While more-difficult credit guidelines have been freezing some would-be home buyers out of the market lately, I encountered a freeze of different sorts yesterday, and believe me, it’s the sort of freezing home sellers should avoid at all costs!
I took two separate couples out to look at homes yesterday, and each couple only wanted to see one particular house (different houses, widely-varying prices, different neighborhoods in Edmond). It was a beautiful sunny day with temps in the upper-50s and both houses had the heat turned completely off.
Now if you’re not from Oklahoma, this may not sound so bad, but this time of year, temperatures are like a roller-coaster here. One day you get temps in the 50s, the next in the 20s, the next in the 70s, then back down to the 30s. Needless to say, with the heat turned off, these homes were quite uncomfortable, but there are several reasons that a cold house is a BAD idea. The 3 reasons I consider most critical are:
- You’re ASKING for BIG trouble. Turning the heat off this time of year will often result in frozen and busted water pipes. You think the bill to heat your home is high? Wait until you have to pay to rehab a home that flooded after the pipes have burst.
- Quick turnover. When your home is on the market, you want the buyers to hang around… the longer a potential buyer stays and wanders around, the better the odds are that they’ll find things they love about your home. They’re also more likely to REMEMBER your home out of the many they’re touring. A cold house will run people off, sometimes before they even walk through the entire place. These two homes were actually much colder inside than the outside temp was. Guess how quickly they wanted to get back outside!
- Perception is reality. Guess what both of these buyers said when we walked in and they realized the heat was shut off; “Oh, they must be having money problems… I bet they’re desperate to sell.” Do you want buyers to assume that you’re in big trouble and desperate enough to take about any offer that comes along, or do you want to get the maximum you can from your sale? At one of these homes, there were actually two different bright orange cut-off notices lying on the ground by the front door… pretty clear sign that the heat being shut off wasn’t planned, which also says the sellers are probably struggling financially. Many buyers are already in ‘low-balling mode,’ believing that every seller is in really bad shape. They’re just looking for more signs of desperation.
Keeping your home comfortable will go a long way toward helping buyers fall in love, and maximizing the amount you’ll be offered for it.
[where: Edmond, OK]
About Ryan Hukill
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