I’m Mike, and this is Shana Acquisto here. Real estate brokers and co-owners with Acquisto Real Estate. And the topic is don’t sell the trophy house with the ranch.
Oh, yeah, I heard it from a spark that would be the highlight of the whole ranch.
Trophy House
Well, when it’s a trophy house, so to speak, and we put quotes around that, sometimes you don’t get the full value for exactly what you’re trying to do. Right. And when you’re selling that and it often has more value to the person who created it or the founder that put that in place rather than the person who is now receiving it in the buyer, they are most likely interested in the larger prize in this situation of the land. And the reason we’re bringing that up is not that every day you sell a trophy house or you sell a ranch, but rather that same concept is what we’re looking to kind of discount.
We know that in residential real estate that the person who built the home and as you know, and put all of their their own personal touches in it is, you know, it’s the same thing. So it doesn’t necessarily have to be, like you said, a trophy house. But people are very, very sentimental and they they really love their home. So try to think of other things that go with the home that you could focus on that might be more of value to you and what this might come down to a similar understanding for you.
So I gave you one analogy and I’m going to go over here and give you the second half of that one. And that might be maybe there’s a family heirloom chandelier, OK? And what you would want to do is go ahead and replace that first and take this chandelier out and then put it aside so that you can move it to the next property.
And that would be an example of a fixture is attached to a property that you would want to bring with you and you want to remove from that current home in the same way that you’re not selling the trophy house with the ranch, you’re not selling the family chandelier with a home, OK? Other examples would be maybe some other personal property type things. So if you happen to have something very expensive, you know, like if you owned a huge boat, you might sell the boat with the house. Sure. If that’s the case.
But it kind of is appealing.
So you remove that boat, you would want to have the boat there to show the lifestyle you know very well, very well could be the case and an appraisal and say, hey, this is something that could be included with if and that was one of those things. There might be other collections that an individual might have at the home.
So have you ever walked into somebody’s home and you’re like, wow, that’s a serious collection, whether it happens to be like animal heads or trophies in that way, whether it happens to be a knife collection or a gun collection or any one of those things, those are different. They probably have a lot of sentimental value or a lot of value to the person who initially put this collection together.
Yeah, for sure. Yeah. So those are different examples of those types of items. OK, so just kind of take that in mind and understand the different values that each person associates with and how you can extract the most. Remember in this case that you are representing the seller in your job is to get them the highest and best value that you possibly can in the best possible terms that they’re looking to handle.
And sometimes separating the two is better than doing it all together. Yes, if anyone has any different examples of this that they would like to chat in, now would be a great time so that we could review those as well.
I’m all about kind of displaying the lifestyle of the property and appealing to people in that way, because, remember, they don’t know any history or, you know, any specifics of this home. And a lot of our homes may have similar square footage and look the same. So you’ve got to take something and make it stand out.
So so if you did have that, then you could maybe show that off. So an example of that would be if you wanted to have the amazing chandelier in this situation that you wanted to display it, then how would you go about excluding that? And what would you do there?
Well, you put it in your contract that you exclude. We have a list of exclusions. That’s that you know, that we have our sellers fill out that lets every buyer know that these fixtures are going to be removed and they don’t convey with the home.
So there is always that one thing that people forget and they want to come back after contracts are negotiated and and say, oops, I forgot about that. I need to remove that. At that point in time, it’s too late. So it is definitely something to think about. A lot of times you need to plan for what are you going to replace it with? You know, I’ve had people do that, but if they removed a chandelier and they just left it like it was an.
Didn’t replace it with a light that wouldn’t be appropriate. So definitely want to think about that.
So listing agents, that one’s on, you just kind of think through. We didn’t go through every specific example right here that we possibly could, but we’re trying to give you thoughts and ideas on how to best attack this. Yes. OK, so thank you guys for all those creative ideas that you have given us and the different topics that you’ve been chatting in to us. And we’re going the same thing that was kind of looking through. Yeah, for sure.
