A $600 Solution to a $40,000 Problem

By
Real Estate Agent with Dove Realty Inc.
https://activerain.com/droplet/4dV4

Right after Christmas, I was approached by a seller who was trying to flip a house in Ballard.  It had been languishing on the market for over three months.  After doing a walk-through and looking at comps, I told them to take it off the market for a week, install a set of French doors in one of the first-floor bedrooms (thus turning it into a dining room) and then re-list it for the same price.

Of course, they consulted other agents, who told them to forget about the dining room--just lower the price by 40K.  Those agents were following conventional wisdom which states you should never sacrifice a bedroom, but I believe there's an exception to every rule.  When you have more than 3 bedrooms in Ballard, go for the dining room.

Fortunately they followed my advice and spent $600 to create this dining room.  We re-listed it a week later at 585K and it sold the first day for full price!  The moral of this story is: do it right the first time.



The Better it Looks...the Better it Sells!

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Topic:
ActiveRain Community
Location:
Washington King County Seattle Ballard
Groups:
Realtors®
Photography
Home Staging
Real Estate Staging Association
Everything Washington
Tags:
flipping houses
ballard
creating dining rooms
staging your flips
creating more profit in flips

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Rainmaker
818,542
Maureen Bray Portland OR Home Stager ~ Room Solutions Staging
Room Solutions Staging, Portland OR - Portland, OR
"Staging that Sells Portland Homes"

Hi Susan ~ It's great to see you posting again and showing your exceptional properties!!  As usual you've worked your magic with your fabulous ideas and staging.  I'm sure that your sellers were so happy that they found you!!

Mar 18, 2014 02:50 PM #1
Rainmaker
253,029
Lee Jinks
Jinks Realty - McAllen, TX

Do you do your own photography or do you hire a professional?  These are very good photos.  Could that have played any role in the listings performance this time around?

Mar 20, 2014 01:25 AM #2
Rainmaker
500,769
AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

Susan - Great call on your part.  Having more bedrooms is a good idea, but if the home has many of those and not enough public space to enjoy, then your idea makes perfect sense... and the market agreed!

Mar 30, 2014 03:15 AM #3
Rainmaker
722,700
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Great thinking turned this deal around and made everyone happy except the past agents.

Good Deal!

Mar 30, 2014 06:56 PM #4
Rainer
151,431
Wendy Tomm
Beyond the Walls - East St Paul, MB
CCSP, RESA-PRO, BBB - Wpg Realtors

Wow Susan, great advice and you provided your clients with great advice which = a quick sale for list price!

Apr 04, 2014 01:28 AM #5
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Rainmaker
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Susan Peters

The Better it Looks the Better it Sells
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