By Rebecca Bingham
Happy March! There's snow in my yard, but it’s almost spring! Daffodils! Bluebells! Cherry blossoms are just around the corner! Hang in there!
I held an open house a couple of weeks ago and noticed an intangible thing in house pricing. I was at a house listed by another agent with an intriguing, unusual feature. I ran the numbers to compare the sales price, etc. It was STELLAR! Well priced, in an established neighborhood, impeccably updated, and the staging took my breath away, right down to the Magnolia Table book by Joanna Gaines. IYKYK. A Realtor’s aphrodisiac. I was SO FUCKING STOKED! This was gonna rock! My car was packed, and my printer wasn't interested in being helpful, so I shrugged and figured I could email anything someone needed, etc.
I was driving and planning my directional signs to catch people going to the grocery stores to come by the open house, feeling super confident. But then, as I was driving up, four other houses with the same unusual feature were on the street. You could see three of them from the front of the house. This thing—that anywhere else would be showstopping—suddenly lost any perceived value in exclusivity.
Because of that, the home is overpriced. I had several groups of people come through the open house because it seemed so perfect! I could see their faces fall as they got out of their cars and realized. This made them pickier on the interior and actively look for reasons not to like it. The very excellent and successful listing agent did all their homework. It's priced where it SHOULD sell because of all the updates: the stunning mature landscaping, the bulbs poking their heads up out of the ground in promise; the three-and-a-half car garage; the RV parking; the level, cleared, fenced, and landscaped lot (on city sewer instead of septic, which makes a difference if you ever want to add on) right down to the sexy five-piece primary bathroom suite. The toilet and walk-in shower were in a room just off the bathtub and double sinks, and you walk through the bathroom to the oversized walk-in closet, a detail that I would never have thought of and it makes ALL THE DIFFERENCE. That bathroom even had one extra window high above the bathtub to make soaking an experience any time of day.
However, the price now seems too high because there are four others on the block with the same exterior, so it's not visually exclusive even though it was priced perfectly, in theory.
Thirty percent of houses don't sell the first time they are listed. (Also, that's not a statistic you hear often, is it?) Consider interviewing agents so you can find out why we want to help you sell your home, and if our reasons line up for you, you have a higher chance of being part of the 70%. We want to know why you are moving—ask us why we want to help you sell your house. Motivation is everything in this industry.
On that note, I am going to fully embrace that it's my birthday month (I'm an Aries), and I am going to ask you for a favor:
Help me find a house to list and sell.
My mentor is running a challenge for the month. We have 31 days to list a home, but it can't be for someone we know first degree. It has to be someone YOU know. The reason is, if you know me and that I'm a Realtor, we are already conversing about your needs. This challenge is about stepping out of our comfort zone and listing with a stranger.
I will not out you. My cell number is (360) 528-1927. Drop me a text with any information you have, or reach out via one of the links below!
Separately, if you have a single-story home, there are NOT ENOUGH of them on the market to meet the needs of the buyers who didn't get a house last spring when everything was clown shoes. I am seeing so many buyers coming in right now needing a one-story or spacious main-floor bedroom (having an ensuite bathroom is not as important as the bedroom on the main floor).
My lending partners are spending their weekends booked with mortgage consults for clients who are typically coming into the market to buy within the next 45 days, usually faster. It means they are SHOPPING. If you have one, now is the time for a quick close for top dollar, probably with a couple of offers to choose from if the price is correct even for nebulous reasons. You could be on your next adventure by the end of April!
Next column, infographics, I promise. This was a lot of reading. But I know you get why! Contact me if you have any real estate needs, questions, or referrals, and send me any home-related questions for next month’s column via DM on Fetlife or Facebook. (I’ll keep it confidential, of course!)
xoxo,
Becca