Sound Off: How do agents address a home’s drawbacks?
A: Sellers have the hardest time seeing their property’s shortcomings. They have lived there and have memories and the emotional history can hinder objectivity.
I have found that the most effective way to communicate the shortcomings of their property is to show them and not tell them.
I will have them assess a couple of properties on the market that are comparable to their own and ask them to tell me the pros and the cons of each. I will then say, “Compared to these properties, how would you evaluate your property through potential buyers’ eyes?”
It is hard when people are emotionally attached to their home to see the negatives, but if they are looking at several houses at once through buyer’s eyes, it is often easier for them to be objective. I will also show them a side-by-side comparison of three properties verses their own.
Then I ask them on a scale of one to 10, to rate the condition of the kitchen and bathroom for each property. Since these are the main things buyers look at, they can see how their property stacks-up relative to the competition.
Buyers on the other hand, tend to be overly critical in our market since we have such high prices and little inventory. If someone loves a house and does not see the potential risks or repairs needed, then I have a direct conversation of everything I see that could put their investment and enjoyment at risk.
Meghan Duffy, Paragon Real Estate Group, (415) 652-0677,
mduffy@paragon-re.com. A: In real estate, a shortcoming can be very subjective. Perhaps more telling are the items shared in the seller disclosure package.
This will ideally contain preinspection reports from a general contractor — which covers the property components — and a pest report. A natural hazard, permit history and any other reports pertinent should be included.
A condo or co-op apartment will include HOA docs, including financials and minutes. Reviewing this package prior to an offer can help my buyer clients determine if this is the right property.
A shortcoming to one might be charming to another. Much of the city’s housing stock dates from the 1900s, or even 1800s, and many “quirks” abound. Someone may like period vintage charm or like the opportunity to remodel, while another party may be resistant because they do not want a project.
When I represent a seller, we tour the property together and review its obvious characteristics. Then we discuss the non-tangibles: a favorite reading nook, what makes them smile about being there, where does most entertaining occur?
These are much harder to quantify in a disclosure package, but they carry a lot of weight when I can share them with buyers. This is part of the beauty of San Francisco real estate; every property is different, and every buyer is unique. Paul Ybarbo, Sotheby’s International
Realty, (415) 640-7281, paul.ybarbo@sothebyshomes.com. A: It is my practice to let buyers decide for themselves what the shortcomings of a home are.
When touring properties, I try not to color general perceptions of a property with what I think won’t work for them or with what my opinions are. I listen carefully to clients’ feedback when first touring homes and make notes that inform my recommendations for future home prospects.
The bottom line is that buyers’ preferences change over time and often the homes they end up buying are fairly different from what they set out to buy.
When referring to disclosed condition issues revealed in reports etc., I will be more opinionated if these issues appear to be deal killers, but ultimately it is the clients’ choice as to how and if they want to move forward on a property.
I am straightforward with sellers about the best way to present their home to the market and, if I feel that there are shortcomings that could be distractions for buyers, I will advise on what I feel the best ways would be to improve or remove those issues. We work the best we can with what we have.
Scott Woods, Pacific Union Real Estate,
(415) 419-4510, scott.woods@pacunion.com.