photo by LindeLou
I always suggest to my clients that if there is a reasonable item to be repaired or replaced, that they would do well to consider doing that before the home is listed or MLS photos are taken.
Many Realtors suggest offering an allowance to replace worn, outdated, and/or dirty carpet, for example. As a home stager with Re$ale Design & Home Staging, I view the situation differently. First of all, that carpet may be the one thing that potential buyers remember about the home and they will not remember it fondly. A home with undesirable carpet will appear overall to be worn, outdated, and/or dirty. Many people will " wonder what lurks therein".
Buyers will want a $5000 price reduction when in reality to "git er done" would cost $1500 or less. Not only that price difference is crucial , though. The whole home view and price is enhanced with new flooring materials in an up to date neutral.
Buyers will jump at the chance to quickly settle in to their new digs- selling and moving is stressful and tiring. Not everyone wants to start changing the carpet, especially with the moving boxes piled on it.
If you really want your home to show the best then do everything that you can manage to make it look the best.
A professional Home Stager will be able to advise you on what items are crucial to the appearance and therefore the sale of your home. Any home if priced low enough will sell, but is that your objective? Condition and appearance evoke emotional responses, make sure that they are good ones!
photo by Chad Johnson
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OK - how about this for an idea?
One on my BNI chapter members is a franchise owner for Nationwide Floor and Window Coverings. That's pretty much anything for floors and blinds for windows. They offer a "6 months good as cash" payment plan so that sellers could defer payment to Closing. Cost to owner $1500 (not even out of cash at this tough time) and price maintained by $5000.
Need a contact? http://www.floorsandwindows.com/
If the sellers just won't do it, I recommend that they get an estimate from a good carpet company, in writing, with samples if possible, and have it available at the house for the buyers to see, with an agreement that the carpet will be replaced with the carpet color of their choice, with the seller paying the price of the estimate, before closing. If you can work a deal like Alan mentions above, all the better. (Thanks, Alan, got to look into this here.)
Kathleen -- it is hard for buyers to see past the carpet and paint if they walk in and it needs a paint job and new carpet, those two things, as trivial as it seems makes a world of difference -- I just went through this with another seller who wanted to "wash" the baseboards -- uh, no -- they need painted. Didn't want to paint the door, but convinced them to do that too and it made a world of difference! Those two things are two visuals that buyers need -- it just makes such a world of difference. Good luck!
It's as if no-one has any imagination any more. Or is it that they are becoming educated enough to know that these small improvements don't cost much, so the homeowner has refused to do them, what else have they neglected? Or more importantly, there's financial pressure here and so the buyer can seriously low ball price.
You are so right Kathleen, do it ahead of time, and take those objections off the table. Priced right stuff in good condition sells.
I find that I am always offering this type of advice to my clients. Most of them are lazy and just want to give an allowance. Buyers always over estimate the cost of things. Above all your comment about 1st impressions is the most important - you can never get that back. There are lots of buyers that can't see beyond something as simple as carpet.
In this market, I'd say buyers are going to give themselves an allowance anyway by factoring the need for new carpet into their (reduced) offer. So if shabby or worn carpet is going to bring you a lower offer, or no offer at all, why not just bite the bullet and get it done beforehand?
Buyers these days aren't buying home improvement projects. They want it done and if it's not done for them, they expect a significant savings if they will have to do it themselves.
It's very true! Buyers' agents will use anything possible to negotiate the pricing, especially something so visible like the carpet.
Great post,
Cindy