A Tale Of Two Houses

In a challenging market, agents strive to do all possible to make their listings stand out. “Staging” is the catch word of the day. I made a video for potential sellers and feature it on my agent site, www.JackCottonRealtor.com I have included it in this week’s message because I think it is important to remain focused on doing only those things that will actually help a property sell as opposed to keeping busy. In the story that follows, I’ve changed some of the facts to protect the innocent.

Two properties came on the market in my town at just about the same time on opposite sides of a river. They were similarly sized homes with similar views and came on the market at nearly the same price. More remarkable they were almost the same age and needed almost the exact amount of work: new roofs, kitchen, baths, heating systems and redecorating. One house sold in a matter of five weeks. One house is still for sale almost a year later. What is the difference? Why did one sell when the other did not? What can you learn from this situation that can help you with your own listings?

I probably don’t need to mention that in this market there are fewer buyers and fewer showings and no second chances. Buyers are cynical, looking for value and are tough to please. My friend Teri Murphy says that the current market is like a “beauty contest and a price war and you have to win them both”.

I am leery of the word “staging” because to me the word connotes contrived, insincere or fake. If there’s one thing I can tell you about today’s buyers is that they are smart and cynical. They don’t want to be played or manipulated and they don’t like things that are contrived. Staging connotes all these thing that buyers don’t like.

Getting back to the house that sold in five weeks as opposed to the one that is still for sale today: the big difference is that the one that sold looked loved while the other looked neglected. They both needed the same amount of work. Nevertheless, when people walked up to the front door of the house that sold in five weeks it was amazing to see the look that came over their faces. They had a look of calm and ease. They looked like they were coming home even if it wasn’t the perfect house for them.

So my question to you is that if your seller does not love their house, why would a buyer? When you’re putting a house on the market today I don’t think you need to spend money on expensive stagers, just make your listing look loved.

We accomplish this with a checklist. Look at the curb appeal both from the yard and the facade of the house. Look at each room of the house one at a time. I use 27-page checklist. It covers everything both inside and out that will make a listing look loved.

If you want to maximize the value of your listing, understand that every showing counts. You never get a second chance to make a great first impression. Make your listing look loved, not staged. Understand that when your listing is shown, it’s more than just showing, it’s show time. It’s a performance and you need to execute that performance thoughtfully and perfectly.

Until next week, make it a great week. Don’t forget, if you bought my book “Selling Luxury Homes” you get a 20 minute phone consultation with me. Just fill out the form and fax it back. And if during the week you have questions, send an email to jack@jackcotton.com .

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