How Making Small Improvements Before Listing Can Net a Large Return

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A lot of my clients wonder what improvements they can make to their house to get top dollar in the best amount of time with the least amount hassle. I have a system and a process in place where I bring in a staging consultant and we create a punch list on how we can position the property without having our client - the seller - spend a lot of money on things that are not necessary.

Our goal is to position that house on the market so that it appeals to the buyers. The staging consultant on our team works really closely with us to determine simple things like doing interior paint or switching out light fixtures. It doesn’t have to be a full-blown kitchen remodel or countertop replacement. Just a few small updates can go a long way!

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Making small improvement before listing can yield a huge return.

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For example, I once came across a property that had sat on the market for 145 days under the direction of the agent before me. It was a smaller home listed at $189,000. I decided to get in contact with the seller after it came off the market, and they decided to put me to work. We then went through the property using our previously mentioned system and decided that only a few small things were needed: a one-room paint job and a professional staging of that room. Most buyers view your house online first so you want it to make a good first impression and stand out with staging and professional photography.

After that $1,700 investment, they were able to list the house for $11,000 more. Not only that, but the very first day it was back on the market, we got an offer above listing price and sold for $202,500. Just by doing these simple things, the seller invested a minimal amount of money and got a huge return.

If you have any questions or comments, please feel free to reach out by phone or email. I’m looking forward to continuing to be your resource and answer any questions that you may have.

The Inaccuracies of Zillow Can Ruin Your Home Sale

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 Thinking of buying a home? Search all homes for sale on the MLS

We see a lot of misinformation in this industry and lately, a lot of it has been coming from Zillow. Zillow’s “Zestimate” sounds sexy, but more often than not it fails us by getting sellers’ hopes up about the value of their property by providing inaccurate information.

The Zestimate is found using an algorithm that doesn’t take into account many of the things that give your home value. Nuances like the school district, location, and upgrades that control the behaviors of a buyer are not taken into account by Zillow.

To demonstrate just how inaccurate a Zestimate can be, we have a great example to share with you today. We have a Zestimate for the house of the CEO of Zillow, which was put on the market in July 2015. The Zestimate for his home at that time was $1,491,000.

When the home eventually got listed on the market, it was priced at $1,295,000. That’s already a $200,000 deduction on what his own website said the home was worth! Over time, the market sent the message that the home was still overpriced, and priced reductions followed. By the time the home sold, it was eight months later. The home ended up selling for just $1,050,000. That doesn’t sound like a success story to us, and shows that basing your value off a Zestimate is probably not going to help you get top dollar.

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Basing your value off a Zestimate is probably not going to help you get top dollar.

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Other problems we’ve seen on Zillow include inaccurate or outdated listing information. A lot of times I’ll get a call from a buyer looking at a property on Zillow, and that property will either be sold or not even on the market yet. Our proprietary website solves this problem, as it pulls data directly from the MLS, which is updated in real-time. We want our clients to be able to see every property that hits the market, not just the ones that people choose to post or not post on Zillow.

If you have any questions for us or any suggestions for future video topics, give us a call or send us an email. We are always looking for ways to help you become more knowledgeable in the market so when it comes time for you to buy or sell, you’re ready.

Can You Buy Another Home If You Still Need to Sell Your Current One?

 Thinking of selling? Get a free home valuation

 Thinking of buying a home? Search all homes for sale on the MLS

How can you get your offer accepted when it’s contingent on the sale of your current home? My team and I have done this a million times, and we have a proven system to get the job done.

First, you need to understand your finances. Make sure your loan is squared away. Work with a quality lender who will make sure your pre-approval is good to go. You can even get that pre-approval underwritten ahead of time so that you have an actual approved loan. That will make your offer appear incredibly strong in the eyes of the seller.

Next, prepare your home for the market. Have a staging consultation, do all the light painting and touch-ups you may need, and declutter the property. Make sure your home is ready to go on the market whenever your offer is accepted. That will make your life a lot easier because you won’t have to scramble to prepare your home for the market.

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Make sure your home is all ready to hit the market.

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Make sure you write a strong offer. Don’t just offer a good price. Pay attention to terms as well. For example, the seller may need some sort of rent-back, or they may ask you to pay the closing costs. Understand what the seller wants and write the offer according to what’s important to them.

Finally, you want to work with the right agent who has your best interests at heart. My team and I can make sure you get into your new home even if you have to sell your current one.

If you have any questions, give me a call or send me an email. I would be happy to help you!