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Ask the Agent

Well, we've had our house on the market for over 6 months -- and nothing. Our agent just keeps saying "lower the price," and we suspect that's part of it, but what else can we do?   It can't be just that!

-- Molly and Tom  

I know it can be really hard when you love your home and no one else seems to see it with the same eyes. As a suggestion, that might be part of what's going on.

 

I've just sold my condo, and it gets really old keeping it clean and ready for showings. I also saw it with my eyes -- and they are trained to showcase a home!   But guess what, it was my house and I lost perspective. I know because my daughter came over and re-arranged a pile of things. I wouldn't have thought of doing what she did -- remember it's my stuff -- but I really liked the results!

 

So, step Number One : if your current agent has suggested updating, cleaning up and re-arranging -- or as we call it staging -- then you need to listen and act on those decisions. If your agent hasn't made many suggestions, then that's a clue that maybe you need someone with a better eye for staging and marketing a house.

 

Here are 3 levels of effort that can push your home up to top-notch condition  

Level One: You really need to do it, and it's generally elbow grease and packing away the excess. I don't think there's anything wrong with a pod outside. Most of us have too much stuff -- me included -- and getting rid of it can make a real difference in how your home feels. To get very practical, I suggest the following system:

 

Tips to help you clear the decks:

 

Tackle the tasks in nibbles. Do a closet each weekend. Do a drawer every day. Remember the old adage of how to eat an elephant?  It's one bite at a time.

 

Buy your boxes. (You can usually return what you don't use, and they are flat so your house isn't overwhelmed with unpacked cardboard). They stack and store better when you don't have so many varied sizes. By the way, be sure to get STRONG strapping tape. It makes a difference.

 

Put three boxes in every room. Place what to keep, what to give away and what to throw away in their respective boxes. When they are full then you can deal with them.

 

Never leave without a car filled with boxes needing re-gifting or tossing, just don't drive around with them, do it.

Invite friends over to help, wine and boxes and wrapping paper make a party!

 

Level Two: You really need to do it -- and it usually costs some cash. It's the new carpet, vinyl and paint that you've resisted doing. Your agent suggested it, and you just thought it wouldn't make a difference. It does. For example, I always like to remind my clients that a gallon of paint is their best friend. Painting is a hassle, but basically very cheap to do. If the buyer has to do it, they'll easily double what it will cost,   and take that off what they offer.

 

Level Three: This is what I call the cherry on the top of the hot fudge sundae. It's the new appliances, because yours are old and beat up. It's the ceramic tile in the bathrooms because all of your neighbors have it, not vinyl. You get the picture.

 

Hint: In my personal experience on my own homes, I make back about double what I spend on upgrades before I put my home on the market, and I get pretty fast contracts. Not bad in my book of goals.

 

Now, that will address the house. What else should you expect from your agent?

They should not only give you a market analysis when you have the initial listing appointment, but you should also expect, and in fact demand, a minimum of a monthly update. It should be detailed and it should compare the current market with what you've seen on your past reports.

 

Your agent should map out a marketing strategy -- and it shouldn't be "I'll do everything you want and spend whatever it takes." You want a business person for an agent. If they are thoughtful with their marketing dollars and have a smart campaign, then you probably have an agent who understands the business and what it takes to get a property sold.

 

If you are interviewing an agent who is offering a discounted commission, I'd think long and hard about choosing them. Agents are independent contractors. They have to pay for ALL of their business expenses, all taxes (including full FICA), their own retirement and health plans plus the normal expenses of everyday living.   It's a very expensive profession. If an agent is offering you a "deal", what will be cut in reality is your marketing dollars. The old adage you get what you pay for is really true in this profession.

 

These are tight times and skill, professionalism and knowledge really mean a lot. Remember that if it sounds too good to be true, it probably is.

 

Just like you, your agent needs to stay in business. I'd much prefer an honest and thoughtful plan that reflects reality than big promises that don't materialize. Whew -- but guess what? I actually practice what I preach! My last two listings sold in less than a week and the Sellers made practically no repairs. They also bought great homes. If your agent offers a reasonable and thoughtful system -- listen to them!

 

Leigh Hulcher is the Managing Broker of Napier ERA's Carytown office. She has been a Realtor since 1994 and with her appraiser husband, Ron Cloninger, become a serial Buyer … Renovator … and Seller. She's lived it so she can knowledgably help you through every stage of the home buying and selling experience.

 

Questions for Ask the Agent can be submitted to asktheagent@richmond.com .

 

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