nyc BLOG estate

nyc BLOG estate

Selling Your Home in a Buyer's Market



What do NYC Sellers Have Control Over?
  • Location? No
  • Room Count? No
  • Square Footage? No
  • Floor? No
  • View? No
  • Building Amenities? No
  • Ceiling Height? No
Your home is a commodity - Control the Sale process.
What sellers actually have control over:
  • Price: Nothing matters more than the initial list price. Buyers and buyers’ brokers are very tuned into to marketplace valuation and the power dynamic shifts to the sellers when an attractive pricing means an apartment is seen as something to be pursued actively. If your goal as a seller is to get the most amount of net proceeds at closing in the shortest most efficient way, an attractive price is the only way to achieve that. Even in very soft markets, a well priced opportunity will attract a great deal of interest and offers and an overpriced one will not.
  • Sales Site Preparation: The way a home looks, feels, smells and presents is very important. Buyers make very fast decision when they walk into a home or first see the pictures online. I’ve watched the evolution occur where more and more buyers have spent a great deal of time scrutinizing pictures and then arrive to either have their impressions confirmed or disappointed. Sellers need to invest in creating an appealing home that buyers want to live in.
Some Obvious Suggestions That Can make a Difference
  • Clean and Clean! The home should be sparkling clean, not just for the first Open House but for every single showing. No dust. No clutter not a single thing that will result in a negative reaction. Sellers do well to remove into storage as much as possible.
  • Depersonalize. Buyers want to imagine living in their home not yours. Sellers should remove all or most photographs, kids drawings or overly personal and items.
  • Paint. A fresh coat of paint can be one of the best investments you can make to increase the value of your apartment. Keep colors neutral and light.
  • Stage. This means hiring a professional to come to your home and rearrange, bring in new furniture and generally make the home as appealing as possible. Simply swapping in new towels, sheets  etc can have a huge impact. An empty apartment can be virtually staged at a lower cost that can help buyers visualize the space furnished. 
  • Marketing. The Price you get is a function of the Marketing you choose. 
  • Negotiating Attitude: This is a key component of a successful deal and one that is hard to convey. Years of negotiating deals has given me a sense of the tone, attitude and timeline expectation. A good broker will walk the line between keeping the pressure on to get clients to act but not scaring them away with overly aggressive tactics
More tips on increasing your home's value through home sales preparation in Manhattan Home Enhancement Guide.

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