An Ugly Duckling Turns into a Swan
Who wouldn’t want to sell their home in four days, right?
Well, we worked our magic on a home that had sat for 76 days on the market with another broker just one year ago. The market is not that different. Slightly stonger, yes, but not night and day.
The problem was, the property was screaming “dated” even though everything was new. It just needed some tweaking so that buyers walked away with a fresh and crisp feeling. So, we worked our magic and it sold in 4 days, for more than what the seller was asking just a few months earlier.
This seller was referred to us and like all new listings, we wanted to see it well before putting it on the market. We immediately assessed the situation and realized it all came down to a “beauty contest.” This poor house had old appliances and bright blue paint that made buyers not even see the other great updates the home already had. These features outweighed all the great and unique things that made this unit so great. We could see that, but buyers were walking away with the wrong impression.
By knowing our target buyer, we knew we had to make it as move-in ready as possible and not have some long to-do list waiting for them.
First impressions are SO important and we had to capitalize on that by suggesting our seller spend a small amount of money up front for some changes – good-bye blue paint and hello a new stainless look at half the price with a nice, convenient warranty.
The seller spent less than $3,000 for these simple changes but reaped the rewards in the sales price and getting two full price offers in two days. She was able to sell for more than what she was asking for the last go round just a few months ago and all it took was knowing the buyer and what they wanted. Easy!!
The Before & After pictures may not look drastic on my blog – but, that’s the point! We were able to steer the seller toward the updates that made a BIG impression on buyers who walked through the home and resulted in more $$ in her pocket.
Keep in mind what one real estate expert advises, “It’s not just a price war, but a beauty contest at the same time.” It’s that simple.
After it was all said and done, here’s what the seller had to say about the whole process:
“I would highly recommend Jennifer to anyone looking to sell their property. I listed my condo for a lower price a year ago and it sat on the market for several months for various reasons. Jennifer’s name was referred to me by a friend. I met with Jennifer and she gave me a detailed overview of what was happening the market, what the inventory levels were and provided comps on other similar condos that were for sale in my neighborhood. She recommended a few small upgrades, which I made and within 4 days of listing my condo on the market it sold for full price. I cannot thank Jennifer enough for all of her hard work. “ Jen
Seller Jen, you did all the hard work, so thank you for listening to our recommendations. All your hard work paid off! Congratulations!