Buyers Will Always Pay More for Move-in Ready
30 JulJeff’s industry changing seller program, based on HGTV’s Property Brother, gets our seller a 2.5 return on his investment. The home sold in 19 days within 94% of list price.
Bill reached out to us in hopes of selling his home in Grayhawk for $700k. His home was located in a North Scottsdale, guard gated golf course community with a split floor plan with original interior and condition. The home also had several deferred maintenance items, therefore the true value ranged closer to $650K.
In order to reach Bill’s desired sale price, Jeff presented our new business initiative, based off of the show “Property Brothers”, where we make on-trend renovations and fix deferred maintenance. Even though this has been a successful strategy for current and past clients, Bill was not immediately fond of the idea. He believed buyers prefer to make their own updates.
The power of online photos and move-in ready homes
Bill was not an internet guy and didn’t know how websites like Zillow, Trulia and Realtor.com had changed the real estate industry over the last 10 years. The last time he had purchased a home only one photo was posted so you had to go see the home in person to get an idea if it is a good fit. Jeff explained the power of online photos and that today’s buyers pay more for move-in ready homes and Bill was ready to listen.
Upgrades
Over the next four weeks, Bill mulled over the unattainable list prices promised by other agents while our Design Team gathered remodel estimates free of charge. Impressed by our tenacity and confidence, Bill decided to go with the Sibbach Team. Documents where signs and renovations started! Bathrooms were updated, new countertops and flooring were installed, deferred maintenance was tended to along with a fresh coat of interior paint. The total price of updates amounted to approximately $35K.
Listing Strategy
When it was time to put the home on the market, Bill thought we could get more for the house and wanted to list at $775K which would set a new record. Ultimately, we agreed to list for $750K which was Jeff’s recommended price.
Bill’s home sold in 19 days for $735K which is 94% within the list price.
Bill held tight to his belief that buyers will always make the home their own. Ironically, the buyer did indeed remove the new flooring and installed something different, BUT buyers can do whatever they like as long as we net the seller TOP DOLLAR!