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Honest Advice From a Property Buyer's Perspective to a property seller

 

Honest advice from a property buyer's perspective to a property seller

old las palmas home


Yesterday we took a potential buyer to view homes for sale in some of the most prestigious areas of Palm Springs: the Movie Colony, Old Las Palmas, and the historic Tennis Club neighborhood. Each of these areas has a very limited number of homes for sale and holds a strong appeal to interested buyers from out of the area. In this blog I'd like to focus on one particular home which we visited.
 
Located in the Old Las Palmas neighborhood, this home had undergone, in my estimation, at least $200K worth of upgrades and remodeling. The kitchen was beautiful, the flooring was a striking gray porcelain tile, the mountain views from the pool were gorgeous and unobstructed, the fireplace was inlaid with hand-selected slate tile- I could go on and on. Listed at just under $1.5 million, this home was move-in ready and had all the qualities you would love in a property, except for one thing...the furnishings. A few pieces worked, but the couches were old and worn, the beds had unattractive comforters, the tables didn't blend with the flooring or the scope of the area they were in, and the gigantic pool area with its amazing mountain vistas and huge bar was entirely devoid of decoration, furniture, or landscaping.
 
When a client enters such a home, he usually sees its potential but is overwhelmed by the enormity of the work and expense that would be involved in infusing this home with character. When he starts trying to figure out how to  furnish the home, his interest begins to wane. Yesterday's client couldn't put his finger on it; he just knew that this home lacked that "wow" factor which is so important to a buyer.
 
My experience in visiting that home yesterday inspired me to write this blog as a vehicle for passing on to sellers some practical advice from a  buyer's perspective. Here are some key points:

1. Potential buyers of quality property are more attracted to homes in which the furnishings and décor complement the original design of the property as well as any remodeling that has been done to it. If this harmony is absent, many buyers find it more difficult to visualize what the home could look like and are less likely to make a great offer.
 
2.  Potential buyers prefer that the seller not be present at the showing; remaining outside or in the garage is not a good idea. The presence of the owner  instantly becomes a distraction and could negatively affect the impact of the property upon the buyer, regardless of the efforts of the agent to minimize the problem.
 
3.  Make sure that the price you set for your property aligns with its appearance, apparent value, and performance level. There is no quicker turnoff for a buyer than  to enter a home that has been priced and advertised as an upgraded property and to be met with egregious imperfections. A buyer in this situation often asks his agent, "Why would I pay such a price to do all this work?" Buyers today have information at their fingertips; they won't overpay for a fixer, even in a great community, if they can get a property in better condition at or near your price.
 

Every seller's situation is different, but this advice should apply in most cases. Too often, honest, critical feedback about a property is shared between a buyer and his agent but is never heard by the seller. You will have a better chance to get top dollar for your home if the property, the showings, the location, and the list price are all aligned perfectly to find and attract that right buyer.

 

 

 mmrealtyteam

 

  

Honest advice from a property buyer's  perspective to a property seller

 

 

 

 

Douglas Elliman

Estates Agents

Mike Patakas | Maria Patakas

760.808.5400 | 760.464.4650 

BRE #s: 01264926 | 01785498

 

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Comment balloon 0 commentsMike & Maria Patakas • April 19 2013 04:35PM
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