by Paul Pastore
There is a reality show on T.V. called Pimp My Ride. The owner of a dismal car is surprised when they are selected to have a major makeover done on their vehicle. The changes are amazing and include paint, stereos, tires, wheels, upholstery, and sometimes hydraulics.
Wouldn’t it be great if sellers who expected a premium price, would ‘pimp their house’ before putting it on the market?
This week I met a seller who wanted an elevated price. Their plain home had no upgrades. The kitchen flooring was vinyl. The counters were laminate. The carpeting and padding were basic. Seven of the ten dual pane windows had condensation suggesting a broken seal.
The seller wanted a sale in 30 days plus a premium price, but was reluctant to ‘pimp their house’. They wanted to sell ‘as-is’. They heard that Canadians were following the seasonal geese, migrating to their area with pockets stuffed with cash. They were told this cash sale would not require an appraisal to justify their value.
At times it’s easier to sell an idea with an analogy or metaphor. I mentioned that house prices are like gas prices. There are regular, hi-test, & premium fuels. The gas is priced based on the amount of octane in the mix. House prices are more complex, but rise based on the amenities and condition.
This seller smiled but insisted they wanted the higher price in 30 days without ‘pimping their house’. They gave me two choices, take the listing on their terms or leave it.
David Knox asks the rhetorical question, “What’s better to have, a dead dog or an empty kennel?” I chose an empty kennel.
As I left the property, I saw a flock of Canadian geese honking and heading north for the summer. And, I could have sworn a few of them dropped something on the house.
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