Selling

Does Staging Really Help Sell Your House

posted by Larycia Hawkins on

Selling a home is a process—its end goal being to get the property off the market as soon as possible. There are many strategies that can be used to reach that goal and staging is one of them. Staging entails hiring a professional designer to decorate the property to be on sale with the purpose of accentuating the home’s features. The cost of staging generally varies from state to state.

So, does staging really help sell faster? The answer is yes, and there’s data to prove it. A 2013 study by RESA found that 170 staged properties on sale for $300,000 to $499,000 sold on average of 22 days compared to 125 days on the market of un-staged homes. However, this is not always the case. At times, the speed of the sale it also depends on the market. For instance, a staged home can be sold as quickly as an un-staged home in high demand neighborhoods. However, for sales that requires more of a convincing push, staging can make a difference. We can understand this difference by understanding how buyers think as they’re making an investment decision.

 Competitive advantage in digital advertising

It’s highly likely that the first interaction a potential client will have the home will be online. For that reason, it’s imperative to capture their attention from the get-go and a staged home has that effect. Because it’s a professionally curated space, clients can aspire to live in a beautiful space—they can see themselves there! This type of connection is the first step to pulling them to making a physical visit.

Potential clients can visualize themselves in the space and see the home’s potential

Having furniture and décor in place helps clients see the home from a practical stand-point. They can discern the different rooms and their décor and give them ideas on how they can be used.

It also gives an opportunity to see the possibility of how they would orient their lifestyle in the space! Entertaining in the modern kitchen, enjoying a family movie on the comfortable sofa, tucking in the kids in the twin beds. All this creates a connection between the buyer and the home and drives them to make a purchase decision.

Accentuates space available

A staged home makes it looks bigger. Clients generally don’t have the eye to envision how furniture will fit into empty space—will it be too big, will it be too small? Staging helps them see that even with furniture in the space, the home still have plenty of negative space for navigation.

Because it helps the client visualize the space and envision themselves in it, staging can shape the buyer’s decision. It helps them interact with the home and see its potential more so than an empty space. Once a client has established a connection with the property, they’re likely to make an offer.

Buying

Tips to Avoid Buying a Money Pit

posted by Larycia Hawkins on
Tips to Avoid Buying a Money Pit

You have saved for years, decades even, just so you can buy your dream home. Sacrifices have been made but you don’t care because it will all be worth it. The thought of moving in with your family and making memories is making you excited. However, we are living in a world where honest dealings are rare. This is why it is important to make sure that your efforts don’t go to waste by buying a money pit. Here are 5 useful tips to avoid buying a money pit!

Check out the basement

Most houses come with a basement but few people ever think of looking at it. What most people don’t know is that the basement will give you a quick read on what kind of house you are about to buy. It will give you a clear picture of the quality of construction and building materials.  Here is what to look for in the basement.

Drainage, plumbing and electrical systems

Are the drainage systems well-established? Does the house have a history of drainage problems? Ensure that any underlying drainage issues are fully handled before investing. Check all plumbing pipes to make sure that they are not old and rusty. Rusty pipes are most likely to leak. You should also look out for old electrical systems to avoid failures in the future.

General house structure

A house is only as good as its foundation. Ensure the house is built on a solid foundation and is reinforced with steel. Look at it from a distance to make sure its standing straight. Inspect the floors to ensure they are flat and doors to see if they fit.

Water damage and cracks

Cracks are the first red flag for any house. They may be an indication of underlying structural issues or an unstable foundation. Minor cracks are okay. It is the big ones and the v-shaped ones that you should look out for.  You should also check for mold as they are sign of water damage. They are also an indication that the house is not damp proofed.

Bad weather visit

The one thing most people forget to do is visit the house during bad weather. There are so many things that a good weather visit cannot reveal. This includes roof leaks and flooding issues.

Are you in the market for a new home?

Ensure that you have made all the above checks before buying your new home! To be on the safe side, it is advisable to hire a certified home inspector.

Buying

Why Your Realtor Needs Excellent Negotiating Skills

posted by Larycia Hawkins on
Why Your Realtor Needs Excellent Negotiating Skills

Realtors are essential in helping you sell your houses or properties. Realtors work very hard to see that you get the best offers and sell your properties at the best price depending on the market value. For that reason, your realtor needs to have exceptional negotiation skills. On top of that, real estate agents should understand that buyers have different needs and have different financial powers. As a result, they should handle buyers well to ensure a win win situation for the seller as well as the buyer. Below is a brief discussion why your realtor needs to have excellent negotiation skills.

To help you sell properties at good prices

The main aim of a realtor is to help you sell your properties. Selling a property is not enough but selling it at a good price is all you want. For that reason you need a real estate agent that is sharp and understands the market. With a good understanding of the market value there is no doubt your realtor will have the power to negotiate and sell the property at a price that will make you smile. A good realtor will be able to use his negotiation tactics to make sure the buyer is comfortable with the price and ready to seal the deal.

With good negotiation skills, your properties will sell fast

Good realtors have the ability to sell properties fast. Good agents understand what clients want and know how to negotiate with every client that may come their
way. Therefore, having a realtor with exceptional negotiation skills, you will sell your property or properties fast. This is a good thing to your real estate business.

Positions you as the best dealer in the real estate business

With a top realtor in your real estate business, you have a high chance of positioning your business as the best option on the market. With a top realtor representing your business, there is no doubt that they will use their negotiation skills to keep and bring more clients to your business. With sharp negotiation skills of your realtor, your real estate business will stand out.

Conclusion

Exceptional negotiations skills are essential in the real estate sector. Your realtor needs to have top negotiation skills to ensure that your business gets exceptional offers. This ensures that you real estate business makes profit and makes more sales than your competitors. Realtors can improve their negotiation skills by learning from the experts in the industry and even taking online courses.

Buying

Financial Considerations of Buying a Home

posted by Larycia Hawkins on
Financial Considerations of Buying a Home

There are many things to consider when you’re buying a home. Owning a home in today’s economy is living the “American Dream.” New millennials are opting to own their first home over renting an apartment. They prefer the prospects of being a first-time homeowner over renting an apartment with less space, rude neighbors, crowded parking spots, and a hostile landlord. So, you’ve decided to buy a home, what are your financial obligations? A professional can help you sort out the ins and outs of the financial obligations of owning a home, but the following user-friendly guide will give you some basic ideas on your financial responsibilities for home ownership.

Financial Obligations To Buy A Home

  1. Emergency Funds

Emergency funds is a very important aspect of homeownership because it helps you prepare for financial obligations that may arise after you purchase your new home. You can always run in a financial rut that causes you to miss a mortgage payment or two, but with the right emergency funds set aside, you can prepare for illness, injury, or loss of income.

  1. Mortgage/Down Payment

Your financial backing to buy your new home is one of the most important parts of homeownership. You may have to prepare to put down your own down payment or work with a mortgage lender like the FHA. However, the obligation is still there to secure $10,000 or more for your down payment. If you start saving your money early, it could still take 5-10 years to save enough money for a down payment on a home. Plan as early as possible by putting enough money aside for your dream home.

  1. Upkeep

The Home Owner’s Association in your neighborhood and city ordinances will require that you keep your home at a certain standard. Keeping the grass cut, trees trimmed, and leaves raked up in the fall will cost money (unless you get the kids to do it). A professional landscaper can help you maintain an eye catching yard and possibly help you with that garden you’ve always wanted.

Don’t set aside your financial obligations as a home owner because it can cost you in the long run. Owning a home isn’t cheap, but with the proper financial planning it’s worth the effort. Plus, the value of your home is dependent on a lot of factors that will weigh in on how much money you have invested in your home to keep up it’s appearance.