As a seller or a real estate agent you probably wonder how to start a bidding war? After all, the goal with a home sale is to quickly and easily maximize profit. It’s a question you should be asking. So how can you start a bidding war? How can you sell your home for over-asking price? The key, echoed recently in an article in the New York Times, is home staging. Follow below as I outline why exactly in today’s sophisticated real estate market home staging is the primary way to drive a bidding war for your home.
The Real Estate TV Reality
With content and programming at every turn from our phones, to our watches, to our Instagrams, buyers live in a world where the expectation (note: not the wildest dream) is a pad styled to Pinterest-worthy perfection. Don’t get me wrong, we’re as big of fans of all the fabulous design and diy show as anyone. In fact, White Orchid’s even been on one. But reality design shows have raised the bar for home-sellers.“In the age of the television series “Million Dollar Listing” and online real estate photos, more buyers expect up-to-the-minute style,” notes the New York Times.
Buyers have become more discerning, more sophisticated than ever. It’s the reason why the art of home staging has become than decluttering a home or shifting furniture around. This is especially true given Colorado’s increasingly tech-heavy and Millennial demographics. A bidding war, comes from the fact that home staging is a dynamic transformation of a home – its spatial layout, its design, its architectural features – which projects to buyer’s an aspirational lifestyle.
Is your client still warming up to the idea of home staging? Check out our Realtor’s Guide To Prepping Your Client For Home Staging
Tired Home Syndrome
Regardless of whether it should or not, furniture does set the tone for an entire home. If the furniture appears tired – even in a beautiful luxury home – buyers are inclined to think the entire home is out of date. They may even think the home’s in need of expensive repairs. That’s not something any buyer wants to deal with. It’s certainly not something buyers will start a bidding war over. They’ll walk out the door without giving the home a second though, let alone an offer. Just take a look at this 8,000 square foot Cherry Hills stunner which lingered on the market until White Orchid Interiors staged it.
If a home is on the market empty, buyers are inclined to feel the home is devoid of warmth, personality, and aspirational lifestyle qualities. See how this Boulder new-build started a bidding war to sell for $315,000 over-asking with the help of White Orchid Interiors home staging. If a home appears dark, buyers will think its small and unwelcoming and move onto the next open house.Are you wondering how to start a bidding war? It’s with home staging.
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As a home seller or realtor, the goal is to sell your home swiftly and to maximize value. With that in mind, look to stage your home immediately and then list. Home staging is the key to inciting a bidding war. Avoid the hassle of a lengthy listing, de-listing, staging, and re-listing process. In today’s savvy and design-forward real estate market buyers expect to open a front door and clean, fresh, fun looks they’d find in the pages of a magazine – and they’ll often start a bidding war to get it.