How to Sell Your Home in a Down Market

How to Sell Your Home in a Down Market 

By:  Luellen Kirchner

Key Associates

www.keyassociates.biz

Staging!  Staging!  Staging!   Now, as a professional home stager and interior decorator, why would I say anything else, right?  But, truth is, it’s exactly because of my training and experience in staging and my real estate background that I do know, beyond a doubt, that staging is vital to getting your home sold as quickly and profitably as possible - - especially in today’s economy.  

Everyone knows the current real estate market is pretty dismal.  There are an excessive number of homes on the market, yet buyer numbers are limited.  And, while falling real estate prices are an incentive for many buyers, more stringent lending practices make obtaining a mortgage far more difficult and time consuming than in past.  The current economy has added these and many other challenging dynamics to the real estate market.

So, what can you do to sell your home during these times?    

Well, first and foremost, before you list it, stage it!   While appropriate pricing is also critical, the advantages of preparing and staging your home are numerous.   All manner of statistics have been gathered by real estate organizations, staging associations and even the U.S. Dept. of Housing and Urban Development (HUD) that support home staging and its influence on increasing profits and decreasing market time.  

Staging is all about maximizing the positives and minimizing the negatives.  It’s about showing a property to its best possible advantage, thereby increasing its value.   

Professional staging usually begins with an in-home evaluation which encompasses a detailed review of a property - - from front curb to back fence and beyond.  While you may have to invest a few hundred dollars for a written evaluation, it will likely be the best investment you could make in terms of selling your home in today’s market.   Most evaluations will detail problem areas and provide recommendations on economically and practically eliminating or solving the problems and making your house appeal to a broad range of buyers.   Standard recommendations often include cleaning and decluttering; depersonalizing and removing the majority of family photographs, collections and excess furnishings; and insuring that any damages around the house have been repaired.  Additional advice may include such things as arranging furniture to maximize space and flow, refreshing paint or sprucing up an entry to make it more appealing, or adding colorful plantings to increase curb appeal.   

Sellers need to be aware they are facing a buyers market and today’s buyers are sophisticated.  They know there’s a huge selection of homes out there and they’re looking for value.   Following the advice of a home staging professional is the most practical and sure way of positioning your house to compete favorably with the competition.  Professional home stagers are familiar with local market conditions, they know what buyers in their area are looking for and they are trained and experienced in making the most of a property.   Seeking the advice of a professional stager or staging company is the best way to arm yourself against today’ economy and increase your chances of a speedy and profitable sale.   

Lue Kirchner is Executive Director of Key Associates, a service company located in Flat Rock, NC.  Key Associates provides home management, move management, home staging and interior decorating services for residents of the Asheville & Greenville areas of the Carolinas.