You may or may not have heard about what they call the three Ps of real estate — price, presentation, and pictures.
Did you know how important this little trio of Ps is to selling your house in the speediest manner and for the most moola possible?
All the Ps have great significance when putting a marketing plan in place, and any one of the Ps not being implemented property can have a “profound” effect in the length of time a home is on the market, said Greer Haseman, a realtor with Gagliardo Realty Associates in River Forest.
“Through presentation, which means the home has been de-cluttered and touched up where necessary making it ready for high quality photos, you create a dynamic visual which will be appealing to the buyer pool,” said Haseman. “With almost all buyers relying on the Internet for their first showing, a home that is not presented properly will suffer from slow activity.”
The last part of the puzzle is the price, as it must also fit within the tapestry you are presenting to the market, said Haseman.
“When all three are a good fit, usually sellers and buyer are able to attain a win-win transaction,” she said. “When this happens, the closed transaction will also generally strengthen the marketplace.”
The three Ps are all related, but really, the end outcome starts its journey in the presentation of the property, said Steve Scheuring, an agent with Baird & Warner of Oak Park.
Is it clean? De-cluttered? How’s the curb appeal?
“I tell my sellers, ‘Make this house look like you are throwing a party for royalty,’ then call me and we’ll come over and shoot it,” said Scheuring.
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But presentation is more than just photos, he said.
“Remember, the buyer is going to be walking through the house,” said Scheuring. “My photographs absolutely get them to desire the home online and get them to come through the door. The rest is up to the seller.”
In every listing, agents help the owner prep the house for market, Scheuring said. What colors are going to appeal to the buyers? What furniture stays, what furniture goes? Get the windows cleaned, service the boiler and heating, ventilation and air conditioning, clean the gutters, clean the litter box or loan the cat out to a relative for a month — the list can be long, said Scheuring.
Then there are those houses you just walk into and their idea of a market-ready home is like magazine cover quality, he said.
“So look at what you have and make it look the best you can,” said Scheuring. “For then, and only then, will you be able to be priced at the high end of what you have to offer in a specific market category.”
Felicia Dechter is a freelance columnist for Pioneer Press. Got a real estate-related story idea? Email [email protected].