A great post from Lee Ann. I'd like to throw in my words from the Property Management Peanut Gallery here...
I have the same battles as those on the sales side of life, and I'd say few would be surprised that a good number of those battles are waged against owners who have thrown in the towels once "that Realtor just couldn't sell" their place.
Guess what? Usual market conditions aside, it takes me about 5 minutes to discover the reasons said Rascally Realtor was unsuccessful in selling said house.
Walls are "that groovy purple color? I see.
Counters are that great "retro" formica with the attractive cigarette burn near the sink? Gotcha.
Carpets have a few stains, and just a bit of a smell that says Rover's "gone" all over it? Duly noted.
Yes, my friends, it's another verse that's the same as the first. And unless the 'ol homeowner makes some suggested changes, this Particular Property Manager will fare no better than the Rascally Realtor.
Many times I go to a listing appointment and I have to have the dreaded conversation with the seller regarding repairs that should be made before putting the home on the market. It can be anything
from small cosmetic changes to major repairs.
As you can imagine, this is not always a favorable topic. I am usually met with two kinds of challenges.
It’s hard for sellers to see the value in making cosmetic changes since “they love that color” or “those gold fixtures were expensive (20 years ago)”. But sellers, you must remember once you put your house on the market its not your home any more it’s a product you are selling and the best way to appeal to a wide variety of buyers is to update your home even with something as inexpensive as new paint and a couple of new light fixtures. These relatively inexpensive repairs, if not done can cost you thousands in the end.
I know expensive repairs such as windows, furnace, roof, etc., not everyone can afford to make these repairs. But if these items need to be repaired or replaced, the price must reflect those repairs needed. Nothing screams “DON’T BUY ME” like a 40 year old furnace and a 30 year old roof. I have also heard from sellers that they would rather wait until after the home inspection and see if the buyer wants those items repaired, “why fix it if I don’t have to”. I always felt this is the wrong approach to selling your home. You want your home to show its best and costly needed repairs will turn away a large group of buyers. As a result your home will sit on the market longer and eventually you will have to decrease the price. So in theory, you didn’t want to spend $3,000 on that new furnace, but you have reduced the price of your home since listing it by $10,000.
Don’t be foolish trying to save a few bucks in the end it will probably cost you!!!
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