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The Tale of a Property Long on the Market

By April 28, 2015 No Comments

Tales help us learn from others, especially regarding properties that linger on the market. Recently a Real Estate agent called me in to do a consultation for a seller. The home had been on the market for over a year. The RE Agent let me know that she just convinced the seller to drop the price to comparable properties on the market. The pluses were a reasonable price I thought then it should be able to sell faster.  The property was in a desirable family development, on a corner lot. It needed a little bit of curb appeal improvement but overall the property was appealing from the outside.

As I met the homeowner she informed me that “her” taste was “outstanding! In my mind, before I even walked into the property I thought uh oh, the seller will not be objective to changes.  She continued, “Everyone loves my home and was only letting me in because the RE Agent insisted I should have you come and take a look.” We proceeded to the front door and this is what I encountered…

dated entrance of a property

 

The presentation of a property impacts buyers.

The “smoked” mirrors, with a dusty wreath attached, faux rocks with black grout and a brass chandelier from the from the 1970’s. This property was not conveying what current buyers were looking for. That light bright welcoming cheery feeling when entering into a property. When selling a house your goal is to try to make it feel as bright and appealing when someone enters, it is their first impression. Reducing taste specific preferences as much as possible allows the buyer feel at home, not intimidated that they are entering someone else’s home that could never be theirs.

As we took a tour of the house I felt as though I had been teleported to another year. Although the house appeared neat, the stain on the ceiling “isn’t really noticeable, my husband fixed it” The chandelier that was hanging, was doing just that, it was not plugged into anything nor wired, but “a beautiful addition to the room” the seller told me.dated decor

Improvements to the property

We discussed the possibility of changing a few items that would open up the buying market of their property. When you are taste-specific with the style of furnishings in a property you narrow your buying group. Updating lighting, removing the lace curtains to allow the light to come into the room, moving and removing some of the furniture, removing the dated wallpaper all can give a property a new fresh feeling. The seller felt the effort and expense would not be worth it because the “buyer can offer $1000 less and they can do the work.  Wishful thinking on her part.

As I said tales allow us to learn from other’s experiences.  They eventually lost over $60,000 on the original listing, not to mention it took an additional 9 months to sell and the carrying costs that the seller incurred during that time. If they only were willing to be objective. To understand that a property on the market is a product. It is in competition with all other properties. What makes one property stand above the others is the condition. The condition that it is appealing to sell and appeal to a wide range of buyers.

As an Agent or a seller, bring in a professional home stager at the beginning of the selling process. If you are working with an Agent ask your Agent to have a professional consultation with a Stager. This Agent knows the importance of staging this property but unfortunately was the third listing Agent to work with the seller. The key to having a successful sale is understanding the importance of being objective, what a buyer wants today, and how the marketing of selling properties has changed. 90% of buyers now search for their next house online. They spend less than eight seconds looking at a house or pictures of a house unless it appears as they expect.

Believe in the importance of the staging consult it will help the seller understand how to improve a property to market it. Your Professional Stager partner will ensure a listing is presented in the best possible light. Staging will help save everyone money in the long run.

Karen GP

Author Karen GP

Karen GrayPlaisted is the principle owner of Design Solutions KGP. She is a graduate from Pace University and The Fashion Institute of Technology in NYC. Her marketing background and design sense are a perfect combination for home sellers. In the first year she began her staging business, she won the ‘Rising Star’ accolade from RESA, selected from all North American stagers, USA and Canada. In 2016 she won top Occupied Stager in the USA. Karen’s ability to educate and empower clients using simple solutions allows homeowners to transform their spaces with desirable affordable decadence.

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