In today’s hot seller’s market, it is tempting to sell your property “by owner” and cut out the Realtor. Why should you pay 6% of the sale price if your home sells in a day or two?
That’s exactly what one of my clients thought, before he hired me to manage the sale of his home. Here’s why he decided to go the “traditional” route and rely on the services of an experienced real estate professional.
For Sale by Owner | As-Is
Clintonville is a very desirable neighborhood. Some homes sell for more than $200 per sqft, which is substantially higher than what buyers pay in most suburbs. And many homes are almost 100 years old and need maintenance.
Last fall the home owner decided to put his house on the market by simply putting a “For Sale by Owner” sign in the yard. He also decided to offer the property in as-is condition for $245,000, which was much less than recent, comparable sales.
Over a 3-week period, he received 3 phone calls. Only one prospect looked at the inside of the house but did not make an offer.
After this disappointing experience my client called me. We decided to make upgrades that would seriously impact the value of his property:
- New paint throughout
- Drylocking the basement
- New tiles and fixtures in the bathroom
- New light fixtures throughout
- New kitchen appliances
Once the upgrades were completed I recommended to stage the house for full impact. I put it on the market in early January for $300,000 and launched my 4 Day Marketing Blitz which culminated in an Open House.
During the 4 days we had more than 30 showings, 25 visitors at the open house, and 3 quality offers above list price.
Ultimately, the home owner accepted a $315,000 offer. After successfully negotiating remedies, the sale closed before the end of February.
How My Client Won Big Time
My client made an extra $40,000, because he hired me to market the property, manage the upgrades, and negotiate the sale.
In total, the seller paid $20,000 for upgrades, new appliances, cleaning, and staging. The additional cost of real estate commissions was easily made up by a much higher sales price, which left my client with an extra $40,000 in his pockets.
Note: There were numerous occasions (inspections, appraisal) when this deal could have fallen apart. I was able to avert these situations and negotiate a solution that was acceptable to both buyer and seller. We got the transaction closed, and I secured the profit for my client.
Call or text me at (614) 975-9650 to discuss a strategy for selling your home. Let me show you how much more you will net by hiring me to market your property and manage the transaction.