Sunday I decided to go out and preview properties by visiting open houses in the areas I like to focus on here in the Richmond, Virginia metro area. "Why preview homes when you're a Realtor?" you may be asking. What a better way to visit several properties in a single day, meet agents from other offices, and see how other's host open houses, not to mention not having to schedule showings with other agents.Typically homes are in their best condition during open houses, agents are often receptive to the visiting agents (especially if it's slow), and what a better way to get familiar with current inventory. I've had several fantastic conversations with agents and even been able to help a few out while at their open house.
Lending a Hand
Helping other's out has been some of the more curious things for me, but I'm glad I can contribute to others. A couple of weeks ago I did a whirlwind preview journey through Mechanicsville and Glen Allen. At one home the listing agent looked to me for information about where the local schools were in geographic perspective from the home and how far away they were as some home shoppers were asking questions about the neighborhood.
At another open house the host agent (not the listing agent) asked what I thought the home would rent for since she was asked the same question by someone looking at the home as an investment property. I gave her my wild guess and told her how I calculated it (and got close to what rentometer suggests), and why the home would be a a good rental property, and a few reasons it would have difficulty renting.
Minor Issues
One of the homes I visited this weekend I suspected was going to have some issues based on the landscaping outside (significantly overgrown and the grass had not been mowed since before it went on the market) and looking at the pictures online (at least one missing mirror and office furniture as the kitchen table). When I walked in my suspicions were confirmed, a door was missing from one of the kitchen cabinets, the Formica was coming off the kitchen counters, and there were several painting issues like where the missing mirror was (the mirror missing in the picture was sitting in the bedroom).
When I discussed the condition of the home with the host agent one phrase rang through my head... the host agent said several times that the home was in, "move-in condition." When I pointed out the obvious and numerous condition issues they acknowledged the home, "needed a little TLC" (tender loving care - often meaning it needs more work than just cleaning and patching some nail holes). TLC and move-in condition partner like oil and vinegar.
As I left that house I was further perplexed when I researched comparable properties. Looking at recent sold properties and currently available homes, this "move-in condition" home was at near the top of all comparable properties. I'm thinking this property might be on the market for some time.
A Richmond VA Realtor Who Knows His Market
Everywhere I go I think, "It would be nice to sell that home." or "Oh, look at that one... who might be looking for something like that?" It's always enlightening to go out and view property. Are you looking for a great home in Glen Allen, Mechanicsville, or somewhere else in the Richmond, Virginia area? Call or text text me, Michael Hottman, at 804-767-5710. Looking to sell a move-in ready home or a home that needs some TLC? I can help you identify the most important things buyers want and will give you the best bang for your buck.
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