Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My broker and his agency seem to be very proactive. Although I'm not going to be listing for about 3 weeks, because renovations need completing, he has shown our house to other brokers in his agency - something they do with all their new (or soon to be) listing. That's fine and seems to make sense.
However..... the place is a mess because lots of work is still being completed. This includes some painting, a new hardwood floor in one room, installation of a couple new toilets, lots of trim to be installed, etc. Stuff from room A and B is stuffed into room C, room D is stuffed with boxes of stuff headed for storage, total chaos - exactly what you don't want while marketing your house.
Despite that I've had a couple calls from other agents in his office wanting to know if it's OK to show the house to a buyer or 2 that are looking for what we have. There are no indications of price and it's made very clear to the buyers that the house is not yet listed and there's ongoing work -- and they need to see beyond it. It's worth mentioning that there are very, very few similar houses in the area (5 bedrooms, 3400 sq ft, most other 5 Brms in the area are more like 5000 sq ft and would list for probably 25% more).
A young family had a look today, was very interested and told their agent to let them know the second we list. So, what's the downside of letting interested buyers have a look before listing? OI don't know if this is a common practice or not. Pros/cons? Thanks muchly, as always.
Only real downside is that when the property isn't ready, you could put some downward pressure on price, and possibly limit your overall exposure if they offer the minute you hit the market.
Flipside, you could also get a "pre-bid" situation going. All depends on the local or hyperlocal market.
My broker and his agency seem to be very proactive. Although I'm not going to be listing for about 3 weeks, because renovations need completing, he has shown our house to other brokers in his agency - something they do with all their new (or soon to be) listing. That's fine and seems to make sense.
However..... the place is a mess because lots of work is still being completed. This includes some painting, a new hardwood floor in one room, installation of a couple new toilets, lots of trim to be installed, etc. Stuff from room A and B is stuffed into room C, room D is stuffed with boxes of stuff headed for storage, total chaos - exactly what you don't want while marketing your house.
Despite that I've had a couple calls from other agents in his office wanting to know if it's OK to show the house to a buyer or 2 that are looking for what we have. There are no indications of price and it's made very clear to the buyers that the house is not yet listed and there's ongoing work -- and they need to see beyond it. It's worth mentioning that there are very, very few similar houses in the area (5 bedrooms, 3400 sq ft, most other 5 Brms in the area are more like 5000 sq ft and would list for probably 25% more).
A young family had a look today, was very interested and told their agent to let them know the second we list. So, what's the downside of letting interested buyers have a look before listing? OI don't know if this is a common practice or not. Pros/cons? Thanks muchly, as always.
Lock it down until you are ready to show it in the condition that will bring you the most money. A few weeks won't hurt you right now.
If the buyers had real interest, they would have an offer in your hand without the "Let us know when it is listed" deal. That is just hot air.
You don't have to be listed to receive, negotiate and accept offers.
Either get on the market, or stay off the market until you are ready to sell.
Lock it down until you are ready to show it in the condition that will bring you the most money. A few weeks won't hurt you right now.
If the buyers had real interest, they would have an offer in your hand without the "Let us know when it is listed" deal. That is just hot air.
You don't have to be listed to receive, negotiate and accept offers.
Either get on the market, or stay off the market until you are ready to sell.
?? Who on earth is prepared to make an offer on the spot when they've spent all of 30 minutes checking the place out? Doesn't make sense.
?? Who on earth is prepared to make an offer on the spot when they've spent all of 30 minutes checking the place out? Doesn't make sense.
An interested and motivated buyer would. And negotiate out the details in the process. But, I am working in a bit of an overheated sellers' market where I am.
Really, though, I suggest not allowing people to see an incomplete renovation. Only show what you want them to see, unless you are a builder and it is a partially completed spec home.
?? Who on earth is prepared to make an offer on the spot when they've spent all of 30 minutes checking the place out? Doesn't make sense.
You'd be surprised. We've had people familiar with a neighborhood put an offer in on a house sight unseen when they were out of town on vacation, because listings in this neighborhood are rare and desirable :-) They figured that they could bail during due diligence if it wasn't up to snuff. Luckily, it was. :-)
?? Who on earth is prepared to make an offer on the spot when they've spent all of 30 minutes checking the place out? Doesn't make sense.
I did. I looked at one house and I wanted it at asking price. Signed the offer on the hood of my truck in front of the sellers house. Dummy went with the other offer and took 90 days to close. Making a offer is just that. Doesn't mean I'll buy it once I do my due diligence
A lot of people are so visual. I've noticed a lot of people will notice what's wrong or not done. But if everything looks perfect, they won't notice that it's cleaned up per se. They will subconsciously feel it's a regular nice house and make an offer. HOWever, there are neighborhoods, fabulous homes, fab views that bring in the offers on a home in any condition. Some locations and views so fabulous the beautifully renovated house will be a tear down.
Yeah, I'd rather myself not have people in until the work was done. Psychologically better for them and me. But, in case there was a great buyer I would have the price settled already so letting them come through is not a waste of everyone's time. You and a good realtor can know how well your place will turn out in order to price it accordingly.
This is good to know too in case a contractor or inspector or someone driving through the neighborhood wanting to be in that neighborhood asks you how much are you asking. To me, it's just been easier and smarter to tell them whether they can see it now or not, that it will be suchandsuch when the [insert some sizzle] is finished. If they can't see it now, then they would be inspired to wait.
?? Who on earth is prepared to make an offer on the spot when they've spent all of 30 minutes checking the place out? Doesn't make sense.
Come to Denver and see it in action.
Inventory is at a [almost] record low.
You snooze, you lose.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yes, it does
