Friday, February 26, 2016

#6 Condition, Price, Presentation – It’s a Balancing Act!






 Home Staging Tips and Suggestions by Melinda Potcher

The old adage I used to hear when I first got into the residential real estate industry here in New Mexico in 1994 (and I’m sure you have heard it before too) was “Location, Location, Location”.

Today, location still plays a part in the marketing of residential real estate as does “Condition, Price, and Presentation”.


Condition means addressing any deferred maintenance issues like fixing a hole in the wall to updating your kitchen and bathroom to appeal to today’s savvy buyer.  It means that when you hire a Realtor in preparation to put your house on the market, (and hopefully a professional home stager like me) that you take a critical and objective look at the overall condition of the property, inside and outside and make a plan to address all items that could be judged as significant in a potential purchaser’s decision when they are considering whether or not to buy your house, vs. the one down the street that has something more appealing.


You may also be advised to have a “pre-listing” home inspection to uncover any unseen repair issues and take care of those items prior to putting your house on the market for sale.  Realtors I talk to in the Albuquerque Metro Area say that pre-listing inspections that are performed on houses they list for sale tend to remove any sticking points once a house is pending and under contract.


Price means you have discussed values and comparable sales in your specific area with your Realtor, and based on the “comps” choose to price your home competitively with other properties that are currently available or have recently sold and closed.  Professional Realtors will tell you that even if you have significantly improved your home and spent time and money upgrading it, when pricing your home for sale serious considerations must be given to what the market will allow for your specific neighborhood. 


Example; A loved one in your family passed away and after inheriting their property, you make significant improvements like granite counter tops and extensive landscaping to make it more attractive to buyers.  Even though you may have spent $30,000 on these upgrades, you may not see a full return on your investment if the other houses in the neighborhood have minimal landscaping and perhaps tile or laminate counter tops.  This is where it is especially important to consult with a Realtor prior to making those improvements to get expert advice on how to improve the property and by how much.  A professional Home Stager and Design Consultant (Like Me) can also be of assistance and provide valuable information on the latest colors, fixtures and finishes to use when improving your property.


Presentation – We’ve all heard the cliché about first impressions, right?  This is where a Professional Home Stager (LIKE ME) and your Realtor really come in handy.  You have a very small window of time (typically less than 30 days, some say as little as 2 weeks) when you “hit the market” with your home for sale to grab local buyers and their Agents’ attention.  That means it is key to have done all the necessary things to make your house sparkle – from addressing condition issues, making recommended repairs and upgrades to hiring a professional Home Stager for a thorough consultation of how to present your home in its best light.  Last but certainly not least, hiring a professional photographer to shoot the MLS photos inside and outside and in the best lighting to showcase your house as “The One To Buy and Best on The Block”.


If you can have all three of these items in balance, Condition, Price, and Presentation you have put yourself in a position to have a positive selling experience.












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