Well worth the read! Advising sellers by getting the property ready for sale can be a rewarding challenge.
My latest buyers and I viewed homes from January through July of this year. Some of the smallest elements can make a huge impression when showing a home. When we viewed specific high-end homes, just the smallest elements can make a huge difference. I cannot understand when preparing a home to qualified buyers why taking the time, and expense to make what seems to be the smallest things can impact the value of the sale. A prime example in several homes were the light fixtures, switches, and plugins. Every buyer will automatically want to turn these off or on. Even when the lighting is on. Dingy, yellowed, loose covers will immediately portrait the condition of the home. A very inexpensive must do. Window treatments, appliances, dingy and dirty walls where common use shows dirt. Buyers may be afraid to put their hands on it let alone, consider making an offer for a fair price.
I’ve found in my experience, it’s mandatory that you share these weaknesses in order to net the highest and best value the property may offer. When a buyer has an interest in the property providing the best possible comparable values gives the buyer’s confidence and the sellers assurance that the value and price are equitable. Only then do you build the relationship that’s paramount to make a deal happen.
I’ve found, by putting myself in the buyer’s position, I’m able to assure the seller the importance of minor defects and by making a minor investment, may net the highest and best offer in the marketplace. Before I can put a value on the property a seller is contemplating, I asses the condition, and all significant elements to support the value the seller wants to achieve, and the buyer wants to consider.
When I evaluate a potential property for the current market, I look for wear and tear of the area’s where hands are commonly placed, this tells a lot about the property. I look for the wear and tear of the flooring, and especially the grout between the marble and tile flooring. Does a new buyer picture walking on these areas where staining is obvious? Water damage is huge, the showers may have water damage, warping woodwork, corosion in the stainless steel frames if this applies. Noticeable neglect of the A/C duct work and A/C units and air handlers. You have no idea, with just a little investment and staging will overshadow these small elements that make a huge difference. First impression is everything.
Curb appeal is also an element that cannot be ignored. I recently showed a home that my buyers loved, however the pavers in the driveway were covered in mulch where a recent rain flooded the appeal of the home. As much as they loved the home, the property showed little care for water intrusion, and the beautiful wood doors had shown weathered conditions that perhaps a renewed staining from a professional would have made all the difference in the world. By bringing a seller’s awareness of these, in most cases minor investments will net the ultimate yield.
Some of the most elegant homes, may have dark and wallpapered walls that do not show well to a buyer. Sharing with the sellers the importance of a fresh coat of paint, and by changing all the lighting to the highest lumens in LED will bring out the elegance the home really portraits. I’ve advised sellers from a $150,000 or to a $3,000,000 that a fresh, common pastel color will consistently bring the highest and best returns and is well worth the investment. Professional Staging companies will offer the most popular colors for the current market.
I mentioned earlier that refreshing the grout, and or determine the worthiness that maybe necessary to show off the elegance in the home. I’ve seen carpet that looked worn and challenging, that a carpet fella recommended came in stretched the carpet back to its original appearance and replacing it was not necessary. These are elements that should be evaluated by the seller. I’ve seen two or even three different types of wood flooring that are uneven in the entry ways, foyers with tile, and possibly hazardous to new buyers, for fear of tripping from one room to the next. Yes, some of the most elegant homes have these challenges and deterred buyers.
I have personally made suggestions to sellers; they’ve chosen not to make an investment and the property sat on the market for months. This one instance, the elderly lady had lost her husband and her job at a nearby university and was tasked with finances. I was so confident that my suggestions would make a difference, we drafted an addendum to the listing was she would repay me at closing. I personally made a small investment with painting the entire home, and the ceilings, and replaced all the lighting with LED’s with the highest Lumen possible at the time. We put it back on the market and had a contract within three weeks. Ironically the buyer got his Real Estate license and began selling in the community. I always welcome competition, it’s not so much about the competition as it is the experience and the rewards that come with finalizing a sale where both the buyer and seller are extremely satisfied.
Modernizing the kitchen with new appliances can be a remarkable investment and gain an immediate return for the investment. Stainless steel makes a remarkable impact, Viking and Wolf Kitchen Appliances can be a little pricey although the return on the investment never fails to be a rewarding feature of the home. Keep in mind in todays world, life is wrapped around the kitchen and this is where family grows and enjoys memories.
A property’s facade is the first thing buyers see when attending an open house; that’s why curb appeal is an absolute must when preparing for showings. First impression is non-negotiable. The ambience the exterior experience presents, is among the most important upgrades, and provides a positive return on investment.”
Landscaping, patios, the indoor-outdoor lighting offers critical lifestyle in a secondary home market. Ponte Vedra Beach, St. Augustine, Vilano Beach is about choice, and buying a luxury home is often a choice rather than a necessity. My experience indicates secondary home buyers need to connect emotionally with the property and are willing to pay a premium for a move-in-ready residence that connects with their emotions.
Ultimately, sellers are relying on us to tell them what requires an upgrade — whether they know the scope of work needing to be done. “Being an objective and knowledgeable third party during an often emotional and tiring process will make all the difference to a seller. In the end, a superior understanding of the market is what counts most in the luxury real estate space. Just because a Realtor understands the community within the location of the property does “NOT” always support or validate the presentation or listing price point!
Dan Swing Realtor with RE/MAX Unlimited, Luxury Division Adviser! #Ponte Vedra Beach #Ponte Vedra #Vilano Beach #sunset #instamood #follow #nocatee #like4llike #instalike #tagsforlikes #blue #instacool #modehome #instagram #smile #fun #followback #swag