Chestermere and Strathmore Realtor

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Chapter 7 Selling Your Home in a Divorce

Selling your home in a Divorce

Chapter 7
7 STAGING WITH PURPOSE

This strategy is effective in any market.

No matter what type of home property is being listed, this approach works.

It applies equally to single-family houses, apartments, townhouses, and condos.

Agents and sellers using this tactic have a greater chance of selling the property for more money.

Staging is the act of sprucing up a home to make it as visually appealing as possible.

It does take extra time and work, but the payoff is well worth the effort Staging is one of the most effective marketing tools to sell homes for more money.

In today's competitive real estate market, selling your home requires hard work and dedication.

If you are a motivated seller, this is where you can bring your home to the marketing forefront.

Creating an eye-appealing home, i.e., staging, one potential buyers can envision living in, is the best investment of your time and effort.

Staging your home will:

•Distinguish it from the competition

•Attract top dollars from home buyers

•Give you a visual edge over the competition

How powerful is staging when selling a home?

Consider these results from surveys conducted by Coldwell Banker and the National Association of Realtors®.

•Staged homes spent 50% less time on the market than nonstaged homes.

•Staged homes sold for more than 6% above asking price.

•A staging investment of 1% to 3% of asking price generates a return on investment of between 8% and 10%.

•Homes staged prior to listing sold 79% faster than homes staged after listing.

A real estate agent discovered the secret strategy by accident when he met a wealthy executive who wanted to sell his condo.

He was willing to hire the agent but on one condition.

The real estate agent must agree to use the man's secret method to sell the condo.

The agent was naturally skeptical, but he knew selling the condo would bring a handsome commission.

Conversely, if it did not work out their agreement would expire, and the agent could walkaway.

The real estate agent decided to give it a shot and listed the condo.

They priced the condo at $954,900 even though two similar condos in the same complex were listed for $879,000 and $839,000.

The agent was not confident that the condo would sell for the $954,900 price.

On the other hand, the owner's secret strategy was intriguing. The condo went on the market, and the agent waited to see what would happen.

He began to doubt the strategy as he was showing the condo regularly, but without any offers.

People were walking through and leaving.

To make matters worse, most visiting agents thought the condo was overpriced.

They could not understand why the owner was asking for so much money.

After all, a similar condo around the corner was available for $100,000 less!

They counseled their buyers to keep looking and left without making offers.

The condo had no special features that set it apart from the others.

This unit was not a penthouse. It was on the sixth floor of a 10-story complex.

The other agents were correct to say the price was too high.

Still, the owner stood firm Four months and many showings later, a buyer walked in who loved the condo the moment he stepped through the door.

He made an offer before he finished the tour.

The agent was so excited that he rushed to call the owner.


The owner accepted the man's offer and sold close to listing price.

The condo successfully sold for $949,000, which was a record high!

The strategy they used was a huge success.

Naturally, the real estate agent was excited, and the owner was thrilled he had made a substantial profit.

The price was $110,000 higher than a condo that had sold two and a half months earlier.

The higher price was not due to the current market.

The next unit that sold (28 days later) went for $835,000.

It was a less desirable second-floor unit.

Five months later, another similar condo sold for $850,000.

What is the secret strategy to selling a home for more money?

What was the special request the wealthy home seller had for his agent?

It was simple.

He insisted that the condo be staged.

The successful real estate agent knew he was onto something.

He began researching everything he could find on staging's impact on the selling prices of homes.

He collected his findings and shared the tactics the wealthy seller had taught him.

He included all the examples he had found as case studies.

Many agents already encouraged sellers to stage their homes.

However, few of them knew of the following case study proving staging is an effective method of selling your home for more money.

The following is an excerpt from his report, with one of the case studies he recorded.

Staging - vs - Non-Staged Case Study & Report

Dear Reader,

I wanted to give you the most convincing proof possible.

Many people find it hard to believe the simple act of staging helps one home sell for more than another similar home.

In my research, I looked for examples of similar houses being sold for differing amounts of money where only one of the two houses were staged.

The clearest example I could find was in the case of these two listings.

This development has 200 equivalent townhouses.

Every single townhome in the neighborhood is three stories with three bedrooms and three bathrooms.

Every single unit has the same floor plan.

I looked for two sales there, and found these:

•4438 Capital Dome Drive sold on August 26.

•4456 Capital Dome Drive (5 doors down) sold on July 26, for 40,000 dollars less.

I visited this neighborhood, and I am familiar with these properties.

You could not find a better example of two identical properties that sold for different prices.

The details show these two homes are identical in every substantial way:

•The lots the units sit on are identical as far as the desirableness of the location.

•Both units had the same kitchen plan with the same cabinets and a tile floor.

•Both units had nice hardwood floors in the living room and carpeted bedrooms.

Every important detail of these two townhouses was identical. I studied every aspect of these sales to find what made the difference.

There are two reasons one home sold for $40,000 more than the other:

•Townhouse #4438 was professionally staged, giving it a more appealing appearance.

•The agent selling #4438 took higher quality, more attractive photos of the home.

Those two seemingly small actions made the $40,000 difference!

The buyers of #4438 made a higher offer because the agent presented the home in a more appealing and attractive way.

*B Curry, Realtor.

Used with the permission of the author.

--End of staging report—

What Do Buyers Want?

Most home shoppers are looking for a home that represents a fresh start.

If they can envision living in your home, it will be easier to sell.

Think of it as interior curb appeal, where their eyes are drawn to the inviting space and light as well as the unique features of your home.

Each room in your home needs a purpose or a suggested use.

Each room needs to feel new to reflect ease of upkeep.

By painting, updating fixtures, and eliminating stained carpets and popcorn ceilings, you can improve the saleabilityof your home by 75%!

High-end replacements are not necessary, your goal is to create a clean, simple, and contemporary feel to your home.

Neutralize for Eye Appeal
In the process of staging your home, you must remove distractions so the home shopper can imagine living in each space of your house.

One of the most effective ways to appeal to the buyer is to paint every room in a neutral color.

A wide range of neutrals from soft grays to warm beiges is readily available at any home improvement center.

Dark or bold wall colors can dampen interest in a home if used in large spaces but can be used effectively as accent colors.

Painting the interior not only gives newness to your home, but it can also make it appear more spacious.

By using the same color in visibly adjacent rooms, your house will have a seamless look and uninterrupted flow.

You can also create the illusion of more space by changing your window coverings to match the walls.

Focus on Furniture - Less Is More

Staging is the art of creating a visibly inviting space.

Like any homeowner, you will take your furniture with you when you move out of your home.

Until then, your personal taste and style will be showcased while your home is on the market.

In upcoming chapters, you will learn about depersonalizing your home, but first, we'll examine the concept of creating space by keeping furniture to a minimum.

Buyers are attracted to homes flooded with light and roominess.

They are equally repelled by homes filled with cramped and unnavigable spaces.

Remove all unnecessary furniture from your living spaces.


Store them elsewhere while your home is on the market.

Home shoppers want to walk through your home without obstacles in the way.

Space and storage are high on the list of buyers' requests, so every area of your home should feel spacious.

All closets, pantries, and storage rooms must be free from clutter and look organized.

By pruning back on what fills up space and relegating it to a storage unit, your home will create interest by showcasing space and storage.

Furniture placement is an easy way to highlight unique features of your home.

A grouping of chairs in front of a fireplace, for example, will draw attention to it.

Avoid pushing the furniture close to the walls.

Reposition easy chairs into floating group spaces.

Every room has to be staged to show function as well.

An empty room used for overflow of boxes, possessions, or unwanted items should be transformed into a usable, desirable space.

Clean it out and create an office space with a desk and chair or a reading room with a lamp and recliner.

If you have exercise equipment, feature it as a workout room.

Furniture pieces such as tables can be taken from the living room for use in other rooms.

Every room should have a purpose and be user-friendly.

Make your home's traffic flow obvious so buyers can browse each room without effort.

Emotional Cues

Once every room has a purpose, creating atmosphere is key to making your home desirable.

Decorative touches like greenery, flowers, and lit candles can give life to your home.

Wall art creatively hung will frame rooms.

A bedroom that has one bed with one pillow and blanket will make the room seem bare and lonely.

By adding a table with decor and a rocking chair draped with a lap robe, you heighten its appeal.

Make sure to add elements of the same color, shape, or texture to unify the room Any splashes of bold color should appear in the wall art or any place you want to draw attention.

Learn to strike a balance between staging and living in your home.

You can seasonally decorate your home without dashing your appeal.

The main goal is to keep your home clean and free of "stuff' that distracts would-be buyers.

Even simple things can make a big impact on the final sale price of a home.

Staging done well is one of those things!

You have two options for staging a home:

Option 1: Do it yourself.

Option 2: Hire a professional home stager.

If you are considering hiring someone to handle your staging, contact me for a list of references.

I'd be happy to share recommendations and send you information on stagers who will do a good job for you.

In the next few chapters, you will learn how to prepare for staging.

Remember, first impressions are important.

The time and effort you put into creating great ones will pay off when you sell your home quickly and for more money!

 

 

Selling your home in a Divorce

Chapter 7
7 STAGING WITH PURPOSE

This strategy is effective in any market.

No matter what type of home property is being listed, this approach works.

It applies equally to single-family houses, apartments, townhouses, and condos.

Agents and sellers using this tactic have a greater chance of selling the property for more money.

Staging is the act of sprucing up a home to make it as visually appealing as possible.

It does take extra time and work, but the payoff is well worth the effort Staging is one of the most effective marketing tools to sell homes for more money.

In today's competitive real estate market, selling your home requires hard work and dedication.

If you are a motivated seller, this is where you can bring your home to the marketing forefront.

Creating an eye-appealing home, i.e., staging, one potential buyers can envision living in, is the best investment of your time and effort.

Staging your home will:

•Distinguish it from the competition

•Attract top dollars from home buyers

•Give you a visual edge over the competition

How powerful is staging when selling a home?

Consider these results from surveys conducted by Coldwell Banker and the National Association of Realtors®.

•Staged homes spent 50% less time on the market than nonstaged homes.

•Staged homes sold for more than 6% above asking price.

•A staging investment of 1% to 3% of asking price generates a return on investment of between 8% and 10%.

•Homes staged prior to listing sold 79% faster than homes staged after listing.

A real estate agent discovered the secret strategy by accident when he met a wealthy executive who wanted to sell his condo.

He was willing to hire the agent but on one condition.

The real estate agent must agree to use the man's secret method to sell the condo.

The agent was naturally skeptical, but he knew selling the condo would bring a handsome commission.

Conversely, if it did not work out their agreement would expire, and the agent could walkaway.

The real estate agent decided to give it a shot and listed the condo.

They priced the condo at $954,900 even though two similar condos in the same complex were listed for $879,000 and $839,000.

The agent was not confident that the condo would sell for the $954,900 price.

On the other hand, the owner's secret strategy was intriguing. The condo went on the market, and the agent waited to see what would happen.

He began to doubt the strategy as he was showing the condo regularly, but without any offers.

People were walking through and leaving.

To make matters worse, most visiting agents thought the condo was overpriced.

They could not understand why the owner was asking for so much money.

After all, a similar condo around the corner was available for $100,000 less!

They counseled their buyers to keep looking and left without making offers.

The condo had no special features that set it apart from the others.

This unit was not a penthouse. It was on the sixth floor of a 10-story complex.

The other agents were correct to say the price was too high.

Still, the owner stood firm Four months and many showings later, a buyer walked in who loved the condo the moment he stepped through the door.

He made an offer before he finished the tour.

The agent was so excited that he rushed to call the owner.


The owner accepted the man's offer and sold close to listing price.

The condo successfully sold for $949,000, which was a record high!

The strategy they used was a huge success.

Naturally, the real estate agent was excited, and the owner was thrilled he had made a substantial profit.

The price was $110,000 higher than a condo that had sold two and a half months earlier.

The higher price was not due to the current market.

The next unit that sold (28 days later) went for $835,000.

It was a less desirable second-floor unit.

Five months later, another similar condo sold for $850,000.

What is the secret strategy to selling a home for more money?

What was the special request the wealthy home seller had for his agent?

It was simple.

He insisted that the condo be staged.

The successful real estate agent knew he was onto something.

He began researching everything he could find on staging's impact on the selling prices of homes.

He collected his findings and shared the tactics the wealthy seller had taught him.

He included all the examples he had found as case studies.

Many agents already encouraged sellers to stage their homes.

However, few of them knew of the following case study proving staging is an effective method of selling your home for more money.

The following is an excerpt from his report, with one of the case studies he recorded.

Staging - vs - Non-Staged Case Study & Report

Dear Reader,

I wanted to give you the most convincing proof possible.

Many people find it hard to believe the simple act of staging helps one home sell for more than another similar home.

In my research, I looked for examples of similar houses being sold for differing amounts of money where only one of the two houses were staged.

The clearest example I could find was in the case of these two listings.

This development has 200 equivalent townhouses.

Every single townhome in the neighborhood is three stories with three bedrooms and three bathrooms.

Every single unit has the same floor plan.

I looked for two sales there, and found these:

•4438 Capital Dome Drive sold on August 26.

•4456 Capital Dome Drive (5 doors down) sold on July 26, for 40,000 dollars less.

I visited this neighborhood, and I am familiar with these properties.

You could not find a better example of two identical properties that sold for different prices.

The details show these two homes are identical in every substantial way:

•The lots the units sit on are identical as far as the desirableness of the location.

•Both units had the same kitchen plan with the same cabinets and a tile floor.

•Both units had nice hardwood floors in the living room and carpeted bedrooms.

Every important detail of these two townhouses was identical. I studied every aspect of these sales to find what made the difference.

There are two reasons one home sold for $40,000 more than the other:

•Townhouse #4438 was professionally staged, giving it a more appealing appearance.

•The agent selling #4438 took higher quality, more attractive photos of the home.

Those two seemingly small actions made the $40,000 difference!

The buyers of #4438 made a higher offer because the agent presented the home in a more appealing and attractive way.

*B Curry, Realtor.

Used with the permission of the author.

--End of staging report—

What Do Buyers Want?

Most home shoppers are looking for a home that represents a fresh start.

If they can envision living in your home, it will be easier to sell.

Think of it as interior curb appeal, where their eyes are drawn to the inviting space and light as well as the unique features of your home.

Each room in your home needs a purpose or a suggested use.

Each room needs to feel new to reflect ease of upkeep.

By painting, updating fixtures, and eliminating stained carpets and popcorn ceilings, you can improve the saleabilityof your home by 75%!

High-end replacements are not necessary, your goal is to create a clean, simple, and contemporary feel to your home.

Neutralize for Eye Appeal
In the process of staging your home, you must remove distractions so the home shopper can imagine living in each space of your house.

One of the most effective ways to appeal to the buyer is to paint every room in a neutral color.

A wide range of neutrals from soft grays to warm beiges is readily available at any home improvement center.

Dark or bold wall colors can dampen interest in a home if used in large spaces but can be used effectively as accent colors.

Painting the interior not only gives newness to your home, but it can also make it appear more spacious.

By using the same color in visibly adjacent rooms, your house will have a seamless look and uninterrupted flow.

You can also create the illusion of more space by changing your window coverings to match the walls.

Focus on Furniture - Less Is More

Staging is the art of creating a visibly inviting space.

Like any homeowner, you will take your furniture with you when you move out of your home.

Until then, your personal taste and style will be showcased while your home is on the market.

In upcoming chapters, you will learn about depersonalizing your home, but first, we'll examine the concept of creating space by keeping furniture to a minimum.

Buyers are attracted to homes flooded with light and roominess.

They are equally repelled by homes filled with cramped and unnavigable spaces.

Remove all unnecessary furniture from your living spaces.


Store them elsewhere while your home is on the market.

Home shoppers want to walk through your home without obstacles in the way.

Space and storage are high on the list of buyers' requests, so every area of your home should feel spacious.

All closets, pantries, and storage rooms must be free from clutter and look organized.

By pruning back on what fills up space and relegating it to a storage unit, your home will create interest by showcasing space and storage.

Furniture placement is an easy way to highlight unique features of your home.

A grouping of chairs in front of a fireplace, for example, will draw attention to it.

Avoid pushing the furniture close to the walls.

Reposition easy chairs into floating group spaces.

Every room has to be staged to show function as well.

An empty room used for overflow of boxes, possessions, or unwanted items should be transformed into a usable, desirable space.

Clean it out and create an office space with a desk and chair or a reading room with a lamp and recliner.

If you have exercise equipment, feature it as a workout room.

Furniture pieces such as tables can be taken from the living room for use in other rooms.

Every room should have a purpose and be user-friendly.

Make your home's traffic flow obvious so buyers can browse each room without effort.

Emotional Cues

Once every room has a purpose, creating atmosphere is key to making your home desirable.

Decorative touches like greenery, flowers, and lit candles can give life to your home.

Wall art creatively hung will frame rooms.

A bedroom that has one bed with one pillow and blanket will make the room seem bare and lonely.

By adding a table with decor and a rocking chair draped with a lap robe, you heighten its appeal.

Make sure to add elements of the same color, shape, or texture to unify the room Any splashes of bold color should appear in the wall art or any place you want to draw attention.

Learn to strike a balance between staging and living in your home.

You can seasonally decorate your home without dashing your appeal.

The main goal is to keep your home clean and free of "stuff' that distracts would-be buyers.

Even simple things can make a big impact on the final sale price of a home.

Staging done well is one of those things!

You have two options for staging a home:

Option 1: Do it yourself.

Option 2: Hire a professional home stager.

If you are considering hiring someone to handle your staging, contact me for a list of references.

I'd be happy to share recommendations and send you information on stagers who will do a good job for you.

In the next few chapters, you will learn how to prepare for staging.

Remember, first impressions are important.

The time and effort you put into creating great ones will pay off when you sell your home quickly and for more money!

 

            Strathmore Best Realtor
 
 
Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
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