Recently, I read an Inman News article called “5 Outdated Seller Beliefs Agents Should Debunk.” Inman News is viewed as a leading authority for real estate related news.
The article mentioned three fundamental changes that have altered the home buying and selling landscape forever.
Change #1 – The advent of HGTV.
Buyers spend a lot of time watching HGTV (Home and Garden Television) and as a result, have pretty refined tastes. The result is that they have a high bar when it comes to looking for a home – they want a home that looks similar to what they have seen on television.
Change #2 – The advent of mobile devices and HD internet connectivity.
In the old days, buyers had to visit a home to decide if the home should be added or removed to their short list. With the mobile device (basically, a computer) homeowners have about seven to ten seconds to impress the buyer on their mobile device. If the buyer decides NO to a home, they often do not come back.
Change #3 – The advent of internet real estate sites like Zillow, Realtor.com and Trulia and other websites provide a lot of information for “would-be” Buyers . . .
Property data, historical facts, HD pictures, automated valuations, neighborhood and school info, and more. Buyers take a look at what is online and only visit the select few homes they like.
The article goes on to say that not only have these changes revolutionized the way buyers search for and view homes, but has also transformed what they buy, as well. Today’s buyers are more comfortable with tech than construction (i.e., remodeling or updating a home) and are willing to pay a little more to get the move-in ready home that looks like what they have seen on HGTV. A question I get asked all the time is “Can I buy your staging?” They want to purchase the home and move right in . . . with staging intact!
Selling a home in today’s market is ultra-competitive. The home with a wonderful location, great floor plan and in excellent condition (think the underlying condition, the updates the Seller has done and way the home shows (i.e. staging)) and that is priced well is the one Buyers will go after!