Sunday, July 15, 2018

Home Staging Adds Value to Your Home


When virtually every visual marketing aspect of a listing agent’s efforts are on the internet in nanoseconds and permeates the internet through many real estate portals like Realtor.com, Zillow, and MLSLI.com in minutes after that, it’s clear that the first impressions of a home are critical to the selling process.

As a seller, you are inviting hundreds of thousands of people into your home through the internet, with the hope that they will be motivated to come see it and make an offer.  It’s important then to put your best foot forward.  If you were inviting friends over for a get-together, you certainly would tidy up inside and outside, maybe buy new cushions, add flowers, put out your best linens, etc.  So too, when you put your home and the market it’s important that both the exterior and interior of your home be “nicely staged” for the internet and the prospective buyers who visit. 

In a survey* conducted by the National Association of Realtors, almost all buyers' agents said that staging has a positive effect on buyers and 49% of buyers' agents, reported that staging a home increases its dollar value by an average of 3-8%.  Also, 50% of sellers' agents report the value added from staging averages between 3-9%.  While 5% of agents reported an increase of 11-15%. 

We understand that changing the furniture around and decluttering may feel intrusive, but keep in mind, the facts support a positive outcome in terms of a faster sale and increased dollar value for sellers.  While all real estate is local, and many factors play into what a home is worth and how much buyers are will to pay for it, staging is the extra step sellers take to help sell their home more quickly and for a higher dollar value.

At Beninati Associates, we have seen the positive results of staging – higher selling prices and faster closings.  We have our own professional home stager and furnishings to enhance your home’s d├ęcor and there is no added cost for our clients.  Call us at 631 765 5333 and let us help you sell your house


*Source:  NAR 2017 Profile of Home Staging, www.nar.realtor/reports/profile-of-home-staging.


Sunday, July 1, 2018

Disclose or Let Sleeping Dogs Lie


When you select your Realtor and you sit down to discuss the features of your home for marketing purposes, it’s also important to be absolutely candid with your agent about the condition of the property.  If there is a problem with the roof, plumbing, wiring or structure, discuss this openly with your agent.  Your agent is your partner in the sales process and can help you sort out what is a “material” defect and what is not. 
            
Some things that may annoy you about your home and seem like a major problem to you, for example, your frig icemaker or a burner on your stove doesn’t work, are not “material” defects – although they will likely be detected during a  home inspection.  Other things which you may have been living with, may be “material” and require disclosure and/or corrective action. For example, a leaky roof or  construction work including electrical or plumbing work that has been done where no permits or c/o’s (certificates of occupancy from the building department) have been obtained. 
          
  It is unlikely that “material” defects or lack of c/o’s will go undetected because most buyers have an inspection before signing contracts and their attorneys secure title searches and c/o’s before the deal is consummated.  Structural problems and “material” defects (leaking roof, foundation defects sometimes cause a deal to fall apart, or at the very least, require price adjustments. However, when “material” issues are disclosed your agent can diffuse concern of the unknown by getting estimates to correct the deficiency by framing the cost and effort involved to repair with a potential buyer.  Most buyers can usually deal with a house with some issues, if they know what they are getting into from the beginning.  Usually these issues can be resolved when all parties come to the table with a sincere desire to make the deal.
           
When you decide to sell your home, discuss significant issues with your Realtor and address defects and missing c/o’s before you put your home on the market.  Also, ask your Realtor to assist you in providing the appropriate disclosure to potential buyers.
           
For professional advice on all aspects of buying or selling real estate call us at 631 765 5333, visit our website at www.BeninatiAssociates.com and come see us!  We’re open 9am to 5pm seven days a week and our office is at the corner of Main Road and Hortons Lane in Southold.