Special offer

Dress For Success - Your Listing That Is

By
Real Estate Agent with Vision Realty Partners, LLC - Nashville Music City USA

Ever hear that phrase or read that book?  If you have, you certainly understand the importance of dressing the part if you want to be a successful Real Estate Broker or Agent.  Dressing for success applies to ever facet of business when you're on the job or working with clients.

The same holds true for your listings.  Are your listings Dressed for a Successful Sale?  You know the old phrase, you get what you pay for?  Well that's true with selling Real Estate.  If you want to bring top dollar for your clilents and top commissions for your efforts, take the time to have a frank conversation with all your Sellers about Dressing their Home For Sale.

If a home is to be Dressed for Success, make "needed repairs!"  This sounds obvious but is not always embraced by our Sellers.  I am fortunate enough to also be a Licensed General Contractor so I know what it takes to make needed repairs on the homes I list.  Case in point. About a year and a half ago, a lady I go to church with approached me about possibly renovating a home she once owned and had recently been rental property.  She wanted to put it on the market and sell it for market price and recognized her home needed some major TLC.  The house was in need of an update and needed repairs. Selling the home in its' then present condition would bring in maybe $150,000.  The appraised valule of the home exceeded $315,000.  She was in a position to invest some money in needed updates but wanted to only spend what she absolutely needed to.  In her case, a new kitchen, paint and carpeting throughout the home was at a minimum.  What's more her hardwood floors were in need of refinishing and her screen porch repaired and re-screened.  All in all she spent about $40,000 to renovate the home which may by most people's standards seem to be a lot of money, and it is if you don't have it. 

However in this case by spended the needed dollars, the home was placed on the market for $299,900 and subsequently sold for $288,000.  In this case, spending $40,000 gained her over $138,000 additional dollars in Sales Price than she could have expected leaving the home not Dressed to Sell.

I know you're saying my clients don't have or won't spend the needed money on a home they want to sell.  Well it's our jobs to point out to them what they can realistically expect if they don't do what is absolutely needed to get a house sold.  Many times it is simply a coat of paint but in most instances, it calls for additional renovations. Every case is different and therefore it may be in your best interest to align yourself with a Licensed General Contractor.

Don't "fire sale" your clients' home. Help them Dress their Home for a Successful Sale and ensure you do what is needed to help your clients maximize their investment even in a down market. You will then earn their respect as their trusted Real Estate Advisor.

Good Luck

Joe Staub, SFR

Affiliate Broker

Prudential Woodmont Realty

Jessica Leimback
Agave Homes & Investments - Mesa, AZ
Broker,SFR,CNE,CSSPE

Here the problem the seller will often run into with this issue. The potential will almost ALWAYS overestimate the cost of repairs and that my friend is no accident. It is a way to discount the home. Of course this just proves to insult the proud seller and we now have an impasse. We could avoid all of it just like you say.

Nov 12, 2010 08:01 AM
Joe Staub
Vision Realty Partners, LLC - Nashville Music City USA - Hendersonville, TN
Joe M. Staub Real Estate Group

Thanks David for your kind words.  

Nov 12, 2010 08:18 AM
John Douglas
Berkshire Hathaway HomServices Partners Realty - Bowling Green, KY

Definitely agree in Today's market it so important to dress for success great points.

Jan 11, 2011 02:43 PM
Joe Staub
Vision Realty Partners, LLC - Nashville Music City USA - Hendersonville, TN
Joe M. Staub Real Estate Group

Thank you John for your comments.  It always helps to position the home correctly as you know but too ofter some agents overlook this very important step, especially in a market that has way too many homes to choose from.

Good luck to you in all you do in 2011

Joe

Jan 12, 2011 04:37 AM