Maritha Keil Discusses BVI’s Booming Real Estate Market and the Significance of Curb Appeal

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BVI Sotheby's

1) Tell us about any new developments or business establishments in your market that you think might help attract potential buyers.

The recent real estate market is much more active in the British Virgin Islands than it was several years ago. There are well priced homes ranging from $300,000 to $11,000,000, something for every buyer. The BVI is a great draw as a getaway due to the crystal blue waters and white sandy beaches. It is considered the sailing capital of the world. BVI Sotheby’s walks the client through every step of the buying process to facilitate the sale and make dreams come true.

2) Name the top two online or social media outlets you use most frequently when a new property becomes active. How do you use these sites to your advantage when advertising your listing?

Facebook and Twitter are used most frequently at BVI Sotheby’s.

3) With springtime now approaching, are there certain properties you expect to get more attention than others? How can sellers make their properties more marketable in the spring?

Properties that get the most attention are priced well and present themselves well. Curb appeal is very important.

See below for an article by Maritha Keil about the importance of curb appeal:

Preparing a Residential Property for Sale

This column will address preparing a residential property for sale. This strategy has become recognized as a very important part of the sale process and there are even numerous television programs which address this topic. The bottom line is to make your property attractive to the potential buyer to facilitate a sale.

The first consideration in preparing a property for sale is “curb appeal.” When approaching a property, how does it look? Is there debris in the yard, is the landscaping overgrown? Does the doorway and front of the building need a coat of paint? Sometimes the cost of improving a property is minimal and just requires some effort. When arriving at a property, a potential buyer develops a first impression, let it be a good one. A property with attractive curb appeal will definitely facilitate a sale.

The next step is to make the interior of the home more attractive. There are many aspects to this, from paint colors to furniture arrangement. Take a good look at your home and begin with the less costly adjustments. To start, get rid of clutter. Throw away what you can and store the rest, preferably off premises. Clear surfaces and counters in all rooms, especially in places where it accumulates more easily such as the kitchen, family room, bathrooms and closets. Clutter makes a home appear smaller and less attractive and can be a primary deterrent to potential sales as many buyers cannot visualize a home clear of clutter. A buyer should be able to visualize themselves in the home, so depersonalize the residence.

Then take a look at the interior and exterior paint colors. Are any of the walls painted a dark or vibrant color? Most buyers prefer to see neutral walls in the beige, pastels or off white tones. Lighter colors make rooms appear larger as well. Occasionally a room does look better with a darker or vibrant color, so if you are not sure, get a professional opinion.

It is also wise to check for structural defects and if necessary, to get a professional opinion. In the tropics some structural defects that often need to be addressed are adequate hurricane clips, rusty bolts and brackets, mold and mildew, peeling paint, leaking cisterns, grass in gutters, drainage issues, and rotting wood, esp on decks and siding. If you want the best price, for your home, rectify and repair. The buyer should leave the home with a positive feeling.

 Once the above issues are addressed, the final step is to stage the property. Think of staging as getting your property ready for a photo shoot. Furniture may need to be arranged, sometimes accents such as plants, pillows and vases with flowers are added for balance. Take a look at interior design magazines for some ideas. You may need to hire a professional to help with this aspect as realtors often do not like to give their input for fear of offending their clients and prefer to have a third party contracted for staging or reorganizing a home.

 Once some of these changes have been made, take a good look at your home from an objective standpoint, view it as potential buyer to see if there is anything else that would help with the presentation of the home. Addressing some of the issues and questions in the above paragraphs should be helpful in getting a home ready for a quick sale.

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