The Last Ten Percent
Yes, it’s tougher times in real estate. The real estate balloon burst and the loan markets tumbled. But, homeowners still buy and sell homes for a variety of reasons, both fortunate and unfortunate.
Real estate agents still compete for the opportunity to list a home. Real estate markets in different locations throughout the country experience very different market forces. Some markets like the San Francisco bay area have strong pockets where real estate values remain steady and some homes continue to experience multiple offers. Turn-key, well-located and beautifully presented homes in these pocket areas bring hope to other recovering markets.
At NurtureSource Designs, a home transformation company is based in one of those pocket areas where people still continue to buy and sell their homes. However, even within these pockets some homes are highly sought after and some languish. Why do some homes do well and other not? Some will say it is location or price. Others consider the age and condition of the property. We have seen another factor we call move-in readiness. That’s what we do. We help homeowners prepare and present their homes for sale. Why do so many of the homes we work with achieve strong success. It’s what we call “The Last Ten Percent.” That is a commitment by the homesellers and their real estate agents to present a home in such a way that its stands out from the rest in appearance, condition and relative price-to-value. We work with scores of real estate agents that help their clients receive the last ten percent. That’s the difference between an $800,000 home sale and a $720,000 home sale. What about that last $80,000. From our view it’s the difference between a well-present and not well-presented home. More importantly, that last ten percent typically pays for the real estate commission cost and the preparation/staging cost to complete the transformation.
Also in our experience we have noted not all agents and their companies strive to get the last ten percent for their clients. You can see that by tracking individual agents and their listing history as well as within certain companies. The company culture is not always pointed in that direction. Some discount brokers fall short of this objective as well as some high-end realtors who simply play roulette with their clients and “get lucky” with some homes and pass on others. Unfortunately, this less than optimal attitude can strike anywhere.
How do homeowners avoid agents not fulfilling the Last Ten Percent approach? Research and get recommendations. Do not assume the popular name of an agent means anything. It may but it may not too. It’s too important to the homeseller to not seek and procur the services of an agent and associated companies that works to achieve the last ten percent. Home values are still large enough that we are speaking about a considerable amount. You will be happy with the results, we guarantee it.