Strategies For Selling Your Boulder Real Estate

If you are thinking of selling your Boulder real estate, there are some strategies that you might like to consider before you get started. Without a strategic plan for selling, you are probably just shooting in the dark.

I was inspired to write more about this after reading a WSJ article in early August. One thing that struck me is that the seller talks about what he and his wife have invested in the house, and whether or not they will get that money back when selling.

There is plenty of data to support the fact that you never get 100% of what you invest in upgrades back out of a sales price. I often tell sellers that the time to upgrade is long before they think about selling if they’re concerned about return on investment.

Part of the return on investment is in having the pleasure of the use of the house with the upgrades, another part of the return is in the higher sales price, and the final part is that you get improved marketability when you finally put it on the market.

In the article, the seller describes how his wife and he disagreed about changes. Some of these changes amount to deferred maintenance such as repairing rotten siding, (this should not be calculated into the cost benefit of the improvement against the sale price). Another change was a relatively minor update to the kitchen which included granite counters. This should have been done several years earlier, if they like granite, and knew, given his job status, that they would move again fairly soon.  The kitchen upgrade may improve marketability, but is not a very reasonable change to improve price significantly.

Another thing that struck me is that the sellers, and their Realtor, chose to wait a full month before considering a price reduction. When markets are moving quickly, as they appear to be in many regions of the U.S., waiting 30 days is a very long time.

In my view, even in the relatively stable Boulder market, you’re missing an opportunity to get a home sold if you wait this long to adjust price. Assuming, of course, that you’ve done everything else that should be done to market the home properly. Many Realtors do not do that, and it’s a shame to short-service sellers that way.

I have a 10/10/30 price marketing plan that I recommend to all my sellers. I’d be happy to share that and the other parts of my marketing program with you when you’re ready to consider selling.

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