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HOW TO SELL HOMES FAST FOR TOP DOLLAR

Mindy Cintron

Table Of Contents

Introduction

First Steps to Home Selling

Pareto's Principle

Creating Curb Appeal

Staging with Purpose

Upgrading with ROI in Mind

The Three D's

How To Market Your Home

Common Seller Mistakes

10. Learn From Other's Mistakes

11. Finding Buyers

12. Be A Power Negotiator

13. The Dos and Don'ts of Negotiating

14. Bargaining Chips

15. Why Hire a Real Estate Team vs Solo?

Foreword When we first ventured into the real estate industry years ago, we did so with the hopes of helping sellers like you avoid the headaches often associated with the home-selling process. In our years of experience, not only have we helped alleviate the stress of selling for numerous clients, but we’ve also accumulated years of knowledge to help them get more money for their homes in the least amount of time. We decided to share all of our expertise in one place with potential clients. And that’s why you’re receiving this book. We want to help you have the best possible home-selling experience. That means we want you to 1. Get the most money possible for your home, 2. Sell in the least amount of time, and 3. Avoid the headaches most commonly associated with the home-selling process. Think of this book as our gift to you. It contains insider advice on the home-selling process to help you achieve your ultimate real estate goals, including: • Secret strategies to sell your home for more money • Marketing techniques employed by top agents • Advice on how to appeal to today’s buyers • And much, much more If, after reading through it, you want to hire us to help you, it would be our honor to meet with you to discuss a specific plan to sell your home. Happy reading!

Mindy Cintron- Real Estate Advisor Team Leader - Keller Williams Realty CintronPropertyGroup@gmail.com

678-613-7100

About Mindy A quick story about one of the clients Mindy helped recently. The client came to meet Mindy through one of her homes she was selling. The buyer called and wanted to see the home and met Mindy at the house. This home was not the home for them particularly because they needed more space for more cars and the driveway just wouldn't not accommodate. Through conversation, Mindy discovered they had been searching for a home on the lake for a long time and a Realtor friend of theirs was helping them. By asking a lot of questions, Mindy knew they were losing hope and because they had an end goal in mind of having no mortgage and retiring soon and everything in their price range by the time it hit the market it was gone. Come to find out they had an offer on their home as someone had knocked on the door basically and gave them what they thought to be a good offer on their current home. They were too scared to take it because they could not find anywhere they wanted to move and land the contract. They were considering giving up. Mindy likes to dissect all areas of the transaction and suggested that she come see their home to see with an amazing marketing campaign and some of her top selling strategies if that would allow they to get more than they thought for their home or if the offer they had from a family, not an investor, was a good offer. What she discovered was they could very likely get over $100,000 more with the full marketing campaign and in a very quick time. Even with paying a commission they would walk away with a much better offer as far as terms go and more money to allow them to spend more when purchasing a home if they so desired and/or leave money for some rehab. The clients were ecstatic and unsure at the same time. To keep the story to a minimum and we will get more detailed with the strategy in the book Mindy was hired on to start the process of selling the home getting the home ready for photos, staging, decluttering, professional photos and put her network to work to find the

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perfect lake home for them. Mindy found the perfect home on the lake before it hit the market and negotiated a fantastic win- win deal for them which included a longer closing date to allow them time to sell there home. They were so excited we had 4 days to get the home on the market before that weekend and that was not an issue at all considering they already had photos and the home was ready! Mindy had been running the coming soon campaign and that weekend at the grand opening they had over 31 families at the open house, multiple offers and a very happy seller. Because of the marketing campaign and amazing photos and staging the home sold for $1,750,000, cash and a very short due diligence period as well as close quickly and have a post occupancy where they could remain in the home after closing. Their prior offer was $1,650,000 with a contingency to sell a home and a buyers agent commission. Because of the negotiations at the time they went to contract on the lake home they got everything they ever dreamed of and the other sides of both deals were super happy. It was truly a win-win on all levels. This story perfectly sums up the kind of advisor Mindy is, and the type of agent she continuously strives to be for her clients. Mindy was taught at a young age that if you want something in life, you have to work for it. So that’s what she did. And she worked hard. Mindy was raised in New Jersey with 6 total siblings. As a child, Mindy had aspirations of being a dental hygienist. Never in a million years did she think she would stumble into the real estate industry, but you can’t always predict where or when you’ll discover what you’re meant to do in life. As the years went by, Mindy worked her way from a contract to close supporter of her family, who was in the real estate business, to the team leader of Cintron Property Group, never wavering in her resolve to become the best version of herself with each

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career move. She has a heart of a teacher and loves teamwork since she played competitive sports all her life and throughout college and knows the importance of roles. Its really hard to do big things and be really great by yourself. So she decided to grow a team and hire people around her that are really great at what they do. To keep her in the area that she excels which is solving the problems and helping people. Mindy got into the real estate industry 20 years ago when she was in college and her mom needed help. She set out just to help a few people make some money while she was in college. She fell in LOVE. As her career advanced, Mindy found her stride working with people trying to sell their home and move on to the next phase of their life no matter what that would be. She said, it was like her favorite subject in school, Algebra, always finding the missing number. She loved a good challenge. She's an expert in preparing the home, pricing the home and negotiations to make every deal a win-win for all parties involved. Throughout her career, Mindy has earned numerous accolades, including: • Top Sales Agent • Best Customer Service • Centurion Award Winning Team and top agent for 6 years while with Century 21 early in her career • Numerous Outstanding Customer Service Awards both with Century 21 and Keller Williams • Agent Leadership Council Member with Keller Williams • Circle of Excellence Award Winner, multiple years • Certified Luxury Property Expert • VIP Relocation Specialist

• Certified Distressed Property Expert • Negotiating Skills Expert • Certified Divorce Real Estate Specialist

Mindy lives in Cumming, with her husband, 2 kids and dog Paisley. In her free time, she enjoys coaching and watching her kids excel in the sports world. She also enjoys taking a hike in the wonderful parks around, enjoys the lake and traveling. Mindy aims to provide the highest level of service to her clients and takes deep pride in helping them achieve their real estate goals.

Testimonials & Reviews for Mindy Cintron

Here is a list of people whom I have helped buy or sell a home, and what they said about working with me: Seller #1 In the one year experience with other agents, we had one so- called offer (it was a little iffy at that.) Mindy put a plan together and suddenly things were happening. We started getting offers, and the house is sold. We were really satisfied with the outcome. We had kind of figured out what our bottom line needed to be and were really excited that we came above our bottom line. We were out-of-town sellers. Our daughter lived in the home when she was going to school. When the prior agents couldn’t sell the house, it was hard for a year to make those mortgage payments with other kids in college. If you want your home sold quickly, you need to talk to Mindy. He has some great ideas on how to sell quickly. Seller #2 I’m a local real estate investor. I’ve been working with Mindy for several years. I can tell you that Mindy is the real deal and I have had good experiences with him. I’ve bought and sold a lot of houses and thought I knew how to do it. I had a good history of doing it. The problem was that the market changed and there were certain houses we just could not sell. Specifically, there was a house in the “boonies.” We had had it on the market for 8 months.

We had priced it below market. We weren’t getting viewings and we weren’t getting offers. Nothing was happening with it. Mindy had approached me for several months. Finally after enough pain and mortgage payments, I decided to give Mindy a shot. We had 68 showings very quickly and lots of offers. We ended up selling the house for the same price the other agent hadn’t been able to sell it for. I don’t think we would have sold the house without Mindy. Seller #3 My house was a short sale. This means that I owed more than the home was worth. The traditional real estate agent wasn’t able to help me. I’ve been a real estate agent, we tried other real estate agents, and it didn’t work. Having been an agent myself and invested in properties, I was very familiar with short sales and all the various ways of doing it. I got frustrated turning it over to some local real estate companies. I felt like I had to try and fill them in on the knowledge and process about short sales that they did not have. It was Mindy experience with short sales that got my property sold. You are simply not going to get your short sale taken care of using the traditional real estate methods. You need somebody like Mindy that really can combine all the angles and get the job done. I was an agent myself and had a property in the $400k+ price range that I couldn’t sell myself. Then, because of personal issues, I turned it over to another Real Estate Company in town. They could not get anything done with it. Having met Mindy a couple years before then, knowing that

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he knew all the things he knew about the real estate market, I decided to turn it over to him. He got it under contract very quickly. It actually was Mindy's buyer list that enabled him to sell it so fast. Mindy and his system got the home sold. Many people I know did not get the debt totally forgiven. However, we di and did not get a judgement for the remaining balance. It was a huge relief for us because the property had been a thorn in my side. Now that we have this property off of our backs, we can finally move on with our lives. Seller #4 After a year and a half of being listed with 2 other agents, Mindy sold my home in 65 Days and for 98.3% of the asking price. I had my home listed for over 18 months without a sale. It just seemed like high-end homes like ours weren’t moving. While the rest of the market seem to be flying. It seemed to be true for our home, too. But, because of Mindy's extensive online advertising and promotion, he found a buyer within 65 days who bought it for the same price I had been listed with the other agents. We used Mindy because we felt like she did more than any other agent. The other agents seemed to just throw the home on the Multiple Listing and then disappear. They conveniently forgot to call us after that. With Mindy, we were updated every week during the entire process. Mindy does more advertising and promotion of his listings than anyone else in Alpharetta. I had seen all of the ads and flyers from Mindy and thought she was underpricing homes. But what I thought turned out to be wrong.

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After a short and easy meeting with Mindy, we felt like she could sell our home. And she did. The results were proven 19 days later when she sold my home and got me my price. Seller #5 Please forgive me for taking so long to write this letter to you and your agency. As I’m sure you can understand, moving a household and a business is quite the task. The reason for this letter is to share with you mine and my wife’s experience with your agent, Mindy. About one year ago, my wife and I decided to pursue our dream of moving here. We purchased 10 acres of land back in 2010 and felt now was the time to make our move. We had subscribed to the local newspaper and had it mailed to us in Fort Lauderdale. We began calling agents from their ads regarding properties they had for sale as we pondered the idea of selling our acreage and buying something already built. The real estate agents we spoke to understood our situation and were told up front that we would not be doing anything for at least 6 months. The real estate agents would e-mail or mail us the info we requested, but that was the last we heard from them, at least until we called Mindy. I could tell Mindy was a go-getter from our telephone conversations. Then, she did the unthinkable... after e-mailing the info to us, she would follow up with a phone call. I must admit, we were really impressed with Mindy not only for her phone calls, but she never was rushing us, and seemed to understand that it would be some time until we actually purchased something. As time went on, she never called too often, but always stayed in touch and offered his services.

About 3 months later we decided it was time to meet Mindy and

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see some properties. She gladly lined up several properties for us to see and on a Sunday to boot. After spending the afternoon with Mindy and her team, we realized it was going to be best for us to build on our land. Agent helped us from start to finish in securing a builder and getting a deal done. Now came the sweet part. Since we were moving our home here, we now needed a place for our business. Well guess who was there for us? Because of simple little things like follow up phone calls, patience, and eagerness to help his customers, Mindy also has a team that her brother, Jim, runs in Fort Lauderdale. They were fantastic getting it sold for Top Dollar and we moved early and Mindy found me a month to month rental until our home was built. This team went above and beyond. Mindy was not the first agent we had talked to but she was the last. We were totally amazed at the professionalism, expertise, and kindness we received from such a young woman. Mindy will be our agent for as long as we need one and that does not happen often in this industry.”

CHAPTER 1 Introduction

The largest investment most people make is their home. That makes selling a home — whether it’s a single-family residence, duplex, or condominium — the single largest, most complex transaction a person will ever undertake. It involves new terms and concepts, financial acumen, and larger figures than normally dealt with. There are also many emotions at play that can affect good judgment. Many sellers think, Surely, my home where I raised my children and made so many memories is worth more than the bricks and mortar it contains. Real estate transactions involve dozens of decisions and substantial investment in homeowners’ time, energy, and money, and emotions almost always lead to problems in a sales price negotiation. The home seller’s objective is to find that home shopper who cannot resist buying your house at the highest price. To do this, you need to offer potential buyers a striking home sales presentation that outshines other homes on the market. It requires making a fantastic first impression, creating for the buyers an instant feeling that they are traveling up the front walkway of their new home for the first time, not visiting someone else’s. It’s about falling in love at first sight, from the curb, in those initial seconds. Most sellers do not venture alone into selling their home. They find it better to have an experienced real estate professional with whom they are comfortable. This book was written to provide some of that comfort without the direct sales stressors of person- to-person contact. 1

I want the prospective or active home seller to independently achieve a better understanding of the home-selling process. I’ve also provided actionable insight into how best to market your home, avoid critical mistakes, and maintain a proper focus. Let this book be your go-to resource for information, strategies, and techniques that can be put to work to sell your home quickly at the best price. Take time looking through the chapters and master the secrets of successful home sellers. For example, discover why comparable homes sell for considerably different prices. Be ready to sell by knowing your home’s market value, best listing price, negotiation tactics, and improvements that offer the best Return on Investment (ROI). My sincere hope is that this book will help you make the most of your time and efforts to sell your home. In Part 1, the process and importance of preparing your house for sale is examined: how to present to get top offers, the “80/20 rule,” along with which upgrades will make the most difference in ROI. Part 2 delves into marketing your home with a look at costly mistakes, avoiding those mistakes, and finding qualified buyers. In Part 3, we examine the critical topic of negotiations — what to expect, and how to conduct them — and finish with a look at what engaging a real estate professional brings to your real estate sale transaction. After you learn the process, requirements, and tips, you will see that an experienced, financially astute real estate professional can vastly cut the time and raise the economic value of your transaction. Reading this book is your first step to selling your home for the best price in the shortest time. After you read it, I stand by to assist you with an Equity Analysis and a solid marketing plan to

fit your budget and lifestyle.

CHAPTER 2 First Steps to Home Selling o Home Selling

Location! Location! Location! is the most crucial consideration in real estate and a major factor, if not the predominant one, in real estate pricing. Novice (and not-so-novice) home sellers alike must know the considerations that determine a home’s price. Setting the price at which to sell your home is not a simple formula, nor totally mathematical. Many elements factor into the decision. Throughout this book, you will read examples of similar and similarly situated houses that sold for very different prices, along with the reasons for the disparities. A calculated home value is not necessarily what you believe your home is worth. Recognizing this helps avoid overpricing, a major factor that leaves homes languishing or unsold. Familiarity with the real estate terms market value, appraisal value, and assessed value can save disappointment and frustration, and allow the home seller to meaningfully engage in setting a home’s listing price. The most used definition of market value is “the most probable price a property should bring in a competitive, open market, under conditions requisite to a fair sale.” Essentially, this is a pre- negotiation opinion of what a house should bring in its local market, i.e., its geographical area, generally an area such as a suburb or neighborhood. Appraisal value is an evaluation of a property’s worth at a given point in time that is performed by a professional appraiser. Appraised value is a crucial factor in loan underwriting and determines how much money may be borrowed and under what 5

terms. For example, the Loan to Value (LTV) ratio is based on the appraised value. Where LTV is greater than 80%, the lender generally will require the borrower to buy mortgage insurance. Assessed value is the amount local or state government has designated for specific property and frequently differs from market value or appraisal value. This assessed value is used as the basis of property tax and when a property tax is levied. The assessed value of real property is not necessarily equal to the property’s market value. Approximately 60% of U.S. properties are assessed higher than their current value.

WHAT IS YOUR HOME WORTH?

The first step in selling your home is knowing the difference between value, worth, and price. Let’s examine the determining factors at work. Understanding those factors allows them to be leveraged. There are several ways a home’s value is derived.

PROFESSIONAL APPRAISAL

Nothing determines the sale price of a piece of real estate but the price at which it sells. Houses are not same-priced identical cans of tuna on the grocery store shelf or shares of stock valued and traded every day on the stock exchange. Real estate appraisal (“property valuation”) is the process of developing a perspective of value for real property. This is the market value — i.e., what a willing, reasonable buyer would pay for the property to a willing, reasonable seller. Real estate transactions generally require assessments because they happen infrequently and every real property is unique in features and characteristics. An appraisal helps in various decision points. The seller can use the appraisal as a basis for pricing. The buyer can use it as a gauge

on which to base an offer. Lenders use appraisals to know how much money to credit to their borrowers.

The important factors in a house appraisal are:

• Dwelling type (e.g., one-story, two-story, split-level, factory-built) • Features (including design) — materials used and the kind of structure present and how they were built • Improvements made • Comparable sales • Location — type of neighborhood, zoning areas, proximity to other establishments • Age of property • Size • Depreciation Condition, of course, is a crucial factor in valuation. Location is also a factor; however, as property cannot change location, upgrades or improvements to a residential property often can enhance its value. A professional appraiser should be a qualified, disinterested specialist in real estate appraisals, with expertise in your region. His or her job is to determine an estimated value by inspecting the property, reviewing the initial purchase price, and weighing it against recent sales with the same purchase price.

COMPARATIVE MARKE TIVE MARKET ANALYSIS BY A REAL ESTATE PROFESSIONAL

This type of home valuation is free from real estate professionals and more helpful than automated online offerings. It provides detailed information on each house sold in your area over the

last six months, along with the final sale price. It also includes the specifics of all the houses for sale in your area, including the asking price. These homes are your competition. The real estate professional will also answer any questions and help you price your home realistically. Along with an understanding of how the worth of a home is determined, the current market must be considered. By utilizing a professional real estate agent, you can rely on proven expertise to market your home at the best listing price. I will be happy to provide you with a Comparative Market Analysis. Please refer to the last page of this book if you would like more information on how to request a free home valuation.

THE SECOND STEP (SELLING YOUR HOME FOR MORE)

Prior discussion showed that there is no calculable certainty in setting the value of a home. There can be wide differences between the seller’s assessed price, the asking or listing price (market value), and the price at which the home sells (sale price). Let’s turn to what the homeowner/seller can do to elicit offers at, or even above, the listing price in a competitive market. The seller’s time, effort, and investment are the most important parts of the process. The seller’s willingness to adequately prepare the home for presentation — and willingness to live in that pristine state for the time it takes to sell the property — will greatly affect both the sale period as well as the price at which the home sells. A market in which homes normally sell in no more than six months of listing is considered balanced or neutral, which means a good number of homeowners are selling and buyers are purchasing; therefore, neither has an upper hand. A variable, for

instance, like a major company entering — or moving from — the area will tip the scale toward homeowners to make a swift market or toward buyers to make a slow market. The typical selling time in a swift market might be 30 days, while that of a slow market may be up to nine months. Typically, any number below six months is considered a seller’s market.

LIVING IN A FISHBOWL

A house on the market requires keeping the home in a constant “show-ready” condition, and changes in day-to-day life are inherent in the process. Sellers get unexpected phone calls at all hours from unrepresented prospects and buyers’ agents to show the home, as well as frequent updates by phone, email, and text and show appointment scheduling messages from the listing agent. They also will likely deal with repair and reconditioning appointments and inspections. The house may be photographed for online, periodical, or brochure presentations. There are repeated showings when the home first hits the market. Keep your home in pristine showing condition for impromptu visitors — the perfect prospect might just drop in at dinnertime.

CHILDREN (AND PETS) SHOULD BE UNSEEN, UNHEARD

Children and pets are distractions for potential buyers, affecting their experience of your home. You should plan for your children to be elsewhere and your pets crated or leashed, and no toys lying about or dog hair on the sofa. The dishes should always be done and the kitchen sparkling. The pressure of showing to everyone even mildly interested in looking (not necessarily buying) may come from the idea that the more your home is seen, the more quickly and easily your home will sell. Many real estate agents provide their clients with

dozens of homes to consider without a clear picture of what the buyer wants. Low-interest traffic can be heavy and a burden on the seller’s time, energy, and resources. Since a showing can take an hour or even hours out of your day, finding an interested buyer is what matters most. The home will be shown to many more uninterested buyers than interested buyers. How many times will you have to show your home? In an ideal world, your property would be shown to serious buyers only. However, many “Sunday afternoon window shoppers” exist in the real estate business. That said, you shouldn’t waste your time trying to appeal to uninterested buyers. This is where planning, organizing, and the professional help of a qualified real estate agent enables you to handle even the most intimidating tasks without wasting efforts.

CHAPTER 3 Pareto's Principle

“Eighty percent of results will come from just twenty percent of the action.” This is the Pareto principle, attributed to Italian economist and philosopher Vilfredo Pareto, who, in 1906, observed an intriguing correlation. He began work on the “80/20 rule” with the observation that 20% of the pea plants in his garden generated 80% of the healthy pea pods. This observation caused him to explore more examples of uneven distribution. He discovered that 80% of the land in Italy was owned by just 20% of the population. He

investigated different industries and found that 80% of production typically came from just 20% of the companies. His findings led to the concept that 80% of results will come from 20% of the action. While it does not always come to be an exact 80/20 ratio, this imbalance is often seen in various business cases: • 20% of sales reps generate 80% of total sales • 20% of customers account for 80% of total profits • 20% of the most reported software bugs cause 80% of software crashes

• 20% of patients account for 80% of healthcare spending

RELATING THE 80/20 R G THE 80/20 RULE TO HOME SELLING

Understanding the 80/20 rule concept can save you time in selling your home. Applying the 80/20 rule, you stop trying to sell people on the entire home. Applying the rule, you can highlight the 20% of your home’s features that make it special. The remaining 80% of your home

still affects the buyer’s decision, so do not neglect it, but in photographs and showings, feature the elements that make your home special. Keep in mind, your selling point won’t be the common features your home shares with the other properties on the market. Instead, use your home’s unique features to grab the attention of buyers who are interested in those distinctive attributes.

BUYER’S STORY

When Vince and Sue were shopping for a new home, Vince wanted an ocean view. They looked at many desirable properties but didn’t find any that were right for them. Some were overpriced; others had obstructed views. The search went on for almost a year until they found an older home a short walk from the ocean. The neglected exterior and dated interior were not encouraging, but when Vince stepped onto the third-floor balcony off the master suite, he was sold. Any shortcomings in wall color or fixtures faded away when he took in the view. He could now see 12

the sunrise from his bedroom window every morning.

What 20% of the home caught the eyes of Vince and Sue? The magnificent third-floor view of the ocean!

SELLER’S STORY

When Cam and Kate listed their home, they needed a buyer who wasn’t concerned that the house was on an unpaved road. Though the home was over 10 years old, the interior was updated with fresh, neutral wall colors and carpeting to look brand new. The towering trees and established yard gave the home a welcoming appeal. The buyer had also looked at a home within miles of Cam and Kate’s that had towering trees, as well as a koi pond and patio. This home was comparable in interior and exterior, but it was on a busy street. What 20% of the home caught the buyer’s eye and prompted him to choose Cam and Kate’s home? The buyer loved the secluded country feel of the home. The 1.8-acre property was surrounded by pastures, with grand oaks dotting the landscape.

LOCATION MATTERS

A buyer paid extra for a townhouse because of its location in the complex overlooking woods instead of the parking area. Another seller took advantage of the fact that most of the surrounding homes didn’t have yards; only a few shared a half-acre grassy area. An owner whose townhouse bordered this yard area sold his home for a higher price than other townhouses in the complex because he had a characteristic shared by fewer than 10% of others — in fact, he had the only available listing offering that feature. He pointed to that feature in marketing the townhome. With this attractive point of difference, the house sold for a

higher price.

Another townhouse seller in the same complex found a different unique feature. Although she did not have a yard, she was still able to use location to her advantage. Her property backed up to a lake and fountain. This unique feature helped her to sell the townhouse quickly and for a better-than-average sales price.

THE 80/20 RULE IN ACTION: BUYERS ARE SEARCHING FOR UNIQUE FEATURES

Decide upon, improve, and spotlight the unique features of your home in marketing copy, photographs, and showings. Do not spend much time explaining how the storage room can be converted to another full bath; instead, lead the dog- owning prospect to the

fenced-off dog run in the unusually large backyard. If the home has a certain feature a buyer is specifically looking for, highlighting this aspect in marketing efforts will attract interested buyers willing to pay the asking price. Each house will have its unique features. Here are some suggestions if you aren’t sure of yours: • Hilltop views or high vantage point, offering a spectacular view of the surrounding area • Open fields frequented by wildlife • Unobstructed views of sunrise and sunset • Patios, decks, dog runs, garden areas, and gazebos — highlight items neighboring houses don’t have, or

differences in size or quality; that one vital feature could help you sell your home • Location can set a property apart, even in the same area, adding value to a home on a cul-de-sac or corner lot • A private location or lot partially concealed by trees • A unique, shady, or larger backyard; a fenced backyard is a big selling point (If your yard can be fenced but is not, consider making that improvement.) • Finished basement, large attic or garage, swimming pool, or anything else that makes your home stand out Following the 80/20 rule can lessen time showing to people who aren’t interested. Instead, you will be showing your home to buyers who are motivated to make a purchase. You won’t have to show as frequently. You also won’t have to sift through low-ball offers from casual shoppers. Keeping this in mind, you must take the time to uncover your home’s most attractive and unique features and improve them to their highest potential. Compare your house with others in the neighborhood to see what makes yours stand out. Work with that.

HOW THE 80/20 RULE APPLIES TO HOME SALES ME SALES

An out-of-town home shopper with no specific requirements contacted a real estate agent to look at available homes for sale. The agent drove him from house to house. In each case, the buyer suggested offers 10% to 20% below the asking price without budging. As the day progressed, the agent’s chances of finding a suitable home for the buyer were dwindling. They stopped at one last house as the sun set. The exterior of the house was dated and the yard untended. This agent and her client

had spent the entire day looking at houses that shared 80% of the same features. Nevertheless, once the buyer walked into this home, he wanted to offer the full asking price. What set this house apart from the others? He wasn’t too interested in the kitchen, bathrooms, and bedrooms. A bedroom was a bedroom, as far as he was concerned. He fell in love with the one remarkable feature of this otherwise uninspiring house. The house sat on a hill with a beautiful view out a large window. As they entered the great room, the sun was setting below the distant tree line. That view sold the buyer. The remaining parts of the home could be improved. The home buyer based his decision to buy on the window view from the hillside. The 20% of the home’s features motivated him to offer full price on the spot. Such is the power of the 80/20 rule. In some cases, the 80/20 rule may help people make a sale without even conducting a showing. The house in the following example had languished on the market for months. Unlike the previous home, this one was attractive. It was a brand-new, custom-built home, yet it sat on the market for over seven months without a single offer. The builder hired a real estate agent who knew the importance of finding that one special feature. He drove out to give the house a thorough investigation. He discovered what the property had that the competition did not. The house had a five-acre yard. Other houses being sold in the area had one- to two-acre lots. Not only was the yard bigger, it was also more private than the other properties. The real estate agent marketed the property by highlighting the five acres. Because the house was no longer the main selling point, interest in the property increased.

CHAPTER 4 Creating Curb Appeal b Appeal

Someone once said, “a stunning first impression is not the same thing as love at first sight. But surely it is an invitation to consider the matter.” This could not be truer than in selling a home. First impressions matter. Sometimes they are everything. Nothing sets the tone of a relationship or encourages a

transaction more than first impressions. So, always consider what a potential homebuyer may think as he or she drives up to your property for the very first time. Think of “curb appeal” as the home seller’s shop window. Like picking a lunch place on a busy avenue in a tourist spot, it’s either the outside presentation, or, as we saw in the 80/20 rule discussion, some particular feature that brings in the customers. For most lunch seekers, it is the way the place looks (“curb appeal”), and to others, the soups and sandwiches they serve (specific desired feature). You do not have a lot of time to establish a curb appeal relationship with a prospective homebuyer. Whether cruising the web to view online photos from across the country, or cruising by your home in the family SUV on a Sunday afternoon outing, home shoppers will decide at a glance whether they want to see more.

“We buy ugly houses” is a sign often seen nailed to electric poles. Rehabbers look for ugly houses so that they can pay the least amount possible; homebuyers looking for a deal — not a “basement bargain” — do not want an unattractive home. Creating curb appeal is essential to attracting interest in your home. How your home looks from the road is so persuasive that a well-prepared house may catch the attention of buyers who did not find the written description particularly compelling. Likewise, a neglected house can cause a buyer previously excited by the description to cruise right on by. Try this. Go out into your street and look — I mean really look — at your home, and see if you can spot any imperfections. Is it appealing, pristine, and well-kept, or are there necessary repairs that you have been putting off? After you’ve lived in a home for a long while, you’re not likely to examine it objectively. Listen to suggestions from real estate experts, your friends and/ or potential home buyers about how you can make your house show better. Then, take a drive around your neighborhood and surrounding area and see which homes for sale appeal to you and note why. Well-tended houses with trimmed bushes, groomed lawns, attractive landscaping, and a “grand entrance” (discussed shortly) will be more impressive than homes with an unkempt walkway, uncut grass, and a paint-peeling front door. The outside appearance of a property needs to be an invitation to come inside. Potential homebuyers are drawn to welcoming entries and uncluttered yards. They are unlikely to be attracted to a home with dead shrubbery and a weather-worn exterior. It is no stretch to think a buyer will believe the home is neglected on the inside as well.

Look at your home as a prospect would. Drive up to the curb

and take inventory of everything that needs attention. Low-cost investments like power washing the house and concrete, repainting trim, and adding landscaping give your house more curb appeal. Simple improvements like weeding, trimming, and window washing can improve the appearance of a home with little to no expense. Repairing and repainting your home can cost more money, but often those upgrades are reflected in the eventual sales price of your home. The goal here is to get more money for your home. Homebuyers generally aren’t interested in a home that needs work, unless you want to sell below market value. Look around your yard, and make a written list of everything that could be improved: • Shrubs trimmed, flower gardens tended, walkways tidy, and beds weeded • No trash, trash cans, lawn clippings, branches, or general mess in the yard • All outside fixtures and components (door and yard lights, garage door, porch rails); functioning properly and looking their best • Outdoor features, such as patio furniture or the deck, updated with staining or painting Make all major and minor improvements to update the exterior of your property. There might be a long list of things to do. It takes hard work to get a home ready to sell. Anyone can put a house on the market, but not everyone sells quickly or with great profits. Then, await the prospective buyers who will be drawn to the inside of your home when they see how beautiful it is from your curb! 19

CREATING A GRAND ENTR AND ENTRANCE

As I mentioned earlier, an important part of curb appeal is the home’s “grand entrance” — the portal to even the most modest house. You want to create a sense of a great place to come home to. Impressing the home shopper at the front door is a vital part of the home sale. This means more than putting out a welcome mat and potted plants. You want prospective buyers to feel welcome, safe, and secure when they open the door. The doorknob is the first point-of-touch on a home. Security is important to homebuyers. A flimsy lock or handle on the front door will make potential homebuyers uncomfortable, and they may not even know why. Replace a worn or loose entry handset. Consider replacing the door handle with a heavy-duty deadbolt and knob combination. This investment of less than $100 will make your home more visibly and practically secure, and everyone wants to be secure in their home. The front door is a focal point; make it impressive. Freshen it up and add a dash of color. Choose a paint that complements the color of your home. Replacing a wooden door with a steel entry door is worth the cost with a 91% ROI (Return on Investment).

SOME OTHER CONSIDERATIONS IN CREATING GREAT CURB AP T CURB APPEAL: EAL:

• Symmetry appeals to the eye and is easy to accomplish. Lopsided landscaping or unevenly trimmed bushes will detract from the curb appeal; the overall appearance of the home needs balance. • The mailbox should complement your home. If it is worn,

dated, or unsightly, replace it. This doesn’t cost much and is worthwhile. • Use outdoor lighting to add to landscaping appeal as well as a perceived safety feature. • Use flower boxes and raised flower beds to add instant color. This is an easy, inexpensive way to enhance curb appeal. • Spruce up the landscaping. Eliminating weeds and adding fresh mulch can really make a difference and shows homeowner care and maintenance. • Consider enhancing architectural appeal by adding molding to the tops and sides of the doorway or around windows. • Keep shutters and trim in excellent shape. Repainting them adds to the attractiveness. Fence gates, arbors, and fencing panels should be clean and fresh. • Clean downspouts and gutters. Repaint or touch up to eliminate rust spots. • Ensure the walkway to the front door is clear and approachable. Stacked hoses and unruly landscaping interfere with home shoppers walking up and diminish the inviting look. • Try a fresh coat of exterior paint; faded or chipping paint, siding, or trim will always detract from curb appeal. If exterior paint is good, ensure door and window trim are, too. This simple upgrade is well worth the cost. • Power washing the house, walkways, and driveway can be almost as effective as repainting, at a much lower cost. Power washers are easily rented from hardware stores. • Adding some stone or stone veneer to the face of the home is an inexpensive way to instantly update your

home, if it complements the design. • Add a “smart” doorbell. Eight of 10 home doorbells are outdated or not working, so if you invest $200 in a doorbell equipped with a camera and speaker, you will gain the approval of home shoppers who are looking for security measures. Curb appeal is one of the most essential elements in selling your home quickly and successfully. You can create interest in your home before buyers even step out of the car, even if they didn’t think they were looking for a home like yours. If you put money into cleaning up the outside of your home, buyers will be far more likely to want to see the inside. Your home’s curb appeal draws buyers in, maintains their interest, and sets your home apart from the competition. Remember that unless you are willing to lower your home’s price well below market value, prospective homebuyers typically won’t want to take on a major renovation project.

CHAPTER 5 Staging with Purpose

Staging is the act of sprucing up and setting up a home's interior to make it as visually appealing as possible to a prospective buyer. Creating an appealing home — one that potential buyers can envision themselves living in — is the best investment in the sales effort. Sellers often fail to take full advantage in this regard, as it takes considerable time and work. However, the payoff is proven. Staging is considered one of the most effective marketing strategies to increase the value of your home.

This strategy is effective in any market, in any type of home

property being listed. It applies equally to single-family houses, apartments, townhouses, and condos. This approach works! Agents and sellers using this tactic have a greater chance of selling the property for more money.

Staging the home will:

• Distinguish it from the competition • Attract top dollar from homebuyers • Provide a visual edge over the competition

STAGED VS. NON-STAGED CASE STUDY & REPORT

Dear Reader,

I wanted to give you the most convincing proof possible. Many people find it hard to believe that the simple act of staging helps one home sell for more than another, similar home. In my research, I looked for examples of similar houses being sold for differing amounts of money, where only one of the two houses was staged. The clearest example I could find was in the case of these two listings.

This development has 200 equivalent townhouses.

Every single townhome in the neighborhood is three stories, with three bedrooms and three bathrooms. Every unit has the same floor plan.

I looked for two sales there, and found these:

• Townhome A sold on August 26. • Townhome B (5 doors down) sold on July 26, for 40,000 dollars less. I visited this neighborhood, and I am familiar with these properties. You could not find a better example of two identical properties that sold for different prices. The lots the units sit on are identical, as far as the desirableness of the location. Both units had the same kitchen plan, with the same cabinets and a tile floor. Both units had nice hardwood floors in the living room and carpeted bedrooms. Every important detail of these townhouses was identical. I studied every aspect of these sales to find what made the difference. There are two reasons one home sold for $40,000 more than the other: • Townhome A was professionally staged, giving it a more appealing appearance. • The agent selling Townhome A took higher quality, more attractive photos of the home. Those two seemingly small actions made the $40,000 difference! The buyers of Townhome A made a higher offer because the

agent presented the home in a more appealing and attractive way.

THE POWER OF STAGING WHEN SELLING A HOME

Consider these results from surveys conducted by Coldwell Banker and the National Association of Realtors®: • Staged homes spent 50% less time on the market than homes that were not staged. • Staged homes sold for more than 6% above asking price. • A staging investment of 1% to 3% of asking price generates an ROI of between 8% and 10%. • Homes staged prior to listing sold 79% faster than homes staged after listing.

WHAT DO BUYERS WANT TO SEE?

Most home shoppers are envisioning a fresh start. If they can picture themselves living in the home, the home will be easier to sell. This is known as “interior curb appeal,” where the eyes are drawn to inviting spaces and light, as well as to unique features. Each room needs a purpose or suggested use. The home must feel new to reflect ease of upkeep. The goal is to create a clean, simple, and contemporary feel. Painting, updating fixtures, and eliminating stained carpets and popcorn ceilings can affect the saleability of the home by 75%!

NEUTRALIZE FOR VISUAL APPEAL

The idea is to neutralize the home regarding personal taste or decoration, so buyers can easily envision the home as it would be outfitted in their taste or with their possessions without the distractions of the seller’s taste and possessions. In staging, distractions are removed so the home shopper can imagine living

in each space of the house.

An effective way to achieve this is to paint all rooms in a neutral color. A wide range of neutrals is available, from soft grays to warm beiges. Painting the interior gives newness and freshness and can make the home appear more spacious. Using the same color in visibly adjacent rooms gives the house a seamless look and uninterrupted flow. Changing your window coverings to match the walls can also create an illusion of more space. Dark or bold wall colors can dampen interest in a home if used in large spaces; however, they can occasionally be used effectively as accent colors.

FOCUS ON FURNITURE: LESS IS MORE

In staging, a visibly inviting space is created so that the home shopper can envision or imagine life in that space. Minimization is the key. If the seller’s personal taste and style are showcased while the home is on the market, it may be a sale distraction. Preparing for moving is part and parcel of selling a home; it might as well be done at this stage of the process, to enhance the property’s saleability. Shortly, we will examine depersonalizing the home, a key step. First, however, we must examine the concept of creating space by minimizing furniture. Buyers are attracted to homes flooded with light and roominess. They are equally put off by cramped homes filled with unnavigable spaces. Home shoppers want to walk through a house without obstacles in the way. Space and storage are high on the list of buyers’ desires, so every area of the home should feel spacious. Remove all unnecessary furniture from living spaces. Store it while the home is marketed. Closets, pantries, and storage rooms must be free of clutter and look organized. Pruning back unnecessary items can create interest by showcasing space and

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