Maura White-Howard & Zeke Howard - H0W TO SELL YOUR HOME FOR MORE MONEY

H0W TO SELL YOUR HOME FOR MORE MONEY

H0W TO SELL YOUR HOME OUR HOME FOR MORE MONEY

Maura White-Howard & Zeke Howard

Table Of Contents

Introduction

First Steps to Home Selling

"The 80/20 Rule"

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 Others' Mistakes

11. Finding Buyers

12. Be a Power Negotiator

13. Dos and Don'ts of Negotiations

14. Bargaining Chips

15. Why Hire an Agent?

Foreword When we first ventured into the real estate industry 25+ years ago, we did so because we loved what we did. In our years of experience, we've helped alleviate the stress of selling for numerous clients, and accumulated much knowledge to help them get more money for their homes in the least amount of time. We decided to share all of our expertise in one place with potential clients. And that’s why you’re receiving this book. We want to help you have the best possible home-selling experience. That means we want you to 1. Get the most money possible for your home, 2. Sell in the least amount of time, and 3. Avoid the headaches most commonly associated with the home-selling process. Think of this book as our gift to you. It contains insider advice on the home-selling process to help you achieve your ultimate goal of selling your home for more money , including: • Secret strategies to sell your home for more money • Marketing techniques employed by top agents • Advice on how to appeal to today’s buyers • And much, much more If, after reading through it, you have any questions or want more information we are only a phone call away.

With Warm Regards,

Maura White-Howard , Associate Broker Zeke Howard , Realtor

RE/MAX Professional Realty www.MoveWithMaura.com Direct 484-571-5482

About Maura & her husband Zek a & her husband Zeke

I was born and raised in Pennsylvania, with most of that time in Chester County. For more than half of my life, I've been a full-time Realtor. I received my real estate Sales Associate license in 1995, and just 8 years later, I obtained my Broker license. From the start, I've always loved my job. When you love what you do, it doesn't feel like work. Over the years, I've helped countless clients buy and sell

homes. Each transaction is unique, with different needs, wants, timelines, and financial situations. Through "on-the-job training" in this industry, I've gained a wealth of knowledge and experience. I'm able to use this knowledge and experience to help people achieve the rewards of homeownership. I'm proud to have my husband, Zeke, as a member of my team. After spending 40 years in the IT world, Zeke joined me in real estate in 2020. He has a remarkable talent for adding value to any home in any condition. Together, we bring a valuable perspective to every situation, person, and property in the real estate market.

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Testimonials & Reviews for Maura Whit a White-Howard Here’s a list of people whom I have helped buy or sell a home, and what they said about working with me:

"Maura was easy and pleasant to work with, had answers to all our questions and got the job done." - Bruce A., January 2023

"Personalized service with great follow up!!"

- Kirk S., December 2022

"We are extremely pleased with Maura's level of service, knowledge and commitment to her career. She helped us price our home competitively in a tough market and we sold in 6 days! Maura then helped us navigate through a complicated home purchase, with ease and confidence. We couldn't be happier!" - Kara R., February 2018 "According to Google, the definition of a realtor is, “a person who acts as an agent for the sale and purchase of buildings and land; a real estate agent.” I’m sure you can find hundreds (maybe even thousands) of realtors in the Philadelphia area. But for my wife and I, we wanted someone more than just a person acting on our behalf during the home-buying process. As first-time home buyers, we sought an agent that possessed many qualities. Outside of her 20+ years of experience practicing real estate in the Philadelphia area, Maura White-Howard possessed many of the qualities that made my wife and I feel top of mind during the home-buying process—something that is often lost with high- ix

volume real estate agents. Maura White-Howard was readily available at most hours of the day and night by phone, email and text. Maura always seemed to put us first during the home- buying process. Maura showed my wife and I over 20+ homes before finding the perfect one in late August 2016. From the house one to house twenty, Maura displayed a level of patience that many realtors do not retain as the months go by. As first- time home buyers, we dealt with many challenges in a very, very experienced and expensive market. Maura displayed zero frustration and looked at the next week of homes like it was the very first time she met us. She met us on weekends and weeknights and did whatever it took to make us happy. She was continually bubbly, and cheerful and displayed a smile on her face each time we met, looking all over Chester County, from townhomes and single families to row homes, before finding the perfect home in the heart of Phoenixville borough. When it came time to execute the purchase of the home, Maura managed 100% of the communication between us and the sellers. She outlined a game plan and go-forward strategy accompanied by dates and times, from inspections to settlement day. Maura was also well- connected when it came to shopping for inspectors, brokers, and mortgage insurance. Maura stood by our side 100% until the very end when she congratulated us with a gift card to Home Depot. My wife and I highly recommend Maura White-Howard to anyone looking to buy or sell a home. We will 100% ask Maura to represent us for our next home purchase." -Eric A., October 2016

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, our home where We raised our children and made so many memories is worth more than the bricks and mortar it contains. Real estate transactions involve dozens of decisions and substantial investment in homeowners’ time, energy, and money, and emotions almost always lead to problems in a sales price negotiation. The home seller’s objective is to find that home shopper who cannot resist buying your house at the highest price. To do this, you need to offer potential buyers a striking home sales presentation that outshines other homes on the market. It requires making a fantastic first impression, creating in 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 fleeting seconds. Most sellers do not venture alone into selling their home. They find it better to have an experienced real estate professional with whom the owners are comfortable. This book was written to provide some of that comfort without the direct sales stressors of person-to-person contact. 2

We want the prospective or active home seller to independently achieve a better understanding of the home-selling process. We’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, how to negotiate, and what improvements have the best Return on Investment (ROI). Our sincere hope is that this book will help you make the most of your time and efforts to sell your home. • 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. • Part 3, we examine the critical topic of negotiations — what to expect, and how to conduct them — and finish with a look at what engaging a real estate professional brings to your real estate sale transaction. After you learn the process, requirements, and tips, you will see that an experienced, financially astute real estate professional can vastly cut the time and raise the economic value of your transaction. 3

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 us. We stand by to assist you with a Comparative Market Analysis and a solid marketing plan to fit your needs and lifestyle.

CHAPTER 2 First Steps to Home Selling o 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 — such as location — that determine a home’s price. Setting the price at which to sell your home is not a simple formula, nor mathematical. Many elements factor into the decision. Throughout this book, you will read examples of similar and similarly situated houses that sold for very different prices, along with the reasons for the disparities. A calculated home value is not necessarily what you believe your home is worth. Recognizing this helps avoid overpricing, a major factor that leaves homes languishing or unsold. Familiarity with the real estate terms market value, appraisal value, and assessed value can save disappointment and frustration, and allow the home seller to more meaningfully engage in setting a home’s listing price. The most-used definition of market value is “the most probable price a property should bring in a competitive, open market under conditions requisite to a fair sale.” Essentially, this is a pre- negotiation opinion of what a house should bring in its local market, i.e., its geographical area, generally an area such as a suburb or neighborhood. Appraisal value is an evaluation of a property’s worth at a given point in time that is performed by a professional appraiser. 6

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. Assessed value is the amount local or state government has designated for specific property and frequently differs from market value or appraisal value. This assessed value is used as the basis of property tax and when a property tax is levied. The assessed value of real property is not necessarily equal to the property’s market value. Approximately 60% of U.S. properties are assessed higher than their current value; however, this does not reflect the home’s value.

WHAT IS YOUR HOME WORTH?

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

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. 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. Be aware that the prices arrived upon might be highly inaccurate. For example, a home in Pennsylvania was put into one such system, Redfin. The home last sold for $247,000 in 2003; it was

appraised for refinancing in 2013 at $340,000. In 2017, Redfin’s calculator valued this 2 story home (4 bedrooms, 2.5 baths, and 2,500 square feet) in a 2 mile area of “Honey Brook” at only $285,000. The apparent reason is that the six “comps” (comparable recent sales) included only 2 homes in this desirable neighborhood (over $300,000), while four others outside this small neighborhood, although close, sold for $200,000 to $275,000. 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. 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; it is based on a percentage of the appraised 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 appraising a home. Location near industry, high traffic, or potential development will also affect the appraisal.

PROFESSIONAL APPRAISAL

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

The important factors in a house appraisal are:

• Dwelling type (e.g., one-story, two-story, split-level, factory-built) • Amount of bedrooms, bathrooms, fireplaces and lot size • Improvements made • Comparable sales • Location — type of neighborhood, zoning areas, proximity to other establishments • Age of property • Size - Square footage of home

• Depreciation

Condition, of course, is a crucial factor in valuation, but not cosmetics. Fresh paint or new carpet do not count towards appraisal value. Location is also a factor; however, as property cannot change location, upgrades or improvements to a residential property often can enhance its value. A professional appraiser should be a qualified, disinterested specialist in real estate appraisals, with expertise in your region. His or her job is to determine an estimated value by inspecting the property, reviewing the initial purchase price, and weighing it against recent sales with the same purchase price.

COMPARATIVE MARKE TIVE MARKET ANALYSIS BY A REAL ESTATE PROFESSIONAL

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

THE SECOND STEP (SELLING YOUR HOME FOR MORE)

Prior discussion showed that there is no calculable certainty in setting the value of a home. There can be wide differences between the seller’s assessed price, the asking or listing price (market value), and the price at which the home sells (sale price). Let’s turn to what the homeowner/seller can do to elicit offers at the listing price, or even above, 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 by improving, freshening, landscaping, and generally making the home pristine — and to live in that presentation-readiness 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. Prior to March of 2020 a market in which homes normally sold in no more than six months of listing was considered balanced or neutral, which means a good number of homeowners are selling and buyers are purchasing; therefore, neither has an upper hand. After March 2020, the market has tipped the scale toward homeowners, due to the lack of homes for sale. The typical selling time in this post March 2020 market is generally less than 30 days. Although it is not necessarily true for every house for sale, many factors still apply as to how long it will take for your home to sell. We do not know how long this market will last, but for now this is where we are. Historically, any number below six months is considered a seller’s market.

LIVING IN A SWIRLING FISHBOWL

A house on the market requires keeping the home in a constant “show-ready” condition, and adjustment to changes in day-to-

day life that are inherent in the process. Sellers get out-of- business-hours phone calls from unrepresented prospects and buyers’ agents to show the home; frequent updates by phone, email, and text and show appointment scheduling messages from the listing agent; repair and reconditioning appointments; and inspections. The house may be photographed for online, periodical, or brochure presentations. There are repeated showings when the home first hits the market. Keep your home in pristine showing condition for impromptu visitors — the perfect prospect might just drop in at dinnertime. Rude, perhaps, but necessary to accommodate. CHILDREN & PETS SHOULD NOT BE IN THE H E IN THE HOME DURING A SHOWING. Children and pets are distractions for potential buyers, affecting their experience of your home. You want the buyers looking at your house and picturing their furniture in your living room, not petting your doggie. You should plan for your children to be elsewhere and your pets crated or leashed, and no toys lying about or dog hair on the sofa. The dishes should always be done and the kitchen sparkling. The pressure of showing to everyone even mildly interested in looking (not necessarily buying) may come from the idea that the more your home is seen, the more quickly and easily your home will sell. Many real estate agents provide their clients with dozens of homes to consider without a clear picture of what the buyer wants. Low-interest traffic can be heavy and a burden on the seller’s time, energy, and resources. Since a showing can take an hour or hours, finding an interested buyer is what matters most. The home will be shown to many more uninterested than interested buyers. How many times will you have to show your home? In an ideal world, your property would be shown to serious buyers only. However, many “Sunday

afternoon window shoppers” exist in the real estate business.

You shouldn’t waste your time trying to appeal to uninterested buyers. This is where planning, organizing, and the professional help of a qualified real estate agent enable you to handle even the most intimidating tasks without wasting your efforts.

CHAPTER 3 "The 80/20 Rule"

“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. The story is that 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 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. The generalization became 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 14

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. 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 features.

BUYER’S STORY

When Eric and Cindy were on the hunt for a new home, they had a clear idea in mind – they wanted a property that was conveniently located near shopping and restaurants. They scoured through numerous options, including condos, townhomes, and single-family homes, but none seemed to fit the bill. Some were either too expensive, too far out of town, or needed too many repairs. After viewing more than 20 properties, they finally stumbled upon an older home that was situated within walking distance of everything they were looking for, including parks, restaurants, and shopping areas.

Although the exterior of the house was quite plain and the interior was in need of a few updates, Eric and Cindy were unfazed. They knew that these shortcomings could easily be fixed, and their focus remained on the prime location. So what was the 20% of this particular property that caught their attention and ultimately sealed the deal? It was the walkable, central location that was the key factor for them. Being able to easily access all their favorite restaurants and shopping areas on foot was a huge draw, and it was exactly what they had been looking for all along.

SELLER’S STORY

When Carol put her house on the market, she was in search of a buyer who wouldn't mind that it was situated on a busy road. Despite this, the home boasted four bedrooms and a spacious sunroom that overlooked a large, flat backyard bordered by trees. The interior had also been updated with fresh, neutral wall colors and new carpeting to give it a modern, brand new look. The potential buyers had looked at other similar homes in the area with four bedrooms that were comparable in terms of both interior and exterior features. However, these homes were located in small lots within developments. So what about Carol's home caught the eye of the buyers and ultimately made them choose it over the others? It was the stunning, large sunroom that overlooked the expansive, flat backyard. The property spanned across one acre and was surrounded by trees, offering more privacy compared to the other properties. This 20% is what made the buyers fall in love with Carol's home.

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 on the market because he's had a characteristic shared by fewer than 10% of others. He had the only available listing offering that features. 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, if necessary, and spotlight the unique features of your home in marketing copy, online and print photographs, and in showing the house. Do not spend much time explaining how the storage room can be converted to another full bath; instead, lead the dog-owning prospect to the fenced-

off dog run in the unusually large backyard. If the home has a certain feature a buyer is specifically looking for, highlighting this

aspect in marketing efforts will attract interested buyers willing to pay the asking price. Each house will have its unique features. Here are some suggestions if you aren’t sure of yours: • Hilltop views or high vantage points, offer a spectacular view of the surrounding area • Open fields frequented by wildlife • Unobstructed views of sunrise and sunset • Patios, decks, dog runs, garden areas, and gazebos — highlight items neighboring houses don’t have, or differences in size or quality; that one vital feature could help you sell your home • Location can set a property apart, even in the same area, adding value to a home on a cul-de-sac or corner lot • A private location or lot partially concealed by trees • A unique, shady, or larger backyard; a fenced backyard is a big selling point (if your yard can be fenced, but is not, consider making that improvement) • Finished basement, large attic or garage, swimming pool, or anything else that makes your home stand out

LOOK FOR THE 20% D R THE 20% DIFFERENCE AND MARKET THE FEA T THE FEATURE

Following the 80/20 rule can lessen the time shown 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 up as frequently. You also won’t have to sift through lowball 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 were dwindling. They stopped at one last house as the sunset. The exterior of the house was dated and the yard was 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 the room, he wanted to buy the home for the 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 of 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. On the contrary, it was a brand-new, custom-built home. 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, but it was also more private than the other properties. The real estate agent marketed the property highlighting the five acres along with a description of the house. Because the house was no longer the main selling point, interest in the property increased.

CHAPTER 4 Creating Curb Appeal b Appeal

Someone said, “a stunning first impression was not the same thing as love at first sight. But surely it was 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 transaction more than

first impressions. So, 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. For picking a lunch place on a busy avenue in a tourist spot, it’s either the outside presentation or, as we saw prior 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 clams 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 seen nailed to electric poles. Rehabbers look for ugly houses so that they can pay the least amount possible; homebuyers looking for a deal — but not a “basement bargain” — do not. Creating curb appeal is essential to attracting interest in your home. How your home looks from the road is so persuasive that a well-prepared house may catch the attention of buyers who did not find the written description particularly compelling, or a neglected house can cause a buyer previously excited by a printed or online marketing listing a specific desired feature to cruise right on by. Try it. Go out into your street and look — we mean 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. 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. Low-cost investments like power washing the house and concrete, repainting trim, and adding landscaping also give your house more curb appeal. The goal here is to get more money for your home. Homebuyers generally aren’t interested in a home that needs work unless you want to sell below market value. Look around your yard and make a written list of everything that could be improved: • Shrubs trimmed, flower gardens tended, and walkways tidied; beds weeded • No trash, trash cans, lawn clippings, branches, or general mess in the yard • All outside fixtures and components working and in good repair (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! 24

CREATING A GRAND ENTR AND ENTRANCE

As we 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 in the buyer 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. It might be arranged that the prospective buyer be the one to open the front door to enhance the feeling of a “coming-home” experience. The doorknob is the first point of touch in a home. Security is important to homebuyers. A flimsy lock or handle on the front door will make potential homebuyers uncomfortable and they may not even know why. Replace a worn or loose entry handset. Consider replacing the door handle with a heavy-duty deadbolt and knob combination. This investment of less than $100 will make your home more visibly and practically secure, and everyone wants to be secure in their home. The front door is a focal point; make it impressive. Freshen it up and add a dash of color. Choose a paint that complements the color of your home. Replacing a wooden door with a steel entry door is worth the cost with a 91% ROI (Return on Investment).

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

• Symmetry appeals to the eye and is easy to accomplish. Lopsided landscaping or unevenly trimmed bushes will detract from the curb appeal; the overall appearance of the

home needs balance. • The mailbox should complement your home. If it is worn, dated, or unsightly, replace it. This doesn’t cost much and is worthwhile. • Use outdoor lighting to add to landscaping appeal as well as a perceived safety feature. • Use flower boxes and raised flower beds to add instant color. This is an easy, inexpensive way to enhance curb appeal. • Spruce up the landscaping. Eliminating weeds and adding fresh mulch can 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 their 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, diminishing the inviting look. • Paint or stain railings (if weathered). • Try a fresh coat of 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, no matter how uninterested they might have been initially. If you put money into cleaning up the outside of your home, buyers will be 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 and setting up a home to make it as visually appealing as possible to a prospective buyer. Creating an eye-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. In today’s competitive real estate market, selling your home requires hard work and dedication. A motivated seller can bring the home to the marketing forefront. 28

Staging the home will:

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

STAGING VS. NON-STAGED CASE STUDY & REPORT

Staging vs. Non-staging Case Study

Dear Reader,

We 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 our research, we 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 we could find was in the case of these two listings. This development has 100 equivalent townhouses located in Chester Springs, Pa. Every townhome in the neighborhood is two stories with three bedrooms and three bathrooms. Every unit has the same floor plan.

We looked for two sales there, and found these:

Townhome A sold on May 10 2021. Townhome B (on the same street) sold on August 30th 2021, for 30,000 dollars less.

We visited this neighborhood, and We are familiar with these properties. You could not find a better example of two identical properties that sold for different prices. The details show these two homes are identical in every substantial way: 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 hardwood floor. Both units had nice hardwood floors in the living room and carpeted bedrooms. Every important detail of these townhouses was identical. We studied every aspect of these sales to find what made the difference. There are two reasons one home sold for $30,000 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 $30,000 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 S G WHEN SELLING A HOME

Consider these results from surveys conducted by 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 the asking price. • A staging investment of 1% to 3% of the asking price generates an ROI of between 8% and 10%. • Homes staged prior to listing sold 79% faster than homes staged after listing.

WHAT DO BUYERS WANT TO SEE?

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

NEUTRALIZE FOR EYE APPEAL

The idea is to neutralize the home regarding personal taste or decoration such that buyers can easily envision the home as it would be outfitted to 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. 31

An effective way to achieve this is to paint all rooms in a neutral color. A wide range of neutrals from soft grays to warm beiges are available. Painting the interior gives newness and freshness and can make the home appear more spacious. Using the same color in visibly adjacent rooms gives the house a seamless look and uninterrupted flow. Changing your window coverings to match the walls can 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 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. The seller’s taste and style will be showcased while the home is on the market, which 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 on what fills up space and relegating it to a storage unit creates interest by showcasing ample space and storage and not overflowing closets and basement/attic areas. 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 of easy chairs into floating group spaces. Every room must be staged to show function. An empty room used for overflowing 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 obvious so buyers can browse each room without effort.

EMOTIONAL CUES AL CUES

Once every room has a purpose, creating an atmosphere is crucial to making the home desirable. Decorative touches of greenery, flowers, and lit candles 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 decor and a rocking chair draped with a throw, you heighten its appeal. Be sure to add elements of the same color, shape, or texture to unify the room. Any splashes of bold 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 seasonally decorate your home without dashing your appeal. The main goal is to keep your home clean and free of the clutter that distracts would-be buyers. Even simple things can

make a big impact on the final sale price of a home. Staging done well is one of those things! You have two options for staging a home: do it yourself or hire a professional home stager. If you are considering hiring someone, we can provide recommendations.

TO STAY OR NOT TO STAY?

Home sellers often ask whether they should stay in their home while it is on the market, or go. There are pros and cons to both and factors that can tip the scale to one side. If the seller has engaged a real estate agent, the burden of showing the home is virtually eliminated. The agent will field all calls, set appointments, and show the home. Relatedly, the chances that a buyer’s real estate agent will show your home are increased. Busy schedules often cause agents, as with anyone, to take the path of least resistance. If they have 20 homes to show and 5 are occupied, they may well show the vacant homes because it’s easier. They don’t have to call and make an appointment. They can simply go over and use the lockbox. Further, the continual pressure to keep daily life from affecting the home’s pristine staging presentation isn’t there. The seller is not under constant pressure to keep the home in immaculate showing condition and spotless. If you might be unwilling to keep the home in turnkey condition for showing purposes, consider vacating before putting the home on the market. There are situations in which it’s almost essential to vacate the home during the selling period—e.g. if the sellers’ home is simply too messy to show while the sellers live there. Reasons for messy homes vary. Some sellers are pack rats and their home reflects that behavior because boxes are piled everywhere, and rooms are stuffed to the gills with personal

belongings. This is a considerable obstacle to getting a good offer. Other sellers have several occupants, which can present difficulty in always maintaining a clean, show-ready home.

CHAPTER 6 Upgrading with ROI in Mind OI in Mind

Making upgrades can be as easy as replacing the handset on your front door or as daunting as remodeling a kitchen or bathroom or even repainting the entire house. The question is always 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 in preparing for sale. Some desirable upgrades or home improvements will not return their cost in the sale price. The best ROI improvement a seller can make on their home will depend on various factors such as the current condition of the home and the local real estate market. However, here are some general improvements that tend to provide a good return on investment: Kitchen Remodel: The kitchen is often the heart of the home and can be a significant factor in a buyer's decision-making process. Updating the kitchen with modern appliances, countertops, and cabinets can increase the home's value significantly.

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