So, I was able to book an appointment for a listing potential for a potential client. After about 2 hours into the presentation, the customer was sadden by the listing price for their home.
I got an opportunity for a listing opportunity, the customer had been in the house since 1998, it's in a decent neighborhood, school rating is so-so. However, homes in the area are selling at varies prices due to no Home Owner Association (HOA). I hate HOAs, I will post another post about them next time.
First I got in to the house, my first impression was; it is obviously not organized, there are stuffs everywhere; the appliance were not updated, HVAC was installed when the owner moved-in. However, it was kept in a decent condition. I personally think with a general clean up, the house can still be presentable.
At the end, they decided not to list for sale because they think that they can sell the house for higher price. I told them that the house should be listed at $380k, in the back of their mind. They are probably thinking about $400k, but they failed to realized in order to sell at $400k, you will need to update your appearance, update your appliance, install hardwood floor, add a driveway, all these work may cost you $20k, but with all that upgrade and clean up. You can possibly list for $420k, that would be a $40k compared to $380k with only about $20k of improvement or upgrade.
Oh well, until next time.