Buyers have become more discriminatory and selective – they now add and subtract as they view your home for sale
I’ve spent a lot of time with Buyers over the years, and as the inventory of homes for sale continue to increase, Buyers have become more discriminatory and selective – they now add and subtract as they view your home for sale. If your home is not move-in ready, Buyers will either walk out the door or they will begin to calculate what it will cost to make the home acceptable to them.
Yesterday my Buyers viewed a home with a hot-pink breakfast nook, inferior tile flooring and a cosmetic crack in the living room ceiling. The property has been on the market 142 days, and has gone through THREE price reductions – from $165,000 to $159,000 to $139,000 to $124,000. It was certainly over-priced to begin with, but this home is in a great location, has a beautiful lot and a very nice layout.
If the Seller had spent $1,500 to paint the breakfast nook a neutral color, correct the small area of tile flooring and repair/paint the ceiling — and priced the home at $135,000 to begin with, it would have sold in a week.
But, now after observing the crack in the ceiling, Buyers are wondering if there is major structural damage, which is making them nervous. They are subtracting from the current sales price
what it will cost to paint and re-tile.
Buyers have become more discriminatory and selective – they now add and subtract as they view your home for sale
If the Sellers had offered a one-year service agreement and performed pre-inspections, Buyers would know that the home is structurally sound and that the Sellers have made any repairs that were called to their attention.
If the home is move-in ready, the Buyers will be wondering which date would be convenient for them to move in!
Sellers, please remove any objections Buyers may have and prepare your home for sale. While that cosmetic crack in the ceiling did not bother you while you lived there, it will give prospective Buyers unnecessary reasons to question your home’s integrity.
Don’t give the Buyers any reasons to add and subtract as they view your home for sale. Prepare your home for sale, stage it, and price it correctly. Period. It’s the selling formula that works – choose the Realtor who has the plan.
Lori is a residential Realtor serving the greater Tulsa area, and specializing in midtown Tulsa real estate. Please visit Lori’s web site, LoriCain.com or call 918-852-5036.
