The condition of a property has a profound impact on potential buyers’ interest in what they will investigate. Bob Nelson, Eugene real estate investment broker, with Pacwest Real Estates Investments, and Marcia Edwards, Eugene residential broker with Windermere Real Estate, continue to break down the seven reasons why properties sell. In this installment, they look at property condition.
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The Eye of the Beholder
If you cannot entice a buyer to cross the threshold, then you are not going to have a transaction. The condition of your property strongly affects whether buyers want to take the time to see it. If the property is in poor condition, it’s still possible there will be a transaction, but it’s going to be a low-price transaction. That’s the bottom line.
When you are selling your residence or investment property, you need to set the vision for the buyer and show them the possibilities. If it’s a residence, how you have personalized spaces could look like you’re not using all the rooms, or you’re not using them for their intended purposes. For instance, sometimes empty nesters convert a child’s former room to storage. Under those circumstances, restaging is necessary.
Bob Nelson, Eugene Commercial Real Estate Investment Broker:
A realtor can help a seller understand how to make their property more appealing to buyers. The seller probably likes it the way it is, which is why they need help understanding the potential buyer’s point of view.
Working with a realtor or broker is a bit like being coached. They help sellers see what they need to do to help the property sell for a good price. They can also connect sellers with professionals who will declutter and stage their property—and do it in a timely manner for the right price.
If you can’t entice a buyer to slow down as they’re driving by and consider the property, then you won’t get an offer from that person. And if someone is browsing online and they’re turned off by the property condition, the result is the same. There’s not much time to make a good first impression online.
The condition of your property has a significant impact on sales price. Get the help you need to make the most of yours. How the Condition of the Property Affects the Sale is from Bob Nelson and Marcia Edwards “Real Estate Today ” Eugene, Oregon, radio show, which airs at 5:30 daily on KPNW.