Products Matter Too

A while ago I posted about how marketing really matters. Well, having a good product matters too. I just sold my house. I have a 3 bedroom townhouse and I didn't have a problem selling it. I ended up selling it privately and sold it for what I wanted for it. My neighbor has the same model from the same builder as me so I told her that she shouldn't have any trouble selling it. In fact, she even has put $11,000 of upgrades into it including a shed, a deck. Also, she has a finished basement, which I do not - which should be another $10,000 or so. She's only ASKING $10,000 more than me, so someone should easily give an offer a few grand below that and she's willing to take it. The problem? She hasn't had a single call. Not one. In two weekends of open houses, she's had one or two visitors. That's it. Two. I had 6 calls in the first day. For the longest time I didn't get it. Her house is clearly worth more than mine. We have the same model from the same builder, but she has tens of thousands of dollars of upgrades. What could possibly be the problem? And then it dawned on me. When we built our houses, we had the choice of a 3 bedroom, or a 2 bedroom and loft. I chose the 3 bedroom partly because I don't really get the point of a loft and partly because of resale. My parents have always told me to think about resale when I buy or build a house and boy were they ever right. One simple choice that perhaps didn't seem to matter much to some people, but fast forward to the day when we're trying to sell our places and I am stress free with a buyer and she's desparate and liklely going to lose her chance to buy her dream home. And when she finally does sell, it very well may be for much less than mine, despite all the upgrades in her home over mine. Choose your product VERY carefully. One tiny difference from a competitor could make ALL the difference.

Flip