Residential

Shopping for a new home is an adventure. Searching for the “perfect for us” place involves knowing what your needs are vs. what your wants are. That’s why it’s important to ask good questions to find the best answers, so your vision of your new place becomes a reality. Family meetings, discussions, lots of paperwork, and a few open homes are in your future. Are you ready to begin the search? 

Four walls, a roof, and a floor that is NOT your garage or home offers multiple benefits, the first of which is having a dedicated area to work and manage a business from. The second is a location for customers known and new to get to know your company. Various businesses from restaurants and offices to strip malls, including coffee houses, bars, spas, salons, urgent clinics, health clubs, yoga studios, athletic clubs, gyms, banks and faith based organizations--all need rooms, a door, and storage space to conduct transactions. Looking for more space, a new place, or just need somewhere to land for now? 

Space--a business’ frontier. These are the places where companies offer their products and services to those who need them. 

Industry or manufacturing is built upon the land it occupies. Some companies lease land from other parties, but most buy the land, purchasing any buildings, and either keep them, or demolish them so they are replaced with buildings and equipment that suits the manufacturing needs of the owner. 

In the Reno, Nevada area, the big industry is warehousing with some manufacturing tied to those facilities. So many companies have warehouses and manufacturing plants within Washoe and Lyon counties. Companies like Amazon, Barnes & Noble, Mary’s Crackers, and Vista Print are located in South Reno or out in the North Valleys. USA Parkway in Lyon County there is, Zulily, Tesla, Walmart, just to name a few. 

Industry is booming in northern Nevada because there is so much land available to construct new buildings. Reno is the “Biggest Little City” in Nevada, and the 85th largest city in the US. according to the World Population Review 

Sellers’ Page

When It’s Time to Sell--Do These Three Things

FIRST

First, no matter the property type, residential, commercial or industrial, the first step is to clean

up and declutter the space, so it is as presentable as possible. The property needs to look

inviting to prospective buyers. Clear the clutter, so the buyer can see their family or business in

the space.

The next two steps involve third party reviews of the property:

● The Inspector / Inspection

● The Appraiser / Appraisal

Why are third party reviews of the property so important?

Pricing is a Strategy

Pricing is about hitting a target number that intrigues buyers and gets them through the door to

see the property.

● Set the price too high and the type of buyer you’re looking for may not even look at the

property.

● Set it too low, and you’ll get hits, but they may not be the buyer you’re looking for either.

Attracting a buyer is about capturing their attention through visual interest, the right price, and

by highlighting how the property accommodates specific wants and needs.

Hitting the mark of want, need, and have to have is where a savvy realtor with strong

negotiating skills works in your favor.

SECOND

Inspections

The last thing that a seller wants to learn is that their property has damage, which is a two-fold

hit.

● The first blow is that funds may be needed to complete repairs, depending upon their

extent.

● The second blow is that damage to the structure does impact the pricing strategy for the

property.

● That’s why it’s a must to have an inspection of the property before revealing a price on

the MLS.

Remember, a property inspection is seen by the seller. The report details explain the status of

the structure and any issues with the structure that must be repaired. The seller can repair

damages to the structure to increase the value of the property. Repairs to the property will be

necessary if they involve the integrity of the structure or severely inhibit the property’s function.

THIRD

Appraisals

After an inspector has reviewed the property, and after any repairs to the property have been

completed, an appraiser can be scheduled. An appraiser’s job is to review the property to

determine its monetary worth. Knowing the value of the property allows the seller to have a solid

pricing strategy--one that has two, third party reports behind it.

Yes, typically, an appraiser reviews the property on behalf of the lender, the buyer’s lender.

However, appraisers are not involved in the buying or selling process.

● The appraiser’s job is to take into account all attributes of the property to determine the

property’s value, which is what the lender wants to know before they loan funds to a

buyer.

● Appraisers have multiple items that they look at including, the interior of a property, the

upkeep of the property, and any amenities on or made to the property, such as

swimming pools, additions, and built-in backyard kitchens.

● Appraisers also check on any health or safety code violations, recording the square

footage and layout of the property to determine the type of property.

While an appraisal is usually requested by the buyer’s lender, an appraisal can be paid for by

the seller to accurately price a property. When the seller uses these two reports to create a solid

pricing strategy, a price discrepancy is avoided. However, if a seller does not want an appraisal

and waits for a buyer to begin the process, there could be a disparity in the value of the

property.

Here’s where a savvy realtor, who knows how to create a win-win situation for both owner and

buyer, really knows how to work some magic. The appraisal may come in below or above the

selling price. If that happens, your realtor will have some room to negotiate a price that will work

for both parties, creating a solution where each party thinks they got the better half of the deal!

An inspector is hired by the seller and reports to the

seller the condition of the structure.The inspector is an

advisor to the seller and has no role in the selling or

buying process. The inspector’s role is to generate a

report that focuses on the condition of the property

at the time of the inspection, not its value.

The next step before selling a property is to hire an inspector to review it to uncover any

structural damage. The inspector will complete a report that will explain if there are any serious

problems with the house, such as insect or rodent infestations, or more serious issues like

structural damage. The inspector’s report will also show any repairs that need to be completed

before the property can be sold. (do you want this instead?)

Inspections (do you want this?)

Now here’s the tricky part, and where a savvy realtor can help, some items have to be fixed,

such as foundation issues, serious roof damage, or any structural damage that will significantly

lower the price of the property, or makes the property uninhabitable. Some items don’t have to

be fixed, like remodeling a bathroom or beautifying the backyard. Yes, the value of the property

may not go to new heights if the house needs some repairs, but it also may not significantly

impact the price of the property either. Knowing the difference between the two is how a good

realtor helps you decide where to spend and save money. It’s also where an appraisal of the

property plays a role.

Appraisals

After an inspector has reviewed the property, and after any repairs to the property have been

completed, the appraiser reviews the property to determine an accurate value and monetary

worth. Appraisers have multiple items that they look at, such as the interior of a property, the

upkeep of the property, and any amenities on or made to the property, such as swimming pools,

additions, and built-in backyard kitchens, for example. Appraisers also check on any health or

safety code violations, recording the square footage and layout of the property to determine the

type of property. Typically, the appraiser works for the lender. Appraisers are not involved in the

buying or selling process. The appraiser’s job is to take into account all attributes of the property

to determine the property’s value.

Appraisers are usually chosen by the lending

institution of the buyer. It behooves the lender

to have a qualified, certificated appraiser to evaluate

the property, so they have a reference for the loan

amount that the buyer qualifies for to purchase the property.

Again, here’s where a savvy realtor, who knows how to create a win-win situation for both owner

and buyer, really knows how to work some magic. The appraisal may come in below or above

the selling price. If that happens, your realtor will have some negotiating room to implement a

strategy that will work for both parties.

If the repairs are miner, then it is up to the seller how to handle explaining those repairs. Those

repairs may be seen as a valuable way to provide a lower pricing strategy. Or if the seller would

like to repair those items, then they very well may increase the pricing strategy.

The goal of pricing is to offer an amount that attracts the type of buyer who will value the

property and price.

The appraisal to reflect a price for the seller and the buyer that will be a win for both parties. The

seller feels as if they got a great return for their investment, and the buyer knows that they got a

great deal on the property.

Let’s say that you and your realtor start talking and the comps are reviewed, and the property

appears to be at the higher end of the market. Before the price is set, two things have to

happen:

Setting the pricing strategy happens after two separate reviews from third party vendors have

been completed--the inspection and the appraisal. Why? Properties are moving so fast in the

market. If one sits too long, then a new strategy has to be invented and revealed, which takes

more time and money. Invest the time in getting invaluable insight and information from an

inspection and an appraisal to create the most effective pricing strategy that supports selling the

property smoothly and quickly.