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.
