Leaving Money on the Table When You Sell Your Home.
How can you know if you’re leaving money on the table when you sell your home? For starters, why not hire a top Sacramento Realtor with hundreds of positive testimonials, so you don’t leave money on the table! When you see a team with more than a thousand sales and hundreds of 5 star reviews, you can take away that it wasn’t luck. Skill is how you continue to grow your business after decades of experience. You update and evolve with the times.
Realtors who have a strong web presence and stay relevant in the use of technology tools and marketing do not simply price a listing low and throw it on MLS, like some might think. When we listed homes for sale, say, in the early 1980s, a For Sale sign was the marketing, on top of door knocking. There was a blue book with property lisings. Buyers often walked into a real estate office and talked to an agent on “floor duty.” Very rarely do buyers walk into real estate offices today to look for property. Buyers look on the internet today and, guess what? No internet available in 1980. We have come a long way baby, LOL.
What sparked my blog today? I was evaluating a property value that the Weintraub & Wallace team is working on. It is in a cookie-cutter neighborhood in Sacramento. These are the same floor plans built one to two years apart with very similar lot size. Easy price comparisons in these type of neighborhoods.
I found 5 sold properties with the same floor plan sold with in the last six months. The lots are almost identical size. Year built 1999 – 2000. All located within 1 / 2 mile of the subject property. Conditions were a bit different. Some had updated kitchens and bath. These are not custom homes.
The sales in 6 months in this neighborhood showed a recent closing at $339,000. MLS data said it needed a little work but was a great value. Our listing needs a little work too. The highest closed sale to date was $391,000 with some updates. A $52,000 price range difference between low to high. All five properties are less than 20 years old with stucco exteriors, tile roofs and slab foundations.
Our listing will go on the market in the high three-hundreds. It also needs a little bit of work but has been cleaned up and painted. Based on demand and an average of 20 days on market, we can obtain a very nice sales price for our client. So leaving money on the table when you sell your home can happen but not for our clients. In this study, even if it was only .25 of the $52,000, that is $13,000 almost my entire brokerage fee! If it was half, it is $26,000, and this savings pays our entire 6% commission!
Would any seller be happy if she left money on the table? No, of course not. Does an average seller know how to read a comparison market analysis? Not in my experience, sellers rely on their agent to explain and interpret. Studying the market means hours of looking over sales data and hundreds of photos. Looking at maps and plot plans, it is not a 5-minute quick search. There are adjustments to be made for amenities or lack thereof. Also, we have to look at price reductions, and properties that failed to sell (called expired listings).
If you want to ensure you’re not leaving money on the table when you sell your home, find out what we do different. Call us today to book an appointment to evaluate your property value. The Weintraub & Wallace team with RE/MAX Gold will always work for your best interests. Call 916-233-6759.
— JaCi Wallace