No Comments

“What do you bring to the table?”

“What do you bring to the table?”

“What do you bring to the table?” That’s precisely the question I was asked this week by someone who received one of my letters in the mail in Delray Beach, FL. He said to me that the house in question was owned by his parents and now that they’ve passed away, he was wondering what to do with it. I’m not that familiar with the neighborhood, but while we were on the phone I took a look some of the other homes for sale on that street and the first thing I noticed was that they were all built within the last ten years.

I told the man on the phone that without seeing the condition of any house I can’t really give an accurate estimate, but seeing that it’s only ten years old, it’s probably in pretty good shape. He said “It’s certainly not an ugly house by any means, and I don’t want to sell it for less than market value.” I agreed with him, he shouldn’t sell it for less than market value.

He said “So what do you bring to the table?” That’s one of my favorite questions, and I answered it like this: “You can sell it quickly and easily with no repairs or you can sell it for top dollar. Typically if a house is more than fifteen years old, it will need some cosmetic updating, if it’s older than that, it could even need a roof in addition to that. If it’s less than fifteen years old, like your house, I’d be willing to buy it quickly and easily, but not for top dollar. The reason is that I can’t add value when the house is in excellent shape. What I bring to the table is a pain free solution for people who don’t want to deal with the trouble of listing with an agent, making repairs, and going back and forth with unpredictable buyers and their lenders. For houses that are older than fifteen years, it’s likely that I’ll be able to add tremendous value, but in your situation, I’d be happy to list it for sale as your agent, but I likely wouldn’t be able to give you what you’d like for it if I bought it from you with cash.”

As you might expect, I declined to buy the house from him, but offered my services as a real estate agent in Delray Beach, FL if he decided to sell. Even as an agent, I have a team of people who can make minor repairs to satisfy the most nit-picky buyers. I’ll let you know what ends up happening!

No Comments

You Shouldn’t go it alone

Why you shouldn’t go it alone

I was driving to a job site this week and saw a for sale sign in front of a house on the same street. As a Real Estate Agent who purchases homes frequently, I’ve owned two properties on this street before and I am very familiar with the properties. I would love to buy more homes on this particular street, so I called the number listed on the for sale sign. Spoke for almost 30 mins with the owner and learned the story behind the house- there is ALWAYS a story because homes aren’t just property, it’s where people live and have memories (plus, it can be emotional due to the amount of money involved). The story was that the house had belonged to her parents since it was built in the late 70’s and she inherited it when her folks died.  After having several bad tenants, she decided she wanted to sell, and she wanted to do it alone.  However, she wanted to get every dollar out of it that she could, she didn’t want to list it with an agent and didn’t want to fix it up.  However, even though the house was in largely original condition, she wanted 200% of what it was worth!  It needed a lot of work, including a new roof, kitchen, bathroom, floors, HVAC, you name it, it needed it!  But because she was stubborn and wanted to do it alone, she thought that by putting it as a for sale by owner, she would get the most money possible. I’m here to tell you that as appealing as it sounds, at a crazy price, and with no agent, she could be sitting on that house for the next year without any interest.  And once someone does come by to take a look, they will be very nice and she will never hear from them again.  Unfortunately for her, the house is in a 55+ community.  She won’t get any showings this summer because all of the buyers will have gone back up north.  Also, buyers these days want to buy something that’s turn key, but more importantly, a home that’s fairly priced. The lesson is: I could end up getting a call from her 6 months or a year down the road after she’s realized that her house wasn’t worth nearly what she had hoped and that at that point she would be willing to take any offer she could get!