THIS ISSUE: Which Renovations Pay? / Word Of Mouth ARCHIVES: www.privatelist.com/newsletter.htm Which Renovations Pay? According to a study published by the Appraisal Institute of Canada (Renovations and Home Value Survey, 1995), here are the contributions to resale value that various home improvements typically make, relative to the cost of the improvements themselves:
These figures back up the suggestion that one of the cheapest and most effective ways to enhance your home’s appeal in preparation for a sale involves a roller and brush. This is particularly true inside, where a fresh coat of paint enhances not only the look, but also the smell of the house. Just be sure to stick to neutral colors! WORD OF MOUTH Sellers sometimes overlook the oldest, simplest and least-expensive form of advertising available to them: word of mouth. Don’t be shy! Everyone you know - at work, at the grocery store, at the barber shop - should be informed that you’re selling privately and that your property can be viewed online. Why? Because even if you feel an acquaintance may have no interest in your sale, their mentioning it to even one or two subsequent contacts may be the start of a chain that leads - sometimes very quickly - to your buyer. Most of us have met people who seem to “know everyone.” These are individuals who simply enjoy meeting other people - who have a knack for making and maintaining an incredibly wide range of contacts from all walks of life, and who also get a kick out of hooking people up with eachother. Sociologists who study such things have found that often such "facilitators" function as the living, breathing equivalent of Internet routers, sending and receiving vast amounts of information, news, gossip, tips, rumors, advice, innuendo, nonsense and wisdom through personal channels that can quickly combine to span continents. Even if you’re the world’s loneliest loner, you may be only one or two acquaintances removed from such a gateway to a vast web of personal, business, and family connections. Furthermore, information received through informal networks is often deemed more reliable, current and actionable than that provided by more formal media. So take every opportunity to mention your private sale, emphasize your web-site display ("We’re online at www.privatelist.com.") and get the original internet working for you. FRIENDLY REMINDERS . . . It's important to maintain an active marketing focus until your property is sold. Just an hour every week-end, spent reviewing progress to date and mapping out a response, can pay real dividends. Therefore, each e-mail version of PrivateList PROACTIVE ends with a series of reminders, and links to tips and tools for your on-going campaign. To access these resources, press here.
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