Seller's market conditions persist in cities across the country, as inventory continues to fall short of demand. Under these kinds of conditions, sellers typically enjoy competing offers from buyers.

But that doesn't mean sellers should skimp on the home staging. By staging your house for buyers, you can increase the chance for a quick sale and a full-price offer. And those are good things!

What Is Home Staging?

Home staging is when you take proactive steps to make your house more appealing to the majority of buyers. "Majority" is the key word here. Some people will dislike a certain property no matter what kind of staging is done. Taste is subjective, after all. But there are certain steps you can take to make your property appeal to the majority of potential buyers. And that's precisely what home staging is all about.

The staging process can include such things as:

* Landscaping the yard, when applicable
* Painting the inside and/or outside of the house
* Replacing outdated fixtures with modern ones
* Arranging, adding, or removing furniture to maximize space
* De-cluttering the entire house
* Cleaning the house thoroughly from top to bottom

In some cases, these kinds of actions might be unnecessary or even cost-prohibitive. For example, a new or recently updated home with modern fixtures won't require any new knobs, sink handles, or light fixtures. But an older home with outdated fixtures might need extra attention (unless the fixtures are antiques that add charm).

What's the Point?

Now you know what home staging is, and what it involves. But what's the point? What can you get out of it, as a home seller?

As a seller, your mission is to sell your house as quickly as possible, and for the best possible price. Staging can help you achieve these goals, and in several ways. It creates aesthetic value, which helps to support your asking price. It presents your home in the best possible light, which will make buyers more inclined to make an offer.

Above all, effective home staging helps you set your house apart from others that are listed for sale in the area. This is especially important in a crowded market with many similar properties for sale.

When buyers look at a well-staged home, they tend to say things like:

"I got a great vibe from that house."
"I didn't want to leave."
"I could see myself living there."
"The owners have taken good care of that house."
"It seems nicer than the other homes we've looked at."

This is the kind of mindset that can lead to an offer.

Home staging allows you to create a favorable impression in the mind of potential buyers. And these kinds of impressions tend to "accumulate" as the buyer moves through the home. So if you stack enough of them in your favor, you'll have a much better chance of landing a strong offer. And that's your primary goal as a seller.

Do you plan to sell a home in 2018? If so, it's time to start thinking about your asking price. Better yet, you could work with an experienced real estate agent to determine your list price. It's one of our specialties. In this article, we'll look at the reasons why it's so important to price a home effectively, in order to get a quick sale.

Pricing Your Home to Sell Quickly

When selling a home, you can set the initial asking price in one of three ways. You can price it to sell quickly, eventually, or not at all. The first option is the one that appeals to most sellers, for obvious reasons.

The primary goal when selling a home is (A) to get the highest possible price, and (B) to sell within the shortest time possible. So let's talk about how you would price a home to sell it more quickly.

When selling a home, it can be helpful to change your mindset from "owner" to "seller." In reality, you're both of these things. You're the person who owns the home, and you're also the one who is selling it. But you'll want to think more like a salesperson than a homeowner, especially when it comes to pricing your home for the market.

Here's a short maxim to help you adopt a salesperson's mindset: "It's not personal. It's business." You can repeat this little mantra when determining your asking price, and when negotiating with buyers. The personal and emotional connection you have to your home does not translate into market value.

Depending on when you first purchased your home, there's a good chance it has risen in value. The reason is that home prices across the country have generally risen over the last few years -- and they continue to do so in most cities. So you'll want to have the property evaluated by a real estate agent prior to setting your price. Your agent will review recent home sales in the area and other relevant data to figure out what your house might be worth in the current market.

The Market Determines Value

And speaking of the market, that is what determines how much your home is worth. The primary market forces of supply and demand dictate how much a seller can charge for an asset (in this case, a house). So it's important to analyze the broader real estate market -- and not just the house itself -- when deciding on your initial asking price. This is another area where an experienced agent can guide you.

Setting the list price too high is a common mistake among sellers, particularly those who go it alone without an agent's help. We live in the Information Age. Thanks to the internet, home buyers are more price-savvy than ever before. Most buyers conduct a lot of research before entering the real estate market. So it's important that you establish a realistic asking price based on (A) recent sales activity and (B) the unique features of your home.

Pricing is one of the "Three P's" of a solid home-selling strategy. The other two P's are preparation and promotion. If you want to sell a house quickly and for top dollar, you must prepare it for the market, price it wisely, and promote it widely.

Have questions? Please contact me if you have questions about selling your home, or if you'd like a market analysis to help determine a good price. This is one of my specialties. I can help you avoid common pitfalls and support your price with current sales data.