An interesting success story in a tough real estate market.
A husband and wife team of agents that I work with called me to perform a pre-listing inspection for a client of theirs. The property was a 2 bedroom/2 bath "Cabin in the Pines" of about 1100 sq. ft. outside of Prescott, AZ. The owner planned to list since he seldom used the property (a second home) and felt the money could be used more effectively elsewhere.
The Realtors had worked with this client before (they had helped him buy this property) and knew him to be a realist and a sound business man. They evaluated the property and the local "comps" and put together a plan. A key issue was the sellers motivation, he didn't need to sell but wanted to better utilize his funds.
The listing meeting with the client had them presenting a plan that they felt would result in a quick sale. The approach was three-pronged.
1. Establish a realistic price based on todays market with the intent to move the property quickly
2. Contract for a Pre-Listing Inspection to allow the seller to avoid any surprises during escrow.
3. Offer a .5% premium to the buyers agent.
The meeting went well. The seller selected a price within the range suggested by the Realtors. I was contracted for the inspection that I performed on a Friday. The report was reviewed and all issues discussed on Monday. The listing went to MLS on Tuesday with the listing showing up on-line around 10:00 AM.
Four phone calls later and a faxed full price offer was received before 6:00 PM that day! An amazing story in todays market! Was money left on the table? I think not. They certainly could have increased the price 20%, left it on the market for 6-12 months, cut the price three times and sold it for what they got that day after the seller incurred the cost of ownership for that extended time.
A job well done, by knowledgeable Realtors representing their client's best interest and understanding the current market. My only complaint is that it sold so quickly that I never got to hang my "Inspected By" sign since they never put up a "For Sale" sign. Oh Well!
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