A New Market
Speed Selling and Today’s Buyers BY NORMA FLASKERUD COVID-19 is changing the home buying process. Visitor numbers are down significantly as open houses are indefinitely banned. In keeping with local showing rules, before visiting in person, buyers must sign COVID-19 related disclosures, and adhere to specific time frames. Because of the restrictions, buyers are using online pictures, even 3D tours to dramatically shortlist the homes they will visit. It’s a win-win for buyers and sellers. Buyers can spend more time sitting on their sofas viewing homes, and sellers endure less risk of COVID-19 exposure. Sellers Prepare For Speed Dating The best analogy for understanding what’s happening in real estate is online dating. Prospective partners have very little time — mere seconds in fact — to make a good impression. Translated to homes, a seller has approximately seven seconds to make a positive impression before a consumer moves on. With today’s showing limitations, buyers will not visit a home unless they like what they see in those first seven to ten seconds online. The new reality? If you only get seven seconds, learn how to make those seconds count. Today’s Buyers A high percentage of today’s buyers do not want fixer-uppers. Most millennials have no idea how to improve a home and are willing to pay a premium for move-in-ready digs. Current buyers spend a lot of time viewing HGTV and as a result, their tastes have been refined. A significant percentage of buyers are looking for turn-key homes with upscale amenities. We tell our sellers that when their homes go on the market, they are not competing with other listings in their neighborhood — they are competing with HGTV.
There is also a growing sense of “entitlement” in today’s homeowner wannabes. Many believe they “deserve” a home with upscale features and are not willing to live in a home that does not have the level of amenities they believe is essential to their lifestyle. Preparing sellers for current buyers’ trends 1.Educate Classic seller arguments include, “We want the buyers to upgrade the home the way they want to,” or “If we replace the carpet, the buyer may not like it and we will have wasted our money.” These arguments are effectively dead since most of today’s buyers do not want to fix up homes. When sellers ask why they should spend money to upgrade when a buyer might change things once they move in, the response is, “If you can spend $1,000 to make $2,000-$3,000, does it matter what buyers do when they move in?” Sellers must understand that buyers are looking for homes that meet their criteria, not the seller’s. Homes that resonate with current buyers’ tastes will reap significant rewards, while homes that do not will languish on the market, selling for less than they could have. Factoring in a scarcity of contractors and the headache of completing a remodel, buyers are willing to pay a premium for a recently updated home. 2. Maximize Buyers want updated kitchens and baths with solid-surface counters, contemporary tile, upscale laminate floors, and more. Today’s time-stressed buyers do not have the time, energy or even the know-how to fix up a home. Most will gladly pay a premium for gorgeous, move-in-ready properties. 3. Stage Given that you have seven to ten seconds to make an impression, staging is essential. it’s all about staging for the the online pictures. 4. Showcase
Listings should include 30 to 40 professional high-quality photos optimized for mobile devices, virtual tours and more. 5. Prioritize Pick photos that display the best features first. Start with a great shot of the outside then show key areas such as the bedrooms, bathrooms, laundry room and include lots of yard shots. If they like what they see, they will follow up with a visit in person. We have a team of contractors who can provide you with recommendations for flooring, paint choices and staging to guide you along seamlessly! Call the Flaskerud Team: (or text) 925-766-6679 Norma, 925-381-7276 Erik, Re/Max Accord DRE#00867031 NormaJ49@gmail.com SPONSORED CONTENT
CARPET • HARDWOOD CUSTOM RUGS LINOLEUM • TILE Family Owned Business Since 1989 3344 Mt. Diablo Blvd. Lafayette, CA
925.284.4440
www.LamorindaFloors.com License# 708486
COMING SOON:
5 Wildwood Place, Pleasant Hill $1,225,000 280 Fairway Dr., Danville $1,600,000 125 Collins Ct., Pleasant Hill $899,000
JUST SOLD:
120 Collins Ct., Pleasant Hill $950,000 140 Collins Ct., Pleasant Hill $850,000 1796 Ardith Dr., Pleasant Hill $740,000
CURRENT LISTINGS FOR SALE: 1958 Pleasant Hill Rd., Pleasant Hill $720,000 258 Jennifer Way, Pleasant Hill $865,000
It is a strong seller’s market; call now for your market analysis!
925.766.6679 OURCOMMUNITYFOCUS.COM | AUGUST 2020 | 3
