What Not to do When Selling Your Vacant Property
If you are a landlord, selling new construction or have recently relocated then chances are you may also be selling a vacant property. Listing a vacant property is similar to listing a non-vacant property but there are a few key things that will make or break the property’s selling potential. Below are some of the most common mistakes sellers make when listing a vacant property.
Leave It Empty
When listing a property, you want buyers to envision it as their home, not just a house. Empty rooms are more difficult for buyers to picture their belongings in. Staging allows for the buyer to see the full function of each room and how it can best suit their lifestyle.
Staging a home may cost additional money but it must be viewed as an investment.
If done properly it gives the opportunity for a higher sales price and it helps the home to sell faster. There are a few avenues to consider when staging; One technique is virtual staging.
Virtual staging companies use photos of a vacant home and add furniture digitally. This is very useful for online listings. Note: When homes are virtually staged, it must be disclosed on the listing.
With traditional staging, sellers can rent furniture, purchase consignment furniture or purchase floor model furniture. This helps keep staging costs down and if furniture is purchased sellers can offer it with the home as an incentive to buy.
Forget The Landscaping
While the inside of the home is important to stage, don’t forget about the outside. Curb appeal is important for both vacant and non-vacant homes. The outside should be cleaned and freshly painted if needed. Landscaping should be freshly mulched and weeded.
One challenge that is different for vacant homes is routine yard maintenance. Hire a landscaping business to mow the yard, weed and rake leaves. In the winter months arrange to have sidewalks and driveways plowed and shoveled. Remember to cancel newspaper subscriptions that may clutter the porch or yard.
Deter theft by keeping security systems on or investing in sensor lights for the outside of the home. Lastly, have someone check in on the home every now and then to catch any issues that may arise such as water leaks or bursting pipes.
Play The Waiting Game
It can be tempting for sellers to try putting a vacant home on the market with no staging at first to see if it can sell without spending extra money on staging. This is typically not a good tactic because as with most things in life, first impressions are everything. Do it right the first time. Stage the home properly and then list it.
If a vacant home is listed with no staging and gets no offers or showings then that period of time on the market was wasted. The quicker a home is sold the better. Homes that sit on the market for over 4 weeks begin to look stale and are often passed over by buyers. If the property has been staged and the home still has trouble keeping the showings up, then sellers may need to look into additional tactics to selling the property.
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