Making that First Impression

Making that First Impression
By Dan Steward

RISMEDIA, January 10, 2011—When getting a home ready to be put on the market, it is crucial that home sellers understand the importance of making a good first impression. While many sellers become overwhelmed with the amount of changes they think must be made before their home is listed, there are only a few areas that really matter.

People decide within 30 seconds of walking into a home whether they might want to buy it, so it’s crucial to make a great first impression. But nobody wants to overspend on anything these days, so it’s important to spend only on those things that really matter.

Based on our experience working with thousands of REALTORS® across the country, here is a check list that you can use with your clients that will make their homes more likely to sell and garner better prices:

Curb appeal. While people spend lots of time on details inside the home—to the point of, perhaps, baking cookies to create a welcoming aroma—too few focus on the real first impression: how the house looks as prospective buyers step out of their car.

Spending a little money on gardening can remove impediments, such as overgrown foliage. The effort can also brighten a home’s appearance and make it much more welcoming. A bit of gardening can help paint a scene, so possible buyers can see their kids playing in the yard or can imagine sitting outside in the evening with a glass of wine.

A survey by HomeGain found that spending $400 to $500 on fresh landscaping can add almost $2,000 to the price of the house.

What’s the condition? Conversely, not making repairs can cut the price of the house. The issue can be partially addressed just through eyeballing. Sellers should look for cracks, damaged paint and so on, trying to imagine the impression that buyers will have.

Sellers should also commission a home inspection, so they have their own view of the state of their home, before the buyers’ inspector begins aggressively looking for problems. Sellers who have their own report are better able to push back both about the extent of any issues and about the likely cost of fixing them.

Even if buyers aren’t turned off entirely by what they see as disrepair, they typically ask for $2–$3 off the price for every $1 of repairs that they perceive are needed, so it’s crucial for sellers to know that, say, the roof needs to be replaced. That way, the sellers can spend the $5,000 themselves rather than face a buyer demanding $15,000 off the price of the house.

Finding the right assistance. There are loads of services that help with staging, repairs, and so on—so many, that clients are often confused about which to use. Realtors often provide their expertise here and refer clients to businesses. That approach works great for many, but some want assurance. That’s relatively easy to provide these days, based on a little checking on search engines. Clients should also be encouraged to post queries on their Facebook pages, asking friends both to suggest businesses to use and businesses to avoid.

Dan Steward is president of Pillar To Post Home Inspections.

13 Unique Ways to Sell a Home

For Your Clients: 13 Unique Ways to Sell a Home
By Paige Tepping

RISMEDIA, September 16, 2010--In today’s market, it takes more than painting and trimming the bushes to get noticed, to stand out, to make your home memorable. While home sellers across the country are resorting to dropping the price in order to make their home more attractive, it leads to one crucial question: what can I do differently to make my home stand out?

Larry Nusbaum, Resolution Assistance Contractor for the FDIC, offers the following tips for home sellers looking to differentiate their homes from the numerous homes that are on the market today.

1. Get lighted signage that’s illuminated even after dark. This will give prospective buyers extra time to see your home as they don’t have to depend on sunlight.

2. If you or your agent are hosting an open house, be sure to serve light snacks and hand out something that attendees will remember. You want something that will be a positive reminder of your home—seasonal gifts are the perfect way to stay top of mind. Be sure to at least have pens and key chains with your agent's name and contact information on them.

3. Create an informational flyer with all the local conveniences you can find: shopping, schools, universities, hospitals, malls, restaurants, gas stations and attractions in the area, in addition to local police and fire stations, even school bus pick up locations. Assume your open house attendees don’t know the neighborhood.

4. Hand out information pertaining to your home as well as information on the other listed properties in the area showing that your house is the best value.

5. Do some staging to make sure your home looks its best.

6. Be sure to offer incentives. Some examples include a Lowe's gift card, paying for a year’s worth of yard care or a free session with a landscape architect, offering a $1,000 landscape allowance, paying for a years worth of homeowners fees, offering $1,000 for new appliances or any home improvement, offering a new carpet allowance or paying for lawn service for a year—the possibilities are endless.

7. Paint the garage floor (concrete paint). Making the garage look fresh and clean will make the whole house feel newer.

8. Send letters to all the neighbors inviting them to “pick their neighbor,” and be sure to include information about your home and the open house. Give them an incentive to talk about your home with other individuals in their sphere of influence. (i.e. a $200 gift card if they find your buyer).

9. Put up signs in your front yard and be sure to hang up as many directional signs as the neighborhood allows.

10. Put out flyers in surrounding shopping areas.

11. Have your agent create a video of your home and put the virtual tour on the Web.

12. Have your agent post ads on Craigslist and on any other free online listing sites you can find.

13. E-mail HR departments at local companies as many employees prefer to live close to their jobs but don’t make time for the house hunting process. This will make it easy for employees to find your home.