When I meet with someone about listing their home, we almost always talk about a pre-listing action plan.
This is the list of recommendations I deliver to the seller of what they should do to best get their house ready for the market.
It’s different every time, and not just because every house has a different set of “issues” or maintenance areas that could use attention.
It also differs because the seller’s story and goals and motivation are different in what they want to — and sometimes what they ‘can’ — achieve prior to listing.
It’s standard that I’ll recommend a universal de-cluttering of the house. “Get rid of 3/4 of your stuff!” It’s practically boiler-plate at the top of my action plans.
It’s also standard that I’ll suggest they fix any damage areas, from major rot down to minor sheetrock flaws and nail-pops. Buyers put an unreasonably high price tag on repairs, and it dings their comfort level. We want to keep them pleased throughout their tour.
Oh, and wash the windows….
And clean the carpets….
And organize the garage….
But as with everything, there’s a line that we don’t want to cross. And here’s the #1 criteria on how we set that line, especially in this market: We don’t want to get into raising the listing price because we’ve made radical improvements to the property.
Let’s say you’ve got a visible, ugly cut in the vinyl flooring in the bathroom. It REALLY needs to be replaced.
“Great!” the seller might say. “I’ve been wanting to do Italian marble in there, with radiant heating, and we may as well put in a steam-room shower while we’re at it, don’t you think?!
“NO!” I’ll always answer. “We want it to be new, sure. Clean, of course. Without the need for repair, obviously. But if you throw ten grand at it and then expect to pull ten grand back out because of it… forget it!!!”
We don’t want to push our price point higher right now, not in this market. We want to be the cleanest house on the block, of course. But we want to keep our price as competitive as possible, and that means holding off on the aesthetic capital improvements. They’ll cost you money now, you’ll expect to price the house for more, that will reduce its chances of selling, and you’ll ultimately lose out.
Don’t become un-sellable. Here’s the formula: clean, un-damaged, without the need for repair or maintenance, and affordable. Work with what you’ve got, and hold off on the upgrades for now, OKAY?
