SELLERS: Update it, Fix it and Achieve Exceptional Results Selling Your Home
I thought I would share a recent comment by a seller whose home had been listed before, but with no serious Offers. When informed that there were several items that needed updating and repaired, the husband said, "If they don't want my house the way it is, we can wait for the next buyer."
WHAT? So no one has explained the current market conditions and how buyers want EVERYTHING done? Yes, it's a sellers market but, that doesn't mean you want to 'settle' for a lower price.
I am seeing buyers who do not want anything left for them to have to update - even simple paint in a room or two! Everyone who is working during the pandemic, seems to be working MORE from home than they were when they were commuting to their in-town offices.
If they’re not working more hours, they are homeschooling their children - on top of working their regular job from home. It’s just more than a lot of buyers can handle. So, they need more space to spread out and they want it MOVE-IN READY!
After reviewing the selling process with this seller at our listing consultation, I was given the 'hand-in-front-of-my-face' because, "We've heard this ALL before!" I asked for a ‘continuance’ and explained that it was my duty to instruct them in the process of selling. They let me finish my 'instruction', agreed to make all updates I suggested and to price the home right. We completed the listing and moved forward with the planning process. Sure enough, we received multiple quick Offers - for a price more than the seller had even imagined!
When the sellers decided upon the Offer that they were going to accept, I instructed them that the next step would be the inspection, buyer's loan application, the appraisal and, of course, the repair request. We discussed that since they had done the updates suggested and the contractor had given the home a once-over to ascertain nothing major was going to come up on the buyers’ inspection report, their repairs would probably be next to nothing.
I instructed them to keep in mind that the buyers are paying $22,000 over list price so, they will want to do the right thing and make any and all repairs requested by the buyers. I would guesstimate that repairs would be under $1,000 and they were positively gleeful, saying, “Of course!”
The inspection was one of the best I’ve ever seen - literally under $250 worth of repairs. In the craziness of finding the sellers a home to move to, going under Contract and being in the middle of Due Diligence on THEIR purchase, they voiced to me that they were, absolutely, NOT making any repairs on their current home! They then informed me that ‘those issues are bogus and we really don’t need to make any repairs!'
Oh good GRIEF!! Of course, every one of my clients will know exactly what I said next…”Really? You are selling your home for $22,000 OVER your wildest expectations and you’re not willing to spend $250 for repairs in good faith?” Hey, if I don’t tell them the truth, who will, right?!
I believe the light bulb went off and my sweet sellers agreed that they absolutely needed to do the right thing and they DID! What you’ll love about them is that they didn’t ask their sellers on their new purchase, to make a single repair!
If you’re a seller, it’s always wise to do the right thing - it comes back to you 10-fold!
Thinking of selling your Charlotte area home? I’m here to guide you with confidence and clarity. Let’s talk! Contact me at (704) 491-3310 (my personal cell) or email me at SavvyBroker@me.com. I’m looking forward to helping you achieve exceptional results as a Charlotte area home seller.
Fix it and move ON!