Microsoft did a recent study that shows humans now have attention spans shorter than a goldfish (goldfish 9/humans 6-8)

People prefer fast food delivery, videos in less than two minutes, a good laugh in 140 characters or less, and prefer articles in bulleted format.

What does that mean when selling your home? You have less time to engage a prospect’s curiosity.  So, saddle up cowboys and cowgirls, you get 7 seconds to hook a buyers attention online, try the use of home staging bait to hook those home buyers.

Home buyers are uber-connected online and 9 out of 10 home buyers use the internet as one of their primary home resources, and 52 percent of those shoppers start fishing online.

I usually tell my clients that home staging is an essential and irreplaceable marketing tool for marketing a home on the internet and their home is the bait that captures a buyer’s attention. 70% of home shoppers use YouTube alone, to tour houses for sale. Video and virtual tours are popular for marketing a home for sale and with a staged home, you can create targeted merchandising strategies to attract specific buyer groups.

36% of new home buyers use mobile and TV simultaneously, home staging techniques assist buyers as they skim a website during the first moments of their visit in order to assess whether they have what they are looking for. If a home for sale passes and piques their interest during their initial skimming, they are more likely to explore longer, more thoroughly and make a call to a real estate professional. Meanwhile, if a home for sale doesn’t capture a user’s attention  they are likely to leave within the first moments of their visit

Online research of homes for sale happen at work, at home, at restaurants, while waiting in line, and while with family and friends, providing the opportunity for input and many eyes on a home for sale.  Staged homes gain buyer confidence by creatively marketing a home to minimize weaknesses, creating dream homes that buyers fall in love with and boost the professional perceptions of the real estate pro marketing the home.

Whether home buyers are purchasing a home of their own, want a larger home, job-related move, changes in family status,  affordability, desire proximity to family/friends/relatives, want a better location, retire or downsize, home staging has the advantage of outshining the competition.  A home staging professional has their pulse on market trends that benefit spaces to attract consumer buyers across multiple market segments.

First-time buyers, new and existing home buyers and senior shoppers all turn to the web while researching homes to buy.  The good or bad online experiences increasingly influence their home buying decisions.  

Home buyers rely on real estate pros and open houses to bring their online searches and dream homes into reality.  Yes, even in a hot seller’s market, sellers who stage their home hold more cards in their hand and put more money in their pockets faster than other homes in the same price range that have not properly prepared their home for sale.

Do the homes that you market online capture a buyer’s interest?  The marketing that you do has a lot of work to do in a short amount of time.  Home staging will leverage your position against competing properties, new home sales and simplifying the home shopping experience by winning a customer’s attention and once again, remove distractions and unworthy elements to view.

If you enjoyed this post, I’d be grateful if you helped spread the word by emailing it to a friend or sharing on Twitter or Facebook. Happy home selling!-Johanna

We all know that the Real Estate Market is hot in Colorado, in February there were only 3,878 units of single family homes and condos on the market. The home down the street had multiple offers, the neighbors sold their home for $10,000 more than listed for, and it was under contract in less than 48 hours. Yet other homes may sit on the market with no buyer interest.

What’s up with that?

So, here’s the low-down on How To Engage and Delight Buyers 5 Free Tips that home sellers should know prior to putting that “for sale” sign in your front yard.

#1 We can sell no matter what

If a home is priced too high, even in a seller’s market, you run the risk of the listing sitting on the market unsold, even in a hot seller’s market.

Pricing is just one of many possible reasons a home may not have sold.

#2 Any home improvements that I make will raise the sales price

Too many improvements or sometimes over-improvements may be a waste of money.  Style and taste are a matter of personal opinion and might not appeal to the broadest range of potential buyers.

Sometimes it’s the little things that make the biggest impact.  Simple things like sprucing up the kitchen or just updating tired appliances, instead of remodeling.  It could be as simple as rearranging furniture into a pleasing seating arrangement that capitalizes on architectural attributes, hanging artwork properly, or a bit of front-yard landscaping, (to boost curb appeal).  Sometimes but not always, it’s the simple things that make a big difference.

#3  I can sell my house “as is” buyers can do what they want with it

You may think that your house is market ready, but when it’s all said and done you may be overlooking necessary changes that could boost your bottom line and the marketing appeal.  Knowing what home improvement (if any) that will get you the best return on investment, along with properly marketing your home to appeal to prospective buyers is key.

There are very few folks who have the imagination to see anything beyond what’s in front of them. It takes a lot of mental energy for a buyer to visualize how to fix up a home “ more often than not they don’t want to be bothered, or don’t have the natural abilities, instincts, or extra cash to get a home in the shape they desire to live in, so they move on.  It’s only good marketing to show buyers value when they are looking for a home to purchase.

#4  I can use the camera on my phone for the listing photos

You’ve heard the old adage that a picture is worth a thousand words, right?  You only have but moments to capture a buyer’s attention when they are previewing a home online.  The photos that you present are like the lure that snags a fish.  The photos that appear online are the driving force to capturing buyers to come and view a home in person.  What you save money for great photos won’t amount to anything, if you don’t sell your home.

Oh and don’t forget… you want the pictures of your home for sale to emotionally resonate (oohs and wows), it’s that feeling you get when you walk into a model home.

Compare that instead to the dull and boring sameness found in the bulk of suburban developments.

Not every home for sale can be a model home, yet every design should be an attempt to stir the senses.

#5   Minor repairs can wait until later.

The truth of the matter is that the minor repairs make your home for sale more marketable, it allows you to maximize your return on investment (or minimize potential loss) when you sell.

Home buyers prefer an inviting home move-in ready home to buy.  Buyers who are willing to take on the repairs after moving in automatically subtract the cost of needed fix-ups from the price they offer (lower offers). You save nothing by putting off these items, and you may likely slow the sale of your home.

Imagine you use these tips and few home staging strategies for a better rate of return when you’re getting ready to sell your home. You know it works, you have seen it on HGTV in home shows like Designed To Sell and the National Association of Realtors highly recommends home sellers stage their homes prior to pictures.  you get your first enthusiastic, home buyer who is delighted to pay top dollar. You now have new money in the bank.

What would that mean?

Would you be more confident in your abilities or that of a home staging pro to help with all the small details?

Would you be more motivated to earn more and use it to pay off debt, increase your savings, or take an extravagant vacation or even buy a bigger house?  

Remember, home staging is always less than you first price reduction.  Don’t hesitate to call me for a no obligation, free quote.

In January the 2015 Home Staging Survey was published by the National Association of Realtors.  One of the findings was that living rooms are one of the most important rooms to stage in vacant or owner occupied homes for sale.  Grey is the color trending this year 2016, so the furniture I selected for this vacant property was perfect for marketing.

Buyers are better able to visualize room size, furniture placement and imagine how a space could be used.  The three marketing photos below show a lifestyle image and captures the emotions of buyers.

81% of Realtors representing home buyers say, “taking the extra step to stage a home can make a difference in how a buyer values it and the price a seller might get for it.”

Hopefully, everyone knows that at a minimum, cleaning, de-cluttering and making repairs will help prospective buyers better visualize themselves in the home, and often increases the home’s value for buyer and seller.

It is important to initially capture a buyers attention in the marketing photos, which in turn takes them off line to make an appointment to preview the home.  The use of staging is a marketing tool that savvy sellers and Realtors use to show the property in its best light.

I have been talking a lot about return on investment.  Curb appeal is one of those returns that sells about 50% of homes for sale.  With that said I’m going to give you the skinny about stone veneer because the return on investment is a 92.2% return on investment and can make HUGE curb appeal impact.

Not only does stone veneer look super it also resists weather conditions in multiple climates, and keeps its original look.  I have ugly concrete block around the foundation of my own home and would make my home look a whole lot better.  I understand that stone veneer can be installed easily and relatively quickly, so who knows maybe I’ll have a summer project.

There are a few types of siding when deciding on what to use.  Solid stone siding is heavy and installation is similar to putting together a puzzle.  Stone veneer siding is stamped and stained concrete manufactured to look like real stone that interlocks.  Manufactured stone is manufactured individually and looks like actual rock or clad stone that looks like brick.

Another option is foam siding that imitates actual stone, but it’s light weight, covers a large area and an entire corner of a house can be done in one day.  I’m short on patience and the muscle for the other products so this one might be the way to go for my ugly foundation.

After doing my homework I found that some of these products can even be used around fireplaces.  I love this product, there is nothing like the feel of a stone fireplace for that homey feeling with cozy nights, cuddled up in front of a blazing hearth.  This goes to the top of my list for fireplace updates, oh yeah!

Sorry for digressing.  Let’s go back outdoors…if you are looking for a cost to install natural Stone Veneer for a basic 125 square feet project in zip code 47474, the cost to install averages $9.26 – $13.44 per square foot* – but costs in your area will vary.

Updating Electrical In a House, ranks up high on the list as updating plumbing. In 2010 HomeGain did a survey of 1000 agents throughout the United States, the survey revealed that 89% of agents nationwide agreed that updating electrical in a home could increase the homes value up to $1500.

Home buyers assume that it costs much more to fix broken items than it actually does. The perception of broken electrical out weighs the real repair costs in price reductions or low offers.

Mentally when a switch is turned on and doesn’t work the homebuyer will start calculating the cost of repairs, which in turn makes a reduction in the offering price. The reductions are almost far greater of the actual cost of the repair.

Should you have some broken switches and outlets, by all means replace them. Older homes that blow fuses are not only inconvenient but may be a safety issue as well.

For some odd reason items that I find often when providing home staging consultations are broken doorbell buttons, broken switch plates and burnt out light bulbs. Another item that has nothing to do with the working order of the electrical system are decorative switch plates, which I recommend being replaced with the good old average, boring switch plates.

Updating Electrical In a House Areas to consider would include:

1. An area that needs a three way switch, that can be turned on or off in two different areas
2. Add a switch for a light that is turned on by a cord
3. Add a switch for a fan that is turned on by a cord
4. Add a multi-purpose outlet for charging a mobile device
5. An area that could benefit from a dimmer switch
6. A home that has aluminum wire instead of copper (frequent cause of residential fire)
7. A home that has flickering lights or frequent blown fuses
8. A home that is older than 40 years old
9. A home that has a fuse box not a breaker system
10. Update electrical for Internet and other audio/visual equipment
11. Update original builder light fixtures
12. The greatest return on investment comes from additional lighting
13. Adding lighting to paths, patios and porches to accommodate outdoor living
14. Updating old flush mounted lights with new LED lighting
15. Dated light fixtures are an easy install that can modernize a home

If new homes and competing homes in the same price range have updated their electrical, to compete in the same price range you will have to make the necessary electrical updates or suffer the consequences of reduced offers or lingering on the market with price reductions.

Cost of Home Staging – Is Always Less Than First Price Reduction, price reductions run between $5000 and upwards. Many home staging tasks like cleaning and de cluttering are free and only require a bit of elbow grease. Good news, these improvements will return the largest return on investment. Other improvements will require an out of pocket investment but make a huge difference in how your home will appeal to homebuyers.

There is no set answer on how much to invest in the staging process it will depend on the condition of your home. A good rule of thumb is to expect to spend about 1%-3% of the value of your home on staging. You will invest considerably less If your home is in good repair and updated with the desires of a homebuyers heart. Whatever investment you make in effort or money, will easily add to your return on investment in the asking price.

When a home sits on the market a price reduction typically occurs. When you calculate the cost of the price reduction think in terms of the investment lost by not making the investment into home appeal upfront. Bare in mind that homebuyers will spend more money for a house that is move in ready. As I had mentioned in my previous posts, homebuyers want new and updated for the usual financial reasons.

According to the National Association of Realtors your best return on investment spent on home staging will occur between 1% and 3% of the asking price of your home. That upfront investment may get a larger return in thousands of dollars in equity when your home sells.

Remember when you are considering your budget, be creative in your thinking, you don’t always have to spend a lot of money to make your home appealing to homebuyers. Home staging allows you the flexibility to figure out inexpensive and creative solutions to cut costs of preparing your home for sale.

Visual home staging tricks for making spaces appear larger provide the perception of more space equalling more square footage and a bigger home. The perception of making your home feel newer, fresher and up to date will give homebuyers piece of mind that they won’t have to consider future investments.

Perception is everything, how you wrap your home up in a pretty little package and merchandise it to homebuyers. Think outside the box, use what you have differntly, borrow and be a bargain hunter to create lifestyle benefits that buyers are looking for. Yep, be prepared to spend some money for staging, but think of alternatives to get the job done.

The faster you sell the less likely you will have to reduce the price. Remember buyers want move in ready, your upfront investments will more than likely pay for itself by not having to reduce your asking price or accept lowball offers. Remember “you never get a second chance to make a first impression”.

When putting together your budget be mindful of what is critical and most important to your sale and what is optional. Some rooms are more important than others, those are the rooms you will want to put your investment of money and time into.

Recap:
The cost of home staging is less than your first price reduction
Expect to invest 1-3 percent to reap additional gains in you ur return on investment
Refer back to previous posts on cost vs value
Studies show the longer your home is on market it is more likely there will be price reductions.

Based on the research from National Association of Realtors, American Architects Association, House Logics Cost VS. Value Report, Contractors, Investors and homebuyer wants when purchasing, I’ve put together the return on investments statistics on where home improvements might be made if budget allows when selling your home.

When preparing your home for sale, home improvement projects will update the look of your house, and add value and make you money as well. When getting ready to make improvements, consider the 15% rule on home improvements—do not invest more than 15% of your home’s value into any home project. With this information under your belt, your home improvement project can be a great investment.

Some of the improvements you may be able to tackle yourself, others you may have to hire a professional. In order of priority, I’ll share where you will get your greatest return on investment.

1. 865% ROI is an easy update that can get done rather quickly. Replace burnt-out light bulbs and clean windows and skylights. Brightening and lightening your home is very cost effective and inexpensive.
2. 260%   Repairing and updating defective plumbing and electrical items, provides a large ROI. Paint and repair interior walls with a brand new fresh coat of paint. And patch those chips, holes, or cracks that you’ve been intending to fix for a couple of years. 148% ROI.
3. 251% Home Staging-Freshening a space with decor, art, greenery, lighting and staging furniture or renting furniture, livens a space for showings and marketing photos.  Consider hiring a staging consultant.
4. 148% Paint Interior-Repair any damaged interior walls by patching all chips, holes and cracks; then touch up or repaint interior walls with neutral color.
5. 104% If carpets are only soiled, have them professionally cleaned. Should they be thread bare, tattered and torn replace.
6. 101.8% Update entry door and jambs and replace with new 20-gauge steel unit, including clear dual-pane half-glass panel, jambs, and aluminum threshold with composite stop.
7. 101% Refinish your wood flooring and—with the addition of area rugs—give your home a brand new look.
8. 92/2% Adding manufactured stone veneer to foundations, arches, columns, around doors and windows
9. 90% ROI. Painting the exterior is a home improvement to enhance the property value of both your home and neighborhood, which makes everybody happy.
10. 88.4% Install new 4-section, uninsulated, single-layer, embossed steel garage door with galvanized steel hinges and nylon rollers, on new galvanized steel tracks; using existing motorized opener.
11. 80.7% Replace old, dated color, worn, dented or damaged siding with new vinyl siding, including all trim.
12. 80.5% Add a 16-by-20-foot deck using pressure-treated joists supported by 4×4 posts anchored to concrete piers. Install pressure-treated deck boards in a simple linear pattern. Include a built-in bench and planter of the same decking material. Include stairs, assuming three steps to grade. Provide a complete railing system using pressure-treated wood posts, railings, and balusters.
13. 80% ROI new windows have an ROI of over 80%
14. 79.3% Minor Kitchen Remodel- In a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops, leave cabinet boxes in place but replace fronts with new raised-panel wood doors and drawers, including new hardware. Replace wall oven and cooktop with new energy-efficient models. Replace laminate countertops; install midpriced sink and faucet. Repaint trim, add wall covering, and remove and replace resilient flooring.
15. 79.3% Finish the lower level of a house to create a 20-by-30-foot entertaining area with wet bar and a 5-by-8-foot full bathroom; construct 24 linear feet of finished partition to enclose mechanical area. Walls and ceilings are painted drywall throughout; exterior walls are insulated; painted trim throughout. Include five six-panel factory-painted hardboard doors with passage locksets. Electrical wiring to code.  (Bar area: Include 10 linear feet of raised-panel oak cabinets with laminate countertops, stainless steel bar sink, single-lever bar faucet, undercounter refrigerator, and vinyl floor tile.  Main room: Include 15 recessed ceiling light fixtures and three surface-mounted light fixtures, and a snap-together laminate flooring system.  Bathroom: Include standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan combination, vanity light fixture, recessed medicine cabinet, towel and paper-holder hardware).
16.   77.6% Basement Remodel- Finish the lower level of a house to create a 20-by-30-foot entertaining area with wet bar and a 5-by-8-foot full bathroom; construct 24 linear feet of finished partition to enclose mechanical area. Walls and ceilings are painted drywall throughout; exterior walls are insulated; painted trim throughout. Include five six-panel factory-painted hardboard doors with passage locksets. Electrical wiring to code.  (Bar area: Include 10 linear feet of raised-panel oak cabinets with laminate countertops, stainless steel bar sink, single-lever bar faucet, undercounter refrigerator, and vinyl floor tile.  Main room: Include 15 recessed ceiling light fixtures and three surface-mounted light fixtures, and a snap-together laminate flooring system.  Bathroom: Include standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan combination, vanity light fixture, recessed medicine cabinet, towel and paper-holder hardware).
17. 77.2% Attic Bedroom- Convert unfinished attic space to a 15-by-15-foot bedroom and a 5-by-7-foot bathroom with shower. Include a 15-foot shed dormer, four new windows, and closet space under the eaves. Insulate and finish ceiling and walls. Carpet floor. Extend existing HVAC to new space; provide electrical wiring and lighting to code. Retain existing stairs, but add rail and baluster around stairwell.
18. 74.3 Composite Deck- Add a 16-by-20-foot deck using pressure-treated joists supported by 4×4 posts anchored to concrete piers. Install composite deck material in a simple linear pattern. Include a built-in bench and planter of the same decking material. Include stairs, assuming three steps to grade. Provide a complete railing using a matching system made of the same composite as the decking material.
19. Major Kitchen Remodel- Update an outmoded 200-square-foot kitchen with a functional layout of 30 linear feet of semi-custom wood cabinets, including a 3-by-5-foot island; laminate countertops; and standard double-tub stainless-steel sink with standard single-lever faucet. Include energy-efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, garbage disposal, and custom lighting. Add new resilient flooring. Finish with painted walls, trim, and ceiling.
20. 72.5% Update an existing 5-by-7-foot bathroom. Replace all fixtures to include 30-by-60-inch porcelain-on-steel tub with 4-by-4-inch ceramic tile surround; new single-lever temperature and pressure-balanced shower control; standard white toilet; solid-surface vanity counter with integral sink; recessed medicine cabinet with light; ceramic tile floor; vinyl wallpaper.
21. 71.8% Two-Story Addition-Add a first-floor family room and a second-floor bedroom with full bathroom in a 24-by-16-foot two-story wing over a crawlspace. Add new HVAC system to handle addition; electrical wiring to code.  (Family room: Include a prefabricated gas fireplace; 11 3-by-5-foot double-hung insulated clad-wood windows; an atrium-style exterior door; carpeted floors; painted drywall on walls and ceiling; and painted trim.  Bathroom: 5 by 8 feet. Include a one-piece fiberglass tub/shower unit; standard white toilet; wood vanity with solid-surface countertop; resilient vinyl flooring; and mirrored medicine cabinet with built-in light strip; papered walls; and painted trim; exhaust fan. Bedroom: Include walk-in closet/dressing area; carpet; painted walls, ceiling, and trim; general and spot lighting).
22. 70.8% Fibre Glass Entry Door Replacement- Remove existing 3-0/6-8 entry door and jambs and replace with new fiberglass unit with simulated wood grain, stained same color both sides; dual-pane, decorative half-glass panel with zinc caming; PVC-wrapped exterior trim in color to match existing trim; 2.5-inch interior colonial or ranch casings in hardwood stained to match door. Replace existing lockset with mortise lock with lever handle and integrated deadbolt in oil-rubbed bronze or satin-nickel finish.
23. 69.3% Garage Addition- Construct a 26-by-26-foot freestanding two-car garage, including footings and slab-on-grade foundation, 2×4 wood frame with OSB structural sheathing, and gable truss roof at 6/12 pitch. Install 25-year asphalt shingle roofing with galvanized metal flashing; vinyl siding and trim. Install five double-hung 30-by-48-inch vinyl windows; one 3-0/6-8 exterior door with half-glass and lockset; and two composite 9-by-8-foot overhead doors with motorized openers. Include 100-amp breaker at main house panel and 50 linear feet of trench buried conduit to feed new electrical subpanel. Provide electrical wiring for openers; three-way switching for fluorescent ceiling fixtures over each bay; three-way switching for two exterior spotlights; outlets to code. Interior wall, floors, and ceilings remain unfinished.
24. 67.6% Roof Replacement Remove existing roofing to bare wood sheathing and dispose of properly. Install 30 squares of 235-pound fiberglass asphalt shingles (min. 25-year warranty) with new felt underlayment, galvanized drip edge, and mill-finish aluminum flashing. Assume a 5-square hip roof; custom flashing at two average-sized skylights; and custom cap treatment at vented ridge.
25. 67.5% Master Suite Addition- Add a 24-by-16-foot master bedroom suite over a crawlspace. Include walk-in closet/dressing area, whirlpool tub in ceramic tile platform, separate 3-by-4-foot ceramic tile shower, and double-bowl vanity with solid-surface countertop. Bedroom floor is carpet; bathroom floor is ceramic tile. Painted walls, ceiling, and trim. General and spot lighting, exhaust fan; electrical wiring to code
26. 60.1% Bathroom Addition- Add a full 6-by-8-foot bathroom over a crawlspace with poured concrete walls. Include cultured-marble vanity top with molded sink; standard chrome faucets; 30-by-60-inch white fiberglass tub/shower with ceramic tile surround; single-lever temperature and pressure-balanced faucet; white low-profile toilet; general and spot lighting; electrical wiring to code; mirrored medicine cabinet; linen storage closet or cabinet; vinyl wallpaper; painted trim; and ceramic tile floor.
27. 28% Landscaping

Yesterdays post talked about your target market and what a typical homebuyer looks like. Today I’m going to cover what a typical seller looks like and how it will be important to you when you are getting ready to sell your home.

1. 40% of home sellers traded up to a larger sized home.
2. 47%  purchased a more expensive home.
3. 53% percent purchased a newer home.
4. The typical seller lived in their home for 10 years.

Remember yesterday I had mentiond that seller received 97 percent of the listing price, and 45 percent reported they reduced the initial asking price at least once.

With sellers moving up into a larger home, they are looking for more space, so it’s going to be really important to showcase your home by removing clutter and extra furniture pieces.

It is equally important to merchandise your home.  Visual merchandising is a retail strategy that maximizes the aesthetics of a product with the intent to increase sales.  Visual merchandising in this case home staging can also play a role in the look, feel and lifestyle benefits that a home provides.  Done well, it can create awareness in your marketing photos online presence while simultaneously increasing a home perceived value. Most importantly, it can draw homebuyers in and close the sale – all based on the aesthetic quality of your home.

In a nutshell those same sellers are home buyers, looking to move up into spacious homes, into more expensive and newer homes.  The goal of staging will be to paint the picture that your home can provide what homebuyers are looking for.

Success factors of home staging include the home’s appearance, updates, lighting, artwork, greenery, color, furniture, textures, presentation and the “wow” factor each of these elements bring together in a homes setting.  When these elements come together to showcase a home, it enriches the homebuyer experience, leading to a positive home buying experience and increased offers and faster sale.

Tomorrow in order of priority I’ll share how to stage your home, what updates will give you the best return on investment and how to merchandise the home for a wonderful “wow” factor.