Home Selling Tips

What to Expect When Selling to Generation Y

At Jan 27, 2017

Selling-to-Generation-Y

Learn Essential Tips on How to Sell Your Home to Millennials

For the population Generation Y in new Jersey, finances haven’t been easy. They’ve faced high unemployment, crippling student debt, and a high cost of living. But after years of delaying home ownership, millennials are officially becoming the primary group of home buyers. According to the National Association of Realtors, Gen Y now comprises a third or more of home buyers, and 76 percent of first-time home buyers. Furthermore, this generation is the most likely to buy previously owned homes and older homes.

 

Coccia Real Estate wants to help you understand millennial buyers, and that’s why we’ve compiled our list of tips for selling to this generation.

 

Digital Media is the Standard

It’s been 12 years since Facebook was founded. Since then, social media has exploded with a variety of services. With everything at their fingertips online, you better believe that you are going to need as much quality content as possible. Consider hiring a decent photographer or at the very least, utilizing a camera yourself. Create a video tour of the home. The final presentation is going to go a long way to catch the eyes of these potential buyers. Once you have quality media available, make sure that you’re posting the content on multiple outlets online.

 

If digital technology is a daunting concept, Coccia Real Estate’s superior team of agents will be happy to take the reins.

 

Millennials are Data Driven

While millennials are watching less news and reading fewer books, they’re digesting more information than any generation before due to ease-of-access. Most os Generation Y is going to find out everything they can about the neighborhood, the house, and the real estate agent before making a purchase. Because of this, be sure to provide as much information as you possibly can about your home and its neighborhood. Communities are very important to young buyers and they’re looking to live near places that cater to their interests and passions. If something isn’t being provided, it’s going to draw suspicion. Finally, find an agent with great reviews online, because millennials do place high value in peer reviews and word-of-mouth.

 

Access to Urban Locations Will Increase Home Value

For better or worse, urban proximity has become more valued than lot size. Generation Y is going to be willing to pay more for a home with easy access to New York City, Philadelphia, and New Jersey’s major cities. This is great for homes close to the train or physically close to these locations, but not so good for those who are more remote. There’s nothing that can be done about this, but it is good to know when establishing your expectations.

 

Millennials are Less Likely to Buy a Fixer-Upper

There are always going to be ambitious builders and romantic dreamers who look at a home with some warts to it and see an opportunity. Unfortunately, they are few and far between in the youngest generation. After years of living at home and bouncing from one apartment to another, millennials are less likely to believe that their new house is going to be their last residence. Consequently, long term remodels and upgrades aren’t on their minds. Instead, make sure that the following are a part of the home before listing it for sale.

  • Consider eco-friendly building materials and energy efficient appliances, heating and cooling
  • Make sure the home has easy WiFi access
  • Ensure the house is free of mold, fungus
  • Get rid of old carpeting in favor of wood flooring
  • Open up the kitchen to create a more open floor plan space

 

Work with an Agent to Sell Your Morris County, New Jersey Home

According to the 2016 NAR’s Home Buyer and Seller Generational Trends report, 89 percent of Generation Y bought their new home through an agent. But it’s not just millennials. 87 percent of Generation X buyers bought through an agent, and 85 percent of younger baby boomers did so as well. If you’re selling your home, you need to find the right agency who knows what today’s buyers want and need to feel confident in their purchase.

 

Buy and Sell With Coccia Real Estate

Coccia Real Estate’s team of agents never stop learning. In the past ten years, we’ve become a standard bearer for real estate in Florham Park, East Hanover, Hanover and Parsippany. Find out why today and contact our team.

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20 Easy, Inexpensive Tips for Home Sellers

At Sep 21, 2012

If you are currently selling your home or maybe considering placing it for sale you may want to think about these fast and easy sales tips. Today’s buyer is exposed to the current inventory of homes more now than ever before. The average buyer searches for a home for over 18 months by using the internet to see pictures, videos and neighborhood information. They appreciate modern looks and expect a home to be neat, clean and well maintained.

Here is a list of 20 things you can do to your home to make it more appealing to buyers and increase the sales price.

1. Clean up & de-clutter. Your home will show better and look larger if it is clean and not over flowing with stuff. Use the “less is more” approach with furniture and make the kitchen and baths sparkle. Pay special attention to mirrors, countertops and shower doors.

2. Front door and walkway. It’s true that you can never take back a first impression. Consider painting or replacing your front door. Be sure the front walkway and/or steps are in good condition and not a hazard.

3. Make the home look larger with light. When preparing for a showing of your home open those blinds and curtains. Be sure that the lights are turned on prior to the buyers arriving and choose warm, cool colors rather than fluorescents.

4. Add some color. Feel free to use plants or flowers throughout the home to add color and warmth to a space. Paint an accent wall to make a room look more dramatic or interesting. Today’s hot colors will make your home look more modern.

5. Be aware of odors. Be conscious of musty smells or pet odors and replace them with “fresh baked” smells and candles. Use a dehumidifier to help out with a humid basement. Open windows for fresh air prior to showings.

6. Take a good objective look around. Most buyers today will perform a home inspection prior to purchasing their new home. Take a good look around and fix anything obvious prior to placing it on the market. Buyers will appreciate it and your home will be viewed in the best light possible. Better a buyer sees the work is done and feel they are getting a great home especially when the work may be required to complete the sale anyway.

7. Get rid of dated wall paper and out of style ceilings. Remove wall paper prints that date your home or are no longer in style. Get rid of old “popcorn” ceilings.

8. Flooring. Consider having old carpets cleaned if not replaced and a fresh sanding of weathered hardwood floors is better than a face lift for removing years of age. This is one of the first place investors spend money to make homes more saleable.

9. Clean that garage. A clean garage is a huge selling point. Everyone looks for this space as a place for storage and convenience. Buyers appreciate clean floors and organized spaces.

10. Be conscious of electric. Make sure you have an adequate number of outlets and enough power coming in the home to power today’s modern conveniences. Bathrooms require outlets for hairdryers and razors and kitchens have “high end” appliances that use 3 times the amount of power from just 10 years ago.

11. Door Knobs. Be aware of broken or tarnished door knobs. Consider replacing them with newer more modern finishes to make your home appear less dated.

12. Landscaping. Curb appeal is one of the most important features of home. I recommend the removal of over grown and uncared for bushes, plants and trees. A clean slate to paint a picture for a buyer is easier than trying to get someone to look past a mess. New landscaping with seasonal color and fresh mulch can increase value by as much as 10%.

13. Exterior maintenance. Clean those gutters, paint that trim and make sure garage doors open and close easily. If your home’s paint is peeling or exterior is stained it is very inexpensive to paint or power wash to remove unsightly stains.

14. Clear counters. Yes, you are still living in the home but try and remove clutter from counter tops in the kitchen and throughout the home to make it look as show room ready as possible. This sort of appearance will make a buyer choose your home over others that are similar.

15. Set the scene. Stage an interesting space or room to bring out an intriguing feature or use. Try a rug, chair and lamp to feature an interesting reading space.

16. Monitor closets. Take a look at closets and clean them out so they look more spacious and organized. Consider the use of cubbies or baskets for a neat and clean look.

17. Audit your energy use. Be conscious of power usage within the home and replace energy “suckers” that buyers will appreciate. Try replacing your old thermostats with a programmable one, replace old lights with led or compact fluorescents.

18. Replace filters. Replace filters for water purifiers or furnaces. Buyers will see that your maintaining your home while also keeping these items running as efficient as possible.

19. Toss the Magazines. Throw out all those old magazines that you haven’t got around to reading yet. If you haven’t read them buy now you’re probably not going to!

20. Replace any broken or worn out furniture. Consider replacing or just removing old, torn couches or leather chairs that make a house appear un kept. A table cloth or covers for couches are great tricks to make old furniture appear new.

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