Estate Attorney Newsletter / JUL 2020
Successfully selling an estate-owned home can be summed up in the Five P’s: Preparation, Personal Property, Product Merchandising, Pricing and Proceed at Your Own Pace. Please share these tips with your clients faced with selling an estate-owned home so that they can earn top-dollar for their asset and feel empowered in the process, and encourage them to be in touch about our unique and extraordinary marketing and sales programs. We specialize in the logistics of successfully prepping, photographing, marketing and selling, of estate-owned homes, efficiently and with the least amount of stress.
MICHAEL SHAPOT, ESQ.
All properties should be presented to prospective buyers in their best possible light. This always includes a deep cleaning, minor repairs, touch ups and edits. Just as you wouldn't sell a car without detailing it, a property must also be “detailed” to be sold. Remember… the cost of proper home preparation is always less than the first price reduction.
Items of personal property need to be taken care of. This can mean distributing to beneficiaries as per the will, appraising and selling items of value and finally, donating or discarding the balance. All of this entails packing, professional moving, storage, and pick-up from various vendors.
A residence about to come on the market is no longer a home; it is a product to be merchandised. Sentimental and personal items must be removed, and the overall aesthetic of the property should be universally inviting. A property stager is vital to this process. Working with organizers, painters and furniture rental companies, the stager’s job is to create a tasteful space that people see firsthand as being their home.
Once a property is market-ready, fine tuning its price is the next order of business. Pricing requires strategic and high-level thinking from a real-estate agent. Pricing includes the analysis of comparable sales and also accounts for the value added by killer marketing, top-notch photos, compelling web copy and modern video content. Finally, an agent needs to demonstrate salesmanship and negotiating ability to earn top-dollar for a property. It is vital that your agent demonstrates these critical qualities and a deep understanding of the power of marketing… if they don’t, money will be left on the table.
PROCEED AT YOUR OWN PACE
Selling an estate-owned home is undoubtedly an emotionally stressful and challenging time. Estate administrators may have had a close personal relationship with the decedent, the decedent's family and the possessions left behind. Sorting through these cherished items and making decisions is overwhelming. Try to relax, cherish the memories and don't hesitate to seek help and support from friends, family and professionals.
If you have any questions, or would like a personal consultation, please contact us.