picture perfect
Issue 110 - November 18th, 2022
First impressions always leave a lasting impact on people’s thoughts when you meet them in real life.
First impressions of homes while consumers are browsing on Zillow or other online portals can make or break momentum when you first list a home on the market.
In today’s evolving market, home sellers need to go the extra mile to make certain their homes look impeccable to online shoppers. Home buyers today get alerts as soon as properties go “active”, and they usually make a very quick decision on whether or not they “love” the home within the first 3 photos on a listing.
If they love the first few photos, they may keep swiping and they might even read the description which then probably leads to a text to their spouse/family member/friend before scheduling a showing with their agent.
As we head into the Fall & holiday season with a turbulent housing market all over the country, home sellers need to dial in the small things that make your house shine online:
Make sure the lawn looks impeccable
Clean off patios and outdoor areas prior to photos
Remove all items from kitchen and bathroom countertops - clutter kills the vibe in photos even if you love your collection of 17 cookbooks that no one else cares about seeing in the pictures
Make sure all lightbulbs work; buyers start thinking things are wrong with your house weirdly if a lightbulb is out in a photo
Don’t shoot the photos with tons of holiday decor because photos look cluttered and will look weird in January if home is still on the market
Less is more; reduce clutter in closets and generally make the house look cleaner and more organized
Change air filters, tighten up loose doorknobs, and do all of the handyman maintenance items you have been putting off for years
Keep the listing description short and sweet and just highlight key areas of the home. There is ZERO need to write out how many bedrooms, bathrooms, and other details there are in the home in the description - let the photos sell the home and entice people to come see it in person
Videos, floor-plans, virtual tours are a must have these days to stand out against other homes on the market
Make sure your photos are “in season” meaning update the photos if the last photos you had taken were 6 months ago - it is always worth the additional dollars to have updated, expert photos for your listing
Newsworthy Links To Share
Fun fact: According to a story in Business Insider last week, of the 1.2 million Airbnb listings in the US, 62% have been added since 2020. That’s 744,000 new short-term rentals, likely in markets where inventory and affordability were already a problem. People sometimes wave off things like this — think ibuying, and institutional buying too — as not big enough to materially impact the housing market. But if several new small things happen at once, very rapidly, well, the aggregate impact is not trivial, and the hangover is real. (1000 Watt)
US homebuilder sentiment dropped to a decade low (CNBC)
Trends Report dives into compensation, 'a core issue for the industry'
An Interview with Opendoor CEO Eric Wu About Building a Marketplace in a Real Estate Slowdown (Stratechery)
Welcome to London. Americans are cashing in strong dollars to scoop up luxury homes.
The city has seen an influx in Americans buying property at the top of end of the market in affluent areas including Holland Park, Notting Hill and Chelsea.
Parity play. The pound's plunge has helped to woo buyers but some are waiting on the sidelines for sterling to reach parity with the dollar to pounce on the right deal.
Foreign boost. The surge in deep-pocketed buyers who usually go for cash transactions has propped up the market, which has otherwise seen bids plunge as costly mortgages deter buyers. (Bloomberg)
Airbnb single-room listings jumped 31% in Q3 amid cost-of-living crisis (RT)