Will realtors point out home renovations to improve the value of a unit?

Asked by James, Manassas, VA Sat Dec 1, 2007

I'm thinking about selling my unit in 6 months, but I think my home needs some improvement. Will realtors visit my home if I ask them to cover over, take a look around, and give suggestions on what can be done to increase the value of the place?

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Deborah Madey, Agent, Brick, NJ
Sat Dec 1, 2007
BEST ANSWER
HI James,
I think it is a great idea for to ask Realtors to come over and share their opinions on this matter w/ you. What I would suggest that you do is ask for feedback about what buyers are saying they want, what has been the condition of the units most recently sold, and what reasons have buyers voiced as objections to currently offered properties. Any decision about renovations do represent a risk. Undoubtedly, any Realtor will advise you clean, declutter, and clean again. Once you cross the line into actual renovations, it becomes subjective, and what one buyer will want may be what another buyer will walk away from. For that reason, I suggest you ask Realtors to share w/ you the feedback as it collectively represents the buyer wants and needs. In the end, you will need to gage what risks you are willing to entertain.

Regards
Deborah
0 votes
Keith Sorem, Agent, Glendale, CA
Sat Dec 1, 2007
James, one of the main reasons sellers talk with Realtors is to discuss how to add the most value to their property when it is on the market. Most top Realtors work closely with their clients, sometimes for a long time in advance of the sale, so when the home does go on the market, everything is ready.

If you live in a building where there are units like yours for sale, I suggest having a look at the and see what the current owners have done. Remember that buyers and their Realtors are looking for value. If the average buyers sees 12 homes, you want yours to stand out.

Good luck!
0 votes
The Hagley G…, Agent, Pleasanton, CA
Sat Dec 1, 2007
I would recommend selecting three Realtors to come and give you a comparative market analysis. At that time, they will offer up suggestions on what they think should be done.

As a Realtor and an investor, I have found thatI have not been able to get 100% of the dollars back that I have put into rennovations before the sell. Paint is cheap.....appliances are not. Good luck!
Web Reference:  http://www.cindihagley.com
0 votes
Gail Hiebert, , KCMO
Sat Dec 1, 2007
Hi James. The answer is: maybe. Not all realtors would do this, nor are all realtors capable of doing this. An experienced reale state professional might be able to help you in this regard, but a word of caution for you. What if someone comes over, gives you great ideas of what can be done to improve the property for the market, you take up their suggestion, do the improvement at the cost of 10K plus, and later find out it still won't sell because of a different reason, like location, neighbors, etc? Would you blame the real estate professional in that case? Would you want to know something else first, like, would it be worth spending xxx $ on this unit and if so, how much would it improve my asking price? I think that would be the first question on my list..Hope this helps?
Web Reference:  http://www.taxcats.net
0 votes
J R, , New York, NY
Sat Dec 1, 2007
I always tell my potential clients what they need to do to get their home sold. I show them other homes that have sold and ask them if they want theirs to sell, or if they want theirs to sell the competition.
0 votes
Sylvia Barry,…, Agent, Marin, CA
Sat Dec 1, 2007
Hi James:

I would go ahead and get referrals on a few reputable Realtors in your area. Tell them exactly what you say here, and ask them to come over and give you their opinion on what needs to be done and possibly the market value of your house (as of today - with the way the market is, it might be difficult to project where the market will go in 6 months). If you think the property might need improvements, ask them to give you options if possible.

As long as you are upfront with the Realtors, they will be very happy to come and help out. One thing, though, please treat them as you would like to be treated - If you do ask them to come over, please let them know your expection of them and your future plan; if any. Please also let them know as soon as your plan changes, this always works the best for both sides.

Best,
Sylvia
0 votes
Francesca Pa…, , Monmouth Cty NJ
Sat Dec 1, 2007
There is always a fine line between offering feedback and insulting a seller, so, therefore, you will need to ask them to provide that type of feedback.
0 votes
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