A Disregarded Secret - Price & Presentation Sell!

By
Real Estate Broker/Owner with Havelock-Adams, LLc BR520783000

Sellers tend to go to some consumer listing site such as Zillow and pull up all active and recently sold homes in the  immediate area of their home for pricing comparisons. For undetermined reasons now days, an updated clean property is often priced nearly the same as the one that is dog eared and maybe not as clean as it could be.

“Curb Appeal”, remember that old realtor term? Well allowing the front scrubs to become overgrown and a blank dirt yard in the back can kill any interest in purchasing your home. Remember when your Dad told you to wash and clean up your car before you take it to the dealer as a trade in? Well, presenting your home is the same.   Prospective buyers know they will make changes to the house after closing but to present them with an ugly presentation to begin with, they will never get to the “what it can be” stage.

The timing for the sale is also a major secret. If a quick sale is important then you have to have the nicest presentation at a price the same or less than the beat up dog down the street. Buyers are fickle. If a dog is a few thousand less than a nicely presented home, they will conclude that they can “fix up” the dog. That is within reason. Twenty thousand in the "guesstimated" cost to upgrade a home will not be off set by a couple thousand dollars in lower asking price.

One of the biggest mistakes sellers make, when time is not so much an issue, is pricing the home too high thinking they can wait for “the right buyer”. If a home sits at a price for more than 90 days it becomes stale and prospective buyers (and agents) begin to wonder what is wrong with the property.

Agents want listings and will often list a home for a price determined by you the seller or the convenient “comp” figures if they don’t know better. If you really want to sell your home in a timely fashion at a good price look at the presentation of the competition, be realistic in your timing and when necessary spend just a little to shine up the house so the curb appeal, in and out, makes the prospective buyer feel better about your house compared to the one down the street.  Spending a couple of hundred dollars in cleaning and fixing things can result in many hundreds of additional dollars at the closing table.

Comments (4)

Winston Heverly
Winston Realty, Inc. - Atlantis, FL
GRI, ABR, SFR, CDPE, CIAS, PA

Hi, another year to get back in the groove of learning and sharing from great posts. Hope this becomes a prosperous 1st quarter.

Jan 04, 2016 12:19 PM
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Welcome to ActiveRain Ward. If a seller isn’t reasonable, I’m out. I won’t waste time on a listing that won’t sell.

Jan 04, 2016 02:57 PM
Elyse Berman, PA
Best Connections Realty, Inc. - Boca Raton, FL
Boca Raton FL (561) 716-7824 CRS, ABR, GRI,ePR

Ward Adams Your post is spot on.  No one needs an overpriced listing, as determined by a seller.  They become old, languish on the market and end up selling for less in the long run.

Jan 04, 2016 07:12 PM
Ward Adams

Thank you. My folks just sold their home of 50 years in Boca. They couldn't believe the price today verses when they bought the home.

Jan 18, 2016 10:23 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

Perception is key.  If a home looks well cared for and well maintained it looks more valuable to buyers.

Jan 23, 2016 11:39 AM