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Get the Maximum Price for Your Investment Property

In over 21 years as a real estate consultant, I've seen sellers make some big mistakes by not properly preparing their property For Sale. This article is a public service that will alert you to some of the most common errors, give you some ways to help your home or condominium shine in a buyer's eyes, and furnish you with a free customized computer report of the properties presently For Sale and condominiums that have recently Sold in your investment property's neighborhood.

A mistake I see sellers often make is failing to do the simple things that cost little money, yet always make homes sell for thousands of dollars more. If your property is logically a good value, but buyers don't feel warm and emotionally attracted to it, you will receive lower offers. That’s because buying a home is an emotional decision on the part of the buyer. Often the buyer doesn't even consciously know why they like one property more than another... they just do. Decisions are made on a deep subconscious level tied into what makes them feel comfortable, safe and secure. That's why it's so important to make sure your investment looks, feels and smells its best. Remember that you're competing with other homes For Sale in your price range. Since buyers buy on emotion… let’s look at how your investment property can be the cleanest, freshest and cheeriest. This will lead you to a much faster sale… at a higher price.

Here are the four most powerful factors to help ensure that buyers experience a good feeling when they see your property:

1. The Cheer Factor: For maximum visual effect, clean and open all blinds and curtains, and make sure your windows are spotless. Tasteful and up-to-date decor is your best investment for getting a greater return on your money. Paint and new floor coverings make the property smell clean and neat. Faded walls and worn woodwork detract from your unit's appeal. Don't tell a buyer how your home can be made to look, show them by making it look great! A quicker sale at a higher price will result. If you do not live locally, ask for referrals of house cleaners, painters, and other vendors from your property manager, homeowner's association, or the Better Business Bureau.

Generally, you can expect to receive two to three dollars back for every dollar you invest in tasteful décor. Sellers also lose thousands of dollars because they do not adequately clean. If your home is squeaky clean, you will be able to sell your property faster and net hundreds, if not thousands of dollars more.

2. The Access Factor: Buyers and real estate agents are busy. They're looking not only at your property, but fitting it into a schedule that allows them to look at other properties as well. The more flexible you are with your showing schedule, the more buyers are apt to look at your home. If your property is occupied by a tenant, rarely will it be easily accessible or show its best. The tenant has little or no motivation to show the property in its best light so it is usually unwise to leave the property occupied once you decide to sell.

3. The Distraction Factor: Do everything you can to minimize distractions for the buyer. Most people are turned off by even the smallest amount of un-cleanliness or odor when purchasing a home. Odors must be eliminated, especially if the property was previously occupied by dogs, cats, young children in diapers or a smoker. You or your previous tenants may not have noticed the smell, but the buyers do! Most agents have a difficult time communicating to their sellers about odor. If you employ an agent to get the most amount of money for you, please don't take offense if he or she confronts you about any odor problems that your property may have.

4. The First Impressions Factor: It is estimated that more than half of all properties are sold before the buyers even get out of their cars. A visually pleasing and well-cared-for exterior invites inspection of the interior, since your care of your front door and entry reflects the inside condition of your condominium. Even if you have a Homeowner's or Condominium Association, you may need to have leaves raked, flowers planted, walkways blown and debris cleaned away . Get windows washed. This all adds to curb appeal. If a buyer gets a warm, welcoming feeling at first glance, they will be more likely to view the inside in a positive light.

These four factors will each play a significant role in helping your property sell for the best price. However, there is one, final, most important factor to consider… and that is your competition. People don’t look at just one house and then buy. They look at 15, 25 or 50 properties before making their buying decision. How does your property stack up against the competition?

It’s now possible for you to obtain an up-to-date report, customized to your size home or condo, of all the properties presently for sale in your neighborhood, as well as a list of all homes that have sold in your neighborhood over the past six months. This gives you insight into your competition, and a snapshot of what buyers are willing to pay.

To obtain this report, just email me at david@davidgallup.com or give me a call at my office at 407.571.3676 with the following information about your unit:

  • Number of bedrooms and bathrooms
  • Square footage (under air/heat)
  • Whether your property has water frontage or water access
  • Name of the neighborhood or condominium development
  • Email address, fax number, or mailing address where you would like to receive the report

I'll program our computers to search your competition – the recent sales of similar properties – and e-mail it, fax it, or put it in the mail to you. This is a no-cost, no-obligation service that I provide to sellers.

Best wishes on the sale of your investment property!

Aiming for Excellence,

David Gallup
The Hard Working Nice Guy – Your real estate consultant for life!

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David Gallup - The Hard Working Nice Guy!
RE/MAX 200 Realty

Each Office Independently Owned and Operated
954 S. Orlando Ave. Winter Park, FL 32789

407.629.6330 x215 * 800.458.6863 x215
david@davidgallup.com