SELLING AN EMPTY HOME CAN BE TOUGH
Tips on making prospective buyer see potential, not problems
A vacant property is a respite from tacky furniture and mild hoarderlike tendencies of today’s modern household. It’s a joy to behold in a long day of precise appointment times offering flexible time spots. Yet despite all these good things, in many cases a vacant property can be a tough sell.
Potential issues and oddities are magnified in a vacant home. There is, after all, nothing else to look at. That scratch on the hardwood floor becomes very obvious, yelling out “I need refinishing, and this is gonna cost you!” The 17 nail holes in the drywall stick out like a sore thumb.
The dated yellow bathroom fixtures look, well, like dated yellow bathroom fixtures. All these glaring items feel ‘unlive-with-able’ to many potential buyers, turning their focus to the amount of time or money that will it take to remediate issues.
As a result, they often choose to walk away, rather than pull the trigger with a coveted offer to purchase.
Doing a little extra work preparing your vacant property may be the key to it selling, since most prospective buyers don’t have a vision for the property — meaning, they aren’t going to see the potential that is there.
They don’t have an imagination like you do, and they can’t see the potential you can clearly see, so you need to show them. You need to present the property in its best light, making its potential obvious, and the good news is that it’s a relative simple process.
First, clean your vacant property completely: I can’t tell you what a turn-off other people’s dirt is to potential buyers. Those dirty baseboards need a good wash, and the floor should be clean enough to eat off. The windows — make them sparkle. In short, make your grandmother proud of your cleaning prowess. Second, patch and paint everything: Paint is one of the cheapest improvements with the best return on investment. Patching the 17 nail holes and painting your vacant property bright, welcoming tones will improve the value more than the cost. When you make those small improvements, include those scuffed-up baseboards — you already washed them — and if they are looking worn then you can paint them to freshen up their appearance. Give them a new lease on life with fresh semi-gloss paint. Third, consider staging the property: According to the National Association of Realtors 2017 Profile of Home Staging Report, 77 per cent of buyers find it “easier to visualize the property as their future home” when it’s staged.
A professional stager knows how to make the most of a room’s space and draw the eye away from any less desirable parts of the home.
Staging helps take the guesswork out of “will a couch fit here?” or “is that room large enough for a queen size bed?” and helps a property sell. Additionally, a staged home has a certain emotional tug on a buyer. This is the same strategy used by new homebuilders with their show homes.
Typically, staged homes look
much nicer and more established than the average person’s home, and results in buyers feeling more drawn in. Finally, ensure the heat is turned
up and the lights are on: Consider a programmable thermostat that keeps the property warm during the day and ensures cool, moneysaving temperatures during the evening when people are not going to be walking through it. A few timers from the dollar store can be used with the lamps — having them turn on automatically in the early evening hours — and make sure to install bright LED lights during the dark winter months.
When a potential buyer walks through a vacant property that looks like a show home — freshly painted, bright, clean as a whistle and professionally staged — they will be more likely to write an offer. Putting in some additional time and effort helps ensure that people leave the property with a positive emotional response, which is the key to selling a vacant home. Re/max Excellence. She has over 12 years experience helping buyers and sellers in the Edmonton area. Heather can be contacted with any of your real estate questions or needs at heather.faulkner@remax.net, (780) 710-7232, or on Facebook at The Faulkner Group.