Homebuyers – What They Want and How to Attract Them!


Homebuyers – What They Want and How to Attract Them!

Which Cupcake is the Most Appealing?

Do You Have a Preference?

Appearance and Condition Matters!

What Homebuyers Want

Buyers want a space that is warm, clean, spacious – and welcoming!

Recipe for a Successful Home Sale

• Location
• Condition
• Price
• Terms
• The Market
• Preparation and Packaging
• Presentation and Promotion

Home Staging Defined

Home Staging is the process of preparing a property for sale* so that it appeals to the largest number of home buying consumers. This occurs by highlighting the space as well as the light and architectural features of the space to create an emotional reaction in the buyer’s mind.

* Working within the client’s budget and timeframe.

Home Staging Statistics

Staging maximizes your return on Investment:

• 95% of ASP® staged homes sell in 11 days or less …
• And sell for up to 17% more than the other comparable unstaged listings (Stagedhomes.com, 2015)

The first price reduction on your house is often far greater than the investment in Staging.

Tax Deductible Expense (IRS Code 523) … Be sure to consult with your professional tax advisor!

Home Staging Statistics

National Association of REALTORS® 2015 Profile of Home Staging:

• 96% of Buyer’s agents say that Staging has an affect on how Buyers view a home
• 81% of Buyers say that a Staged Home is easier to visualize as their future home
• 52% of homebuyers are willing to pay 1% to 20% MORE for a Staged home than for similar un-Staged homes!

What You Need to Know About Buyers

More than 90% of homebuyers look online for homes for sale first. They want a “turn-key” property: Turn the key, open the door, and do nothing but move in.

Buyers only know what they see, not the way it’s going to be! They cannot visualize what isn’t there.

Buyers are challenged by….

• ‘Visual noise’
• Saturated colors
• Dated finishes
• Deferred maintenance
• Odors/dirt

What Buyers Are Looking for Today

Just like a product on the shelf at the store, the purchaser of today buys the best available product, in the best wrapper, at the best price, that best meet his or her needs.

The Millennials

• 29% of Home Buyers (up from 5 years ago)
• 36% currently live with their parents

Why aren’t they buying?

• $50k avg. student debt
• 10% unemployment
• Only 32% married (down 10% from other generations at the same age)

What are they looking for in a home?

• Multi-family or non-traditional shared-space living
• Casual entertaining space
• Office/hobby/computer room
• Space for personalization

The Generation Xers

• 31% of Home Buyers
• Still growing as Buyers

Why aren’t they buying?

• Primary Buyers during the Housing Bubble
• Primary losers in the burst of Housing Bubble
• FEAR: The lost value in their current home

What are they looking for in a home?

• Single family residences
• Older homes
• Close proximity to their last residence (kids)

The Baby Boomers

• 30% of Home Buyers
• Most experienced Buyers

Why aren’t they buying?

• Lessen financial burden as they grow older
• Grow an estate for their children
• Financial necessity or to follow dreams

What are they looking for in a home?

• Multi-generational
• Second home
• Condo or townhome
• New construction
• Senior related amenities

What You Need to Know About Home Stagers

• We appreciate assessing your property early in the process
• We love your clutter but want it boxed up anyway
• We also understand you don’t like to pack
• We love your animals but must minimize their presence for buyers

We Stage the property with the target buyers in mind. We Stage knowing that the buyers will view properties on a computer screen first.

• We transform properties in just hours/days
• We use existing furnishings and décor when appropriate
• We rent furniture, décor, artwork and accessories as needed to our sellers
• We make your property stand out from the competition
• We increase Buyer traffic to and through the property
• We work with your real estate agent to ensure success
• We create wealth for our sellers

Top 10 Reasons to Stage Your Property

1. Only 10% of the population can visualize the potential of a home
2. You have only one opportunity to make a great first impression
3. Sell your property faster
4. Make more money on the sale of your property
5. Houses that sit on the market “deteriorate” in value
6. You cannot be objective about your property
7. Online photos will stand out amongst the competition
8. ’As is’ condition only helps sell the competition
9. The investment in Staging is virtually always far less than a reduction in your asking price
10. Creates an environment that encourages Buyer traffic and generates offers.

The Goal of Home Staging

To sell your property for top dollar and in the shortest amount of time possible!

Hiring a Home Stager? What You Need to Ask:

• Are they trained, and if so, by whom?
• Are they insured?
• Do they have references?
• What is their success rate?
• What is their process … how do they work?
• Are they a member of any trade organizations?
• Can they show you photos of their work?

But beware:

• Not all Home Stagers are formally trained
• Real estate agents market and sell properties, Home Stagers stage houses
• Pricing that is ‘too good to be true”

When You Stage Your Property

By Staging your property, you will set the scene throughout your house to create immediate buyer interest in your property.

What You’ll Hear When a prospective home buyer walks into your house, they will say …

“Wow! If I buy this house, I can live like this!” and “This is it! This is the one!”

“If your house is not ready for a photo shoot, then it’s not ready for the market either.”

I’m Gorgeous Inside!


I’m Gorgeous Inside!

Why Professional Home Staging and Photography Are So Important in the Marketing of Real Estate

“Boys think girls are like books. If the cover doesn’t catch their eye, they won’t bother to read what’s inside.” ― Marilyn Monroe

I’m Gorgeous Inside!

• There’s a house in my neck of the woods.
• It’s up for sale.
• There’s a sign rider over the agent’s ‘For Sale’ sign.
• That sign rider reads: “I’m Gorgeous Inside”

My first thought when I saw that sign? That must be one ugly house!

Conventional wisdom suggests the sign would make potential home buyers curious about how gorgeous the inside of the house really is.

But, by drawing attention to the “Gorgeous Interior” of the house with a sign, the home sellers are also prompting scrutiny of the outside of the property.

By calling out a feature that can’t be seen until prospects walk through the door, it draws more intense focus on what can be seen — which is the front of the house.

Suddenly, a strange thought went through my mind. What if people came with signs like that? You’ve probably heard the expression, “beauty is more than what meets the eye.”

I think that’s true. I’ve seen a lot of “beautiful” people who look gorgeous at first glance. Then, after a closer look, they became very unattractive. A pretty face is nothing if you have an ugly heart.

In addition, there are many great Websites that prevent potential users from getting a true taste of what’s inside without registering first — Websites like Angieslist.com and Livingsocial.com, to name a few.

To draw a comparison, it’s as if you can’t see what’s gorgeous inside (the value of the website and membership) until you walk through the door (the registration process).

There are many great houses for sale that prevent potential users from getting a true taste of what’s inside because they lack curb appeal.

We live in a world obsessed with physical appearance. If you want buyers to come inside, then you must do something with the outside of the house.

When I saw that sign, I imagined that cozy house pleading with potential buyers as they drove by: “Please, give me a chance. You’d be surprised if you’d just take a closer look.”

The house was okay. It lacked a little curb-appeal, but it certainly wasn’t a “dump.” I wondered what it looked like inside. Was it really gorgeous?

“When the inner beauty exceeds the outward beauty – it creates a magical dance in the heart.” ― Angie Karan

Photography

This is an excellent illustration of why professional home staging and photography are so important when you’re marketing and selling real estate.

Curb Appeal and Photography

Today, more than 90% of home buyers will view pictures of homes for sale online — long before they actually go out and see them in person. Many buyers will even view online real estate listings on their smartphones or mobile devices. Unfortunately, home buyers today will choose whether or not they want to see a particular house simply by how it looks in photos online.

Home Staging and Photography

The entire marketing and home selling process needs to be extremely well thought out — not only with the exterior of the house, but with the design and functionality of the interior of the house as well.

The combination of curb appeal, staged rooms, and professional photography connect well with potential home buyers online today. And a house that looks great in pictures will often be put on the top of a buyer’s “must see” list!

Recipe for a Sale

There are 7 main ingredients that will make up the sale of your listing:

• Location
• Condition
• Price
• Terms
• The Market
• Preparation and Packaging – Repairs, Cleaning, Decluttering, and Home Staging
• Presentation and Promotion – Photography, Marketing, and Advertising

A correct listing price that is based on the other 6 ingredients is the most influential factor … • … while professional Home Staging and photography are the 2nd most influential factors … • … in getting your listing sold for top dollar and in the shortest amount of time possible.

Online Images

Images are one of the biggest reasons Internet marketing has become so popular. (2007 NAR Profile of Home Buyers and Sellers)

80% of Internet shoppers say images are imperative when deciding to buy or use a company’s product or services. (2006 Pew Study)

No matter how good the interior of your listing looks, potential home buyers will have already judged it before they walk through the door.

People will want to see the inside of your listing IF your curb appeal draws them in, not because of a sign telling them so.

Home Staging is a Powerful Marketing Tool

You owe it to your clients to make a strong first impression by helping them make their house look the best it can …  … because the first impression is the only impression buyers will have of your listing! You will never get a second chance to make a great first impression. Having beautiful pictures of a Staged home is critical in order for prospective buyers to click on, not move on.

Remember: home buyers, real estate agents, appraisers, and home inspectors know only what they see, not the way it’s going to be! Professional Home Staging and photography will make all the difference in helping you get top dollar for your listing in the shortest amount of time possible!

You can’t change the real estate market … … but you can change how you market real estate!

“If your listing is not ready for a photo shoot, then it’s not ready for the market either.”

10 Reasons Why You Should Stage Your Home to Sell


10 Reasons Why You Should Stage Your Home to Sell

1. You Will Make More Money

– According to the National Association of REALTORS® (NAR), the average staging investment is between 1 and 3 percent of the home’s asking price.
– But it generates a rate of return of 8 to 10 percent!

2. Your House Will Sell Faster

– A recent Accredited Home Staging® survey revealed that staged homes sell much faster than non-staged homes.
– 95% of staged homes sell on average in 11 days or less while non-staged homes typically sell in 3 months or more.

3. The Longer Your Home is on the Market, the Lower the Sales Price Will Be

– A recent National Association of REALTORS® survey found that after 4 weeks on the market, homes on average sell for 6% less than the ones that sold within the first 4 weeks!
– Don’t be in a position where you have to lower your asking price – have your home professionally Staged®!

4. Home Staging Provides a High Rate of Return on Your Investment

– In a 2009 Home Gain Survey of over 2000 REALTORS®, it was discovered that home staging typically provides a 586% return on investment!

5. Most Home Sellers Cannot View Their Homes Objectively

– If you can’t see your home objectively, then you can’t package it effectively.
– Have an ASP® Home Staging Professional get your home into its most advantageous position for showings.

6. Only 10% of Home Buyers Can Visualize the Potential of a Home

– That’s why Staging® a home is so crucial. You don’t want all the advantages your home has to offer overlooked and left up to the buyer’s imagination, do you?

7. Your Online Photos Will Stand Out Among the Competition

– According to a recent NAR Profile of Buyers, more than 90% of home buyers are searching for homes for sale online first before deciding to visit.
– Give buyers a reason to drive to your house by having multiple professional high quality photos of beautifully Staged® rooms that will stand out among the competition!

8. The Money You Spend on Home Staging May Be Tax Deductible!

– Take advantage of a possible tax-free capital gain by getting every dollar possible for the sale of your home, while getting a possible tax deduction for spending on Staging® services to improve and sell your home.
– (Note: Be sure to consult with your accountant or legal tax advisor!)

9. Leaving Your Home in an “As Is” Condition Will Only Help Sell the Competition

– Right now, the number of homes on the market is low. However, buyers have very high expectations.
– Successful real estate agents know that the key to competing in today’s market is professional Home Staging® and photography because it creates compelling online presentations, drives buyer traffic to the home, and turns prospects into buyers.

10. You Can Relax

– You will have the satisfaction of knowing you have done absolutely everything possible to effect a quick sale of your most valuable commodity – and for top dollar!

Successful Marketing to Home Buyers

– “The way you live in your home and the way we market and sell your house are two different things.”
– Savvy home sellers and real estate agents understand that in order to get offers and top dollar for their listings in the least amount of time possible, they need to have it professionally Staged® by an Accredited Staging Professional (ASP®).
– By Staging® your home, you will set the scene throughout your house to create immediate buyer interest in your property.
– Here at Decora Photography, our experienced team of highly trained Accredited Staging Professionals will create “emotional connection points” throughout your home so that when a prospective home buyer steps into your house, they will say … “If I buy this house, I can live like this!”
– A single day with Decora Photography’s team of Accredited Staging Professionals will make all the difference in the selling price of your home! And potential buyers will walk in and say:

“This is it! This is the one!”

“If your listing is not ready for a photo shoot, then it’s not ready for the market either.”

Visit ElectroSawHQ.com to learn more about How to Prepare Your House for Selling

Photography for Real Estate Agents


Photography for Real Estate Agents

Photography for Real Estate Agents How to take better pictures of your listings.

“A photograph is shaped more by the person behind the camera – than by what’s in front of it.”

Why Great Photos is So Important
 How a listing appears online has become the 2nd most important element on the road to a successful sale … … the correct listing price is the 1st.
 And listings that are professionally staged and photographed generate an average 139% INCREASE in clicks compared to similar listings that are not professionally staged or photographed.

Why Great Photos is So Important
 Think of a property listing in terms of a personal profile on a dating website
 … the pictures should be as flattering as possible without tipping into outright deception.

Why Great Photos is So Important
 You owe it to your client to make a strong first impression by making your listing look the best it can
 … because you won’t get a second chance to make a great first impression.

The Basics of Visual Psychology – 4 Basic Elements:
 Light and Bright
 Disorienting Interiors
 Composition
 Distractions

Basic Element: Light and Bright
 People are not attracted to dull and dark.
 People are attracted to light and bright.
 Rooms should be painted in a neutral white or light color.
 There should be sufficient sunlight or interior light to help make your photos look brighter.
 If necessary, use a flash.

Basic Element: Disorienting Interiors
 We spend most of our waking hours inside buildings.
 We have a well-developed mental model of how interior spaces should look and work.
 If interiors are too different from this mental model – in terms of color, perspective, verticals and/or horizontals – we feel “weird.”
 “Weird” distracts from the effective presentation of interiors.

Basic Element: Composition
 Most people intuitively recognize when a photo works – and when it doesn’t.
 When presenting interiors visually the way a photo is framed, what’s left in and what’s taken out contributes to it effectiveness.

Basic Element: Distractions
 You want to remove all distractions that don’t aid in presenting the features of the home before you take pictures.
 For the exterior of the property, this includes:
– People
– Dogs, cats, and other furry friends
– Cars, trucks, campers, and boats
– Kid’s toys and yard tools
– Dead plants, shrubs and trees
– Miscellaneous “stuff”

 For the interior of the property, this includes:
– Family photos
– Knick knacks and collectibles
– Any evidence of children and pets
– Clutter and miscellaneous “stuff”
– Clearing off countertops and refrigerators
– Pre-packing personal items Decora Photography

How Photos Work for Real Estate Agents
 For real estate agents, there are 3 compelling reasons for using great photography to present your listings:
1. Your home seller clients will be pleased with how you’re presenting their properties;
2. You will get more showings and potentially multiple offers; and
3. According to a 2010 Redfin study, properties with enticing photos will often sell for $900 to as much as $116,000 MORE than properties without high quality photos.

 In addition, there are 3 reasons why great photos and marketing materials will help you get more listings:
1. Neighbors of the listing property will carefully watch to see how it is being marketed – including how long it takes to sell;
2. If they like what they see, they most likely will ask that agent to list their property when the time comes to sell; and
3. If you are competing for a listing, the commitment to home staging as well as professionally done photography, virtual tours and marketing materials can help you win the listing.

How Photos Work for Home Sellers
 My experience is that home sellers never have trouble understanding the benefits of home staging, great photography, and virtual tours.
 They “get it” right away and will choose a listing agent who provides a great marketing service over the ones who don’t.
 And some will demand it as part of your overall service!
 The first thing home sellers look for when a choosing a real estate agent to list their home is a comprehensive marketing plan.
 According to the National Association of REALTORS® Profile of Home Buyers and Sellers – 2010, 80% of home sellers worked with an agent who could provide a broad range of services.

How Photos Work for Home Buyers
 Today, more than 90% of home buyers use the Internet as an informational resource during their search for homes for sale.
 With popular real estate syndication sites and social media networks, consumers are able to proactively find properties on their own.
 As real estate agents, you should know – more than anyone else! – that most home buyers nowadays search the Internet before they come and visit a property.
 While 83% of home buyers find detailed property information useful …
 85% of home buyers find photographs very useful;
 61% of home buyers find virtual tours extremely useful!
 Researchers have also found that people who search for homes for sale online spend a total of 8 seconds viewing the first photo of the house …
 Not just any photo, but the one that shows the exterior of the home.
 You can say that home buyers are judging books by their covers.
 Without home staging, eye- catching photos and virtual tours, the battle is lost before it begins …
 With a simple click of the mouse, prospective buyers will move on instead of in.

The Purpose of Real Estate Photography
 Home staging, high quality photography, and virtual tours are the central components of marketing a property.
 And the primary function of home staging, high quality photos, and virtual tours is –
 To get prospective buyers to come look at the property!

How Photos Work for Real Estate Agents
 Today, more than 50% of home buyers searching homes for sale on REALTOR.com will pass over the listings that do NOT have a virtual tour.
 You can be certain to say that home staging as well as quality photos and virtual tours (or lack of) will have a major impact on their decision as to whether or not they will tour YOUR listing.
 Your connection with potential home buyers depends largely on your ability to provide them with detailed property information through numerous avenues –
 That includes:
• Detailed property descriptions
• High quality photography; and
• Virtual tours

How Photos Work for Home Buyers
 Overall, when viewing a real-estate listing online, home buyers spend:
• 20% on the property description; and
• 20% on the real-estate agent remarks secton
 But, home buyers spend:
• 60% of their time on the photos

The Purpose of Real Estate Photography
 While the photo of the front of a property with great curb appeal is the primary reason buyers will choose to look at more photos of your listing …
 … home staging, great photos and virtual tours are the reasons they will choose to tour your listing instead of the other homes on the market. D
 Your job as a listing agent is to find a willing, ready, and able buyer for your selling client.
 By enhancing the property’s interior beauty with home staging and professional photography, you can turn the odds of closing the deal – sooner rather than later – and for top dollar – in your favor.
 I get it – not every property is amazing.
 However, to get the deal closed, the strong points of the listing must be exposed and highlighted!
 Home staging, finely crafted professional images and virtual tours can make all the difference in setting your listing apart from all the other homes on the market.

10 Essential Elements of Photography
– Set up the space
– Create great curb appeal
– Use the correct lighting
– Use a wide angle lens
– Choose the right perspective
– Eliminate blurring
– Vertical lines must look perfectly straight
– Horizontal lines must be level
– Don’t let bright windows or color casts distract
– Be versatile and don’t keep buyers in suspense

Online Photos Have an Impact on the Effectiveness of Marketing a Property
 Selling real estate is all about marketing and setting yourself – and your listing – apart from the competition.
 It’s also about getting the most amount of money for your clients in the shortest amount of time possible.
 Home staging and professional photos of the property are your first – and quite often the only – impression your listing has to make to the majority of buyers who are searching for homes online.
 You’re the listing agent who was hired by the home owners to market their property …
 It’s up to you to make the MLS and other online photos of your listings both eye-catching and memorable!

You can’t change the real estate market …
… but you can change how you market real estate!

“If your listing is not ready for a photo shoot, then it’s not ready for the market  either.”

Why Great Photography is Crucial to Selling Property


Why Great Photography is Crucial to Selling Property

“The best time to sell a house is in the first 3 weeks!”

DATA COLLECTION

• Data was collected on all listings activated from January 1 – December 31, 2010, in Long Island and the Boston Metropolitan Area, using MLSLI and MLSPIN, the listing services used by brokers in those areas.
• These MLSs were chosen because they were the only ones that provided photo metadata.
• All short sales and bank-owned listings were excluded, nearly all of which are priced to sell despite usually being photographed haphazardly – if at all.

DSLR PHOTOS …

• Digital Single Lens Reflex (DSLR) photos increase the likelihood of a sale for listings priced above $300,000.
• But for listings across all price bands:
• It drives 61% more online attention;
• Is associated with a 47% higher asking price per square foot; and
• Helps sellers command a selling price significantly closer to their asking price.
• The sale-to-list ratio was higher by an amount between 0.4% to 6.0% of the listing price – worth between $934 and $116,076 in increased equity.

INCREASE THE CHANCE OF SELLING

• Asking Price Above $300k – DSLR Photos Raise the Likelihood of Selling

COMMAND A HIGHER ASKING PRICE $

• Listings Shot with DSLR Cameras Have a 47% Higher Asking $/Square Foot

SELL AT A HIGHER SALE-TO-LIST PRICE 8

• Sale to List Price Asking Price Sale-to-List Prices Significantly Higher Across All Price Ranges

AND SELL IN LESS TIME

• Asking Price At $400K – $1M Price Ranges, DSLR Photos Associated with Faster Sales

AND YET:

• Only 15% of listings were photographed with a DSLR.
• Only 44% of $1M+ listings were photographed with a DSLR.
• Incredibly, 591 listings (0.75%) were photographed with a camera phone.
• Over 2,000 listings (2.6%) had no photos at all!

Type of Camera Used

• Point-n-Shoot – 63,774 (80.89%)
• DSLR – 12,171 (15.44%)
• Cellphone – 591 (0.75%)
• Unknown Camera – 246 (0.31%)
• No Photo – 2,063 (2.62%)

MARKETING YOUR LISTINGS

• Selling real estate is all about marketing and setting yourself – and your listing – apart from the competition.
• It’s also about getting the most amount of money for your clients in the shortest amount of time possible.
• Images are one of the biggest reasons Internet marketing has become so popular. (2007 NAR Profile of Home Buyers and Sellers)
• 80% of Internet shoppers say images are imperative when deciding to buy or use a company’s product or services. (2006 Pew Study)
• People will make a snap – and often unconscious – judgment about a listing based on just the first photo of the property …
• They are judging a book by its cover!
• Think of a property listing in terms of a personal profile on a dating website …
• The pictures should be as flattering as possible without tipping into outright deception.
• You owe it to your client to make a strong first impression by making your listing look the best it can …
• … because you won’t get a second chance to make a great first impression.
• You’re the listing agent who was hired by the home owners to market their property …
• It’s up to you to make the MLS and other online photos of your listings both eye-catching and memorable!

You can’t change the real estate market …
… but you can change how you market real estate!

“If your listing is not ready for a photo shoot, then it’s not ready for the market either.”