CAPE is an acronym our team uses to help sellers remember the elements that can make or break their home sale. Condition, access, price, and exposure are all key to attracting the most buyers and getting the most money possible from your sale. Today I’ll break down each of these elements and explain why they’re so important to stay on top of.
First, a home’s condition is something that the seller has complete control over. Think of it this way: The buyer needs to envision themselves living in your space, so the more you can do to help them imagine living there, the better. Here’s how you can help that along:
- Declutter. Remove any clutter that will ruin the buyer’s fantasies. Pack your extra belongings away or get rid of them altogether.
- Paint. A fresh coat of paint can help a buyer envision living in your home, but period color is important, too. If you have questions about what colors are best, I’d be happy to advise you about what’s currently popular in the real estate market.
- Flooring. If a buyer thinks that they’ll have to change the home’s flooring when they purchase your home, they’ll be less likely to consider your listing. Deep clean your current flooring or replace it altogether to grab a buyer’s attention.
Next in our acronym is access. Access is another thing a seller has total control over. Keep in mind that buyers want to see homes when they want to see homes. Particularly when they’re working with real estate agents, those homes that don’t offer wide access for showings may get overlooked. It’s typical for some sellers to be reserved about when they want to show their homes, but the more available a property is, the greater the number of buyers willing to see it, and the more potential you’ll have for receiving offers.
Third, keep pricing in mind. If you overprice your home far beyond its market value, you’ll have few, if any, showings. Generally speaking, if you get no showings for your home, that indicates that your home is overpriced by 10% or more. If you have showings but receive no offers, that could mean it’s overpriced by 5% to 10%. If you get showings and offers, but these offers are lowball offers, that generally means that you’re somewhere between 2% and 5% over market value. When you home is priced properly, you’ll likely get many showings, receive multiple offers, and the property may even sell for higher than your list price.
Finally, remember exposure. The agent you work with can help you to maximize the exposure your property receives—in other words, how many people see your listing—not only on the MLS, but also on all the websites where people are looking at homes. Make sure that the photography used to advertise your home shows it in its best light, and also be sure to track what is being said about it.
If you have any questions about CAPE or about anything related to real estate, please feel free to reach out to me. I’d love to help you.