February 2020 Market Update - Luxury Homes/Top Towns

6 Ways Savvy Sellers Get the Most for Their Homes

Sex Sells—Changing the market proposition from an economic decision to an emotional decision benefits sellers. Looks and flow are the shiny objects in housing today, not square feet, generators, or block foundations. Pictures on the internet aren’t worth a thousand words anymore, they are a million times more powerful than text to bring buyers in the door.
Distinguish between spending and investing—As we prepare your home for market, there may be eminently affordable little investments you can make that pay back many-fold in your sale price. Other expenses are just that. They may make sense to you, without getting more traffic or higher prices (most driveway projects for example.) Consult a Realtor and their qualified stager.
Hire a listing agent for their track record, marketing & negotiating skills. Especially avoid auctioning the job off for the highest price opinion or lowest fees. These are generally inverse indicators of competence. If you really want to know your optimal market value, after award the job to your chosen professional, then review their exhaustive study. It won’t be polluted by the tendency to bid up, as when asking multiple agents for prices. Right priced homes net the seller more than sugary-priced homes every time!
Prepare completely before the big reveal–Think of your home’s entry in the market as a debutante. You only get to come down the stairs ONCE. If you are going to take the carpet off the oak floors (always advised and profitable) do it before the FIRST day on market. It’s sad and lonely to have to say “come back and see the new painting/flooring/staging” (that would have been more powerful and valuable the first time.)
“All the lights on, all the living creatures gone” is the motto of successful sellers for showings. Buyers need privacy to form a feeling of ownership about your house, instead of a need to perform for you, the owner. And there is no such thing as an innocent question from a buyer’s agent. If you can’t go away for the first weekend on the market, plan lots of movies, museums and dinners out.
Price to create a swarm–Swarms insist on paying full market value up to 10% over list price. Or if a buyer feels like they are the first visitors to the house in a long time, they pay as little as 88% of list. The seller to the swarm also exercises more control over the remainder of the transaction, since the buyer is humbled by knowing there were other offerors whom the seller can recall. Dare to price right—it’s the proven lucrative path!

Curious about your home’s value?

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Chatham

Clark

Cranford

Fanwood

Garwood

Millburn-Short Hills

Mountainside

Scotch Plains

Summit

Watchung