Bryan Vogt: Welcome back to Ready, Set, Sold. Thanks so much for joining us and thanks so much for staying with us. Happy Saturday. Hope everybody has had a great week so far, and having a great weekend.
So the tip of the week, the $5000 tip of the week to either save a seller or make a seller $5000. In this situation, it happens a little bit more often than not. And the situation is, is there was a home seller planning to put the house on the market. They met with the realtor. They kind of lined out the things they needed to do, they had some painting in the dining room and the living room that … and they wanted to neutralize it. The colors weren’t bad, but they understood the personal thing, that it was more of a personal color for them. They needed to neutralize it, so that was a good thing.
There were some, dare I say honey do things listed that needed to be done. Some landscaping items. So there wasn’t a whole lot of things to do. The painting might have been the most time-consuming, but the other things can take time too.
But like most people, even the best intentions, we just live busy lives and you have kids and you’re going to soccer practice, it’s not the games, it’s the practices that get you, right? And even though their plan was to get this all knocked out on a weekend and they thought they could and what have you, it stretched out two weeks, and you get out to three weeks, and finally, it was over a month before they got their house on the market.
What happened during that time? I’ve talked before about the 30 days. Things can change. They don’t happen very often. And just so you know, in this situation, it doesn’t happen very often, but three other houses came on the market. One on their street. They had no idea, and the other ones on other streets right next to them.
So now all of a sudden, they’re faced with the competition. Now, all of a sudden, they’ve got 30 days, and again, the true cost of getting your house, not selling your house, is principal and interest. Taxes, insurance, utilities. That can easily eat up $1500, $2000 before you know it.
What happened? At the end of the day, it took about two more months to sell it. They got a decent price, but even they admitted they probably, if they had gotten their house on the market sooner, they could have beat out the competition and done much better. And when it was all said and done, those extra couple of months, anywhere from between $10 and $15 thousand dollars, is what they didn’t get in return investment.
So what’s the solution, what’s the tip? Get the pros. Bring the pros in. We’ve had sellers face that same situation. You’d be amazed what painting … they can knock it out in half a day, maybe even not that long, of painting a couple of rooms. Getting a punch list for a handyman, knocking that out. Getting your yard serviced for one time and one time only. Knocking that out there. Getting your house on the market sooner rather than later. Pay the money, if not, people also split the difference.
Maybe you want to do the yard work but you can’t do the painting. Figure it out. In the long run, you’re going to be making usually more money by having it done professionally. It can be done quicker. And getting your house on the market, in most cases, the name of the game. Because if you have that situation, competition, it can have a very bad effect.
With that said, hey, next week, we’re going to be back with you again and we’re going to be talking about having your house pre-inspected and the importance of that. Until next week, make it a great week, everyone.