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10 common home presentation mistakes

Though your house may look and feel good to you, it won’t necessarily to others, regardless of what your friends tell you. Here’s 10 of the most common blunders people make when presenting their home for the market.

Sometimes it’s the details that let you down, other times, it’s so obvious you simply can’t see it yourself.

Remember it’s essential to appeal to the widest possible cross-section of your target market, and don’t fall into these simple, very common traps.

1. No house number  
This seems like such a minor detail, but it’s essential!  Not only should you make sure you have a house number, it should be easily visible, in good repair and in keeping with the feel of the home.

The last thing you want is a buyer’s experience of your property starting in frustration because they were unable to locate it.

2. Pet smells
Research tells us that one of the biggest factors that impact negatively on a potential buyer are pet smells and mess.  Many property owners do work very hard on removing all smells and evidence of furry friends, however it is difficult to completely eradicate when you are accustomed to the smell on a daily basis.  Ideally you need to get a friend who does not own pets to inspect your property and be brutally honest with you

3. Too much furniture
It is essential to remember that when a home is open for inspection, in many case there are multiple parties viewing the property at any one time.Too much furniture will make a room feel smaller than it is. Space furniture out, and remove it temporarily if you have to.  Allow for lots of foot traffic, good flow through the house for potential buyers, and walk common paths to check for obstacles.

4. Polarising linen
In a bedroom, the bed is generally the largest piece of furniture and the focal point of the space. Hence the linen and the dressing of the bed can have a huge impact on the way people feel about that room.  Dress your beds with crisp clean white linen and perhaps a throw to add a touch of luxury. Always ensure the beds are made well.

5. Heavy window coverings
Heavy window coverage can turn buyers off. Leaving heavy window coverings in place can make a room feel dark and cluttered.  I often see older homes with multiple heavy drapes that contribute directly to making the room feel small, dark and cold. In these cases they have to go, if the window condition and outlook permits.  Getting the balance right between privacy, style, mood and light is important.

 

6. Cleanliness
Another huge mistake by sellers is assuming that the buyers can look past an unswept floor or dirty bathroom.  When the mess and dirt is not their own, many buyers find it to be an extreme turn-off.  Remember you’re used to the way your property looks, but others will be seeing it for the very first time. You may have long since stopped seeing how much dirt is around. Get someone other than yourself to give it a once over.  I recommend brilliant cleaners that get your home sparkling so its easy to keep on top of during our inspections.  An unclean home will cost you substantial amount of money.

7. Selling a house empty
Empty rooms appear smaller and are uninviting to the potential buyer.  The only thing you want to leave for the buyer to imagine is themselves in the home. Take control over how your property is viewed and perceived and add thought starters to help buyers see themselves there, living the life they want.  Units which I have sold, and the owners have paid to have styled, have achieved over $15,000 more due to styling than when they were empty. Crazy but true.

 

8. Over-decluttering
There is a fine line between a well staged home and a home that has been decluttered to the point of being vast and empty.  Once the line has been crossed, the space is no longer inviting and appealing, instead it is cold and sterile.  We’re all working so hard to declutter, that sometimes we can take it too far. Again, get a hand from someone who can cast an objective eye.  You want your property to portray an ideal lifestyle that a buyer aspires to, and that includes a bit of heart and soul.  The rule of thumb is to clear bathroom benches and kitchen work tops from all clutter.

9. Roadside collections and rubbish runs
Roadside collections are a wonderful service and really come in handy when you are cleaning up and preparing your property for sale, however it is essential that the roadside collection period does not overlap in any way with the property going on the market.  The last thing potential buyers should have to see or navigate is mountains of rubbish on your footpath or near to your property.  Organise it well clear of inspections and manage rubbish disposal so the smell or sight never hits a newcomer.  This is exceptionally important.  If you live in units or your bin has a bad smell, it would be wise to pay a wheelie bin cleaner company to clean your bins directly after they’ve been emptied.  You may find your neighbours may be happy to chip in with this, as it is inexpensive and will cost you money of your sale price if they have a terrible odour, which let’s be honest , they do in our Aussie heat.  It can cost as little as $5 per bin!

10. Setting the table
Setting the table with a full dinner setting passes over that fine line of styled and goes into the overstaged look.  It runs the risk of turning the buyer off and the table setting being the most memorable aspect of the property; certainly not what a successfully staged home wants!  There are so many more subtle ways to create a welcoming and “lived in” feel. Potential buyers shouldn’t feel pressure to take their seats . An overly formal dining setting can look a bit ridiculous at an open house.  However an informal dining room setting sets the scene to create a wonderful stylish relaxed feel.  I like to set it up for breakfast, with some orange juice and bread roll and cheeses etc.  They can remain on a platter and be used weekly during open homes – remember they are there to stage not to eat!

 

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What is the “Fair Market Value” of my home?

WHAT IS THE “FAIR MARKET VALUE” OF MY HOME?

When selling our home we all want the best price possible, while the buyer is usually after the best deal they can get. 

However, in the end most houses sell for what I would call fair market value — the price a willing buyer will pay, and a keen seller will accept, given that neither the buyer or seller is under pressure to close the deal. 

Of course, sometimes buyers get a great deal and at other times they overpay.

In both instances this is usually because emotions come into play

Pressure, or motivation comes from life changes such as divorce, a sudden job transfer, difficulty meeting mortgage repayments or a death in the family can compel either the buyer or seller to act quickly.

But getting back to fair market value — the price you’re most likely to achieve; let’s get one thing clear…

It may not always be “fair” to you.

It may not be what you call “equitable” because fair market value is impartial, it takes no sides and it doesn’t care about what you need or what you want.

 

LET’S LOOK AT IT THIS WAY…

Suppose there are two identical homes next door to each other in the same street. Same Houses

One was purchased by Pat and Ken 20 years ago.

They paid $200,000 for their home and over time have slowly paid off their mortgage.

Their neighbours, James and Katie bought their home five years ago and paid $500,000 for it.

During the last few years the value of their property remained fairly static as James and Katie bought in a suburb where there was an abundance of new properties.

 

However, they have done some improvements to the home and even put a swimming pool in the backyard. 

Both couples now decide to put their homes on the market.

Because they are both very similar, almost identical houses — the same size, the same age, the same condition, the same location — other than the improvements James and Katie made, you’d expect they’d have similar fair market value.

Under the circumstances, the fact that James and Katie paid a lot more than Pat and Ken doesn’t really matter.

Even though they put a swimming pool in, this won’t necessarily increase the value of their home by the $50,000 they paid to have it installed.

In fact, some buyers won’t even be interested in looking at their house because they don’t want the extra maintenance that comes with an in ground pool.

 

So the fair market value of their home may be $5,000 to $15,000 more than Pat and Ken’s because of the pool, but in the eyes of many buyers it in fact won’t be worth any extra at all. Market Value Of The House

When both couples sell their homes, Pat and Ken will walk away with a pocket full of money because they’ve paid off their mortgage, allowing them to go off and buy their next home.

Whereas in the case of James and Katie, they’ll probably only have a little left over after repaying their mortgage because house values haven’t increased all that much since they bought their home.

So now you can see why we say that despite the term “fair market value”, it’s not always fair or equitable to you — it’s simply unbiased.

In today’s market, your house is worth what the current market deems it to be worth — not what it’s worth to you in ‘your’ opinion.

 

 

The value of your home is not related to: 

  1. How much you paid for it.
  2. How much you owe on your home mortgage.
  3. The renovations you have done to your home. It’s the things that you can’t easily change or enhance that add value to your property — things like north facing windows and sunshine all day or proximity to the beach or the water.
  4. How much you love your home.

Instead its value will depend on factors such as its location, the neighbourhood, its age and condition and the number of other comparable properties for sale.

A great way to determine the fair market value of your home is to get a comparable market analysis from Jenny McEvoy Real Estate on 0478663329 who is your local expert and who will compare your home to all the properties in the same neighbourhood as yours that sold in the past six or 12 months and that were approximately the same age, size and condition as your house.

This article first appeared on Homely.com.au and was reposted by Michael Yardney