You just landed a smaller-than-average listing. Now you have to figure out how to capitalize on the square footage to help the house stand out in your marketing. Desare Kohn-Laski, broker-owner of Skye Louis Realty in Coconut Creek, Fla., offers these three ideas that both agents and brokers can use to make a small home a hot sell.
- Identify the target market. There is a segment of buyers who are attracted to smaller homes. With millennials entering the market for the first time and baby boomers downsizing in retirement, smaller homes are becoming more appealing. These buyers are looking for homes that fit not only their budget but also their lifestyle, says Kohn-Laski. Consumers you may want to target with these properties include single professionals, retirees who can't manage big houses, or even couples without kids, she says. But of course, you must always adhere to fair housing guidelines.
- Take advantage of home staging tricks. "No matter how small the square footage of your house is, it can look bigger through proper home staging," Kohn-Laski says. Rearrange furniture or use size-appropriate furnishing to create more open space. Let natural light in through the windows, opt for lighter paint colors with cooler tones, and don't forget to have sellers thoroughly clean and declutter.
- Highlight particular selling points. Sure, bigger houses offer more space, but sometimes it's the amenities nearby or character of a listing that makes it a coveted commodity. Is it close to a shopping district or urban center? Is there nearby access to public transportation? Because of its smaller size, utility bills such as heating and air conditioning will most likely come in lower, says Kohn-Laski. It also means less square footage to maintain and possibly a smaller yard to care for.