Today we conclude our discussion about the seven reasons a property sells: this episode is all about expertise. Thank you so much for tuning in to the Real Estate Today podcast.
I’m Bob Nelson. Real estate investor and broker with PacWest Real Estate Investments. And I’m Marcia Edwards. Residential broker with Windermere Real Estate.
Marcia Edwards: We’ve been talking about the greatest influences to a successful sale, or what may be preventing a successful optimum sale. We talked about the condition of the property last program. The terms of the financing. The location of the property has influence. The timing, when you choose to put it up for sale. What price, and how it’s positioned among the competition. We’ve talked about the marketing and exposure. Let’s talk expertise today.
Bob Nelson: Expertise is an interesting thing. That in my opinion comes to several people. The landscaper. The expertise of a person to bring the property to its best position. The real estate broker is probably the most critical expertise that you would be able to obtain. Of course, you hire them on the basis of a contingent fee. If they don’t get the job done they don’t get paid, bottom line.
Marcia Edwards: Expertise is talking about, you’re right, a range of services and a range of people. You need someone to choreograph the entire event from the beginning to end. Let’s say you’re in a house that does not fit you anymore and you need to downsize. I need to help you with, who’s the mover? How are we going to get it moved? Landscapers, you mentioned. I’ve got to look at the pricing. I’ve got to look at the marketing plan. Look at talking to a stager about getting it ready. There’s a whole herd of people, but there is someone that’s navigating that.
Bob Nelson: As somebody that understands what the perfect picture looks like, and that’s the broker. The broker understands, “If this thing looked like this, I would have an easier time of attracting more interested parties to the property”, and that’s exactly what you’re after. Go out on the back porch. You’ve got a backyard full of dogs. You’ve got one soup bone. Bang the soup bone on the side of the house, hold it up. Watch what happens. The dogs will compete to get to that bone.
Marcia Edwards: Wow.
Bob Nelson: Now that’s maybe a bad analogy. But I mean –
Marcia Edwards: Okay, the bone is the house. Alright, I’m with you.
Bob Nelson: Yeah. Are we selling the bone or the house? I don’t know.
Marcia Edwards: Expertise talks about the things that are not on the property too. Preparing, taking a peek at the title. Make sure it’s clear. Taking a peek at the profit and loss if it’s investment real estate, and understanding what’s there and how it looks to the new set of eyes.
Bob Nelson: Well and to a great extent it’s working with that owner of the property to satisfy them with what they’re going to be doing next. With me it’s a tax deferred exchange. That expertise is huge when it comes to a sale.
Marcia Edwards: I’m Marcia Edwards, Windermere Real Estate.
Bob Nelson: And I’m Bob Nelson, real estate investment broker with PacWest Real Estate Investments.
Join Bob Nelson and Marcia Edwards Eugene, Oregon, real estate experts daily at 5:30 on KPNW for the “Real Estate Today ” radio show.