Realtor Redux: 3 inspired buyers; $10k over-asking
We specialize in advising homeowners on strategic home improvements they can make to increase their net proceeds when they go to sell, so when a previous client reach out to us for help getting his home ready for market, we were ready for the task.
Our client acknowledged his property was in need of inspired improvement. We immediately got to work on the exterior, removing overgrown shrubbery and making wood repairs prior to a full exterior re-paint.
We took a paint brush to the interior walls and installed new carpets, select lighting, mirror and faucet replacements. To cap it off, we took on a deep cleaning of the home and windows.
We listed the freshly prepared home on a Thursday at noon time. COVID-19 restrictions mean we still cannot host public open houses are allowed, but in the next few days scheduled 25 private buyer showings.
We ended up with three inspired homebuyers who made offers. After careful review and consideration of multiple factors, our client selected a buyer escrow for $10,000 above our increased asking price (we raised the price $10,000 the day prior to going on the market).
In the end, the seller spent approximately $18,000 on improvements to prepare the home for the market. By our estimates, his investment easily resulted in 3x cash return on the sales price of the home.
The Redux method has been proven time and again to result in both a faster sale and a higher sales price. We are believers in putting in the effort up front to have a positive and more favorable outcome for the seller.