Where Do People On Hgtv Put Their Furniture During Renovations The 5 Biggest Mistakes When Selling a Vacant House

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The 5 Biggest Mistakes When Selling a Vacant House

There are many reasons why a house may be vacant when it is sold – various reasons include:

* new construction

* moving property

* the seller has already moved to his new home

* this was a rental property that is now for sale

In all of these cases, the bottom line is that SELLING the property FAST is CRITICAL. There is a lot of money on the table due to ongoing mortgage costs, maintenance costs, insurance and other costs that need to be paid for all those months that the property sits on the market without any income stream.

Selling quickly in a buyer’s market and in a down market is a challenge, but it’s especially difficult for empty homes. Vacant homes typically sell more slowly than occupied homes. What are the 5 biggest mistakes when selling a vacant property?

Mistake #1: Selling a home as a VACANT property

We just said that vacant homes sell more slowly than homes that are occupied. why is that?

A. People don’t buy houses, they buy houses, they buy lifestyles! Without furniture, wall art, rugs, lighting, decorations,… there are no emotional connectors in a home – a home doesn’t show its soul and the lifestyle any buyer can desire.

b. Buyers have no reference point

* empty rooms look smaller

* buyers cannot see how much furniture will fit in their room

* they can’t imagine how to functionally arrange a room – how should I face the sofa, where does the TV go, can I fit in…..

By adding the right furniture, rugs, lighting, wall art and other decorations that reflect the lifestyle of your target buyers, they will feel drawn in and help them imagine living in this home.

C. When a room is empty, buyers focus on negative details

It’s much easier to notice cracks in walls, paint chips, missed repairs,… if buyers have nothing to look at. When we give them a welcoming home, they focus more on how they can live in that home than what they don’t like about it. During the staging, we emphasize the positive properties of the property and at the same time downplay the negative ones.

d. Only 10% of home buyers can actually imagine the home’s potential

Nine out of ten people who walk in your home have no idea of ​​the amazing possibilities your home has to offer.

Mistake #2: Wait to see if it goes on sale

As a home stager in Connecticut, I often get the response from clients, “I want to see if it sells vacant before I consider staging.” This can be a very costly mistake.

Selling a home is all about FIRST IMPRESSION. On a new listing, most traffic is generated within the first 2-4 weeks.

A real estate agent’s open house gets real estate buyers into the property. They are your “salespeople”. If these agents are not excited by what they see, they are less likely to bring their buyers to your property instead of your neighbor’s house on the market.

Let’s say you change your mind down the road and get the property staged and then have another real estate open house. It will be hard to get agents to go back to the property as they have already seen it and don’t want to waste time, nor will their buyers come back a second time.

So now you’ve wasted all that traffic and time on the market without showing the home’s best potential. If you had it ready in advance, you may already have it sold.

Mistake #3: You don’t differentiate your ad from your competition

Put yourself in the shoes of a home buyer – 94% of home buyers begin their online search by first viewing all photos of homes within their qualifying criteria. They can see this:

House No. 1: spare room with fireplace and 4 windows

House No. 2: spare room with fireplace and 4 windows

What makes your house different from these other empty houses? Why should they visit your home? There is nothing to draw buyers into these homes.

Remember – A SALE CAN BE LOST WITH ONE CLICK OF THE MOUSE – if your home doesn’t stand out and attract these buyers to visit, you’ve lost a potential sale.

Mistake #4: Price has now become your only marketing strategy

Selling a home, usually a homeowner’s most valuable asset, is no different than marketing a commercial product. Location, condition and presentation, price and promotion must be considered together. You can’t do anything about the property’s location, but you can influence other marketing factors. The price is affected by the location and condition and presentation (packaging) of the house. Promotion to drive traffic to your home will be most effective if the presentation and photography are professionally done.

So if there’s no showing off, the promotional images won’t stand out, so price is now your only marketing strategy.

Buyers are willing to pay more if they feel emotionally connected to the home – on average, staged homes sell for 5-10% more.

Mistake #5: Viewing home staging as an EXPENSE instead of an INVESTMENT

Staging a house for sale can help you MAKE money. It’s an INVESTMENT in your home selling process – most home staging investments are between 1 and 3 percent of the listing price, which results in a 5 to 10 percent higher sale price – nice, but not everything. If you sell your home faster, you’ll SAVE ongoing mortgage payments and management costs. See more details and examples of how Birgit Anich Staging and Interiors have helped their clients PROFIT with staging.

Barbara Corcoran, one of the leading real estate experts in the US, says, “Never sell a house without furniture!” “Once the preparation is complete, you may even find that you can raise the price.

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