homeowners is that every house will sell. Probably.
And it’s this line of thinking that has me troubled. I suspect many sellers are leaving money on the table because, ahem, most agents don’t know how to market and the sellers just don’t know. Nor should they. That’s what they hire their agent for, right? (Hint: That’s a future blog post.)
So, to the subject….
I had the opportunity to market and sell a good house in an above-average neighborhood in a hot market.
To keep a long story short, the seller worked hard to get her house ready. We priced it right, worked the marketing plan and went into contract with a buyer. Prior to closing, the seller moved out with her furnishings and then…the buyer’s financing failed. We had to go back on the market.
Not wanting to have an empty house to sell (did you know that studies show 90% of buyers now can’t visualize the potential in a home?) I arranged for a meeting with one of my favorite home stagers. The seller paid approximately $1,600 for the consult, delivery, set-up and rent of new contemporary furnishings. My photographer shot new photos. The house looked amazing.
Within 4 days we had 3x more interest than we originally had in the house and received 3 offers. The property closed with the second buyers at a price that was $10,000 higher than with the first buyer.
Does staging matter? I think so. Here are some photos:
Buyers want to buy. They don’t want to be sold. Seeing a house with the latest pieces from their favorite retailers helps them buy and pay real market value. It is our reality shaped by HGTV.
Like it or not, I don’t see it changing anytime soon.
Contact me to learn more about my proven 20-point marketing plan and how it can make you more money.