Putting an Empty Home on the Market is Leaving Money on the Table
Putting an Empty Home on the Market is Leaving Money on the Table
Thanks to popular television programs such as “Flip This House” and the multitude of similar shows a lot of people are tempted to try their own hand at house flipping. It’s a great way to make some money, if you have the right home in the right neighborhood at the right time. However, many of these real estate investors miss the mark when the time comes to list the house for sale.
While much care is taken to choose the perfect new kitchen cabinets and counter tops, tile for the bathrooms and gorgeous flooring for the living room, when these homes go on the market bare naked, money is being left on the non-existent dining room table.
It’s not just real estate investors that make this mistake. Real estate agents and home sellers who decide to list a vacant property are also missing out on the greater profit potential they could enjoy if the empty rooms were decorated by a home stager.
There are a few key reasons why it’s a very bad idea to list an empty home. Here are five points to consider:
1. People buy homes, not houses. When someone walks into a big empty house, it’s difficult for them to picture their lives there. An empty home can feel depressing and make prospective home buyers feel melancholy rather than excited about the possibility of moving in.
2. If there isn’t a point of reference such as a dinette set or a sofa in a room, it’s difficult for a buyer to judge the size of the space. Contrary to popular belief an empty room appears much smaller than a properly furnished one.
3. If there isn’t any furniture in a space, people have trouble visualizing how their own belongings will fit. If they aren’t sure, chances are, they aren’t buying. That's even more true in a slow real estate market where buyers feel no urgency to buy and there are lots of homes to look at in their price range.
4. Upon walking into an empty room, the potential buyers’ focus goes from falling in love with the overall space to all of the small negative details that might otherwise not factor into their buying decision. A small stain on the carpet, a missing outlet cover, uneven drywall, or a poorly fit molding will be magnified in the eyes of the buyer when there’s nothing else to look at.
5. When a prospective home buyer is touring an empty house, or even a home with a handful of empty rooms, they often become distracted. They wonder why the house is vacant. When they begin asking themselves whether this is a divorce situation, or a case where the vendor was forced to move quickly, they are going to jump on the idea that the seller is desperate enough to entertain a low-ball offer. Who wants that?
So after investing a significant amount of time and money into a house you plan to flip, why not spend a bit more money before listing on a home stager so your flip will sell faster for more money?
Putting an Empty Home on the Market is Leaving Money on the Table - To learn more about this author, visit Staging Diva's Website.
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When a real estate investor sinks tens of thousands of dollars and hundreds of hours of labor into renovating a home, it’s puzzling when the renos are complete and they decide to list the house before the paint has had a chance to dry! The house will often go to market without furniture or accessories of any kind, drastically lowering its full profit potential.
Thanks to popular television programs such as “Flip This House” and the multitude of similar shows a lot of people are tempted to try their own hand at house flipping. It’s a great way to make some money, if you have the right home in the right neighborhood at the right time. However, many of these real estate investors miss the mark when the time comes to list the house for sale.
While much care is taken to choose the perfect new kitchen cabinets and counter tops, tile for the bathrooms and gorgeous flooring for the living room, when these homes go on the market bare naked, money is being left on the non-existent dining room table.
It’s not just real estate investors that make this mistake. Real estate agents and home sellers who decide to list a vacant property are also missing out on the greater profit potential they could enjoy if the empty rooms were decorated by a home stager.
There are a few key reasons why it’s a very bad idea to list an empty home. Here are five points to consider:
1. People buy homes, not houses. When someone walks into a big empty house, it’s difficult for them to picture their lives there. An empty home can feel depressing and make prospective home buyers feel melancholy rather than excited about the possibility of moving in.
2. If there isn’t a point of reference such as a dinette set or a sofa in a room, it’s difficult for a buyer to judge the size of the space. Contrary to popular belief an empty room appears much smaller than a properly furnished one.
3. If there isn’t any furniture in a space, people have trouble visualizing how their own belongings will fit. If they aren’t sure, chances are, they aren’t buying. That's even more true in a slow real estate market where buyers feel no urgency to buy and there are lots of homes to look at in their price range.
4. Upon walking into an empty room, the potential buyers’ focus goes from falling in love with the overall space to all of the small negative details that might otherwise not factor into their buying decision. A small stain on the carpet, a missing outlet cover, uneven drywall, or a poorly fit molding will be magnified in the eyes of the buyer when there’s nothing else to look at.
5. When a prospective home buyer is touring an empty house, or even a home with a handful of empty rooms, they often become distracted. They wonder why the house is vacant. When they begin asking themselves whether this is a divorce situation, or a case where the vendor was forced to move quickly, they are going to jump on the idea that the seller is desperate enough to entertain a low-ball offer. Who wants that?
So after investing a significant amount of time and money into a house you plan to flip, why not spend a bit more money before listing on a home stager so your flip will sell faster for more money?
Putting an Empty Home on the Market is Leaving Money on the Table - To learn more about this author, visit Staging Diva's Website.
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Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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