In a sluggish real estate market, putting up a “For Sale” sign and hoping for the best is sometimes not enough. Property owners often need to take extra steps to ensure a good sale. Whether you are considering selling your home, commercial building, or vacant land, there are several important things to consider.
One of those things is knowing how to prepare your property before putting it on the market. Making a good first impression will not only help grab the attention of potential buyers, but increase your chances of selling your property at a price you are happy with, and at the best value. A real estate agent can help you determine your asking price, but the appeal of your property is what will cause people to want to learn more about it.
Since most interest in a property happens within the first 30 days, you want to make sure everything is in order before listing it. Imagine yourself looking at your property the day you bought it. Would you be interested in it again if it looked the way it does now? If not, here are some ideas you can use that might help viewers want to take a peek…
Residential Property
• Depersonalizing your home is at the top of the to-do list when it comes to preparing your house for listing. In other words, what may be your taste might be another’s nightmare. Loud colors aren’t everyone’s favorite, so that bright red wall in your kitchen may need to be toned down to a neutral color. Another way to depersonalize is to remove family photos. They are great for your own family but may be a distraction to another. You want potential buyers to be able to picture themselves and their belongings in your home. Replacing “people” with a scenic photo may be more appropriate.
• Kitchen counters make a good catch-all for papers, utensils, and other odds and ends. When cluttered, it may appear that there is no counter space, even though there is. Be sure your counters are clear and dirty dishes are washed and put away.
• Nothing turns a buyer off more than an offensive smell. If you smoke or have pets, putting a fresh coat of neutral paint on the walls will help diminish odors. You may not have recognized any scent because you are used to your home. Cleaning your carpets, if any, will also help with odors and gives the room a fresh, clean appearance.
• Overflowing closets may give the false impression that there is no storage space. This is the perfect opportunity to sell some items and get rid of what you no longer want or need.
• The outside of the home is just as important as the inside. Curb appeal is the first thing a viewer will see. If they arrive to an overgrown garden, or weeds and brush scattered everywhere, chances are they are already turned off. You want people to know you have taken care of your home not only on the inside, but on the outside as well. Simple tricks such as adding a few flowers or touching up trim with paint can make an incredible difference.
Commercial Property
Growing a business takes time, patience and hard work. While you may enjoy it, there comes a point where you may need to sell it. You want to be sure you are attracting the right buyers so you receive the most for your property and without taking a loss to what you have invested.
• Be sure your paperwork is in order. If the building involves apartments and tenants, their leases should be current and files in order. This will spare the next owner from having to dig through a mess to find information.
• Inspections on the building should be up to date. If your property requires safety inspections, electrical inspections or similar, having them up to date will ensure the potential buyer that the building is ready to go with less chance of any surprises later.
• Upgrades, especially with apartments, are important to consider before listing. A buyer will look at things such as toilets, faucets and lighting. Upgrades will help cut costs later and increase net operating income. Upgrading may possibly generate higher rent, providing more income opportunity to the potential new owner.
• Staff can play an important role in the sale of your property. If your property has a leasing agent, cashier, accountant, maintenance person or housekeeper, their job performance may determine if the new buyer will keep them on as their staff, or hire new employees to replace them.
Land
Although you don’t necessarily have to worry about clutter, odors, painting, and carpet cleaning, there are still two things that need to be considered when preparing a vacant piece of land for the market:
• Make sure you keep the land free of weeds and brush, as with a home. You want viewers to be able to envision their new home or business on this land and keeping it clear is the answer.
• If the land is mostly dirt, keeping it smooth and free from rough edges and clumps creates a cleaner presence.
Staging
One final suggestion in preparing your property for sale is the art of staging. The term “staging” is not new, but the concept of bringing it into a home for sale is increasing in popularity among real estate agents. In fact, they recommend it. Think of it as a production, not decorating.
Staging is typically used in residential homes, but it can be used for commercial property as well. Staging does not have to be costly. There are things you, as the seller, can do. Some prefer to hire a professional stager. Your personal budget will determine the best route to take.
The asking price of your property should help you decide how much you want to spend on staging, should you choose this option. Most professional stagers are happy to provide a free estimate. How simple or elaborate the decorations used are also factored into the cost.
An important tip to keep in mind, is, you are competing with other properties on the market. If you want the best price, you want to show yours in the best light possible and create the best impression. Viewers form an opinion within the first 30 seconds of seeing your property, so make it count. you want your property to stand out and turn heads. Staging helps to create the cozy, warm, atmosphere that potential buyers are seeking.
Any type of Sri Lanka property, whether a home, commercial building, or vacant land, requires time and effort in preparation for the market. Potential buyers always remember the positives and negatives of what they were shown. You don’t want a viewer to remember that leaky faucet or run-down garden. This will leave them thinking about all of the work and repair needed, and additional money they will need to spend. With several properties for sale, give them something good to remember, and chances are they will return with an offer on yours.
