I need some real estate advice (kind of long)

Hey Laura,

You've gotten a lot of good advice here but thought I'd drop in to give some of mine since I'm in real estate as well.

It probably would have been nice to put a 2nd bathroom in your place as well when doing the renovations but I don't know if that was even feasible.

I agree with doing staging. It would be easier to help you if I could see the place. If you have someone who is good at it it can really open a place up which would be helpful to you since you said your place is small. You should get some storage somewhere and pay for it if you have to for a couple months. Get rid of everything you don't need including exercise equipment if you go to the gym most often. Clear the tops of all your furniture of any knick knacks, photos., etc. Very minimalist. Fresh flowers, candles, treats,etc. should be out. Anything that makes your place more homey and inviting. Buying a home is an "emotional" decision and anything you can do to give someone a great feeling when they come through your doors would help a lot. How well is your realtor marketing your place when someone comes in? Are they pointing out all the features and benefits of your place as well as the area you are in??

It's hard to target the exact people who would be interested in your place through outside marketing. Real estate agents list houses in their database for all agents to see so I'd ask if you can see the listing and maybe make sure that it looks and sounds as desirable as possible.

I'm totally against dropping prices below their value just to sell faster. There are always improvements in the presentation of the house that can be made for little cost...which is another reason why I think staging is a good idea if you don't have the time or knowledge. Also, make sure curb appeal is nice...free of debris, fresh flowers planted/garden, etc.
 
Laura,

Just another suggestion. Since your place sounds more suited to young professional first home buyers or a single woman like yourself, maybe you can suggest to your realtor putting together a nice flyer to send to local apartment communities if you have some in your area. That could at least target first home buyers. There is a pretty decent amount of renters who are in the market for a house. Just an idea.
 
I don't know if this would help, but last year when we were selling our home, one of the marketing ideas that they suggested was to offer an agent incentive: the agent who brings in the buyer before a certain date gets a bonus of some amount of money (you'd have to see what it would take to be attractive in your area) You set the expiration date based on when you were going to drop the price. In our case, we were going to drop the price, anyway, so it wasn't like we were losing anything - we set the bonus to be half of what we were going to drop the price.

Another thing we were ready to do (if it hadn't sold by a certain date) - just like you're offering to pay the parking fee, we offered to pay the first year's taxes. It wasn't going to cost us as much as lowering the price and gave us an additional 'feature' to list in our brochure. They also suggested including things like appliance allowance, painting allowance, etc. Anything that was less than the amount we were going to lower the price...


Good luck to you - I hope the right buyer comes along soon!!
 

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