How Much Does The Outside Look Matter When Selling A Home? – Lauren Tillery
On this episode of The Closing Table, we sat down with Lauren Tillery!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Lauren Tillery…
The conversation began with a fill-in-the-blank icebreaker on how to add value to your home, what people think real estate agents do, and more. Lauren introduces herself as a wife and a mother of three girls, filled with responsibilities that often leave her with limited free time. However, whenever she manages to find a moment to spare, she indulges in her passion for volunteering at her daughters’ school, nurturing her garden, and exploring the world of antique shopping.
Geographically, Lauren primarily serves the southeast Michigan area, specifically the downriver region where she has resided her entire life. Economically, the average pricing of homes in this area stands at $230,000, a significant increase compared to previous years. The average square footage is approximately $163, and homes tend to spend an average of two weeks on the market. However, when homes are priced correctly, they tend to sell at a much faster rate. On average, each property receives around 10-15 offers, reflecting the competitive nature of the market. Despite her focus on the downriver area, Lauren is willing to travel wherever her clients require her assistance.
When presenting a preliminary Comparative Market Analysis (CMA) to a seller, it is important to carefully select and analyze comparable properties, including sold properties, current listings, and expired listings. Lauren follows a systematic approach to explain this information to sellers. First, she begins by determining a suitable radius around the property, typically half a mile to a mile in urban areas, and potentially 2 or 3 miles in rural areas where homes are more spaced out. Within this radius, she looks for houses that share similarities in terms of house type, size, and number of bedrooms. To assess the condition of the properties, Lauren examines pictures and determines if they are well-maintained, allowing her to make accurate comparisons.
Next, Lauren delves into the sales prices of comparable properties, paying particular attention to cash sales. Cash transactions sometimes result in slightly lower sale prices compared to mortgage-financed homes, as cash offers often do not require appraisals. However, she notes that the prevalence of appraisal guarantees and lenders closing loans quickly has reduced the significance of this factor. Lauren also considers other variables, such as financing types, concessions, and days on the market. Drawing on her 14 years of experience, she combines all these factors and relies on her judgment to determine an appropriate price for the seller’s property.
Moving on to the importance of curb appeal, Lauren emphasizes that the exterior of a home serves as the initial impression potential buyers have of the property. While she doesn’t have a unique formula for achieving this, she acknowledges the significance of making a positive first impression. Lauren shares that there have been instances where the interior of a property impressed her clients more than the exterior, highlighting the need for a balanced approach.
When listing a home, Lauren personally visits the property and offers suggestions for improving both the exterior and interior. She emphasizes the importance of cleanliness and creating a space that potential buyers can envision themselves living in. While there may not be a one-size-fits-all solution for every property, Lauren’s experience and attention to detail enable her to provide tailored recommendations to enhance a property’s saleability.
As a Realtor with a background in commercial real estate accounting and property management, Lauren leverages her expertise to provide valuable insights to her clients in a variety of ways. She emphasizes that her experience spans every facet of the real estate industry. Rather than seeing herself solely as a salesperson, she considers herself a facilitator who is dedicated to helping her clients as if their house were her own. This personal approach, combined with her deep passion for her job, allows her to take a vested interest in her clients’ needs and guide them through potentially challenging real estate transactions.
Given her comprehensive background, Lauren possesses a toolbox of solutions to draw from when unexpected issues arise. She is not left unsure or unprepared; instead, she can tap into her wealth of knowledge and experience to find effective resolutions. Additionally, her extensive network enables her to connect clients with the right people and resources to address various real estate needs.
Lauren’s expertise in commercial real estate accounting is particularly valuable in providing financial insights to her clients. Having started her career as an accountant, she possesses a love for the financial side of the industry. Whether clients require assistance with budgets or spreadsheets, she is equipped to guide them through these financial aspects of real estate transactions. When it comes to selling an investment or rental property that is tenant-occupied, Lauren understands the challenges involved in maintaining positive relationships with tenants while ensuring a smooth selling process.
To effectively inform tenants of the listing, Lauren adopts a respectful approach. She liaises with the landlord, seeking their permission to disclose the intention to sell the property to the tenants. This allows the landlord to have the initial conversation with the tenants, emphasizing that the decision to sell is their own. Once the tenants are aware of the situation, Lauren takes on the responsibility of handling showing requests and coordinating with the tenants while being considerate of their schedules. She acknowledges their desire to remain in the property and communicates this to potential buyers as a factor to be considered. By aligning the interests of all parties involved, she strives to find a buyer who is willing to accommodate the tenants’ needs.
Lauren’s recent experience with a duplex, where the tenants had opposing work schedules, exemplifies her ability to navigate such situations successfully. By working closely with the landlord, communicating with the tenants, and finding a buyer who met everyone’s requirements, she ensured a positive outcome for all parties involved.
In most cases, the purchase of a home is contingent on the results of a home inspection. Lauren explains her approach to reviewing the home inspector’s report and taking steps to ensure that the findings are thoroughly understood and properly addressed. She emphasizes her commitment to attending all inspections, and she encourages her buyers to join her in order to actively participate in the process. By being present during the inspection, they can examine any issues that arise and ask any questions they may have. With her extensive experience in the industry, Lauren has developed a keen sense of what constitutes typical issues and has a good understanding of the potential costs involved. However, in cases where she may not have all the answers, she has a network of professionals she can rely on to provide assistance and guidance.
Reflecting on her journey, Lauren shares the valuable lessons she has learned about herself, the real estate industry, and the importance of serving others. She discovered her passion for real estate at a young age, realizing that it offered constant variety and unique challenges in every deal. What she loves most is the opportunity to help people and be a part of their stories. For Lauren, it’s not just about selling homes; it’s about understanding the personal narratives that come with each transaction. She aspires to be the type of agent whom clients are grateful for, someone who goes above and beyond, is reliable, and truly makes a difference in their lives.
Looking to the future, Lauren envisions opening her own brokerage at some point. This would allow her to help other like-minded individuals who share her motivations and goals. However, she is currently focused on being a mother, which she considers her first and favorite job. Lauren values her time with her children and intends to dedicate herself fully to them until they grow older. When the day comes and they begin to move out, she plans to dedicate more time to her professional ambitions. Lauren is committed to doing things wholeheartedly and finds that anything less than 100% effort would not allow her to sleep well at night.
The conversation wraps up with Kevin asking Lauren what kind of project she would want to work on if she was given unlimited time and resources. Lauren expresses a desire to create a great community space and a farmers market in Michigan. She recognizes the limited time available during the summer months to enjoy such activities, and she believes that providing a vibrant and welcoming place for the community to gather would greatly enhance their quality of life.
Check out Lauren Tillery:
Facebook: https://www.facebook.com/profile.php?id=30315349
Facebook Business Page: https://www.facebook.com/laurentillerysells
Instagram: https://www.instagram.com/laurentilleyhomes/
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