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If there are that many on the market, some in better condition, do you really think your efforts and expenditures will get it sold before them? I ask this because I have a condo listing in a complex that is just receiving no traffic whatsoever. It has new carpeting, paint, etc. but it still doesn't bring it up to the level of some of the other units, none of which have sold in over a year.
I'd hate to see you put that time, effort and money into something that won't reap benefits for you or your Seller.
Maybe I didn't explain it well, there are only two on the market in there right now, all the foreclosures sold last year. That's why I think if it's priced along with the others and looks better I can get a buyer very quickly. It's not everyday that the mortgage would be less than the rent. It would appeal to buyers and investors alike.
No, but my husband does. We have been 'rehabbers' more years than I care to remember sometimes. And it's a very small amount of counter space. Right now, it is blue whatever that fake stuff is called.
We talked about doing it together when we went over there this weekend (seller and I), maybe I just need to sit back down with the her and talk. She has been at work so something is probably getting lost in email translation between us.
Well that's good then. I've seen way too many horrible tile jobs. As long as you can do it well, that's a horse of a different color.
My old business partner used to always think she had said things very plainly to our clients. But I would remember things differently. She had a way of being so "diplomatic" that she didn't really ever say anything, even though in her mind she was being straightforward. It sounds like your client doesn't quite understand what you're offering. If you have the time, money, and expertise to do it well and it's not going to cost her anything, there's not much reason for her to refuse other than that she doesn't understand. I'm sure that once you sit down with her and lay it out for her, she'll let you go ahead. Just be careful that she doesn't think you'll be willing to clean and stage her next listing as part of the bargain!
I am getting a listing today and have been talking to the owners about doing a little work on it first. It is the typical rental, not too pristine white walls with nail holes, older kitchen cabinets, etc. It is completely empty. I offered to get some 'oops' paint and paint and clean it up myself and bring over some of my 'stage' furniture. They said they do not want to invest any money in it. They are willing to price low to get it sold but I still feel a little bit of work that I could do myself (not much else going on this week) will go a long way to moving it.
I don't know what they are thinking, I offered to lay out the cost myself. It would only be some paint. I also offered some leftover tiles from one of my other houses and a wet saw to do over the kitchen counters.
How do I convince them to just let me do it?
TIA, Dawn
Its more then likely that the owner has had bad experience with tenants, thought that owning rental properties would be a cakewalk, and just tired of the whole thing.
Well that's good then. I've seen way too many horrible tile jobs. As long as you can do it well, that's a horse of a different color.
My old business partner used to always think she had said things very plainly to our clients. But I would remember things differently. She had a way of being so "diplomatic" that she didn't really ever say anything, even though in her mind she was being straightforward. It sounds like your client doesn't quite understand what you're offering. If you have the time, money, and expertise to do it well and it's not going to cost her anything, there's not much reason for her to refuse other than that she doesn't understand. I'm sure that once you sit down with her and lay it out for her, she'll let you go ahead. Just be careful that she doesn't think you'll be willing to clean and stage her next listing as part of the bargain!
LOL! Now that is advice I can use!
I'm probably being too diplomatic as we have corresponded yesterday and today through email. I'm meeting with her tonight and will talk frankly with her. I know she is working and starting a performing arts school and part of it may be she feels bad about not being able to help. But, I can troll for business while I am working over there so it's a win-win for me.
Its more then likely that the owner has had bad experience with tenants, thought that owning rental properties would be a cakewalk, and just tired of the whole thing.
That certainly is part of it, I'm tired of dealing with my own tenants at this point.
They would be right around the comps. The thing is, it is a townhome development and an investor bought ten of them and they all went in foreclosure last year. These places were selling for 100,000 + a few years ago and are now down to 45-55,000. Most have not been updated and are a mess. I just want a good product to show.
Are you say that there are ten units for sale in this complex in the same condition as your listing but priced, 8-25% less than your listing? How then does your client expect anyone to market the unit so that it becomes sold, before all the others?
If this is the case, all things being equal, the only way your client's place is going to sell, is if it looks substantially better and is priced the same or less than the others.
Are you say that there are ten units for sale in this complex in the same condition as your listing but priced, 8-25% less than your listing? How then does your client expect anyone to market the unit so that it becomes sold, before all the others?
If this is the case, all things being equal, the only way your client's place is going to sell, is if it looks substantially better and is priced the same or less than the others.
No, I did not say that at all. There is only one for sale in there now. The others sold last year, I said that in one of my posts.
I'm just going to say that if she does agree and you take this on that you get something in writing that you are both holding each other harmless. That there is no liability on either part. You could do something she doesn't like or do it and she says she never authorized it, someone could get hurt, she could say you damaged something else, etc.
By the way...some investors prefer it to be in the condition it is...they can write off their expenses for fixing it up and often like to do it their own way.
Anyway, good luck with it.
Agreed with the other posts we are agents marketing what we have For Sale.
This is what you have, market it for what it is.
Only because I continually see sellers wanting X dollars with No effort, but pay X as little commission as they can, make the highest return on thier $$, I can't see putting extra effort for free to get them sold unless it's worth it to you.
I think this is a personal choice to make. You want to get it sold, you can put X effort and $$ into getting it done, your commisson is X $$. The bottomline is, what's it worth to you? Do it if worth it with the sellers permission.
I sell land, so I'm not usually in the same position as you. It's as you see it. That tree is there, the land is here, the hill is here. Take it of leave it. I can't "fix it".
I would talk with your broker about doing work on a listing. There is a huge liability for your brokerage in you doing that work.
In Oregon you would have to have a contractor's license to do work on someone else's property like that. What do your state laws say?
Last edited by Silverfall; 01-31-2008 at 03:14 PM..
Reason: spelling error
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