05/24

Don’t place that vacant home in a corner.

A new study from Redfin found that vacant homes sell for $11,306 less and spend six more days on the market than occupied homes for sale.

Which…might be surprising.

While vacant homes allow for easier access for potential buyers to view the listing, these empty spaces seem to be a reason for buyers not to rush on placing a bid on the home. Redfin also suggests that sellers who are in a position to own a vacant home for sale might not be as motivated to receive a higher price as sellers who might need the cash from their sale in order to purchase another home.

Vacant homes, while allowing potential buyers to picture their own personal touches, might seem intimidating to buyers; clients might not be able to envision how the space could be utilized. However, if a home is still currently occupied, the sale will depend on what type of furniture is still in the home.

Redfin agent, Billie Hermerson, explains: “If a home is occupied and the furniture is up to date and fits in the space, it has a positive impact on a potential buyer’s perception of the home and they may pay more than if the home were vacant. But if a seller’s furnishings are dated, dark, or too large for the space, buyers may offer less.”

Other options include staging companies, or setting up a virtual staging online.