Welcome to my first installment in a 4 part series that I'm filming about marketing. You've likely heard about the three textbook aspects of marketing: Product, promotion, and price. However, I have added a fourth aspect which is the Professional that you hire. Today I will be examining the product.
#1 Aspect of Marketing: The Product
- Repairs: Sometimes there are mandatory and necessary repairs like a leaking roof, a broken AC unit, or a malfunctioning furnace. You absolutely must fix these things. The return on these investments can sometimes be upwards of 300%.
- Updates: Perhaps you have an old and outdated bathroom with green or blue tile. You don't need to throw a bunch of money into completely renovating these areas, but you need to consider how you can minimize the effect of that dating. Sometimes just putting a new coat of paint on can work wonders.
- Cleaning and Removing Clutter: This is where you will find the biggest return on an investment, but it will come at the expense of your own labor. You need to vacuum air vents, clean crevices, polish windows and even clean the screens on them. Clean like you have never cleaned before, and then hire a carpet cleaner or whoever else you need to make your home sparkle. Ask your realtor for his/her preferred cleaners if need be.
- Remove Collections / Neutralize Your Home: Get rid of fine china, trophies, pictures, or whatever you've accumulated through the years. You might love it, but this will only distract a home buyer during a showing. You want the buyer to focus on the spaciousness of your living room, not on your vast collection of sports memorabilia. Hire a stager if you're having trouble, or have your agent hire one. Put your belongings in a storage unit. It's best to get them cleared away if you're going to be moving out anyway.
- Repainting: If you have not repainted your home in the last 3-4 years, I would highly recommend doing so. If you're child painted his/her room pink or purple in the past, you need to repaint it. I'm a huge fan of earth tones because they are very neutral and inviting. Khaki or beige with white or off-white trim has been proven to work with buyers in studies, so you might consider that.
The goal of this first step is to get your home in the condition where it can appease the largest amount of buyers possible. Do the work and contact me with any further questions because I would be glad to help. You can contact me at (585) 712-3010 or (585) 279-8250 or you can reach me via my website: www.jeffscofield.com
