They say it's a buyers market right now, but what can sellers do to maximize their home's potential? Earlier, I wrote a piece on how to prepare your home decor to attract buyers---and now, expert realtor Trace Holcomb, from Hunter Real Estate Group, in Houston is here to provide some insight into the market and guide us in the right direction - whether you're a buyer or a seller. Here's what he had to say:
Q: What are some of the biggest mistakes you see home owners make prior to listing their home?
A: As far as immediately prior to listing, I have seen clients try to make “improvements” to the home that they think the buying public wants to see, without giving much thought to keeping it neutral, choosing nice materials, or having it done properly. For instance, it is better to NOT replace current countertops if you aren’t going to choose a quality material or have it installed correctly. Going the less expensive route and “tiling” granite countertops is a big turn-off to many buyers as well. If you are going to paint, it really is better to choose a neutral color that creates warmth. Another big mistake people make is assuming it won’t matter to a buyer that their home is messy, cluttered, and/or dirty. These things create negative energy, and buyers will feel like they can offer less money.
The biggest mistake sellers make – perhaps not prior to listing their home, but in the process of listing their home – by far and away, is pricing it too high. And while I’m on my broker soap box, I would add that many sellers think they are saving money by listing the house themselves or hiring a “discount” realtor/broker. Sellers be warned! Choose wisely. The “right” realtor will be knowledgeable in your market area (and will be able to price your home appropriately, if you let him/her), will have extensive contacts and resources at his/her disposal, will give you personal attention and make time for your questions, will utilize a professional for services, such as printing and photography (Have you seen mls listings where the photos are terrible/too small/blurry? This automatically repels buyers from wanting to see that property in person!). All of these things are keys to selling your home at the highest possible price with the least amount of worry and stress.
Q: Which home improvements are worth the investment and which ones can most home owners pass on?
A: Simple things like basic landscaping, painting, and cleaning are the easiest and least expensive ways to spruce up your home and maximize its appeal to potential buyers. Anything that genuinely improves the quality, appearance, and function of a kitchen or bathroom is also worth the investment. As far as major home improvements, adding a fourth bedroom, adding or expanding a master bath, adding an indoor laundry room, expanding a closet, building quarters above or behind your garage – all of those things, if done properly, are sought-after by buyers and will bring you a return on your investment. That said, I would NOT enclose a functioning, two-car garage to add extra living space. It is my pet peeve. Most buyers prefer a two-car garage. I would also pass on re-cementing a driveway or adding a pool (if you are doing it solely for investment purposes).
Q: How important is curb appeal? Should home owners spend some time landscaping before listing?
A: Extremely important, and yes! The exterior (front and back) should look pleasing to a buyer and should photograph well. Minimum or basic landscaping is fine – you don’t need to do anything fancy. Replacing dead grass with fresh, green sod looks a million times better in photos and in person. It changes the whole feel of the home. Weed the gardens and organize pots/plants. I would also recommend powerwashing the outside, replacing any rotten wood, painting, and washing the windows. Just giving the exterior a little “bath” will do wonders to bring people in to your home.
Q: What tips do you have for home owners when it comes to organizing their home and decor to appeal to buyers?
A: Many experts say to get rid of all personal items; however, I definitely have buyers who want to see a “real” home that is lived in and loved by its owner. I don’t think you have to remove all personal items, but definitely edit them down a bit. You don’t have to remove everything from the sides of your refrigerator, but make the stuff that is there look nice. Buyers like a home that feels warm and inviting, and is tidy, smells nice, beds are made and surfaces are shining. Leaving strategic lights and/or lamps on for showings and opening blinds and shutters is a must! If you have the money, it is also a good idea to hire a stager or consultant who can rearrange your existing furniture (even sending some things off to storage) to better showcase your home. Last but not least, I would highly recommend sending your pet to a trusted friend’s house (along with its bed, bowls, chew toys, litter box, etc.) while your home is on the market. You may not smell your pet, but believe me, your potential buyers will.
Q: What do home buyers care about most right now? Is it value? Is it still things like big kitchens and great finishes? Hardwood floors?
A: Yes, buyers want all these things and more. Buyers are looking for the most they can possibly get for the least possible price. That has always been the case, but even more so in this buyer’s market. Buyers either want all the great finishes for a great price, or if you don’t have the great finishes, they want a price that will allow them to make their own upgrades.
Q: What is the most unique or interesting property you've ever sold?
A: Well, I didn’t actually sell it, but I once showed a house to a client – actually, I would have to say it was more of a “compound” - in a Houston suburb. The home had a basketball court, a sauna, a wine room, a theater room, guest cottage, four-car garage…all the bells and whistles. My favorite part was the backyard. Massive pool, huge spa, waterfall, slide, putting green, and an awesome outdoor kitchen/bar area. It was phenomenal. Unfortunately, my client didn’t end up moving to Houston. If he had, I would’ve gladly come to his housewarming party.
Q: What's your favorite part of your job?
A: Not being stuck in an office behind a desk all day!! Although it’s not such a great thing in the summer, I like being able to see and feel the outdoors during the daylight hours. Also, it sounds cliché, but it really is a bonus that I get to meet so many different people with different personality types, unique backgrounds and fascinating stories to tell. Never a dull moment!
Have you sold or bought a home recently? Share your experience in the comments below!
-Veronika
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