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Home Tending - a great alternative for some Sellers. What do you think?

By
Real Estate Agent with Keller Williams Realty

Do you have hometending in our area? We do and I have 2 of my previously vacant short sale listings being cared for by home tenders. 

The property is cared for, the utilities are on and paid for by the home-tenders and the home tending company goes by WEEKLY to check in and make sure the property is cared for and up to standards for showing. 

The home tending companies in my area offer a staging service that the home tender pays for. They have even gone so far as having the home tender 'rent' furniture if their own pieces are not up to snuff. 

Although it's available to any vacant home - I find it ESPECIALLY good for short sales if my seller has already moved on for whatever reason. It costs the sellers nothing (FREE) - they receive none of the 'occupancy fees' that are paid to the home tending company - but the property is cared for and the sellers tend to feel a bit better about not just leaving the house and walking away. Since the short sales are taking so long - the home tenders tend to stay in the property for quite a few months - so it's normally a great deal for them too - as once the offer is in place - the showings go down considerably. 

I find it interesting that so many agents (in my area at least) either don't know about it or are not interested in presenting it to their sellers. I agree that it's not for every seller. But it's a great alternative to suggest. One of my sellers of a short sale was not interested at all when I first suggested it, however after 4 months of up keeping the property - she is pretty happy to not have to pay the utilities or cut the yard anymore - while we continue to await an offer on the property. She is happy the property is being taken care of as she is no longer able to. 

I would love to hear feedback as to whether you have this service available to you and if you use it or what you think about it. 

 

Posted by

Julie Cendejas

Associate Broker 

Keller Williams Boise

208-870-9563

Comments (6)

Holly Weatherwax
Associate Broker, Momentum Realty - Reston, VA
A Great Real Estate Experience

I have never heard of this...how do you find a Home Tending company?

Sep 23, 2010 05:31 AM
Stephanie Williams, Realtor Murrells Inlet
Seaside Properties - Murrells Inlet, SC

If it cost the sellers nothing, who pays for it?

Sep 23, 2010 05:32 AM
Todd & Devona Garrigus
Garrigus Real Estate - Beaumont, CA
Broker / REALTORS®

Julie, We have not heard of this type of service here in Southern California, but I like the concept. Can you provide a name or two of hometending companies?

Sep 23, 2010 05:34 AM
Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

I have never heard of this service it does seem like a terrific idea for home seller's today. Thanks for sharing.

Sep 23, 2010 05:38 AM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Julie - Never heard of this and as Stephanie asked who pays for this?

Sep 24, 2010 05:39 AM
Anonymous
MHM Professional Staging (www.professionalstaging.com)

We peform the service listed above. Unlike many companies, we actually provide the furniture ourselves as we began the tending service as an expansion of the staging services we have offered for several years. Although we focus primarily on high end homes we have seen success on less expensive properties as well, probably the most dramatic case being a property that went under contract within a week of us staging it and selling a month later. In that case, we didn't even have a chance to put a tender in the property. Prior to our staging the home, it hadn't had an offer in 6 months and was priced significantly higher than the other homes in the neighborhood.

We are compensated for our services by finding the tenders for the staged homes, who then pay us a monthly fee. This fee can range from two thirds to one third of market rent depending on the size and price of the home. In some cases we can assist the owner of the property by having other fees paid as well, such as landscaping, HOA fees and even fixing up items that have fallen into disrepair -- every case is unique and designed to assist the home in selling. Some of the tenders we have placed have gone above and beyond in making repairs to the properties or paying off past bills and taxes.

It is a great opportunity for a homeowner with a vacant property, who simply cannot afford the cost of staging and would also like to save money on bills while the property is on the market. The key is finding a good home tender and doing an extensive background check. Once a good fit is made, it truly can be a win-win situation. We're based in the Orlando market and have operated as far South as Ft. Lauderdale, but I'm open to questions from anywhere if you're curious to learn more!

Jan 12, 2011 08:28 AM
#6