WRITTEN by JOHN MORRIS
Getting the most value out of your Roatan property…
So, it is time to sell.
No matter the reason or the location, you need to get every single penny out of your investment as there is no way you are going to let your precious property go for less than what you have invested.
Am I right? Well, you may be wrong.
First rule to remember is… not everyone is you. Beauty is in the eye of the beholder and love at first sight does exist, but only if you can get the buyer in the door.
Realtors are constantly asked “What is my property worth?”
Definitely a loaded question. Sure we want your listing but we also do not want to disappoint you, the seller, by offering a price below what you are expecting.
On the other hand, over-valuing a property will not bring buyers. It’s a fine line and often a touchy one.
In the automotive industry, it is often said that the whole is worth less than the sum of the parts. The concept is true in real estate, too. You cannot base your selling price on what you paid originally plus your improvements. It just does not work that way,
Then, how do we, as realtors, price your home?
First, let’s address the age-old cliché that everyone thinks a realtor will tell you –location, location, location.
Sorry but that makes my skin crawl. Yes location is important, but it is only important to the specific buyer. This may come as a surprise but not everyone wants to live right on the beach.
What’s most important is the status of the current market combined with a comparison of similar sales and listings. Here on Roatan this can often be difficult.
Though the island’s real estate market is experiencing a boom right now, it is still a small market and comps can be hard to come by. So you have to dig further.
You need to get into the head of a buyer who has a specific budget… and we have to explain why this particular house is worth the asking price.
For me it is not location, location, location but rather condition, condition, condition.
We advise sellers to take the time, make the effort and spend some money to get the property as pristine as possible. Not everybody wants a fixer upper (sorry Chip & Joanna).
Your efforts to paint that room, stain that deck or simply cleanup will pay off. It will show in your photos and good photos bring buyers to you. An image with peeling paint and dirty socks on the couch does not do the trick.
Speaking of dirty socks, stage your home prior to a photo shoot. This almost always requires a second set of eyes. Do not throw things away prior to a photo session – repurposing or repositioning of items can make a huge difference.
Every realtor wants you to get the most for your property but our real job is to sell it. When you list with a realtor, think of it as signing a contract with sports team. It is a group effort.
In the movie Jerry McGuire, Tom Cruise begs Cuba Gooding Jr., “Help me… help you.”
That’s my two cents, for what it is worth.
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