NWOK REAL ESTATE INFORMATION
NWOK REAL ESTATE INFORMATION
REAL ESTATE TERMS AND ACRONYMS
Agency: The legal relationship between a principal and an agent. In real estate transactions, usually the seller is the principal, and the broker is the agent: however, a buyer represented by a broker (i.e., buyer as principal is a growing trend. In an agency relationship, the principal delegates to the agent the right to act on his or her behalf in business transactions and to exercise some discretion while so acting. The agent has a fiduciary relationship with the principal and owes to that principal the duties of accounting, care, loyalty, and obedience.
Assessors Parcel Number (APN): A ten digit numerical sequence assigned to a property by the local government.
Arbitration: The term used to describe a form of dispute resolution that occurs outside of the court system, usually by private agreement between parties. Basically, arbitration is a dispute resolution system where the parties submit arguments and evidence to a neutral person, known as the arbitrator, who then renders a decision, called an award, based upon the evidence and arguments presented.
Brick and Mortar Office: This term refers to a traditional "street-side" business that deals with its customers face-to-face in an office or store the business owns or rents.
Broker: A person, who for compensation or in expectation of compensation, acts for another in a real estate or related transaction.
California Association of REALTORSÒ (CAR): whose purpose is to serve its membership in developing and promoting programs and services that will enhance the members' freedom and ability to conduct their individual businesses successfully with integrity and competency, and through collective action, to promote the preservation of real property rights.
Caravans: Common term used to describe an organized tour of properties available for sale. Also known as tours and open houses.
CMA: Comparative Market Analysis (CMA): A report that shows prices of properties that are comparable to a subject property and that were recently sold, are on currently on the market or were on the market, but not sold within the listing period.
Commission Variable Rate (CVR): A commission arrangement in which the seller agrees to pay a specified commission if the property is sold by the listing broker without assistance and a different commission if the sale results through the efforts of a cooperating broker or the efforts of a seller.
Compensation to Buyer’s Broker (CBB) or Commission: A fixed dollar amount or percentage of a sales transaction that is being offered to the listing broker who secures a buyer.
Contingency: A future event or condition upon which a valid contract is dependent.
Counteroffer: An offer in response to an original offer.
Deed of Trust: A type of security instrument where the borrower conveys the property’s title to a third party (trustee) to be held “in trust” as security for the note.
Bureau of Real Estate (BRE) : whose purpose is to protect the public in real estate transactions and provide related services to the real estate industry.
Dual Agency: A situation where one agent represents both sides with consent of all parties.
Exclusive Agency Listing: A contract giving the broker the right to market an owner‘s property for a certain period of time, but also allowing the owner to sell the property during that period without paying a commission.
Exclusive Right to Sell Listing: A contract giving an agent the exclusive right to market a property during a certain timeframe.
Federal Home Loan Mortgage Corporation (FHLMC): Also called "Freddie Mac," is a quasi-governmental agency that purchases conventional mortgages from insured depository institutions and HUD-approved mortgage bankers.
Federal National Mortgage Association (FNMA): Also known as "Fannie Mae." A tax-paying corporation created by Congress that purchases and sells conventional residential mortgages as well as those insured by FHA or guaranteed by VA. This institution, which provided funds for one in seven mortgages, makes mortgage money more available and more affordable.
Fee-for-Service: A method of conducting real estate business in which homebuyers and sellers are offered specific services (i.e. listing a home, escrow coordination, selling a home) on an individual basis for a specified price.
For Sale By Owner (FSBO): The owner sells his or her home without an agent to avoid paying a sales commission. Sandicor does not accept listings directly from owners and does not permit FSBOs to be placed in the MLS.
Foreclosure: A legal procedure by which mortgage property is sold, upon default, in order to satisfy a debt. Foreclosures generally are governed by state law and rules may vary between states.
Ginnie Mae: Government National Mortgage Association
Home MLS: The MLS to which a participant or subscriber belongs and has full rights as a participant or subscriber, respectively.
Housing and Urban Development (HUD): A government agency created in 1965 to ensure decent, safe, and sanitary home and suitable living environment for every American.
Internet Data Exchange (IDX): Internet data exchange also referred to as Broker Reciprocity.
Known To Broker (KTB): A common acronym used in the occupant name and occupant phone number fields of a listing.
Lis Penden (LIS): Notification of pending lawsuit. The initial document (judicial) filed by an attorney or trustee that starts the foreclosure process after the occurrence of default under the deed of trust or mortgage. Both LIS and NOD (Notice of Default) are part of the PRE-foreclosure process.
MLS Database: The compilation of current listings of an MLS maintained as an electronic database and made available to MLS participants and subscribers.
Mediation: A process used to resolve disputes. In mediation, the parties to the dispute are assisted by a neutral third person called a mediator. The mediator is not empowered to impose a settlement or decision on the parties; rather, the mediator facilitates discussions and negotiation between the parties with the goal of assisting the parties in reaching a mutually acceptable settlement of their dispute.
Mortgage: A conveyance of interest in real property, given as security for the payment of a debt. An agreement between two parties: borrower and lender.
National Association of REALTORSÒ (NAR): An association that strives to be the collective force influencing and shaping the real estate industry. It seeks to be the leading advocate of the right to own, use, and transfer real property; the acknowledged leader in developing standards for efficient, effective, and ethical real estate business practices; and valued by highly skilled real estate professionals and viewed by them as crucial to their success.
Notice of Default (NOD): The initial document (non-judicial) filed by a trustee that starts the foreclosure process, usually after the occurrence of a default under the deed of trust or mortgage. Both NOD and LIS (Lis Penden) are part of the PRE-foreclosure process.
Open Listing: A listing distinguished by the fact that the owner retains the right to revoke the listing at any time, to sell the property himself, or to list the property with another broker.
Out of Area Listing: A listing on a property located out of the jurisdiction of the participant’s or subscriber’s home MLS or regional MLS to which the participant or subscriber has access.
REALTOR®: A real estate broker or agent who, as a member of a local association of REALTORS®, a state association of REALTORS® and the NATIONAL ASSOCIATION OF REALTORS®), adheres to high standards of professionalism and a strict code of ethics.
Reciprocal Agreement: An agreement among various multiple listing services that allows participants and subscribers access to an MLS other than that which is their home-based.
Reciprocal Listing: A listing submitted to an MLS by a person who is not a participant or subscriber of that MLS, but it entitled to submit the listing pursuant to signing the California Master Reciprocal Agreement.
Variance: An authorization granted by Sandicor through its Service Centers that permits a participant or subscriber to perform a task in the MLS that is otherwise considered a violation of the rules and regulations.
Variable Range Listing (VRL): An acronym for a method of pricing when determining the listing price of a property. This type of pricing gives a prospective buyer a range from which the sellers will entertain offers.
Virtual Office Website (VOW): A common acronym for a real estate firm practicing brokerage on the Internet.
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BROWSE
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Updated: 02/25/2016
KOHLRUS REAL ESTATE
412 Flynn, Alva, Ok 73717
Phone: 580
-
327
-
4007
Information deemed accurate, but subject to errors, prior sale, price changes, or withdrawal without notice, contact affiliate for verification. All Sizes m/l according to the Woods County Assessor.
Aleta KohlrusManaging Broker(580)829-1056
Jerry KohlrusBroker Associate(580)829-3292
David KohlrusSales AssociateProperty Manager(580)829-3291Staci DaveySales Associate(580)430-1963
RachelStephenson-SpellmanSales Associate(580)748-1881
Neal WilliamsBroker Associate(580)748-0926Pam InmanSales Associate(580)732-0942Brooke MurphySales Associate(580)541-4231
Like our page at: www.facebook.com/pages/Kohlrus
-
Real
-
Estate
-
LLC
#17210
Commercial Lots,
220’
US 64Frontage,
195’
Lane StreetFrontage, 0.93 ac. m/l,
MANYOPPORTUNITIES!!
701 E. Oklahoma Blvd.
$450,000.00
#16410
-
160 Acres of native pas-ture m/l,
perimeter fenced withblacktop frontage (Ellis Road)
, 2seasonal creeks, attractive to wild-life, Avard project 1 mile west,access to rural water.
Surface On-ly
.
Sec. 33 T26 R15W NE
$720,000.00
#17430
3 Bdr, 1,461 sqft. m/l,1.5 Stories, CH/A,
Close to Campus!
Basement,Fenced Yard, Attached Carport806 College
$42,000.00
16590
-
2 Bldgs. Former "KnottyPine" 2032 sqft
m/l
, 2 bathroom,Liquor Store 1240 sqft
m/l
,1 bathroom, Large parking Lot.
Excellent Business Location!MANY OPPORTUNITIES!!
401 & 403 E. Flynn
$93,000.00
Closed Business!
PRICE REDUCED!!
#17470
2 Bdr, 858 sqft. m/l, Appliances,Shingles Replaced 2012, StormShelter, Garage,
Less than 1 blockfrom 24hr ATV trails!
1326 Cecil St., Waynoka
$54, 000.00
PRICE REDUCED!!
#17630
3 Bedroom, 1,285 sqft. m/l, 1.5 Story, CH/A, Built1915, Cellar,
Large Lot
421 W. Main, Cherokee.
$50,000.00
#17680
2 Br, 2 Ba, 1,315 sqft.
m/l
,CH/A, Cellar, Attached Garage,Additional Garage and Carport,
50’
X
150’
m/l1114 Choctaw
$55,000.00
PRICE REDUCED!!
#17750
3.9 Ac. m/l
East of Alva, CR 470.
$24,000.00
PRICE REDUCED!!
#17820
50’
X
150’
lot m/l.,1698 3rd, Waynoka
$5,000.00
#17840
1 ac. m/l, Heavily Wood-ed,
Could be Cleared forConstruction.
Waynoka
$10,000.00
#17900
100’
x
142’
lot m/l. Near
rodeo grounds, build ormove
-
in a home!
1358 Cimarron Pass,Freedom
$5,500.00
PRICE REDUCED!!
#17830
50 X 150 X 1.42
m/l
. lots.Build Your New HomeHere!
Motivated Seller!
1664 3rd, Waynoka.
$5,000.00
#17760
2.6 ac. m/l located in prime location for
build-ing your dream home.
Highlandview
$38,000.00
PRICE REDUCED!!
#18200
3br, 1.5 Stories, 1,738.5 sqft.m/l, CH/A, Fireplace,Large
100’
x
150’
lot
Workshop Space
812 Center
$99,000.00
PRICE REDUCED!!
#18680
3 Bedroom, 1060 Sqft. m/l,
CH/A, 1 Car Attached Garage,Open Porch
Total Electric
, Save on Gas Bills!!
508 Mimosa
$92,000
#18650
3 Bedroom, 3 Bath, 2581 Sqft. m/l,
CH/A, Fireplace, 2 Car Garage,
New Windows
, New Ext. Paint,Storage Shed, Water SoftenerReplaced Water Heater
714 11th St.
$229,000
#18600
2 Bedrooms, 963.75 Sqft. M/L,CH/A 2013, Replaced Carpet,Garage,
Converted Attic
,Stove & Fridge Included,Small Storage Shed.
1217 Church
$65,000.00
PRICE REDUCED!!
#18810
1046 Sqft. m/l, 2 Bed
Privacy Fence,Storm Cellar
Carport, Garage
Former Beauty Shop
1588 High St, Waynoka
$45,000
#18530
Multi
-
Living Potential!
4 Bdrm, 2 Bath, 2,540 Sqft m/l,Wood Floors, Cellar,Brick/Wood Exterior,221 3rd
$55,000.00
PRICE REDUCED!!
#18720
Operational Restaurantw/Revolving Inventory
Long
-
time Business
In Waynoka Community
Recent Roof /Gutter Replacement
589 Main St, Waynoka
$225,000
#18430
Former Convenience Store Bldg!
(Business is Closed)
GREAT LOCATION!!
1015 Main St.
Freedom
$174,900.00
PRICE REDUCED!!
#18210
2 Commercial Lots,GREAT Location,
HWY 64 Frontage!
140 E. OK Blvd.
$200,000.00
PRICE REDUCED!!
#18640
2 Bedroom, 1350 Sqft. m/l,
CH/A, Storm Shelter,
Fenced
-
In Backyard,
2 Storage Sheds,
50’
x150
’
x1.2 Lot Size
Handicap Accessible!
1003 Choctaw
$71,000.00
#18610
2 Bedrooms, 1,157 Sqft. M/L,CH/A, 2 Layers of Roof 2012,
Large 2 Car Detached Garage,
Brick/Veneer Ext.521 Logan
$75,000.00
#18670
4 Bedroom, 3 Bath, 2000 Sqft. m/l,
House completely gutted & com- pletely redone,
A MUST SEE!
2 Car Detached Garage,
Large Lots
722 2nd St.
$278,000
#18370
BBQ Business and Building, 3500sqft. m/l, 2 Bath,Steel Roof, 2012 Add On,Great Location
US HWY 64 Frontage!
818 OK Blvd.
$240,000.00
#18420
2 Bdr, Appliances, Garage,Metal Shed, Carport,
3 lots,
Rewired/Re
-
plumbed
Seller will finance withdown payment!
319 Chestnut, Jet
$75,900.00
#18750
3 bd, 3 ba, 2,113 Sqft. m/l,
3Living Areas!
Split
-
level,Basement, CH/A,
Many Up-dates!!
1015 Flynn
$150,000
PRICE REDUCED!!
#18760
3 bd/2.5 ba, 2500 sqft m/l
CH/A,
Remodeled in 2007
,
Basement, Covered Patio
1311 Eagle Pass, Freedom
$82,500
PRICE REDUCED!!
#18890
Former Fisher Hotel
Historic PropertyBuilt in 1903!
8956 Sqft m/l, Originally 49 rooms,some have been converted into smallapartments.207 College
$20,000
#18480
2 Bdr, 2 Ba, 1482 sqft. m/l, CH/A, Attached Garage w/Workshop & Built
-
in Shelving,Lg. Backyard w/Fence, Fireplace
Priced to sell!
970 Baker Place
$110,000.00
PRICE REDUCED!!
#18930
Turn of the century brick home featuring over1,000 pieces of beveled glass forming theentry.
5,561 Sqft m/l plus 1,161 Sqft base-ment, 8 bedrooms, 4 baths
, gourmet kitch-en, elaborate woodwork, hardwood floors, pressed tin ceilings, open oak staircases, flutedcolumns, chandeliers and more!
801 Flynn
$520,000
#18990
On
1.05 acres
, 1265 Sqft m/l,3 Bed, 2 Bath,
Attached
30’
x24
’
m/lgarage,
CH/A, Water well, utility building, storage shed,Appalachian stove, carport,recent bathroom remodel
10791 CR 350, Waynoka
$89,500
New!
#18620
Main house & Rental 1,614 Sqft. ea.
3 & 2 Bedrooms, Attached Garage,Carport, & Basement in Main House
~Elevator~
Great Investment Opportunity!
324 Broadway, Aline
$45,000.00
PRICE REDUCED!!
#17990
NEW BUILT!
3br 2 Bath, 1600 sqft.m/l, CH/A, Fireplace,covered patio, 2 Car AttachedGarageLarge Master Bath andWalk
-
in closet!
716 Seiling
$194,900.00
#18010
NEW BUILT!
3br 2 Bath, 1600 sqft.m/l, CH/A, Fireplace,covered patio, 2 Car AttachedGarage, Large Master Bath andWalk
-
in closet!
724 Seiling
$194,900.00
#19140
CUTE! 1436 Sqft m/l, 3 Bed,2 Bath, 2.38 Acres m/l, CH/A, Attached Garage, Roof 2yrs, Exterior Paint 1 yr
10683 Hwy 58, Jet, OK$140,000
#18950
2466 Sqft m/l, 5 bed, 2.5 bath,CH/A,
Fenced Yard
, ElectricUpdates
Storage Shed,
Cellar
802 Locust
$130,000
#18850
2 HOUSES FORTHE PRICE OF 1!!
Former Hotel, 9 Bed 2 Bath,3070 Sqft. m/l, Beautiful Woodwork,Pine FloorsPartial Basement,
Includes smaller 2 bed Home w/Garage300 E Main / 110 S Penn, Cherokee
$33,000
PRICE REDUCED!!
#18700
1528 Sqft. m/l
Completely Gutted.
Perfect for the experienced
Fixer upper!
903 4th St.
$50,000
#19050
9.47 Acres m/l, approximately 47lots platted for residential devel-opment.
Public water available.Call for more information!
SE/4 S26 T27N R14W
$211,000
New!
#19030
Empty lot in residential Neighborhood. Previous home torn down, but utilities still available for use.
Build the home you
’
ve always wanted!
1009 Maple
$13,000
New!
Randon MillerSales Associate(580)541-5890
#18970
1603 Sqft m/l, 3 Bed, 1.5 Bath, CH/A,
large attic
, Storage Shed,2 water wells, 3 car garage, partial basement, enclosed porch,
updatedplumbing/wiring
1164 Church, Waynoka
$55,000
PRICE REDUCED!!
#18830
1944 Sqft. m/l, 4
-
5 bd, 2 ba home, CH/A,Storm Cellar, appliances
16.69 ac m/l, 2 Quonsets, Apartment/Office Building,60
’
x40
’
m/l Shed,
200’
x40
’
m/l Lean
-
To
Don
’
t miss out on this gem!!
58325 Kay Rd, Cherokee
$350,000
Huge Price Reduction!!
#17740
2 Br, 2 Ba, 924 sqft. m/l,
66’
X
14’
Mobile Home,Appliances,
Priced to Sell!
415 Comanche, Dacoma
$20,000.00
PRICE REDUCED!!
#19070
OWNER/AGENT—
1,180
Sqftm/l, 3 Bed 2 Bath,
50’
x
140’
m/l lot,CH/A, complete interior remodel2012, new carpet and laminatefloors, roof reshingled 2012, vinylsiding.
606 E Barnes
$90,000
#18800
1741 Sqft. m/l,2 bedroom, CH/A
Close to LittleSahara State Park!
1869 Cecil, Waynoka
$77,000
#18820
1217 Sqft. m/l
2 bed, 2 bath
CH/A, Attached Garage
Storage Shed w/ Concrete Floor
Large Lot,
Alley Access
1064 Frontier Dr., Freedom
$54,500
#18840
Would Make a GreatStarter Home or Rental!
2 Bedroom, 728 Sqft. m/l,
Close to Little Sahara StatePark!
2157 Santa Fe, Waynoka
$38,000
#18860
1308 Sqft m/l, 2 Bedroom
CH/A, Hardwired Generator
2 Car Garage, Fenced Yard
Water Well For Lawn/Garden
3 Storage Sheds,Storm Shelter
Close to Little Sahara State Park!!
1043 Main St, Waynoka
$38,000
#18880
0.88 Acres, 38,500 Sqft m/l
25’
x
140’
x 11 lots, zoned forlight industrial use. Call fordetails!
819 Lane
$140,000
#18940
1587 Sqft m/l3 bed, 2 bath,CH/A,
2 Car Garage
10’
x
12’
m/l Attic
1618 Oklahoma, Cherokee
$120,000
#18960
2 Homes and oversized 2 car garageincluded in sale!
509 8th is a 1072Sqft m/l, 3 bed 2 bath home with CH/A and a 784 Sqft m/l finished walkout basement.
511 8th is a 629 Sqft m/l 1bedroom income
-
producing home.
509 & 511 8th
$110,000
#18920
1357 Sqft m/l, 3 bed, 1.5 bath,CH/A, Fireplace,
Enclosed Porch
,
Electric & Plumbing Updates
,Attached Garage, Crown Molding,Wood
-
Look Laminate Floors
515 Myers Dr.
$142,000
#19000
1375 Sqft m/l, 3 Bed, CH/A,2 Car Garage, Storm Cellar
Shingles Replaced 2012
,
Many other Updates!!
203 Barnes
$95,000
New!
#19020
1823 Sqft m/l, 3 Bed, 2 Bath,CH/A, Storage Shed, Carport,Cellar, Fireplace,
Fully RemodeledKitchen
, Updated Bathrooms,Deck in Back, Updated Roof, Carpet/Tile/Vinyl Flooring
1051 8th
$225,000
New!
#19040
1.62 Acre m/l vacant commerciallot on Highway 64.
Primelocation for business!
Call for more information!
127 E. Oklahoma Blvd.
$175,000
#19060
NEW BUILT! 1571 Sqft, 3 bed 2 bath,2 Car Garage, attic, Double Pane/Storm Windows, fireplace, jetted tub, patio, sprinkler system, his/hers clos-ets, walk
-
in pantry, granite counter-tops, Corner Lot!
732 7th$220,000
#19080
1505 Sqft m/l, 3 Bed, attachedcarport, storage shed, kitchenremodeled 2013, carpet recentlyreplaced, painted exterior, andMANY MORE UPDATES!
1215 Barnes
$120,000
#19150
BUSINESS OR BUIDING ORBOTH!
Call today for moreInformation!
140 E. Oklahoma$295,000
PRICE REDUCED!!PRICE REDUCED!!
#19180
1016 sqft m/l, 2 Bed, 1.5Bath, hardwood floors, newwindows, some appliances,nice yard!911 11th Street$82,000
#19160
1255 Sqft m/l, 3 Bed, 2Bath, 1 Car AttachedGarage, CH/A, storageshed, many updates!213 Aspen
$117,000
New!
New!
Sale Pending!
#19190
1140 sqft m/l, 2 Bed, 1Bath, CH/A, custom clawfoot tub, corner lot, pecantrees, out buildings!
629 Santa Fe
$85,000
New!
#19200
0.8 ac m/l Shop/Office,commercially zoned, locat-ed one block off of Hwy281, large lot!
630 E. Maple$179,000
New!
New!
#19210
Handy Man
’
s Special!
1260 sqft m/l, 3 Bed, 2Bath, Metal Roof, Cellar,Corner Lot!
602 E. Barnes$40,000
New!
#19220
1681 sqft m/l, 2 Bed, 2Bath, CH/A, 1 ac m/l, twocar attached garage, locat-ed in Ringwood, OK624 E. County Road$98,000
New!
#19230
17.72 Acres m/l
Waynoka, OK14087 Hwy 14$60,000
New!
www.kohlrus.com
#19250
1224 sqft m/l, 2
-
3 Bed, 1Bath, CH/A, Built 1946,vinyl siding, metal roof.located in Carmen, OK613 W. Main$35,000
New!
#19260
1211 sqft m/l, 3 Bed, 2Bath, Built 1956, floorheat, window ac, carport,great starter home!
614 E. Barnes$72,000
New!
As mentioned above, lower-priced listings with the word “luxurious” sold for 8.2 percent more on average than expected. “Luxurious” signals that a home’s finishes and amenities are high-end. This is a huge selling point, particularly in this price range.
Top-tier listings described as “captivating” sold for 6.5 percent more on average than expected. Unlike the word “nice,” “captivating” provides a richer, more enticing description for buyers. Plus, it’s less open to interpretation. Anything can be seen as “nice,” but “captivating” sets a high bar.
On average, listings in the bottom tier with the word “impeccable” sold for 5.9 percent more than expected. Like “captivating,” “impeccable” is a rich adjective. It also implies something about the quality of a home: The features are desirable and the home is move-in ready.
“Stainless” is typically used to describe kitchens with “stainless steel appliances.” It’s in your favor to talk up these features in your listing — especially if your home is in the bottom price tier. In our analysis, lower-priced homes with the word “stainless” sold for 5 percent more on average than expected.
On average, lower-priced homes with the word “basketball” sold for 4.5 percent more than expected. This may seem like an odd word to include in this list, but when you consider the context it makes sense. Among lower-priced homes, a basketball court — or even better, an indoor basketball court — is a huge selling point. While it may not stand out as much among higher-priced homes, it’s definitely worth mentioning in this price range.
It’s just as valuable to describe your yard as your house. In all price tiers, listings with the word “landscaped” sold for more than expected on average. The biggest premium was seen among lower-priced listings, which on average sold for 4.2 percent more than expected.
In the same vein as “stainless,” “granite” is typically used to describe countertops or another high-end home feature. Listings with the word “granite” sold, on average, for 1 to 4 percent more than expected across all price tiers.
Not only should you include high-end home features in your listing description, you should also mention features not found in every home. They’ll help your listing stand out, especially if buyers are searching for homes online by keyword. The data shows mid-priced listings with the word “pergola” sold for 4 percent more on average than expected.
Was your home recently remodeled? It may be worth mentioning. On average, bottom-tier listings with the word “remodel” sold for 2.9 percent more, middle-tier homes for 1.8 percent more and top-tier homes for 1.7 percent more than expected.
While beauty is in the eye of the beholder, a beautiful feature like a view may be worth noting. Lower-priced listings with the word “beautiful” sold for 2.3 percent more on average than expected.
“Gentle” may seem like a weird adjective to have in a listing description. It’s typically used to describe “gentle rolling hills” or something about a home’s location. Top-tier listings with the word “gentle” sold for 2.3 percent more, on average, than expected.
You may think all homes are spotless when a buyer moves in, so it’s not worth mentioning in a listing. But when it comes to lower-priced homes, cleanliness isn’t always a given. In this price range, listings described as “spotless” sold for 2 percent more on average than expected.
Much like “stainless” and “granite,” “tile” is a great word when it comes to describing the features of your home. A newly tiled backsplash or updated bathroom tile not only indicates a home’s aesthetic value but also sends a message to buyers that the home’s been well cared for by the current owners. Bottom-tier homes with the word “tile” in the listing sold for 2 percent more on average than expected.
On average, lower-priced listings with the word “upgraded” sold for 1.8 percent more than expected. Most buyers will agree that upgrades are a selling point. They indicate a home not only looks nice but also functions well. Spelling out which features have been updated is a good approach, so buyers have the right expectations when they see your home.
“Updated” sends a similar message to “upgraded.” But in addition to speaking to the quality of a home, it signals that something old has been replaced with something new. This is a great fact to communicate to potential buyers, as evidenced by the data. Mid-priced homes with “updated” in the listing sold for 0.8 percent more on average than expected.