Money Meter and Time Meter Triggers
Buying a home is one of the largest financial decisions for most people. Conversely, selling your home is an equally large process and many times more important, as taking the next steps in your life may hinge on selling a home.
With the continued acceleration of internet use and social media and the advent of HGTV and other similar media, today’s buyers are much more educated and discriminating than just a few years ago. Sellers are also much more aware and educated to the nuances, sometimes subtle, in today’s real estate market.
When meeting with potential home sellers, many are tuned in to the need to “prepare” their home to sell. Where many miss the mark is on what needs to be done to maximize value and appeal of their home while minimizing costs and marketing time on the market. One of the most important services The Patrick Trimble Team provides for sellers is in visiting the home and reviewing top to bottom, inside and out to make recommendations on what should or should not be done to “prepare” the home for sale. This home prep consultation is an all important first step on the road to selling your home.
Most buyers want new construction or “like new” construction. Yes, many buyers say they want older homes with the character and charm but when it finally gets down to it most buyers opt for new or like new because of modern and updated amenities and less maintenance involved. With that said, your objective as a seller is to present your resale house with the fewest amount of “time meter triggers” and “money meter triggers”. Let me explain.
Meter triggers start as soon as that buyer pulls up to your home. They look at the yard and landscaping which is a bit rough and they say to themselves, this is going to take some time to correct, so the time meter starts to move in their heads. They get to the front door and it needs painted so the time meter moves again. They get inside the home and the carpet needs to be replaced so the money meter starts to move. As the buyer moves room to room through the home, the more time and money meter triggers they encounter the less the buyer will like the home. Most of it is subconscious and subtle but it is real and it does kill the interest for that buyer. At best, they may still be interested, but if they write an offer, they will “punish” the seller on price because of all the issues that need to be addressed. Keep in mind that instinctively, most buyers overestimate the amount of time and money it will take to correct the deficiencies.
Remember most buyers want new or like new. Your home is a resale so it is not new. Your objective as a seller is to remove as many of the meter triggers that you can. This is where our home prep consultation becomes invaluable.
We have a 5-point plan which applies to all home sellers on the steps and processes in readying your home for sale. This plan analyzes costs and benefits of what needs to be done as well as setting priorities. Our goal is to maximize the value of your home while minimizing the marketing time. This is done in a systematic structure to allow our homeowners to manage the process efficiently. The 5 points are:
*The home must be clean.
*The home must be decluttered.
*The home must be neutralized as much as possible.
*The home must be functional.
*The home may need to be updated where possible and if necessary.
This is a simple 5 step plan but requires thought, planning and execution to maximize the benefits for the homeowner. Please give Patrick a call at 717-475-0955 if you want to discuss selling your home.
Chairman’s Circle Diamond Member
Berkshire Hathaway Homesale Realty
150 North Pointe Boulevard
Lancaster, PA 17601