BOOK REVIEW: Home Makeovers That Sell
Quick Skim
Too many sellers let thousands of dollars slip through their fingers by failing to get their house in tip-top shape, author Sid Davis writes. In his latest book, he offers staging tips, cleaning worksheets, and fix-it checklists (but not many photos) to help sellers spruce up every room of their home — including the garage. Beyond the expected advice, Davis doles out helpful pointers on CMAs, replacing appliances, and tax benefits of moving up.
Tips from the Book: 5 Ways to Sell a Home Faster
In Home Makeovers That Sell (AMACOM, 2007), Davis offers these tips for beautifying a home before it hits the market:
1. Don’t sell “as is.” Selling a home without doing some prep work before is the easy way out, and you'll likely only attract bargain hunters. Accept the fact that painting, cleaning, decluttering, and various fix-its will be needed before you sell.
2. Get a storage unit. Excess furniture, such as a king-size bed squeezed in a guest bedroom, will make rooms look smaller. Rooms can double in size simply by getting rid of the big pieces. Also prime for off-site storage: knickknacks, photos, trophies, and everything else that will distract buyers from seeing themselves in the home.
3. Hire a home inspector upfront. Before putting the home on the market, fix any problems the inspector finds. You’ll eliminate surprises that can hold up a sale. An added bonus: A clean
inspection report is an excellent marketing tool.
4. Fuel their imagination. Paint rooms in neutral colors or use white paint with a tint of brown or grey. Buyers will be able to envision their own decorating touches and colors in the room. Flat paints tend to hide small imperfections and semi gloss paints work well for kitchens and bathrooms.
5. Know what adds value to the home. Improvements that generally add value to your home include landscaping, decks, floor upgrades, security system, and extra bathrooms or bedrooms. On the other hand, repairing water leaks, damaged walls, or other maintenance tasks don’t typically boost value — they’re expected as part of the sale. (For more guidance, check out the most recent Cost vs. Value Report.)
Sneak Peek
“Clutter is to selling a home like obesity is to a Miss America contestant. It isn’t going to help your cause if buyers looking at your home are turned off by piles of clutter. Remember, people buy on emotion. They’re looking for a house that evokes hearth and home emotions. For that to happen, buyers must see themselves living in and enjoying the home. These are the people who pay full price and don’t lowball your price.”
About the Author
Sid Davis is broker-owner of Sid Davis & Associates in Farmington, Utah. He has two other real estate books: A Survival Guide for Selling a Home (AMACOM, 2005) and A Survival Guide for Buying a Home (AMACOM, 2004).
Sid Davis will respond on Monday, April 16, to the questions you have submitted.
Comments
Welcome to REALTOR® Magazine Online’s new book blog! We hope you enjoy it and that you’ll check back regularly.
This week on the blog you can ask author Sid Davis your staging questions. Please submit your questions to bookblog@realtors.org by Thursday. We’ll post his responses on April 16.
Meanwhile, let’s get the conversation started: What’s the most inexpensive staging trick you’ve used?
Posted by: Melissa Tracey | April 10, 2007 03:42 PM
True! The comments I get from my buyers when they walk into a staged home are 'comfy' 'warm' 'homey' 'clean' as opposed to vacant which usually gets 'cold' 'i wonder where my couch would go?' Cluttered home, well, that's the hardest of all. Many buyers feel uncomfortable and don't want to linger, it's hard for them to get past the clutter to see the possibilities. The buyers know a home is staged but knowing it's a 'display' does not take away their first 'feelings' of the house. I highly recommend staging to help your listing sell at the top of it's price range!
Posted by: Susanne Stauffer | April 10, 2007 03:53 PM
I think the first 3 of the five are solid gold. My opinion on #4 is that over neutralizing the home is a detriment, especially if the home goes vacant. I suggest some painted accent walls of popular colors in your area. In number# 5 the cost value report numbers are derived from realtor opinion surveys in a sellers market that was much hotter. I think the true ROI on these improvements is much less. We should really look to appraisers to value these items.
Posted by: Brent DeRobertis | April 11, 2007 01:07 PM
What do you suggest for a house that is vacant?
Posted by: Carol Rinker | April 11, 2007 06:15 PM
While I agree with all of your suggestions, there are instances where the homeowner cannot afford to make improvements or make the repairs. What is your suggestion for this instance?
Posted by: Kelly Sibilsky | April 12, 2007 08:18 AM
This could not come at a better time! It is common, when consulting with a potential client, expecially in the metro Detroit area & Macomb county, for them to take our advise with 'a grain of salt' - this not only gives what we tell them credibility but, the message comes from a 3rd source (who is published).
Posted by: Rick Landuyt | April 12, 2007 08:53 AM
Hello - Anyone run into problems w/having home inspections prior to on the market? Like buyers thinking the seller selected home inspector who didn't catch everything -that it really should be the buyer selecting their own inspector and being there during the inspection. I can see the pros and cons of this issue. Not many agents in our county highly suggest this to sellers. THoughts/Experiences?Thanks, Kaytee
Posted by: kaytee Vossen | April 12, 2007 11:46 AM
As a Property Presentation Consultant working in the UK, I agree with all the points and put them into practice here. It's amazing the difference de-cluttering can make. Painting the walls a neutral light colour too, but not brilliant white over here - it is too cold for our Northern temperate light and climate. Not many realtors interested in this service over here yet. Those who do profit- my staging makes from 6- 30 % increase in valuation.
Posted by: Lucille Strachan | April 13, 2007 06:25 AM
Please HELP...Question on Second Mortgage. My house was foreclouse and the new buyer sold it for more than what I paid for the house. I understand that the first mortgage is paid off automatic. My question is does the second mortgage gets paid off also on what's left after the first gets their money, or the first keeps what's left as profit and the second doesn't get paid off?
Posted by: John Cruz | April 13, 2007 12:46 PM
On the home inspection prior to sale issue, I believe that it tells the Seller what needs their attention to help them get "top dollar" out of their property, and maybe a follow-up inspection to verify items completed - total cost to Seller maybe $500 to $600 vs increase in value - a no-brainer. It depends on the selling style of the agent showing the property as to how this is dealt with as far as any potential buyer skepticism is concerned, and for $300 the buyer can still get their own inspection. I believe that some agents create buyer skepticism with their presentation style & comments. These costs are miniscule vs home price in most cases.
Posted by: Frank Coon, Broker/Owner | April 13, 2007 01:02 PM
For the least cost and biggest impact, add lighting -- including ramping up the wattage on the bulbs in existing lighting. And absolutely replace any burned out bulbs. This is key for houses with lights in inaccessible places. When buyers see light fixtures miles overhead with burned out bulbs, they realize how hard it must be to change them!
Posted by: Harriet Gowanlock | April 13, 2007 09:37 PM