Working with both Buyers and Sellers gives an agent perspective....what Buyers expect when they pay $X ...the kinds of materials and finishes, the amount of space, the location, size of the lot...number of bedrooms, bathrooms, finished lower level, number of garage spaces...proximity to shopping, the school system...the (blank) thing that they always wanted and knew would be in the house they were going to call home. The list goes on....requirements sometimes drifting to theWese with everything done to their expectations, continues.
If you have been in real estate any length of time, you met the Buyer who complains that they have seen dozens and dozens of houses and none of them are "right." It never occurs to them that they may be the ones with expectations that exceed the reality of the market...the price point...the area...and their housing budget.
Sellers have different ideas...they know that the shiny new hot water heater, the dimensional shingles, plumbing or electrical upgrade, mature landscaping, fresh paint are all going to be the things that captivate a buyer...that motivate a Buyer to write their highest and best which just match the expectations of the Seller to the penny.
Enter....Knowlegeable and experienced agent...It is the job of the agent...not the Seller, not the Buyer to be the "Reality Interpreter". Buyers and Sellers do not (nor should they) know how to pull/find comps in a market. The influence of emotion...the discounting the "don't haves" and emphasizing the "do haves" is too easily done....the result is their own price which likely exceeds the expectations of the Market. They hone in on...the "Yes Buts..." The house is the same number of bedrooms...and if sold for $X. Yes...and it also had an updated kitchen, finished lower level...updated bath, hardwood floors...the list of forgotten features of the "comp" continues. Even in "cookie cutter" one builder sub divisions there are differences in the choices, upgrades, decorating, features and finishes that make comparisions not exactly the same....the Eye DOES buy.....and an experienced Realtor will tell the Seller OR the Buyer that the Eye will be attracted to these features, that the Buyer will value those things and be willing based on market knowledge to pay $X.
A part of our Seller consultation is to answer the questions the Seller has about what needs to be done to get the house ready for sale. Sometimes the list needs to be narrowed or the price changed....few people have unlimited budgets to get a home "move in ready." The choices to our minds have to begin with the repair/replacement/upgrade of anything that may interfere with financing or be something that would be on the top of the home inspector's list. That list progresses from peeling paint to wallpaper removal...fresh paint...a look at the flooring...A look at the "ready to sell" budget and deciding what cosmetic things will help bring that eye to focus and produce the desired result.
The next question is often...Will every dollar invested be returned ? The answer by an honest agent is "probably not." There are things that a Seller accepted...their choices of styles, colors, finishes, designs that may not meet the expectations of today's buyers...and need to be prioritzed to meet today's "Buyer's eyes." As we say all of the time...there is a way that you live in a house and the way that you get it ready for sale. The well maintained home is a wonderful thing...newer mechanicals...fresh landscaping, neutrally painted interior..wallpaper banished....Sellers sometimes confuse the well maintained with the cosmetic appeal and valued upgrades that Buyers expect...and the Sold history in the market proves that they value.
We believe that good agents are interpreters...telling the Sellers what the Buyers say....Telling Buyers what they can realistically expect from their real estate investment.
Agents...feel free to copy this blog...with annotated credit when you meet with either buyers or sellers...tell them it is how Realtors with decades of experience practice real estate successfully.
If you or anyone you know is looking for Realtors who ARE interpreters...who tell BOTH Sellers and Buyers what they need to hear...what the market really says....Call the Hansons...we are honored to be service.