The #1 Reason Not to Wait to List Your House for SaleMany industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them.
If You Are Selling Invest In The Product You Have
Dated: October 10 2020
There are lots of reasons you might be considering selling your home. New job, need more space, want less upkeep/expense, have an unexpected change in your life or just realized how "hot" the real estate market is right now while mortgage rates are historically low ...
If you have had thoughts about selling, you might want to download this FREE guide to selling: http://bit.ly/FALL2020SellersGuideFREE
Specifically, what I wanted to discuss in this post is the strategy of investing a few dollars to sell more quickly and sell for a higher price!
Let me tell you now that the last thing a REALTOR® hoping to convince you to allow him or her to place your home on the market wants to talk about is YOU spending $$.
Yet, it would be wise for you to treat your circumstance less like a GREAT ESCAPE and more like the BUSINESS TRANSACTION that it is! For nearly everyone, their home is the largest investment in their wealth portfolio. Selling a home and (likely) buying another is a serious financial event in your life.
Here is the way I try to explain this concept when I am sitting at the kitchen table with someone who is thinking about listing their house with me ...
I drive a "seasoned" pickup truck. It has dings and blemishes that the years have provided. The headlight lenses are fogged and the tires are a bit worn. It is my office on the go, so it has lots of clutter including yard signs and other tools of my trade strewn about. It is comfortable like an old pair of shoes. Here is where I pause before I say with emphasis, "But I am not trying to sell my truck!" If I was, I would take out all the personal items. I would have it professionally detailed. I would fix what I could afford to fix. It would still be my 'daily drive', so it wouldn't be perfect and it certainly wouldn't be new, but I would want it to be in a little bit better condition than the other trucks out there for sale.
You see, whoever would be buying my vehicle wouldn't have the attachment to it that I have. The buyer would be looking to spend as little and get as much as possible. I would have to make the potential buyer look at my truck and want it more than the other vehicles he has seen or will see. It is going to cost me a little money to make that happen.
Now, my truck has a book value somewhere shy of $7,000. How much more important is the principle of spending a little to make your home grab a buyer's attention?
BTW: It might be another snow day in Louisiana before I sell my pickup!
MY POINT? I am convinced from my real estate experience that a homeowner who views the preparation for the sale of his or her property as a business strategy will always come out ahead. The phrase "You must spend money to make money" has been traced back to Titus Maccius Plautus who lived 254 BC to 184 BC!
Because I am cautious and "frugal", I would insert the word "wisely" into that mix. We all can have a tendency to overdo a "good thing". I have shown houses where that was obvious, but not as often as I have seen homes where the seller overlooked that. With just a little TLC- those homes could have had a buyer saying"I gotta have this one".
Here are a few things we can discuss as it regards your home:
➡ You may want to have a pre-sale appraisal. If your home has unique features or is sufficiently different from the other homes in its vicinity, establishing the value independently could add more $$ to your takeaway!
➡ A pre-sale inspection could be beneficial regarding that "wisely" point. You certainly do not want to "fix what ain't broken!" You do want to fix what an inspector would find!Rather than replacing aged appliances or heating and air-conditioning systems, purchasing a home warranty may be the preferred substitute, save you money and calm a buyer having apprehension about future costs. A little paint goes a long way. A fresh-looking home just doesn't seem to be as "used". Take care of any delayed maintenance items like changing A/C filters, etc. If a buyer thinks that you haven't maintained the items they can readily see they will really worry about what they might be missing (and likely look a lot more closely for stuff!).
➡ Get repair and replacement estimates on items that may be "iffy". Estimates should be FREE and what you cannot afford to do may become less of a hurdle for a buyer who can see what cost they might be facing. Fixing or replacing may be considerably more affordable than a worried mind would think. Gather up your owner's manuals and existing warranties for the items that will be staying with your home such as HVAC, stove/range/oven, alarm, garage door opener, etc. This is another idea that will only cost you some time and be much appreciated by a buyer. Spruce up the curb appeal. First impressions are the most lasting. We have to get them through the door with a good feeling about the house. If not, they may not even give the inside a deserved consideration. Most importantly, price it right! I have a whole spiel about setting your bait where the most fish are swimming. Ask me for the flyer, it'll take less time than another story from me!
Are you getting woozy? If you read through the list, some of this costs nothing but your time/effort and some could be accomplished with the help of a family member or friend.
Get ready, I'm winding up for the delivery ...
IF YOU EVEN SPENT $2,000 - $3,000 AND SOLD YOUR HOUSE SOONER AND FOR FULL PRICE RATHER THAN $5,000 LESS,
WOULDN'T YOU THANK YOUR HUMBLE REALTOR® FOR REMINDING YOU THAT THIS IS A BUSINESS TRANSACTION?
Now, let's meet and talk about your property specifically.
Here's how to contact us:
225 644-7797 | MoveRealtyOnline.com | email@example.com
🏚 Have a home or land to sell? Read this: https://randy.rcarealestate.com/blog/310818/Do+Not+Try+To+Outsmart+The+Market
Why Homeowners Have Great Selling Power Today: https://randy.rcarealestate.com/blog/315634/Why+Homeowners+Have+Great+Selling+Power+Today
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