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Selling Pencils or Houses? Real Estate Merchandising 101
I'd like to give a lesson on Retailing 101 and how it applies to home sales. For anyone selling a home welcome to the world of Real Estate Merchandising. Let's put it in terms of another retailer though. A retailer of Pencils. If you were the Acme School Supply Retailer of Pencils what would bring customers to your store? Price
Location
Inventory of items needed or wanted
Marketing tactics - TV, radio, print ads, coupons
Customer Service
Time of year
When they need new supplies What would keep your customer coming back? Price
Location
Inventory in good supply & condition
Marketing - TV, radio, print ads, coupons
Customer Service
Time of year
When they need new supplies
ALL OF THE ABOVE What would make them not return? High prices
Too far to go
Poor selection or condition of inventory
Poor service
No more need for supplies
How is selling Pencils any different than Houses you may ask? There isn't really a difference except one costs a whole lot more and the investment on the part of the consumer is HUGE when purchasing a home and home buyers are only in the market for a limited time, until they find a home they wish to purchase. The 3 main ingredients to a Home Sale are: Price
Location
Condition (of the "inventory" aka your house) Check the list above again for the pencils, the first 3 listed are the same. Home sellers, do you know which one of the 3 is TOTALLY in your CONTROL? (And truly, it isn't price if that's what you may be thinking. Price is usually dictated by what the market will currently bear. Even if you feel your home is worth more, listen to your Realtor who will be honest with you and be able to give you the right facts when you list your home. Have you figured it out? CONDITION is what you dear seller have within your control. Just like losing weight you've got to make the commitment to do it yourself, your Realtor can't do it for you. Sometimes you may enlist the help of a trainer for support and guidance in your quest to get healthy. Do you know who the Trainers are that can assist you in getting the CONDITION of your home in top shape? Professional Home Stagers Call one today to schedule your session for getting your home in top form this selling season! Class dismissed. Copyright 2008 Karen Otto
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Contributor's Note
Karen Otto,ASP,IAHSP,RESA,owner of Home Star Staging a Real Estate Staging and Consulting company located in Plano,TX,is an Accredited Staging Professional and a member of the International Association of Home Staging Professionals and the Real Estate Staging Association. Karen is passionate about educating the Real Estate Community on the value and benefits of home staging. Karen currently teaches a CE course on Home Staging at Collin College and is available for workshops and seminars.
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