McClelland Minute - December 13, 2009

I’ll take the house dressing, please…

With an ample supply of residential real estate available across the Midwest today, I field calls almost daily asking what can be done to get a property sold.  Homeowners usually have two common goals when selling - do it quickly and get the most money the market will bear. Obviously, if we reduce the price to the extreme, the sold sign will go up, but that only accomplishes one out of the two goals.

Buyers consider four factors in every home purchase: Price, Location, Condition, and Presentation.  Although we can’t change the location of properties, the other three variables are within the seller’s ability to adjust in order to make the property more appealing to a buyer.  I see well over a thousand different properties every year and deferred maintenance always concerns me.  As for asking price, well, we have discussed that numerous times in this column; don’t get greedy!

First impressions are everything.  From the time the buyer pulls into the driveway to the time they are standing in your kitchen, they have already formed an opinion on whether or not this is the right property for them.  Clear the walkway of snow, garbage bags, recycling bins, and bicycles. In summer, add some color – a large pot with a flowering plant or a new front mat shows someone cares.

Once inside space, light, and smell are the three kings.  Your house should feel open and welcoming.  Since you have already made the decision to move, I encourage sellers to purge their belongings using the one third / one third / one third rule.  One third should be sold, given away or sent to the dump; the one third that isn’t needed in the next two seasons should be packed into boxes and stacked neatly into one room or the garage, or placed into offsite storage; and the remaining third used to show case the property.  House hunters are not interested in your bowling trophies or teacup collections; they are concerned about having enough space for their possessions. 

Staging is the practice of presenting the attractive attributes of your home while mitigating those aspects that may turn potential buyers off.  Think of it as a high stakes household dating game! Touch up scuffed walls, clean all windows, shampoo carpets, update cabinets with new handles or doors, re-caulk around the tub, invest in a new shower curtain and matching towels, and most important, paint, paint, paint.  Store away the six hundred pictures of your wedding and children.  The objective is to give the buyers permission to see themselves living in what will soon be their home by neutralizing and de-cluttering it.  Every hour, every dollar that you spend on dressing your home for success will come back to you; in fact, in our experience you may gain up to five times what you invest.  You will be proud of what you have achieved and it makes for a good start in your next home!

Vern McClelland is associate broker with RE/MAX of Lloydminster.  If you have questions or comments on this article or other real estate matters, he can be reached at 780.808.2700 or through the McClelland Group website www.mcclelland.ca

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