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Archive for the 'Why Buyers Buy' Category
Dirty houses don’t sell
Categories: Why Buyers Buy
We just showed a few homes in Dunwoody today to a BUYER and what we heard just reinforced what we already knew - dirty houses don’t sell. Nobody likes to walk into a house that smells, is dirty, has cobwebs, grease on the kitchen counters, the carpeting is stained, moldy grout in the baths, and you can’t see through the windows…
When a home is not clean, it distracts the buyer from noticing what counts - the best selling features aren’t even noticed - floor plan, square footage, design elements - because the BUYER is fixated on the dirt and the unpleasant odors and just can’t get past it.
By far, when preparing a home for sale, the best money invested is with a professional cleaning service. Everything needs to be super clean - starting with the kitchen, including the refrigerator, onto the baths, including the grout, the floors and baseboards, the ceiling fans, window treatments - especially when the curtains hold all sorts of odors - from smoke to pets…
According to the National Association of Realtors, BUYERS are used to seeing as much as 25 percent of available inventory as new. Brand new means clean. That’s the competition, and the closer the home owner / SELLER can get the BUYER to think of the house as new, the likelier the property will sell.
More than 33 percent of home buyers prefer a home less than 10 years old, yet the typical home purchased by all buyers is 12 years of age. This tells us that condition is very very important. And if you take a community like Dunwoody, where the average age of a home is 30 plus years, there could be a lot of layers of potential dirt to be dealt with in order to make a home to feel fresh and clean. So here’s the ROI… for every dollar spent on cleaning could mean thousands kept as equity…and who doesn’t want to get the most amount possible on the sale of their home?
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How to Sell your House in a Buyers’ Real Estate Market
Categories: Atlanta Real Estate News, Market Conditions, Selling Your Home, Why Buyers Buy
Here’s what it takes to sell your house…
Adjust your mindset:
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Realize that you are no longer in a Sellers Market and you must adapt in order to get your home sold.
It wasn’t too long ago that having the best home on the block meant that you would get the best price on the block, too. Not so in today’s Atlanta real estate market. Having the best condition and location are still very important, however, no longer do they equate to getting the best sales price.
Understand the Buyers’ Psyche:
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Buyers want the same for less, or, they want more for the same.
Plain and simple, Buyers have many homes to chose from in today’s market and yours must stand out amongst the competition. How do you stand out? By giving the same for less, or by giving more for the same. Take a critical and honest look at your home’s condition and location, then price accordingly.
In a Sellers’ Market, Buyers tend to be emotional about a house.
Conversely, in a Buyers’ Market, Buyers seem to be logical about a house.
What makes a person decide to buy a home? The number one reason is that they are afraid they’ll lose it. It will be gone. Sound crazy to you? Take a look at my argument and you’ll see that it works for both a Sellers Market and a Buyers Market…
In a Sellers’ Market, not much inventory exists and it is common to have multiple offers on the same property. When a Buyer finds a property that meets their needs and desires, they will do what it takes not to lose it. Emotion drives the Buyer and even if it means a bidding war, and, perhaps over paying, they’ll do it so as not to lose the house.
In a Buyers’ Market, a lot of inventory exists. A Buyer will typically see 3 or 4 times more the the amount of homes they do as in a Sellers Market. A Buyers’ Market Buyer, otherwise known as a Seymour as in see-more, is driven by logic - he wants to see everything, know everything, research everything. He will know the market like the back of his hand. He is waiting for the right house. He is reluctant to buy until he finds the one and the only way to ’capture’ a Buyers’ Market Buyer is to give him what he is looking for… the same for less, or, more for the same …making him feel that your home is such a great deal that he’ll likely lose your house to another buyer. That it will be gone. That scares him. Logic says this a great home at a great price. Emotion kicks in and will tell him he must make an offer so as to not lose your home.
Even in a Buyers’ Market, fear of loss is the still the number one reason why people buy. Make your home that compelling case where both emotion and logic win.
| Discussion: 2 Comments »
