how to increase home value and market appeal

How to Increase Home Value and Market Appeal

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Whether you’re getting ready to sell or simply want to make your home more attractive, understanding how to increase home value and market appeal can make all the difference. From cost-effective upgrades to design touches that catch buyers’ eyes, this guide walks you through proven ways to boost your property’s potential and make it stand out in today’s competitive market.

Fresh paint

A fresh coat of paint offers one of the highest returns on investment when selling a home. A new coat of paint instantly refreshes spaces and increases buyer appeal at a relatively low cost.

When choosing a color palette, select neutral paint colors to help buyers envision their own style in the space, creating a clean and versatile look.

Kitchen and bathroom upgrades

Kitchen and bathroom touch-ups and upgrades are important because these high-traffic areas can affect buyers’ impressions. However, keep in mind, you don’t need a full remodel to make an impact. Small upgrades, such as replacing outdated hardware, installing new light fixtures or updating faucets, can transform the space.

For bathroom updates that offer a strong return on investment and signal the home is well-maintained, try regrouting tile, caulking any cracks, replacing mirrors and updating backsplashes.

New flooring

Next on the list of how to increase home value and market appeal is new flooring, as it instantly refreshes the home’s look. To eliminate signs of wear and create a polished look, replace old flooring with a durable option such as hardwood floors or luxury vinyl plank.

Energy-efficient features

Modern buyers are prioritizing energy efficiency and sustainability more than ever before. Upgrades like LED lighting, smart thermostats and updated appliances not only reduce utility costs but also demonstrate the home is modern.

If your budget permits, these types of updates can attract eco-conscious buyers. Remember to highlight these energy-saving improvements in your listing.

Decluttering and staging

Decluttering helps create a clean, open space that will make potential buyers feel like it’s move-in ready. Additionally, removing personal items can allow buyers to envision themselves in the home.

What’s more, staging can help highlight the property’s best features and demonstrate how each room can be used effectively.

Curb appeal

Buyers often decide whether they’re interested in a home before stepping inside. Simple exterior updates, like trimmed hedges, fresh mulch, clean walkways and a manicured lawn, create an inviting first impression.

Little touches, such as seasonal flowers, updated house numbers or a new mailbox, can also elevate curb appeal without a big expense.

Summary 

Bottom line? Knowing how to increase home value and market appeal can lead to a successful home sale. Connect with a Lee County Association of REALTORS member for a smooth and successful real estate journey! And continue reading our blogs for more industry news and tips.

make your open house a success

8 Ways To Make Your Open House a Success

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As a Realtor in a competitive marketplace with inventory continually increasing, are you doing all you can to make your listings stand out? Planning an open house? Here are eight ways to make your open house a success in 2024! 

Focus on the main objectives. 

Remember the three main objectives of having an open house to make your open house a success. First, an open house generates leads. Second, it’s a time to promote your brand. And the third objective is to sell the listing. 

Hence, every step you take before, during and after the open house should help achieve those goals. 

Research the area.

Before the open house, get to know the ins and outs of your listing and those of similar listings in the area. 

Go beyond online research and do a walk-through of some of the properties, and note what features each offer that your listing may not and what your listing offers that they do not. Then, you will be ready to share your local knowledge with comparable details on your listing and others in the area if a potential buyer asks. 

Schedule appropriately. 

And when it comes to scheduling, know your market. Will an afternoon or after-work open house be best? Or are weekends more flexible? Don’t forget to check the community calendar to plan your event around other popular happenings in town. 

Use your network to partner with another local business. 

Partner with one or several local businesses for cross-promotions. Whether it’s a local restaurant or bakery providing small bites and sweets or an interior designer offering a raffle item or a free consultation, create excitement with your open house.  

Promote your open house.

Use various strategies to promote your open house. Consider writing a blog about the upcoming event and feature the home on your website. If you posted a property showcase on the home, re-share it on your homepage with a new graphic and blurb about the upcoming open house.

Share the open house details on social media, including any cool cross-promotions, giveaways and more. Create print materials to reach a wider audience. Send direct mailers to target markets. Hand out fliers, hit the streets with door hangers and post unique signage. 

Make it an event.

Showcase local talent and have live music in the living room or backyard. Display the works of local artists and host an “art exhibition.” Max out your cross-promotions with raffles and giveaways.

Have a sign-in sheet.

Start by kindly letting guests know upon entering that the homeowner requests each visitor sign in for security purposes. But instead of a pen and notebook, hand them an iPad and use an app like the Open Home Pro, for example. 

Be ready to answer buyer questions.

Demonstrate your expertise by being prepared to answer common buyer questions, ranging from house background to information about the neighborhood. A few common questions include how long the sellers have lived there, why they are moving, the age of the appliances, the average monthly utility bill and how old the roof is.

Summary

Finally, make your open house a success by having informative handouts and promotional items set out. Share statistics about the home, the neighborhood, local services, the school district and other helpful information. Have water bottles with your name and contact info printed on the labels. Bring other seasonal goodies, like sunglasses or hats, with your logo to promote your brand. Keep reading our blogs for more Realtor tips and news! 

an overview of seller concessions

Real Estate Defined: An Overview of Seller Concessions

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Buying a home is a big deal. Selling a home is a big deal. There are a lot of moving parts and factors to consider on both sides, including the cost. But costs can quickly go beyond a list price. Let’s look at an overview of seller concessions as an example.

What are seller concessions?

The best way to begin an overview of seller concessions is to explain what seller concessions are exactly. To simplify, seller concessions can sweeten the deal and could help expedite the selling process.

More specifically, seller concessions cover specific costs associated with buying a house that the seller agrees to pay. Seller concessions could include certain home improvements or repairs as well as some of the closing costs.

For instance, seller concessions may include several different fees such as the inspection fees, appraisal fees and the attorney fees.

Even though seller concessions can help lower the upfront costs and attract buyers, there are pros and cons for both buyers and sellers.

Seller concessions for buyers and sellers

For buyers, the upside to seller concessions is it can save you a significant amount at the closing table, making a home more affordable. This can also allow potential buyers the chance to make a higher offer, which may have a better chance of standing out in a competitive market.

From the seller’s perspective, seller concessions may speed up the sale of your property by making it more attractive to buyers in a crowded market.

Summary

Now that you’ve read an overview of seller concessions and what they could mean for you as a buyer or seller, reach out to your local Realtor to discuss your next move within our market. You can also learn more about our local market, real estate trends and other industry news by reading our blogs!