“REY’S REAL ESTATE RECOMMENDATION”
By Rey Post, Associate Broker, Sotheby’s International Realty & Host of the “All Things Real Estate” Radio Show
October 15, 2017
Those who wish to sell a home in this fall season, carefully consider a suggestions that my friends at the National Association of Realtors and I agree upon.
#1, your home décor isn’t always perfect for selling. Remember that while your home may be beautifully decorated, it still looks like your home, not the buyer’s. Clutter, in particular, can make a home feel cramped and buyers will be distracted by too many personal items, as well as the need to negotiate around furniture to see your home.
#2, sellers need to disclose any problems with the property, like a broken air conditioner, leaky faucets, water damage, or pest infestation. Don’t keep any of your home’s flaws from your broker because you are scared it might hurt your sale. The listing broker is always on the homeowner’s side, but he or she must be aware of what needs to be fixed, or what could become an issue in a transaction going forward. Besides, a buyer who does a home inspection as part of any purchase, is probably going to discover these problems anyway.
#3, remodeling doesn’t guarantee a price uptick. While remodeling projects may enhance a property, the projects homeowners take on are never a guarantee of payback at the time of resale. It is pretty standard that the payback will greatly depend on what type of home improvement was completed. Ask your real estate broker what improvements in our community seem to have a positive impact on home appreciation.
And #4, be ready to fix some things. Sellers may have to spend a few bucks to get their home ready to sell. For example, they may need to replace the trim the dogs scratched up, or clean the scuff marks off the walls, power-wash dirt off of sidewalks, repair damaged driveways, or put some new paint on interior or exterior parts of the house. Of course, to you, it’s totally normal because you’ve lived with these issues for years. But to buyers, these will look like expensive repairs, which means they may lowball you on an offer, or not make an offer at all, because your house is perceived to ‘need a lot of work.’ Remember—perception is reality, even when selling a home.
If you are a home seller and you consider these recommendations, you may see an enhancement in the dollar value of an offer that a buyer makes on your property.
Learn more about this topic and also pick up additional news by joining us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.
Sotheby’s International Realty
Santa Fe, NM