Hi Ya'll!! Spring is in the air and we are getting ready for the Spring/Summer real estate market which historically is the best time of year to sell!We do some things a little different
A Few Answers To Questions You May Have About Listing Your Home With Broadus Realty Group
Dated: February 13 2019
Spring is in the air and we are getting ready for the Spring/Summer real estate market which historically is the best time of year to sell!
We do some things a little different for our sellers which we include as part of our listing/marketing package. In addition to our heavy print, internet and social media marketing and followup that we do for your property, we feel that we are here, as your consultants, to give you the best advice possible in getting your home ready for market, as well as throughout the listing process and closing.
I want to share with you a few questions with you that I always get when we list homes.
Why do you offer minor staging in homes you list? Doesn’t my house already look ready to list?
First of all, I want to assure you that any suggestions that we make are made because we have been doing this a long time and we hear what buyers, as well as the agents, are saying when we show and sell homes. This is in NO WAY meant to say that you don’t have beautiful things or that your house doesn’t look good so please don’t take offense. The way you ‘live’ in your home and the way you ‘sell’ your home are 2 different things. You have to take out some of the personal items as well as the feelings you may have, when getting your home ready to sell.
With that said, the suggestions we make are made to help you sell your home for the most amount of money in the lease amount of time. You will hire an agent for their expertise and knowledge in the market. We know you would rather have your agent be honest with you up front, than to hear negativity later from buyers and their agents.
We offer to install minor staging materials to your home to bring in updated décor (if you haven't updated recently). We do this to save our Sellers money. It allows them the freedom NOT to have to purchase new things needed to ‘freshen’ up their home for showing. This also gives our Sellers time to start packing their things to move with them or to get rid of things they no longer wish to keep.
We may also make suggestions to move some furniture or other decor around to help make rooms look bigger and less crowded. Not only in person but also in the online/media listing pictures which we feel is very important to getting buyers to want to come see your home. Again, we have a lot of experience with this and the suggestions we make are based on that experience.
If we do any minor staging and arranging, we ask that you not be present while we are staging. That way, all staging can be done in a couple of hours and hopefully with less stress on you!
We can assure you, that the majority of the time, almost every buyer and their agent has had positive feedback and noted that our listings are staged beautifully, even if they don’t put an offer in. The local area real estate agents, who are familiar with us, also know that the majority of our listings show really well and look forward to bringing their buyers to our listings. We have even had past buyers ask for certain items to remain in the home as a part of the purchase. Although we don’t include staging items in the sale of our homes, both buyers and sellers can ask to purchase certain items at our costs.
Why do we have to paint, if suggested, or change out things such as carpet? I like the paint I have and don’t want to change that. Besides, I’ll just offer an allowance at closing.
The majority of the time that we recommend painting either the interior and/or the exterior is because the house hasn’t been painted in 5 years or more and/or may be painted in outdated colors that do not show well.
If we recommend painting certain rooms or the exterior, we will suggest not only colors you should use, but have a list of preferred vendors as well to help. Painting a ‘neutral’ color or adding an ‘accent’ wall helps to freshen up the home. Most people understand that painting is also a maintenance part of home ownership. The exterior of the home needs, not only periodic painting to maintain the integrity of the home, but also to replace and paint any wood rot that may have developed around the trim, siding, windows and doors.
Carpet and flooring are another big hang up buyers have. Carpet must be professionally cleaned if in good shape. If there is visibly showing wear and tear, or if carpet is 8-10 years or more and home has had pets and/or children, you may really need to replace.
Hardwood floors will need to be cleaned and any scratches or fading repaired. We have had many clients use the Rejuvenate Floor cleaning (Found at Home Depot and Lowes) to make hardwood floors look almost new again. If hardwoods are not in good shape, but can be re-stained, that is an option to consider. Otherwise they too may need replacing,
Again, remember that we do this for a living and the majority of feedback that we have received from buyers and/or their agents in the past has to do with outdated colors, walls needing painting from wear and tear, older/stained carpet, and exterior maintenance. It is very hard for the majority of buyers to see past paint colors and old, dirty flooring.
Most buyers want a ‘move in’ ready home and cannot afford to do everything after closing. In some cases, you may can offer an allowance, but our findings indicate that you would actually loose more money that way. Not only would you receive a lower offer but then you would also have to give a credit at closing and even then, some buyers lenders don’t like to see that on the contract or even allow that credit. Almost always, buyers will be moving in right after closing and don’t have the time, or money, to paint or add new flooring prior to move in.
If you do not have the funds to do paint, or recommended updates, We do have vendors who offer 90 day same as cash on certain items so please ask us about this
What repairs are absolutely needed in order to sell my home?
If you know that some of your mechanicals, such as HVACs, appliances, lighting, isn’t working, you have to disclose that on the Sellers disclosure and not repairing them can hurt the value you receive for your home.
The majority of buyers will get a home inspection once an offer is placed, and you will have to address any issues at that time. It’s always easier to address ‘known’ issues prior to listing instead of after the inspection. Some major issues found during an inspection, can also be a reason that a buyer terminates the contract. Issues with HVAC, siding, roofing, and plumbing issues, as well as structural issues, have made many buyers in the past walk away from a contract prior to closing.
Of course, some issues discovered during an inspection may not have been known to you. You still want to make an effort to address any issues. After all, its still your home and you want to make sure you maintain one of your largest investments.
Again, most buyers want a move in ready home and don’t want to have to replace a 20-year-old HVAC or roof, in the first year of home ownership
The majority of the repairs we recommend are a normal part of home ownership maintenance and probably should have been done sometime during the seller’s ownership, if they have owned the home 5 or more years. We do have a list of preferred vendors to help address any maintenance issues you may have.
My house isn’t updated. I bought it 20 years ago and like it the way it is. Why can’t buyers just understand that? Can I sell without having to update anything?
The answer is yes, you can sell without updating. But Just remember that you will have to sell your house at a much lower price than your neighbor down the street, who updated their house, sold for.
There are some buyers out there who willing to purchase homes that need updating, BUT they will offer a whole lot less than if you had just updated in the first place.
It’s also important to know that Most people recoup their most of their initial investments for some of their updates, especially those made to the kitchen & bathrooms and extra rooms added.
There are still things we can suggest for you to do, in addition to painting, staging, repairs, & flooring, that will help you sell your home for a higher price and in the least amount of time possible.
If you have dated wallpaper, that is almost always a MUST to get rid of. You can add inexpensive ship lap, extra trim to walls, updated light fixtures, and many other suggestions that we will be happy to give to you to help you sell prior to listing. We even have the people to help you with those updates if you are not handy in any way.
I did everything you told me to do, why is my house NOT selling?
Markets are tough to predict and are constantly changing. If interest rates go up during the time you are selling, there will be less buyers available.
Also, the time of year you list will have an impact as well as the weather. If we are having extreme weather, such as lots of rain or really cold or hot weather, buyers tend not to get out and look on those days.
Certain subdivisions may still have a lot of new homes being built and buyers may decide that they would rather have a newer home. Other subdivisions may not be in a ‘hot’ area, have no amenities, or too far out of the way for some buyers.
In a changing market, its even more important for you to do the things we suggest in order to sell your home. If the market is shifting more towards a buyers’ market, the buyers will be even more picky and go towards another home with the WOW factor yet priced comparable to yours.
Our rule of thumb is after 10-12 showings, if your home hasn’t had an offer, we need to re-evaluate everything, including the price. We will evaluate based on the feedback we are receiving and other market factors.
There may be many other things that may affect the sale of your home that you cannot change, such as your home being on or near a busy street, little to no backyard, bad driveway, floorplan, etc. We will work with each home to help make it more sellable.
We will discuss all of these factors at the time we list your home and help navigate you through the home selling process. We will go over things such as how the market is doing at that time of listing, what impact interest rates are having, how your subdivision or area is selling, the time of year for listing, and your home’s positive, as well as negative facts.
This is a TEAM effort between our brokerage and the Seller. We ask that you please listen to our advice because we are here to help you make this process as easy as possible.
Also, please understand that there are many things we are doing behind the scenes to market your home, such as talking to other agents to promote your home, constantly sending out emails to potential buyers and their agents, promoting on social media and the internet, etc. We have several proven systems in place, that we pay extra for, that are constantly marketing your home….even while we are all asleep! So even though it may seem like sometime we are not doing anything, just know that we are always constantly working for you!
Getting a 'Zestimate" or other 'property value' report online are usually not an accurate representation of the value of your home as those are based on algorithms which look at public records and sales of both new, used and foreclosed/distressed properties.
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Donna Broadus, Broker
Broadus Realty Group