#WinningWednesday: Big Savings and Big Wins
Coordinating the various vendors to do the improvements in a timely and cost effective manner was important and the seller was concerned that this would be a challenge. In addition, the owner wanted to ensure the timeline for the rental’s vacancy was as short as possible. So we viewed the home while it was still tenant occupied and made a detailed plan of action to get this house in tip top shape! After we presented it to our client we got to work immediately!
We discussed pricing strategy and determined a price that was slightly above market value but still within a reasonable range to expect from a motivated buyer. Our team coordinated the entire project from staging, carpet, vinyl flooring, paint, repairs, and even backyard landscaping. Once our repairs were complete, we put together beautiful marketing for the new and improved property, consisting of our tried and true marketing strategy. In addition, we leveraged our existing database to capture interest from multiple buyers for this property,
Here is where we saw some big wins for this client. By using our vendors, the client was able to save money on renovation costs. We ended up listing the home for about $5,000 higher than what we considered to be "fair market value" and we relied on market conditions and exceptional marketing to bring the sale price up. Despite receiving just a handful of offers, we could tell each interested buyer truly saw the value of the home.
The end result granted us a quick close at $26,000 over our original listing agreement price. What a win for our seller who didn't have to do any heavy lifting on a long time rental property. They were even surprised to discover that they were not going to have to be in person for much of the process. Knowing we would handle everything was a huge burden lifted off their shoulders. Another great win for one of our clients!
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