One of the questions Realtors get asked most often by sellers is “What repairs and enhancements do I HAVE to do to sell my home?”
For most agents, the answer is none, if you’re prepared to wait for a buyer who is willing to accept your home in its current condition. In the 4th and 1st quarters of the year, that could mean a long wait, as the pool of buyers thins out and listings sit on the market longer.
Agents, and their motivated sellers, know that investing wisely in certain upgrades means shorter days on market and a significant leg-up on the competition.
One of the upgrades with the highest ROI – return on investment – is new flooring. Why?
(1) New flooring makes the most dramatic impact on the look of a listing. Whether it’s carpet, hardwood, luxury vinyl plank or tile, fresh new flooring looks stylish and modern and helps the listing smell fresh and new.
(2) Many buyers don’t have the time or the interest in waiting to move in while updated flooring is installed. They will immediately rule out listings with old, stained, smelly or otherwise undesirable flooring in favor of those that advertise new flooring as a selling feature.
(3) Many mortgage companies now are reluctant to allow contracts that include repair and update allowances, and buyers have been advised to avoid listings with flooring allowances, especially if they’re in a hurry to close.
The bottom line – the National Association of Realtors reports that new flooring can result in listings selling as much as 50% faster. That means sellers end up with a much higher profit by saving several mortgage payments and avoiding price decreases.
It’s important to note that installing the right flooring is crucial to maximizing ROI. At CSC Floors, we use our real estate expertise to help sellers choose the style and value of flooring that will appeal to buyers most and help sell the listing quickly. Our Territory Managers will take samples to the listing and recommend the best option for a fast sale. Or, we also offer a convenient and comprehensive Online Showroom that lets agents and sellers find the products they need quickly.
If you have a listing that needs to be optimized with new flooring, we’d love to help. Just contact us to set up an in-home consultation.
Hank and Judy
Hank and Judy Goldstein
The Real Estate Flooring Experts