We’ve been talking about pricing and the market trends. Things are shifting, and buyers are going to reach, but not too far, for what you’ve got to offer. You’ve got to really bring the property to them.
Featuring:
Bob Nelson, Eugene real estate investment broker
Marcia Edwards, Eugene residential real estate broker
Bob Nelson: So is that because they have more options, they sense that they’re not rushed to a point where if they see something that’s even close they had better be offering on it or it’s gone? Is it a change in the market?
Marcia Edwards: It is. It’s a calmness. It’s a I’m not going to pay too much. It’s a perception that there’s something that’s going to drop and not appreciate any longer. It’s not the case. I don’t think we’re going to go into a depreciating market, but the frenzy’s definitely behind us, even though we’re in the Spring season.
Bob Nelson: And that’s an interested situation. That’s not necessarily the case with income properties, rental properties. It depends on where the rent is on an income-producing property as to how people get excited. But they also understand that their options are the stock market, the bond market, or a more stable real estate market, and they get excited about the opportunity to own something free and clear 20 years from now, in their retirement account.
Marcia Edwards: Regardless of whether it’s this market or another, the more prepared you are to be successful with a buyer, the more successful you’ll be, and your net return should be reflecting that. So in looking at, for example, I just recently saw you working on a property, getting it ready to list. You were getting the inspections done. You were getting it cleaned up. You were going to make sure that the branches were no longer down in the yard or the roof, and that preparation is relevant. It makes confidence when people pull up to the curb from the very get-go.
Bob Nelson: You’ve heard the old adage, “You don’t get a second chance to make a good first impression,” so if you lead out with something other than your best shot, whatever that is, you’re going to get treated that way.
Marcia Edwards: Especially in the swipe world. Swipe, is it right or left? We should know that, but the point is that when they’ve eliminated you for some reason, may be very superficial. It may be one photo with the dated floor covering and they’ve decided the whole house is outdated. Those decisions are made that quickly, and you’ve got to look through a lens that thinks that way and is looking at it that way when you’re putting a property on the market.
Join Eugene, Oregon, real estate experts: Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments, and Marcia Edwards, Residential Real Estate Broker with Windermere Real Estate, daily at 5:30 on KPNW for the “Real Estate Today” radio show.
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