Reply to Selling a house that is dated and "worn."

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Don't listen to realtors who tell you to renovate. It only benefits them (easier to sell and higher selling price).[/quote]

Um, easier to sell at a higher price also benefits the seller, genius[/quote]

Except the higher price isn’t a benefit to the seller if you’ve spent more than the gain on renovations.  It is a benefit to the realtor who makes a bigger commission.  [/quote]

You’re not very bright, are you?

The commission difference is negligible. An agent might net 100 basis points on a sale. If they get you another $10,000 for a house, that’s $100 in their pocket. Big wow.

The key there is selling quickly. That benefits both seller and agent. This is why interests align.

The biggest job in selling a home is removing all obstacles. So the real question for OP is do you want to sell it quickly or not? Updates are expensive and you might not recover the cost of them completely. But if it takes longer to sell your home, there is an opportunity cost to that, too.

Your fixation on agent compensation demonstrates just how stupid you are and proves you should not be opinining on these matters in a public forum.

And, since I can predict how your pea brain works, I will just cut off your lame retort by affirming I am not an agent, nor am I connected to the real estate industry in any way.[/quote]

DP. Our mortgage is only $2000. So even an extra 2 months on the market isn’t a huge cost vs the 50-75k the agent is trying to convince us to spend. [/quote]

DP. The problem here is that a house that sits for 2 months might go on to sit for 6 if the reason it doesn't sell sooner is that it has defects that are turn-off for buyers. What happens with houses like this is that they go through several rounds of price cuts and still can't get bites, but instead just get occasional low ball offers from the sorts of buyers who are not put off by these problems -- mostly investors who can take it or leave it.

What you do is say "okay we don't want to spend 50k but we are willing to spend 10k -- let's do the most glaring stuff and really clean it up" and that's your middle ground. It's really not just about having a low mortgage payment because you have to think about the opportunity cost of having your equity tied up in this house for months and months. The goal is to not have to beg people to buy your house (which is what it means to let it sit for months and keep having to lower the price). You don't have to renovate the whole thing but you can do a lot of things that will keep buyers from saying no right away -- in this market it is very worth it to get the house looking as good as possible in the online photos and to present the best possible version to potential buyers without a major lift.[/quote]

It’s sitting because it’s priced too high not because it wasn’t flipped on the cheap.[/quote]

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