Help your clients make more-informed decisions by discussing repairs and replacements with them.
The listing price doesn’t tell the full story of what the home will cost. That great bargain may not look so great if a major renovation is needed.
Repairs and replacements can include:
- Parts of the house itself, such as the roof, electrical wiring, or plumbing
- Major built-in appliances, such as water heaters and HVAC systems
- Other appliances that convey, such as refrigerators and washing machines.
For seller clients, showcase any recent repairs, remodels, and replacements when marketing the house. A new roof or new appliances could motivate buyers to choose your clients’ property over someone else’s.
Buyer clients should factor in the cost to replace any feature or system that is near the end of its use life. Sellers may not know the exact age of a feature or appliance, but a rough estimate can help buyers plan for future upgrades. Clients may have a difficult time replacing a roof or water heater on short notice if they were not expecting the expense.
Remember not to practice outside of your expertise when discussing these issues. For questions about when to replace appliances, systems, or components, direct your clients to reputable resources, such as licensed inspectors and trustworthy sources of information.