09 Apr THE PITFALLS IN PROPERTY PRESENTATION: PART 2
FACTORS IN THE SELLER
This is the second part in a series devoted to the pitfalls relating to property presentation. The first part focused on the attributes of a property, and how missing on integral elements lead to a challenging presentation. This part focuses on the factors in a seller.
Renovation or makeover: cost against returns
If you plan to sell your home, it is expected for you to spend some cash for improvement and repairs. If you’re holding on tightly on your purse, your property’s potential for maximised return may never fully materialise. Remember that value-added work done on your property increases its market value. Work with a trusted professional to identify cost-effective makeover strategies.
The price: personally reasonable but unrealistic
There are a lot of factors in the market and in your home that affects the latter’s value. However, if you add the cost of renovation or a makeover and your emotional investment in it, you may end up quoting a market price that’s beyond expectations. Price is the first thing that buyers will be interested in. Minimise cost by working with a property makeover specialist, and determine a competitive market price through professional valuation.
Marketing: get everything or nothing
The Internet is today’s global encyclopedia. Before buyers even visit your property, they could already have looked it up online. This means that those who end up attending inspection are more likely to buy your home than those who did not. So invest in good photography and enable your agent to capitalise on the presentation and great marketing.
Flexibility: deal or no deal
Just because you declared X as the value of your home means that you can never settle for Y or Z. Every buyer needs a form of certainty – a feeling associated with being offered something more on top of the acquired commodity. In this case, agree on a price or prepare to give a bonus. Be prepared to negotiate.
Just like a job interview, property presentation involves detailed scrutiny of your property as an ideal candidate for someone else’s next home. Before your property goes through the interview process, it needs preparation. While it’s going through the interview, it needs to support it’s “experiences” through exceptional property presentation. When it walks out of the interview room, it’s supposed to have found it’s job – it’s next owner. That’s what these pitfalls are for. It ensures that when your house goes out job hunting, it comes back with bacon in tow!