Selling a home in Columbia SC is both an art and a science. Most real estate professionals say the most stressful conversations with their clients involve the asking price and the way the home is presented for sale. This article will focus more on the factors that make the biggest impact on prospective purchasers.
Selling a Home in Columbia SC – Following “Stage Coaches”
For most home sellers, personal possessions are important parts of who they are and what their home means to them. To potential buyers, however, they mean virtually nothing. They’re not interested in your children’s photos, your bowling trophies or the handmade quilt your late grandmother gave you several Christmases ago. Real estate agents worth their salt advise their sellers to tidy up, clean out and pack up most personal items. The reason? Prospective home owners need to clearly imagine themselves and their family in every room in your house. If they look around and see nothing but constant reminders of the seller and their family, they may quickly lose interest. In addition, people’s tastes vary – what you like may not necessarily represent the likes of potential buyers.
That's one reason selling a home in Columbia SC often includes staging the home for the best presentation possible. Today, home staging is more popular than ever – even in a seller’s market. According to a leading national real estate sales firm, staged homes spend half as much time on the market than non-staged homes. In addition, homes that are staged sell for over 6% above the asking price.
Staging can also help the buyers envision how the house will appear once they move in, even though the majority of people don’t have professional decorators at their disposal. Savvy agents refer to staging as being responsible for “aspirational selling.” Buyers imagine living in the house the way it’s set up and decorated for the best sales presentation.
One real estate agent – who is obviously bullish on home staging – says staging homes for sale is a key to her success. “When I put a house on the market, it’s going to look nice. It benefits both me and the seller. They refer me to other people, so it’s an investment I make in my business.” The investment in home staging can range anywhere from $1,000 to $5,000 depending on the home’s size and whether or not furniture needs to be replaced. Renovation and staging websites often include rental items like furniture, furnishings, rugs, paint, window treatments, accessories and other props.
Selling a Home in Columbia SC – Online Staging
Real estate agents who coach their sellers into staging their homes readily admit one of the advantages of selling a home in Columbia SC by staging is for taking photographs as much as anything else. Even though there will be dozens of people walking through the home, an even larger number of prospects routinely search online, viewing interior photos of the homes they plan to visit. Attractive photos will draw more buyers.
Most real estate professionals say a common problem in trying to stage a home the seller is currently occupying is getting them to understand the philosophy and purpose of staging. Diplomacy is an important attribute of agents dealing with sellers during the “hand-holding” phase. In addition, a key to staging is to give small rooms the appearance of being larger than they really are. That way, buyers start the mental process of envisioning where their furniture – or new furniture – can be placed to best showcase the rooms in the home.
As an example, an eat-in kitchen would naturally have a table in it. A smaller-sized bedroom that appears to be too small for a bed should have a bed in the room. Professional stagers work to position the home to sell to the prospective purchaser. A young couple with children, for example, needs to be able to imagine the rooms as they will best appeal to them, using the type furnishings they can envision. That often involves removing antiques or artwork from an older seller’s home. It may also mean depersonalizing the home so the potential buyers don’t identify too much with the existing homeowners.
Some home stagers go so far as to re-organize closets and kitchen cabinets in an effort to remove any items that may dissuade prospective buyers. While not all rooms require staging, it’s always best to keep all rooms clean and uncluttered. Sometimes giving the potential home buyers an “empty canvas” to use their imagination is a good idea.
One last thing about selling a home in Columbia SC : There are no formal or steadfast rules for what should and shouldn’t occur during the home staging. However, as in most personal or business relationships, first impressions are important. As an example, the front porch, doorway, foyer or entryway are all equally important. Make sure they are appealing to visitors that enter the home with a passing interest and leave it with the home high on their list.
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Selling a Columbia SC area home that is currently occupied by a tenant can be a bit of a challenge, as the tenants don’t always share the same motivation as their landlords – consequently, they may fail to keep the home looking neat and attractive to impress potential buyers.
So what can landlords do to prevent problems?
First, landlords should never attempt to deceive tenants in the first place, and so they should make it absolutely clear that they intend to list the home once the local market picks up again.
Landlords can also offer their tenants some kind of concession in return for their cooperation – for example, in return for the tenant keeping the home looking neat tidy (unlike the photo!) while it’s listed, they could be given a 10% discount on the rent. However, landlords would need to clearly communicate their expectations regarding cleanliness, like making sure the bed is always made up in the morning, and ensuring dirty dishes aren’t left in the sink for prospective buyers to see when they come to see the property.
Setting established hours for buyers to view the property will also do a lot to get tenants on your side.
Landlords need to keep in mind they don’t usually get a second chance, and so it pays to keep tenants on their side, especially when a property is first listed for sale.
If you’re a Columbia SC area landlord and would like more information and tips on what you should do if your property has a tenant and you’re wanting to sell, contact us. We’ll be happy to give you additional tips.
In today’s Columbia SC real estate market, we are seeing more and more properties for sale flooding the market, but fewer and fewer buyers for these properties. The result is that house prices keep going down every month.
As a result, it has become tougher and tougher for people to sell their properties. You find that you get little to no interest when you try to sell your house. Let’s look at how to generate interest by using owner financing, and probably selling it fast or even for a higher price than you would otherwise sell it.
What is Owner Financing?
Owner financing is when the seller agrees to become the bank for part or all of the value of a particular property. As the seller, you may own the property free and clear, or you may still have a mortgage on the property.
Whatever the case, it is advisable for you to seek help on how to structure and close your owner financed deal. Make sure you talk to your CPA and real estate attorney.
The buyer usually pays a down payment once the seller agrees to owner finance the property. The seller then receives monthly payments just like a bank.
What Makes Owner Financing Attractive to Buyers?
Why should a buyer choose your property when there are numerous other properties in the neighborhood, perhaps even selling for a lower price?
Before a buyer ever comes to see your house, they will have to be attracted to it by the terms you have set for the sale. Seller financing attracts a lot of attention for your property.
With the banks and mortgage companies tightening their lending procedures, most people can no longer qualify for a conventional mortgage. Most people’s credit has also been bruised during the down economy. Many of these buyers can only buy real estate through owner financing.
When you are selling your house, you end up generating a lot of interest, selling faster, or even selling at a higher price by using seller financing.
Your listing price should be estimated from comparable sales in the area. But it is important to be careful which properties you use as comparable sales. Owner financed properties usually carry a higher price than others and this price may therefore not reflect the true value of similar properties.
Columbia SC real estate sellers who adapt to changing market trends, like offering owner financing, often end up selling quicker even where others cannot sell at all.