For Immediate Release:
January 15, 2009
THE REALITIES OF SELLING A HOME IN TODAY'S MARKET
(Edison, NJ) Preparing a home for sale in
today's market often requires more than just
few cosmetic improvements - it requires
keeping an open mind about what buyers are
looking for, and staying up to date on the
local housing market. Homeowners can change
the way buyers view a property inside and
out with some updated staging and marketing
techniques, and should be open to their
REALTORS®' more realistic suggestions for
pricing.
"Buyers are benefiting from being able to
pick and choose from a wide variety of homes
on the market. They are going to be more
thorough with their searches and sellers
should be prepared for that," said 2009 New
Jersey Association of REALTORS® (NJAR®)
President, Diane Dilzell. "In today's
market, buyers can get a great house at a
great price so it's important that sellers
differentiate themselves from competing
properties."
Setting a realistic price. When it
comes to selling a home, it's important to
keep in mind that value depends on what the
buyer is willing to pay for your property
and many factors contribute to their
perceptions. Prices depend on local
characteristics such as job opportunities,
housing supply, school systems and more.
Sellers should stay realistic and set the
price with a REALTOR® who can help determine
which factors are at work in a given
marketplace. Also, the time the owner "must"
sell or the amount of repairs the home needs
can play a large role in setting a fair
price.
"Sellers should be pricing to stay ahead of
the market and can't afford to rely on what
the home was valued at several months ago,"
added Dilzell.
"Our REALTOR® had a full understanding of
today's market and how people are shopping,
and had sound reasoning for why the price we
sold our home for would be beneficial, when
I originally thought it was worth more. We
had unbelievable traffic flow, several
return viewings, and accepted a price we
were comfortable with in 26 days," said Mary
Lee Hesselgrave, who sold her home in
Hardyston this summer.
Get creative when marketing your home.
The marketing of homes has shifted more
towards new technology, rather than only
putting an ad in the local newspaper.
Sellers should be open to innovative and
creative marketing techniques recommended by
their REALTOR®. By considering virtual home
tours and concentrating on well-lit, high
quality digital photos for website listings
can give your home a chance to be noticed in
front of the increasing majority of buyers
who turn to Internet listings first. Ask
your REALTOR® about other ways to increase
awareness about your home in places where
buyers will notice.
Staging helps edge out competition.
Buyers seek the least expensive home in the
best neighborhood they can afford. The goal
in staging a home is to maximize space and
provide a clean slate for prospective buyers
to make the home their own. Cosmetic
improvements such as paint, wallpaper, and
landscaping, are good investments to make a
home generally more appealing. Mechanical
repairs done to ensure that all systems and
appliances are in good working condition are
required to get a top price. REALTORS®, who
see numerous homes, can provide suggestions
that are consistent with local market
trends. Simple tips such as storing away
family photos or personalized decor,
maximizing counter space and clearing items
away from windows can be done in just a few
days. Home staging professionals can even be
enlisted to help get creative with
renovations and changes.
"We took our personal items, put them in
storage and completely staged the house,"
said Cindy Sauber, who sold her home in West
Windsor. "If we were going to sell, we knew
we had to follow certain rules," she said.
Stimulate buyer curiosity with curb
appeal. Putting work into the inside of
a home is of no use if prospective buyers
don't want to enter it. Curb appeal is the
first chance to make a good impression. Curb
appeal sells 49 percent of all houses,
whether you have a townhouse, condo or
detached home, according to the National
Association of REALTORS®. Replacing light
fixtures, removing dead leaves and ensuring
snow is shoveled neatly from walkways and
driveways are easy tasks that help entice a
buyer into the home during the winter
months. If a seller is unsure of what buyers
are looking for, asking friends and
neighbors for a fresh perspective can help
them evaluate what looks old or run-down.
Owners can get a "big picture" view by
taking a photo from across the street.
NJAR® is encouraging New Jersey residents to
Get the REAL StorySM on real estate in New
Jersey with a public education campaign that
features an informational website and an
advertising campaign that also features real
stories from recent buyers and sellers. For
more information on the campaign, or simply
to Get the REAL StorySM on real estate in
New Jersey, visit
www.REALstoryNJ.com.
The New Jersey Association of REALTORS®,
with approximately 53,000 REALTOR® and
REALTOR-ASSOCIATE® members, is one of the
largest trade organizations in the state.
NJAR®'s membership is comprised of real
estate professionals who subscribe to a
strict code of ethics and are members of the
national and local REALTOR® organizations.
As the leading advocate for the real estate
industry and private property rights in New
Jersey, NJAR® is committed to protecting the
dream of homeownership. For more
information, please visit
www.njar.com.
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