3 Trends that are Changing the Way You Sell Your Home

3 trends

There are big changes happening in the real estate market, driven by 3 trend that are having a huge impact on how today’s buyers choose a home. By understanding how these trend affect the way a home must be presented for sale, home sellers can increase their chances of selling faster and for more money.

 

TREND #1  Demographic Disconnect

The Baby Boomers are about to be very focused on housing. Turning 65 at the rate of 11,000 per day, many want to downsize, sell their own or their parents’ homes, or move location to be with family or a warmer place. However, they may be surprised because they are selling their aging housing stock into a market of buyers who have limited financing, and changed expectations about what they want in a home.

As Boomers start to sell, they will find that home buyers are more educated than ever – possibly “overeducate” – and that as sellers, they are out of touch with what it takes to sell a house today. And, that’s because of the next two trends.

 

TREND#2  TV TASTES

TV and  the internet have changed the real estate game. Forever. TV and HOUZZ and sites like it have raised buying expectations to a really high level.Today’s buyers want move-in ready as well as up-to-date interiors that have become the new norm. Nobody wants a “granny” looking house that’s going to take a lot of vision, money and work.

TV has also “sped up” expectations.  HGTV, Extreme Home Makeover and the multitude of home improvement shows have change consumer expectations about the speed at which a great interior can be created and these shows rarely talk about “actual expenses” to achieve the makeover. Buyers have come to believe that you can reno a kitchen without a lot of fuss while they are out to dinner!

So, we have buyers who expect crown moldings (now matter what the price point of the home is) and sellers who still think a coat of paint is all it takes to mauve a house. Result?

A recipe for miscommunication and disappointment. And, it’s being accelerated by the third trend.

 

TREND #3  SKIMMING AND DIVING

With iPhones and iPads, everything is faster than ever. Finding, gathering, sorting and selecting information is all at the buyers’ fingertips. This means that buyers can learn a lot about a real estate market or a particular house in minutes.

And, the new technology has created “skimming and diving” behavior. This means that most people skim across a lot of content until they find something that interest them and then they “dive” into it, going deep.

You probably do it yourself. You’re about to send an email, something online catches your attention, and two hours later you’ve gone down a rabbit hole, forgotten to send the email and spent that time deep in something that interested you.

There’s so much online that rejection is the new norm. In other words, if something doesn’t grab your attention immediately, you swipe your way to the next thing.

 

Now, imagine how this type of behavior impacts real estate! If the photos of a home don’t grab you instantly, you’re gone.  You only stop skimming and “dive” into a listing if the photos make a fabulous FIRST IMPRESSION. Buyers won’t wait or read the description of the house,  because they’re just a “swipe” away from something that’s better.

That’s because these two trends – TV Tastes and “skim and dive” behavior – mean that home buyers are now over-educated while many home sellers are under-educated, basing there selling expectations on a model from 20 years ago.

 

WITH THE POWER SHIFTING TO THE OVER-EDUCATED HOME BUYER, HOW CAN A SELLER WHO HASN’T PARTICIPATED IN THE MARKET IN THE LAST 10 YEARS GET A LEG UP ON THE COMPETITION?

The answer is to focus more than ever on the GREAT FIRST IMPRESSION.

And the best way to guarantee this great first impression is to focus on HOME STAGING.

That’s because Home Staging today is a planning process rooted in the science of human decision makings. It’s no longer just about pillow fluffing or strategically place bowls of fruit.

Today’s Home Stagers want to help the seller understand the new norm and implement the updates and improvements that will have the biggest positive impact on the selling price of the house. We need to educate the sellers and show them how to take back some of their power in the selling process.

After that, we can help give the house its makeover with paint, furniture placement and accessories to showcase the best features of the home to help the buyer imagine herself turning that house into her home. Because the seller will only get that one chance to make a great first impression on buyers who are influenced by TV Taste and spend their time skimming and diving online.

Unfortunately, too many home owners are leaving a lot of money on the table because they think of home staging as purely cosmetic rather than utilizing it as an important tool in the planning process that will get the most money out of their biggest asset.

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