Nadine Hiser - SELLING SECRETS YOU CAN’T AFFORD TO MISS

SELLING SECRETS YOU CAN’T AFFORD TO MISS

Nadine Hiser

All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law. DISCLAIMER AND/OR LEGAL NOTICES: While all attempts have been made to verify information provided in this publication, neither the Author nor the Publisher assumes any responsibility for errors, inaccuracies, or omissions. Any slights of people or organizations are unintentional. This publication is not intended for use as a source of legal or accounting advice. The Publisher wants to stress that the information contained herein may be subject to varying state and/ or local laws or regulations. The reader of this publication assumes responsibility for the use of these materials and information. Adherence to all applicable laws and regulations, including advertising and all other aspects of doing business in the United States or any other jurisdiction is the sole responsibility of the reader. The Author and publisher assume no responsibility or liability whatsoever on behalf of any reader of these materials. If your property is currently listed with a Realtor, please disregard this notice. It is not our intention to solicit the offerings of other brokers. Printed in the United States of America

Table Of Contents

Introduction

First Steps To Home Selling

Pareto's Principle

Staging With Purpose

Upgrading With ROI In Mind

The Three D's

How To Market Your Home

Common Seller Mistakes

Learn From Other's Mistakes

10. Finding Buyers

11. Be A Power Negotiator

12. The Dos And Don'ts Of Negotiating

13. Bargaining Chips

14. Why Hire An Agent?

Introduction

Hi there! It’s nice to meet you. If you’ve received this book, it’s probably because you’re thinking about selling your home. And if you’re like most Sellers, you may be dreading the entire process.

But that’s why I’m here! My job is to make your job as a Seller as easy and seamless as possible. Throughout my years of experience in the real estate industry, I’ve amassed insider knowledge to help home sellers get the most money out of their homes in the least amount of time. And now, you’ve got all of that information at your fingertips. If you’ve ever wondered how a friend with a seemingly average house in a seemingly average neighborhood managed to sell his home way above market value, the answer isn’t luck. That person likely was working with a great real estate professional.

In this book, you’ll find:

· An overview of the sales process · Secret strategies to sell your property for more money · Common mistakes to avoid · Marketing techniques employed by top agents · Advice on how to appeal to today’s buyers · Tips for upgrading with the greatest return on investment · A negotiation guide to get you the best offer possible · And much, much more

As licensed real estate professionals we advise and counsel you through the entire process. We nurture the transaction with vigor and diligence. Our goal is to make the selling experience as

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profitable and as seamless as possible for you, as we guide you through life's transitions. We look forward to being the key to your dreams.

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About the Broker

Nadine was born and raised in Berkshire County, MA and currently lives in Windsor, MA with her husband Peter Hiser, and her black Labrador Retriever, Mr. Sirius Black. Nadine and Peter have been partners and allies for 37 years and married for 32 years. They have two adult children - Shelby Hiser of Pittsfield, MA and Jeffrey Hiser, of Springfield, MA. While Nadine enjoys gardening, architecture, travel, nature, and game-nights, her priority has always been her family. The highlight of any given week is spending time with her children, her parents, or her in-laws. After all, family - hers, yours, and ours, is the motivation for all that she does. Nadine Hiser began her career in the real estate industry as an investor in 1987. In March of 2002, she began her real estate sales career as an associate of a large firm in MA, (Re/Max Integrity Realtors). She performed as a top producer while with Re/Max, and in the 2 short years as an associate she was recognized as a "Presidents Club Award’s Member" in 2003 & 2004. In April of 2005, having earned her MA real estate Broker’s license, she founded "Berkshire Key Realty LLC". Nadine is multi-facetted and holds a B.S. in Business Administration and Marketing, as well as MA Educator Licensure in Secondary Education for Business Management & Technology Careers. She also holds a minor certificate in Early Childhood Education. Perhaps this is why you will feel nurtured and educated every step of the way. Nadine guides, counsels, and advocates for her clients through life’s transitions; and this is the very core of her success. You can rely on her experience and dedication; she will be the KEY to your dreams.

Testimonials & Reviews

Highly likely to recommend|5.0 11/09/2020 - Jen Mason Bought and sold a Single Family home in 2020 in Worthington, MA. Local knowledge, Process expertise, Responsiveness Negotiation skills. = 5.0 Nadine and the Key Realty team worked tirelessly helping us sell our house and buy our new one. We were in contact constantly throughout the process and Nadine was always responsive and put us at ease. We would highly recommend Nadine and her team. Bought a Single Family home in 2020 in Worthington, MA. Local knowledge, Process expertise, Responsiveness, Negotiation skills. = 5.0 Nadine Hiser is a quintessential real estate agent - very knowledgeable about the market, spot-on with advice and very prompt with communications. We purchased a wonderful property and we found Nadine to be straightforward and helpful in the process. Purchasing a house during the COVID pandemic added extra complexity and Nadine worked to make sure we had answers during each step, she was especially insightful regarding the scheduling for inspections and appraisals. Highly likely to recommend|5.0 10/08/2020 - Lisagarrigan11

Highly likely to recommend|5.0 05/28/2020 - debw529

Bought a Single Family home in 2020 in Pittsfield, MA. Local knowledge, Process expertise, Responsiveness Negotiation skills. = 5.0

From the very beginning, right to the very successful end where we finally found our lovely home, Nadine Hiser has been superb. She is professional, straightforward, honest, reliable, hardworking, cooperative, extremely knowledgeable of her craft. She walked us through the whole process of buying a house, offering us valuable advice and suggestions, and was so patient and understanding. She answered any and all our questions quickly and she is also very diligent and no nonsense in her dealings, making sure we stayed on track so that things went very smoothly. And during all this she became a trusted and valued friend into the bargain. We highly recommend her services. Bought a Single Family home in 2019 in Pittsfield, MA. Local knowledge, Process expertise, Responsiveness Negotiation skills. = 5.0 We had the pleasure of working with Nadine this past summer to find our perfect home! We were looking in a highly sought after area of town, beginning our search with a foreclosure. We had been looking casually but were interested in this particular one. When it came time to make an offer we of course sought after an agent and contacted one we had previously worked. Much to our surprise he wouldn’t return our calls and we found ourselves in contact with Nadine after finding her through her high ratings on Zillow. I feel this was truly a Godsend as she was so knowledgeable and recognized issues with the foreclosure we hadn’t noticed or even thought about. She advised regardless we look at other listings prior to making an offer to get a feel of what was out there. I’m so thankful we listened to her and were able to ultimately purchase a larger home in move in ready condition in an even better neighborhood and for all in less cost! We were truly so impressed by her and her associates that we had the opportunity to work with; they were all very thorough in their inspections, honest and accommodating in helping us find Highly likely to recommend|5.0 12/06/2019 - Kaileigh Rachwal

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listings based upon our requests and needs. Thank you Nadine and Key Realty! Highly likely to recommend|5.0 07/24/2019 - kcfrancis35 Bought a Single Family home in 2019 in Williamstown, MA. Review for Member: Hiser Dream Team Local knowledge, Process expertise, Responsiveness Negotiation skills. = 5.0 Pete and Nadine went out of their way to help me every step of the way in buying my home. I was a first-time home buyer and they were always helpful, responsive and honest. We looked at several properties together, Pete offered a great amount of knowledge about the condition and construction of the homes, while Nadine talked with me extensively to help me understand the home buying experience. Together they helped me consider every option and looked out for my interests. I couldn’t be happier, and I would recommend key realty to anyone! Highly likely to recommend|5.0 07/09/2019 - JRTIE Sold a Single Family home in 2019 in Lanesborough, MA. Local knowledge, Process expertise, Responsiveness Negotiation skills. = 5.0 Thank you so much for all your help with selling our family estate! You are kind, talented and super knowledgeable regarding all aspects of the real estate business and you know how to handle 6 clients in a trust!!! This was a long few months of getting all the many parts together and having our house rezoned and updated with the fire protection etc. You and your team (especially your husband for hanging the alarms) were truly amazing! You all went so above and beyond that in hind sight I know we would not have been able to jump through all the hoops without you! Nadine, you have so much to offer anybody that is looking for a

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true professional real estate agent and a genuinely wonderful person. Please have anyone thinking of hiring you give me a call and I will review the 100 reasons to hire you. We had hired someone before you for this property and I have sold houses on my own, but I would never do either of those again. You made the process easy, lucrative and fun! Love and light, Joanne.

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Want Top Dollar For Your Home?

There are things you can do to better position your property to sell for top dollar. If you use these strategies, you may reap the benefits of higher Buyer interest, more Buyer showings, and perhaps even competition between Buyers' offers! These are factors to consider when the goal is to sell the property for the highest possible price, with excellent terms, in the shortest period of time. Let's set a goal that's achievable. Allow us to provide a Free "Custom Market Analysis, CMA" and a Free “Sell For Top Dollar” consultation. The CMA will compare your property to similar properties that have recently sold in order to give you a predicted expected sale price range. The "Top Dollar" consultation is a reasonable "to do list", created within your means, that may help you reach the higher end of that range. We’ll give you advice on marketing, pictures, pricing strategy, staging, negotiations, etc. Each of these items is crucial to your sale. So, if you’d like to get started, give us a call at 413-329-5209. We’ll schedule a time that works for the both of us to meet. We'll guide you through this life transition, and we look forward to being "the key to your dreams".

Best Regards,

Nadine Hiser & The Dream Team

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. Once you decide to sell your property, its best to put emotions aside and look at the transaction in a business light. 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. Buyers are comparing homes side by side within a specific price range. To make your home stand out, will require 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 because for a Buyer it IS an emotional decision.

Most Sellers do not venture alone into the complicated endeavor

of 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 comfort and confidence for you while I invite you to build rapport with me as you learn a tiny bit about the real estate industry. My goal is for all prospective or active home Sellers to independently achieve a better understanding of the home- selling process. This book also includes some actionable insight into how best to market a home, how to avoid critical mistakes, and how to maintain a proper focus. I can 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. Together we can review the master secrets of successful home Sellers. Why do some comparable homes sell for considerably different prices? My sincere hope is that together we can make the most of your time and efforts and my advertising and strategies to get you the most for your property. Let's review your home’s market value, best listing price range, some negotiation tactics, and most importantly, which improvements may produce the best Return on Investment (ROI). 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 knowing when to say "yes, we have a deal".

Lastly, we look at what an 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, you might want to talk with me. I stand by to assist you with a Comparative Market Analysis and a solid marketing plan to fit your budget and lifestyle.

CHAPTER 2 First Steps To Home Selling “But You Gotta Know the Territory” — and Terminology 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, as some websites may make you beleive. 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, nor what at website says its worth, nor what the tax assessor has deemed it to be worht. Your proeprty is worth the most that a ready, willing and able buyer is ready, willing and able to pay. Recognizing all the factors in determinng value and desirabilty will help to avoid overpricing which is 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. This opinion is as objective as it can be, when determined by a real estate professional and is calculated by a detailed review of the sold prices for similar properties in the same location. Condition and amenities are also a factor in determining the price. Appraisal value is an evaluation of a property’s worth at a given point in time that is performed by a professional appraiser. Generally an appraisal is a secondary check in the value of a property in an attemtp to protect the lender from over-lending. Appraised value is a crucial factor in loan underwriting and determines how much money may be borrowed and under what 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, because there is more risk for the lender. 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. Statistically properties can be assessed higher than their current value, and in some cases, they are even assessed lower.

SO, WHAT IS YOUR HOME REALLY 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.

ONLINE HOME VALUATION

Online tools will provide you with a very basic estimate of your home’s current value based on recent comparable home sales in your area using a comprehensive database. Note that the assessment is based on available data with no guarantee of accuracy and often uses an algorithm that simply averages comparable sales in the geographic area. Additionally, since it is a math equasion, it cannot take into account the differences a real estate professional will take into account when homes in a very short distance from each other, are actually in a very different kind of location. These tools might be quick and easy, but they don’t take into consideration factors like location, current local trends and the condition of the property or that of the properties it is being compared to. Be aware that the prices arrived upon might be highly inaccurate. Let’s look at a home that was put into one such system. The home last sold for $180,000 in 1998; it was appraised for refinancing in 2015 at $275,000. In 2017, an online calculator valued this 1890 home (4 bedrooms, 1.5 baths, and 2,100 square feet) at $158,000. The apparent reason is that the six “comps” (comparable recent sales) included only 2 homes in this neighborhood (over $300,000), while four others outside this small neighborhood, although close, sold for $150,000 to $199,000. Because the system doesn’t understand the makeup of the area and simply pulled prices from a broader geographic area, the arrived-upon price was far below what it should have been. These tools are worthwhile for obtaining “comps” of area sales; however, they are not highly accurate in arriving at a listing price.

EXAMPLE OF DIFFERING HOME VALUATIONS

A buyer is interested in a home listed at $420,000. The online valuation determines the house is worth $440,000. Based on that estimate, the buyer offers the asking price. When a professional appraisal comes in at $400,000, and the existing tax records assess the home at $300,000, the buyer wonders why the values are so

different and whether he overpaid.

The house was listed at $420,000 because at that price, the home would sell in a reasonable amount of time. Why would the appraised value not be whatever a buyer was willing to pay? The fact that they paid $420,000 does not mean that is the true value of the home. Certain factors may weigh in — undesirable businesses located near the property, for example. Online valuations cannot take into consideration the condition of the property or the qualities of the neighborhood. Appraisers visit many properties and will often have first-hand knowledge about comparable sold properties that will make the appraised value differ. Honestly, a good appraiser will also reach out to the real estate professionals who sold the properties of which they intend to use in their comparative reports to be sure there aren't any hidden or in accessible knowledge of why a property sold for what it did. Real estate professionals are on the front line and often times have knowledge that appraisers cannot discover from public records. Since an assessed home value is for taxing purposes only, it can be much more or much less than the market value. Ideally, they should be the same, but usually they are not; in some municipalities it may even be based on a percentage of the estimated market value determined by a professional. From legal descriptions to onsite inspections to comparable home-selling prices, the assessor will take all these things into consideration when assessing a home.

PROFESSIONAL APPRAISAL

Nothing better determines the sale price of a piece of real estate but the price at which it actually sells. Houses are not same-priced identical, like cans of tuna on the grocery store shelf or shares of stock on the stock exchange.

Real estate appraisal (“property valuation”) is the process of developing a perspective of value for real property. Once a ready, willing, and reasonable buyer has determined the price at which they are willing to pay, a lender will want to verify that value. It is an important part of the process as every property is unique in features and characteristics. An appraisal helps in various decision points. The seller can use the appraisal as a basis for re-pricing, sometimes if a lender denies a loan based on the appraisal. Some buyers may choose to hire an appraiser before they make an offer, as a way to gauge and leverage their offer. Lenders use appraisals, as one of the forms of protection for the lender, in order to predict value so they 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, custom-built) • Features (including design) - quality of materials used, etc. • Improvements made • Comparable sales • Location - type of neighborhood (business, residential, agricultural, etc.), zoning areas, proximity to other establishments • Age of property • Size • Depreciation • Amenities 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 MARKET ANALYSIS (CMA) BY A REAL ESTATE PROFESSIONAL

This type of home valuation predition is free from real estate professionals and more accurate than automated online reports so long as the professional is familiar with the geographic area. A CMA provides detailed information on each house sold in your area over the last six-12 months, along with the final sale price, after calculated adjustments. It may also include the specifics of the houses for sale in your area, including the asking price, and properties that are under agreement awaiting the sale's closure. These homes are your competition. The real estate professional's prediction may also take into account your detailed knowledge of your properties improvements or amenities and the professional is able answer questions as to how the other's compare or don't compare in order to 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.

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 (projected 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 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 may 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 30-60 days, while that of a slow market may be up to nine months or more. Typically, if a economic average is that properties are selling in five months or less, it 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 may get unexpected phone calls at all hours from unrepresented consumer buyers or buyers’ agents to show the home. Sellers may also get 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 other presentations.

There are repeated showings when the home first hits the market.

The point we always make at Key Realty is - if we can't show the house, we cannot sell it. Not every buyer is local; if you're not ready, the opportunity may be lost forever. So, keeping your home in pristine showing condition for impromptu visitor, because the perfect prospect might just drop in at dinnertime. SUCCESSFUL, EFFICIENT SHOWINGS & CHILDREN AND PETS SHOULD BE UNSEEN, UNHEARD Let’s make the showings as productive and safe as possible. Cute children and pets are distractions for potential buyers, therefore affecting the buyer’s experience of your home. Plan for your children to be elsewhere and your pets to be crated or leashed. Limit distractions by making sure toys are organized and put up and there isn’t dog dust bunnies lying about. Clean, fresh and spacious is the goal. Empty off counter tops and put dishes away. Keep the kitchen and baths sparkling. The pressure of showing to everyone (even those mildly interested in the property) may come from the idea that the more a property is seen, the more quickly and easily a property will sell. Many real estate agents provide their clients with dozens of homes to consider without first having a clear picture of what the buyer really wants. Low-interest traffic can be a burden on the seller’s time, energy, and resources. So here is what I suggest. Since a showing can take an hour or even hours out of your day, finding an interested buyer is what matters most. The home may be seen by more buyers who turn out to be uninterested than to interested buyers. It's unfortunatly part of the process. For buyers it's a process of elimination. But how many times will you have to show your home? In an ideal world, your property would be shown to serious buyers only. The best buyer is a pre-qualified buyer who may have driven

by, and even previewed pictures or videos on line. But, obviously, ultimately the buyers will visit the home in person. With the help of the real estate professional, you can make your efforts the most efficient they can be. We will share and provide a showing safety check list and empower you with more tips for presenting the property in its very best light. And during this challenging time, we empower our Sellers more than ever. In 2021, we suggest you may want to require "pre- qualified Buyers only" for showings into your home. Obviously, the decision is yours, and you can change your direction to us at any time. As a proactive and innovative presence in the local real estate industry company, KEY Realty was first to create a Covid 19 showing protocol. It is also available for your review and can be adopted for showings of your property, if you wish. It is our sincere hope to find you the best buyer we can in the shortest period of time by maximizing the exposure and advertising, but we are also taking steps to try to make your home showings as conscientious as they can be.

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 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, 15

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 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 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. 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 • 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

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. She drove out to give the house a thorough investigation. She 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

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 21

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. Repair and repainting are costlier, but often tell in time-to-sale or sale price.

The goal here is to efficiently get more money for your home.

Homebuyers generally aren’t interested in a home that needs work, unless you want to sell for less. 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!

CREATING A GRAND 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. 23

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. Sometimes wooden doors are worn or deteriorated; 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 APPEAL:

• 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 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 FROM A COLATORATING Author

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. It had a "clean slate" and was ready to be anybody's home.

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. · In some cases, staged homes sold for more than 6% above list price. · A staging investment of 1% to 3% of the list 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

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