Etta Carter - SMART AND EFFECTIVE STRATEGIES TO SELLING YOUR HOME

SMART AND EFFECTIVE STRATEGIES TO SELLING YOUR HOME

SMART AND EFFECTIVE STRATEGIES TO SELLING O SELLING YOUR HOME

Etta Carter

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. Do's and Don'ts of Negotiating

14. Bargaining Chips

15. Why Hire an Agent?

Foreword: Unlocking Success in Your Home Selling Journey

Welcome to "Smart and Effective Strategies to Selling Your Home." As a seasoned real estate professional, my journey in this industry began with a mission to spare sellers like you from the common headaches associated with the home-selling process. Over the years, not only have I successfully eased the stress for my clients, but I've also accumulated a wealth of knowledge on how to optimize the selling experience for both parties involved. This book is my way of sharing that expertise with you. My ultimate goal is to empower you with the tools to achieve a win- win scenario: securing the highest possible value for your home, selling it in the least amount of time, and minimizing the typical challenges associated with selling a property. Consider this book a gift, filled with insider insights and advice tailored to help you reach your real estate aspirations. Inside, you'll discover secret strategies to maximize your home's value, learn about cutting-edge marketing techniques employed by top agents, receive guidance on appealing to today's discerning buyers, and much more. Should you find the strategies outlined here valuable and decide you'd like professional guidance, I would be delighted to meet with you to craft a tailored plan for selling your home. Your success is my priority, and I invite you to enjoy this book as a stepping stone toward achieving your real estate goals. Here's to a smooth, lucrative, and stress-free home-selling journey. Enjoy the read!

About Etta Etta's journey began in a small Texas town, though much of her childhood was spent in California. With a retired Marine father and a mother in the medical field, she grew up witnessing the values of hard work, integrity, and perseverance—qualities that define her approach to life and work today. Etta's great aunt, Ettalene Wilson—an inspiring educator and accomplished pianist—was a guiding influence, instilling in Etta the importance of higher education and the power of focus, determination, and hard work. Following this advice, Etta earned a Bachelor of Arts degree and a Master of Business Administration, laying the foundation for a career marked by excellence, service, and the drive to empower others. Etta has a long-standing commitment to fostering diversity, equity, and inclusion, a dedication that has shaped her professional journey. During her tenure with Novartis Pharmaceuticals, she served as the Diversity and Inclusion Representative for her district and was an active member of the Diversity and Inclusion Council, where she collaborated on initiatives to promote inclusive workplace practices. This passion continues in her real estate career, where she is an active member of the Diversity Committee at the Real Estate Association of Sarasota and Manatee Counties (RASM). As the Vice Chair of Diversity at RASM, Etta plays a pivotal role in driving initiatives that embrace cultural awareness, equity, and inclusion within the real estate community. Her leadership in these roles reflects her unwavering belief in creating spaces where every individual feels valued and empowered. After excelling for 25 years in the pharmaceutical industry, Etta found her true passion in real estate, where she helps clients

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navigate the complexities of buying and selling properties. Since earning her Florida State Real Estate License in 2013, she has specialized in assisting clients in Southwest Florida. Her expertise extends to handling complex transactions, including the sale of inherited properties, always with innovative strategies and a compassionate touch. Etta's extensive experience, combined with her strong work ethic and deep market knowledge, consistently delivers exceptional results. She is trusted by sellers, first-time buyers, investors, and families seeking guidance during emotionally significant transactions. Recognized as a Marquis Who's Who select professional in 2023, her achievements highlight her unwavering commitment to excellence in real estate.

Etta holds several prestigious designations, including:

- Sales Representative Specialist (SRS) - Certified Global Luxury Professional - Accredited Buyer’s Representative (ABR)

Her accolades also include being a Rising Star for 2022, 2023, and 2025, receiving the President’s Club Award, and earning Circle of Excellence recognition. Based in Lakewood Ranch, Florida, Etta cherishes quality time with family spread across multiple states. When she’s not serving her clients, she enjoys writing, tennis, dancing, and dining with friends, bringing the same energy, passion, and enthusiasm to every facet of her life.

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CHAPTER 1 Introduction

The largest investment most people make is their home. That makes selling a home — whether it’s a single-family residence, townhouse, villa, 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 homeowners think s urely, my home where I raised my children and made so many memories and upgrades 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. Emotions almost always lead to problems in a sales price negotiation. And when emotions run high it over takes logic. The seller’s objective is to find that buyer who cannot resist buying their 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 and 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. 2

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 hope is that this book will help you make the most of your time and efforts to sell your home.

Part 1: Preparing Your Home for Sale

A well-prepared home captures the attention of buyers and commands top offers. This section covers the process of getting your property market-ready, emphasizing the importance of presentation. Learn how to declutter, stage, and showcase your home’s best features to make an unforgettable first impression. The “80/20 Rule” — focusing on the 20% of upgrades that bring 80% of the value — is your guide to smart investments. From fresh paint to minor kitchen upgrades, discover how targeted improvements yield the highest return on investment (ROI) without overspending.

Part 2: Marketing Your Home Effectively

Marketing is the bridge between your home and potential

buyers. This section examines common pitfalls, like overpricing or using low-quality photos, and offers strategies to avoid costly mistakes. You'll gain insights into creating compelling listings, leveraging digital tools, and connecting with qualified buyers who are ready to make serious offers. Effective marketing goes beyond exposure — it’s about making your property stand out in a competitive market.

Part 3: Mastering Negotiations

Negotiations can make or break a deal. This part prepares you for what to expect during the process, from initial offers to final counteroffers. Learn proven techniques for navigating discussions with buyers and their agents to achieve the best possible terms. The chapter concludes with a powerful argument for enlisting a real estate professional. Their expertise in marketing, pricing, and negotiations can significantly enhance the outcome of your sale, ensuring every detail is handled with precision. 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 a Comparative Market Analysis (CMA) and a solid marketing plan to fit your budget and lifestyle.

CHAPTER 2 First Steps to Home Selling o Home Selling

When it comes to real estate, the adage "Location, Location, Location!" holds significant weight, often being the primary factor influencing a home’s price. However, pricing a home involves much more than its location—it requires a thoughtful analysis of several key elements. Both novice and experienced home sellers need to understand the considerations that determine a home's value. A home’s price is not derived from a simple formula. It reflects a mix of market conditions, property characteristics, and buyer perceptions.

Setting the Right Price

Determining the right price for your home is part art, part science. While it may be tempting to price your home based on personal sentiment, this approach can lead to overpricing—a common mistake that often results in homes lingering on the market, even in a seller’s market. Understanding three key terms—market value, appraisal value, and assessed value—can provide clarity and prevent frustration: • Market Value: This is the most likely price a property will fetch in a competitive and open market under fair sale conditions. It represents a pre-negotiation estimate based on local market trends and conditions. • Appraisal Value: Determined by a licensed appraiser, this value reflects the property’s worth at a specific point in

time. Appraisals are crucial for lenders, as they determine the loan-to-value ratio (LTV) and may influence whether mortgage insurance is required. • Assessed Value: This is the value assigned by local or state governments for property tax purposes. It often differs from both market and appraisal values, with approximately 60% of U.S. properties assessed higher than their actual market value. By familiarizing yourself with these terms, you’ll be better equipped to set a realistic and competitive listing price.

Determining Your Home’s Value

The first step in selling your home is understanding the distinction between value, worth, and price. Several methods can help determine your home’s value:

1. Professional Appraisal

Real estate is not like stocks or grocery items with standard pricing. Every property is unique, and professional appraisals play a vital role in determining a home's value. An appraiser evaluates various factors, such as:

• Dwelling type (e.g., one-story, two-story) • Design and materials used • Recent improvements • Comparable sales in the area • Location and neighborhood characteristics • Age and condition of the property • Size and depreciation

A qualified appraiser provides an unbiased assessment that serves 7

as a foundation for pricing, offering, and financing decisions.

2. Comparative Market Analysis (CMA) s (CMA)

A Comparative Market Analysis, provided by a real estate professional, is another valuable tool. Unlike automated online estimates, a CMA offers a detailed comparison of recently sold homes and active listings in your area. This report highlights your competition and provides insights into the current market. Relying on a real estate professional ensures your home is priced competitively to attract serious buyers. If you’d like a free home valuation, details on how to request one are provided at the end of this book.

Preparing Your Home for Sale

Pricing is only part of the equation; preparation is equally vital. How you present your home can significantly impact its final sale price.

Living in a "Show-Ready" State

Once your home is on the market, it must remain in pristine condition. Potential buyers can request showings with little notice, and your listing agent may frequently reach out with updates, schedule appointments, or request additional photos for marketing materials. Here’s how to maintain a buyer-friendly environment: • Declutter and Clean: Keep every room tidy, with no dishes in the sink or toys on the floor. • Minimize Distractions: Arrange for children and pets to be out of the house during showings, and ensure no pet hair or odors are present.

• Stage Thoughtfully: Highlight your home’s best features with tasteful furniture placement and neutral decor.

Managing Showings

While it’s tempting to accommodate every showing request, remember that quality matters more than quantity. Low-interest traffic can drain your time and energy without yielding serious offers. Your agent can help pre-qualify buyers to ensure only genuinely interested prospects view your home.

Selling in Different Market Conditions

The time it takes to sell a home can vary based on market conditions. A balanced market typically sees homes sell within six months. However, factors like a major company relocating to or from the area can shift the market in favor of buyers or sellers. • Seller’s Market: Homes may sell in as little as 30 days, often above the asking price. • Buyer’s Market: Homes may take nine months or longer to sell, requiring strategic pricing and additional preparation. Regardless of market conditions, your willingness to invest time, effort, and resources into preparing your home can greatly influence its sale price.

The Next Step: Selling for More

Once your home is priced and prepared, the focus shifts to maximizing its appeal to buyers. The right presentation, coupled with effective marketing and negotiation strategies, can help you secure offers at or above your asking price.

Selling your home is a multifaceted process, but with proper planning, professional guidance, and a commitment to excellence, you can achieve the best possible outcome.

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 Lance and Sheila were shopping for a new home, Lance 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 Lance 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 13

the sunrise from his bedroom window every morning.

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

SELLER’S STORY

When Calvin and Rita 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 Calvin and Rita’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 Calvin and Rita’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: • Lake, pond or preserves, 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.) • Florida room, bonus room, study/den, 3-car 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 shop window of your home — it’s the first impression buyers get, much like how a tourist chooses a lunch spot based on its exterior. Whether it’s the neat presentation or a standout feature, curb appeal can be the deciding factor for potential buyers. In today’s fast-paced market, you have mere seconds to make an impression. Whether a buyer is browsing photos online or driving by in their SUV, they’ll decide at a glance if they want to see more.

The Importance of Curb Appeal

Consider this: while rehabbers might chase “ugly houses” for bargains, most homebuyers are looking for a property they can 18

fall in love with — not a project. A neglected exterior can repel a buyer who was otherwise interested in your home. On the other hand, a well-maintained exterior can capture attention, even if the written description doesn’t initially stand out. To evaluate your home’s curb appeal, step into the street and take an honest look. Is your home inviting, clean, and well- maintained? Or are there repairs you’ve overlooked? Over time, it’s easy to become blind to imperfections, so be open to feedback from real estate professionals, friends, or potential buyers about improvements. Next, take a drive around your neighborhood. Which homes catch your eye, and why? You’ll likely find yourself drawn to houses with manicured lawns, fresh landscaping, and welcoming entrances. A well-prepared exterior can make all the difference.

Steps to Enhance Curb Appeal

Your home’s exterior should invite buyers inside, not deter them. Dead plants, peeling paint, or an unkempt yard suggest neglect and can make buyers question what’s inside. Here’s how to elevate your home’s appearance: 1. Conduct an Objective Assessment Look at your home as a buyer would. Drive up to the curb and take note of areas needing attention. From small fixes to larger updates, every improvement can make a difference. 2. Invest in Low-Cost ImprovementsPower wash the house, sidewalks, and driveway. Repaint trim, shutters, or even the entire house if necessary. Weed flower beds, trim bushes, and mow the lawn. 3. Prioritize Repairs

Buyers are often unwilling to pay top dollar for a home that requires work. Address minor and major repairs to avoid deterring interest. 4. Create a List of Updates Make a checklist of tasks to ensure no detail is overlooked:Trim shrubs and tidy flower beds. Remove yard debris, trash cans, and clutter. Update or repair outdoor fixtures like lights and door handles. Refresh outdoor furniture or repaint decks.

Creating a Grand Entrance

Your front door is the centerpiece of your home’s exterior. It’s the gateway to a buyer’s first impression, so make it count. • Upgrade the Door: A new coat of paint or even replacing the door can work wonders. Opt for a bold yet complementary color to make it stand out. A steel entry door is a valuable investment with an impressive return on investment (91%). • Update Hardware: Replace worn or outdated doorknobs with a heavy-duty deadbolt and knob combination. This not only adds visual appeal but also conveys a sense of security. • Add Welcoming Touches: Potted plants, a clean welcome mat, and good lighting can create an inviting atmosphere. Additional Tips for Curb Appeal Here are some other ways to enhance your home’s exterior and make it stand out: • Focus on Symmetry: Balanced landscaping, such as evenly trimmed bushes or matching planters, creates visual harmony.

• Upgrade the Mailbox: A fresh, modern mailbox adds a polished touch. • Incorporate Lighting: Outdoor lighting not only boosts curb appeal but also adds perceived safety. • Refresh Landscaping: Weed flower beds, add fresh mulch, and plant seasonal flowers for an instant lift. • Repair and Clean Fixtures: Ensure shutters, gutters, fences, and railings are clean and well-maintained. • Power Wash and Paint: A simple power wash can rejuvenate siding, walkways, and driveways, while a fresh coat of paint can do wonders for faded trim or exterior walls. • Add Modern Features: Consider installing a smart doorbell with a camera for added security and tech-savvy appeal. Why Curb Appeal Matters Curb appeal is a powerful tool in selling your home quickly and at a competitive price. By investing in your home’s exterior, you’re creating interest before buyers even step inside. A beautiful exterior signals that the home is well cared for, inviting buyers to explore further. Unless you’re prepared to significantly lower your asking price, don’t give buyers the impression that your home needs extensive work. With a bit of effort, you can transform your home’s exterior into a buyer magnet, setting it apart from the competition and paving the way for a successful sale. 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 21

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!

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 22

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 evenstep 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. • Eighty-two percent of buyers' agents said staging helped their clients visualize the property as their home, according to the National Association of REALTORS® 2021 Profile of Home Staging.

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

Commit to removing or minimizing the negatives and accentuate the positives of your home to make a great first impression. Start by decluttering and depersonalizing your home. 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 29

color to brighten the space. 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. Remove all dated window treatments. 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 storage in areas such as closets, attics or basements. Furniture placement is an easy way to highlight unique house features. A grouping of chairs in front of a fireplace will draw attention to it. Avoid pushing furniture close to the walls. Reposition easy chairs into floating group spaces. Every room must be staged to show function. An empty room used for overflow of boxes, possessions, or unwanted items should be transformed into a usable, desirable space. Clean it out and create an office space with a desk and chair, or a reading room with a lamp and recliner. Exercise equipment might be arranged to feature it as a workout room. Every room should have a purpose and be user-friendly. Make your home’s traffic flow smoothly, so buyers can browse each room without effort.

EMOTIONAL CUES AL CUES

Once every room has a purpose, creating atmosphere is crucial to make the home desirable. Decorative touches of greenery, flowers, and coffee table books give life to a room. Creatively hung wall art can do the same. A bedroom that has one bed with one pillow and blanket may make the room seem bare and lonely. By adding a table with a lamp and a rocking chair draped with a lap robe, you heighten its appeal. Be sure to add elements of the same color, shape, or texture to unify the room. Any splashes of color should appear in wall art or any place you want to draw attention. Learn to strike a balance between staging and living in your home. You can even seasonally decorate your home without dashing its appeal. The main goal is to keep your home clean and free of clutter that distracts would-be buyers. Even simple things can make a big impact on the final sale price of a home.

You have two options for staging a home: do it yourself, or hire a professional home stager. As a Realtor® with Coldwell Banker Realty, we also ofter staging through a program we are affiliated with call RealVitalize®. This is a program that allows you make the needed improvements and repairs to prep your home for sale. RealVitalize® pay the up-front cost, and you don't pay them back until closing, with no hidden fees, charges or markups. If you are considering hiring someone, we can discuss this program in detail.

TO STAY OR NOT TO STAY?

Home sellers often ask whether they should stay in their home while it is on the market, or move out. There are pros and cons to both and factors that can tip the scale to one side.

Pros of Moving Out

If the seller has engaged a real estate agent, the burden of showing a vacant home is virtually eliminated. The agent will field all calls, set appointments, and show the home. Buyers’ real estate agents are also more likely to want to show vacant homes. If agents have 20 home options and 15 are occupied, they may well show the vacant homes out of convenience. In many situations, they don’t have to call and make an appointment but can simply go over and use the lockbox. Further, the continual pressure to keep daily life from affecting the home’s pristine staging presentation is eliminated. The seller is not under constant pressure to keep the home in immaculate showing condition. If you’re someone who might struggle to keep your home in turnkey condition for showing purposes — for example, if you have young children — consider vacating before putting the home on the market.

Please note; however, it is not necessary! You will still get your home sold. And if staged, you are more likely to sell it for more money than you would if it's not staged.

Cons of Moving Out

A vacant home can signal that the homeowner is a “motivated seller” who needs to sell quickly. Consider this example found on an online real estate forum. A buyer saw that a home was vacant and offered $30,000 less than the asking price. The buyer was sold on the home anyway and would have paid more, but “haggling” began well below asking price because the buyer assumed the owner was desperate to sell.

CHAPTER 6 Upgrading with ROI in Mind OI in Mind

Making upgrades can be as easy as replacing the handset on your front door and freshening up the paint job, or as daunting as remodeling an entire kitchen or master bath. The question always is, what home improvements give the best

return on the remodeling dollar?

Return on Investment (ROI) is generally less than 100% in real estate, so the rule of thumb is “less is more.” It is frequently advised in this area that it’s better to update/remodel your home while living in it and not solely at the time it comes to sell. That way, there is more enjoyment in the improvement and less cost and time in preparing for sale. Some desirable upgrades or home improvements will not return their cost in the sale price, so it’s better for the owners to enjoy them all along. If your home is worth $275,000, and you spend $25,000 to revamp the kitchen, don’t make the mistake of assuming that the investment will increase the value, dollar for dollar. The remodel may add value to the home, but the return in dollars spent will be around 50%. Smaller upgrades, like replacing outdated fixtures in the kitchen and bath, are certainly worthwhile, but major remodeling of those rooms isn’t wise, just to sell your home. That’s not to say you can ignore necessary repairs that a home inspector would red-flag or mortgage company would demand 34

before issuing a loan to a buyer. If major problems, like a leaking roof or outdated electrical wiring, exist, you may want to repair those before putting your home on the market, or expect to give concessions to the buyer.

STARTING WITH THE B G WITH THE BASICS

Every listed home should meet the basic expectations of any buyer. It should have a sound roof, functioning gutters and downspouts, foundation without cracks, functioning heating and/or air-conditioning system, solid subflooring, and safe and secure electrical wiring. With finance-mandated home inspections, any shortcomings may be required to be remedied to get buyer financing approval. It is important to understand that the market value of a home is determined by the prices of comparable homes recently sold in the area. Extensive remodeling to sell the home or to increase the value may not pay off. The property needs to be up to the standards of neighboring homes, so while the kitchen has to be comparable to others, spending $25,000 to remodel a kitchen in an area where comparable homes recently sold for $275,000 will not increase the house’s value to $300,000. While it may be a helpful selling feature, it won’t return dollar-for-dollar value.

MECHANICAL MAINTEN CAL MAINTENANCE IS A MUS CE IS A MUST

It is easy to get wrapped up in the more eye-pleasing aspects of preparing a home to sell. However, the upkeep of all the more mundane aspects of the home cannot be overlooked.

These mechanical features require consideration:

• Electrical boxes and wiring • Natural gas lines

• Plumbing • Central heating and air-conditioning

If these components are old, outdated, or not working correctly, the home’s appeal is lowered, as is the eventual sale price. According to the National Association of Realtors®, 65% of homebuyers surveyed wanted to be sure their new home had a working central air system. Of the 31 mechanical features inquired about in the survey, this was the most important. People want to purchase a home that reflects their aesthetic tastes and lifestyles, but also one that is safe and sound. Faulty electrical systems do not provide a feeling of safety. Leaky plumbing arouses concerns of mold infestation and sewage problems. These areas can require extensive work and they are extremely important. Overlook them in the preparation stage, and you run the risk of trouble later with inspections and appraisals. It aids the sale if professionals certify or remediate any deficiencies in the mechanical systems. Having a professional inspection for buyers to review is a big plus in marketing. • Have a certified plumber inspect the entire water system for leaks. Check the well and septic field, if applicable. • Hire an electrician to check the wiring. • Call an HVAC company and have technicians perform a thorough service checkup. • Contact the natural gas supplier and have them double- check the mechanics of your tank and lines. If you’re looking for an alternative to calling and arranging all the different inspections, certified home inspectors usually cover all items related to mechanical issues (and more). They will be able to identify possible trouble spots. Many buyers hire an inspector, 36

so you may be saving them a major step in the sale process.

If you have mechanical issues and decide to sell your home “as is,” it may be necessary to negotiate with the buyer.

REPLACING APPLIANCES

New appliances undoubtedly make an impact on buyers. The National Association of Realtors® conducted a survey of buyers and found that:

• Buyers were usually “interested” or “somewhat interested” in buying a home that featured new appliances.

• Roughly 17% of respondents preferred stainless steel. • The most important factor: that appliances were available in the home. • Most buyers who were unable to get their sought-after appliances said they would have been willing to pay, on average, nearly $2,000 more for them. Potential buyers want appliances included and will pay more for them, especially if they are new or in excellent condition. New appliances might be what sets a house apart from the home for sale across the street. If new appliances are out of reach, offer immaculately clean and fully functioning existing ones.

UPDATING HARDWARE

Carefully inspect your bathroom and kitchen hardware. If it is unsightly or worn, it’s best to replace it. Put yourself in a buyer’s shoes. Your home will potentially be their new home. Old, worn- out fixtures are not going to speak to them the way nice, new shiny hardware will. 37

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