Buyers Have Plenty to Think About When It Comes To Your Home
When getting ready to sell your home to a La Grange-bound buyer, the most common thing is to contact a local Realtor® to come and give you an analysis for how to best price the property. After a fair share of questions about your home’s history, layout, materials, and more, you’ll be shown houses that are comparable to your own. They’ll look and “feel” similar, and they’ll have a price attached to them. You’ll look through the information, photos and all, and a picture will begin to form in your mind about where your own home stands by comparison.
On the other side of the transaction is your home’s soon-to-be new owner. As buyers have become more savvy in recent years–largely due to internet resources—they’ve also gathered a few cautionary tales from across the web. Yes, there are some extenuating circumstances that people have had to deal with, unfortunately, stories and well-intended warnings from loved ones bring a certain amount of trepidation into the process with the buyer. Let’s address what some of those hang ups are, so you’re not caught off guard when they arise.
La Grange Buyers Are Looking For Reasons Not to Buy Your Home
When you’re getting ready to sell, it’s best to be prepared. Homeowners are rarely introduced to the mindset of their buyer prior to the negotiation process. According to Nancy Miller of Coldwell Banker Residential Brokerage in La Grange, the value of the average home is partially at the mercy of the market—what buyers are willing to pay—so it’s helpful to take into consideration what your home’s potential buyer might be thinking. Now yes, of course you can’t control what your buyer has on their mind, but it helps to be aware of the possibilities. Essentially, it comes down to this. Buyers are looking for any reason to eliminate your home from their list. With the help of a Realtor like Nancy Miller, you can navigate around these landmines.
Here are what Nancy considers to be the top issues:
OUT-OF-DATE: your home looks like it was remodeled 10+ years ago.
Today’s buyers—yes, Millennials often fall into the mold here—want everything done and up-to-date. Even if your home was beautifully remodeled, if it’s been a little while, consider some “touch up”. Replacing drawer knobs to bring in today’s style. Paint an accent color on a wall or two of the main rooms to bring in modern décor touches. Spruce up your main entrance both inside and immediately outside the door to wow them from the start. All of these can be relatively inexpensive, and can all have a tremendous impact.
STAGNATION: your home has been on the market too long, so there must be something wrong.
Buyers often perceive a property that’s been on the market for awhile to have something wrong that they just can’t see. If you’ve been in the position of having had previous offers that didn’t come together, be open about that. Sometimes a quick explanation (without giving away confidential information) can help settle the nerves.
A special note: pay attention to how long homes are taking to sell on average in your immediate market. It may be that it’s just not your time yet.
VISION: your home is hard to imagine living in.
Simply put, many buyers have a hard time imagining themselves living somewhere else. While this is out of your control directly, you can assist your buyer in getting over this hurdle too. Nancy Miller reminds home sellers that while it’s your house currently, you need to help your buyer “see” themselves living there enough to make them want to write an offer.
Here are a few simple suggestions:
- Reduce the amount of personal photos and personal “flare” decorations in your home. Keep a few around for your own enjoyment—and so your walls don’t go bare—but limit them slightly. Give your buyer space to imagine their own decorations on the walls. You’re taking away the feeling of “home” from yourself, but rather, consider it the beginning of packing for your own move. Too many personal items can make it hard for a buyer to get past, leaving them feeling like they’re visiting someone else’s home instead of buying one for themselves.
- Furniture placement can make or break a room, especially when you’re inviting people to tour through your home. Consider moving furniture within your home in order to create ease of walkthrough flow rather than utility. Create spaces that buyers want to rest in. Even going so far as to creating cozy corners if your floor plan allows for it.
- Nancy suggests that if your home will be vacant before you put it up for sale, consider having professional photos taken before moving your furniture and decorations. Buyers often have a hard time imagining where the furniture goes. Having photos online and printed in each empty room will help their imaginations along.
Despite technological advances, people still buy homes for the same old reasons.
LOCATION, LOCATION and LOCATION: your home either is or is not in the right place.
While most people would tell you that this is not something that can be overcome, Nancy Miller has a different take:
“Location is only an issue for someone who doesn’t want to be where the property is located. Yes, if they want quiet and it’s close to a train, it’s probably a bad fit. But if they commute into Chicago on the Metra train for work, it might be the perfect location for that person. The key is to appeal to the people that are the right fit for the property when you market the home. You only need one buyer to sell a home.”
At the end of the day, when buyers are looking at your home, they want to know that once Spring comes and the home starts to breathe, that everything is as it seems. As a seller, heading into a La Grange seller’s market in 2018, all you can do is know how to respond when those cautionary tales bring questions to buyers’ minds.
Be reasonable when pricing your home, and turn to Nancy Miller’s excellent market knowledge and resources to guide you on getting a fair price when selling your home. To learn more about Nancy’s approach to real estate, and to begin the process of selling or buying your home, contact Nancy today.