CHAPTER 8 The Secret Strategy to Sell for More Money
Once upon a time, there were two similar condos in a luxury condo building. Seller One got $439,000 for their unit. Seller Two, however, got $549,000. That’s a $110,000 difference! The secret was the specific strategy used by Seller Two’s agent, who had actually learned the strategy from a former client. This client was a wealthy executive who agreed to hire the agent only if the agent agreed to use his strategy. Of course, the agent was a bit nervous — who wouldn’t be? But if it worked, the agent would earn a great commission. Worst case scenario, the condo wouldn’t sell, and the agent would move on to new clients. The agent ultimately agreed, and he and his client listed the condo at $554,900, almost $76,000 higher than the highest similar condo on the market. For four months, people walked through the unit but never made offers. They felt it was overpriced, especially for a unit that wasn’t even a penthouse. Then one day, the ideal buyer came for a tour—and didn’t even finish it before making an offer of $549,000, which was 98.9% of the asking price and a record sale for the building! So what’s the secret strategy, you’re wondering? It’s staging. Yes, the simple act of making the home look as visually appealing as possible can lead to your home selling for more—sometimes a lot more! How much more? Well, according to the National Association of Realtors® (NAR), on average, staging costs 1-3% of the asking 27
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