Extreme summer weather can significantly impact the real estate market, posing unique challenges for vacant property listings. High temperatures and humidity not only affect the physical condition of homes but can also deter potential buyers if not properly managed. Protecting these vacant listings is crucial to maintain their appeal and ensure a smooth selling process.
This article focuses on the various risks vacant homes face during the hot summer months and provides actionable strategies to mitigate these issues. Implementing these tips, real estate agents can safeguard their listings, attract more buyers, and ultimately achieve better sales outcomes.
Risks to Vacant Homes in Summer
Mold Growth
Humidity trapped inside a closed-up house during summer can create a conducive environment for mold growth. Excess moisture in the air can settle on surfaces and promote mold spores to flourish, leading to potential health risks and property damage. The Environmental Protection Agency (EPA) recommends maintaining indoor humidity levels between 30% and 60% to mitigate mold growth.
Warping
High temperatures and humidity levels can cause significant damage to wooden structures within vacant homes. Wooden beams, doors, and floorboards are particularly susceptible to warping, which can compromise the structural integrity and aesthetic appeal of the property.
Peeling
Excessive heat and humidity can cause finishes like wallpaper and laminate to peel off walls and surfaces. This not only diminishes the visual appeal of the home but also indicates potential maintenance issues that could deter prospective buyers.
Pests
Summer brings a surge in pest activity, including insects and rodents seeking shelter and food sources in vacant properties. Homes with pools can attract additional pests, such as animals using the water for cooling off, potentially causing damage to pool covers and surrounding areas.
Leaks
Summer storms can lead to roof leaks and exacerbate existing issues with plumbing, increasing the risk of water damage inside vacant homes. Undetected leaks can lead to mold growth, structural damage, and higher repair costs.
Vandalism
Vacant homes are vulnerable to vandalism, especially if their empty status becomes known. Damage from vandalism not only impacts the property’s condition but also affects its marketability and potential sale price.
Uncomfortable Showings
High indoor temperatures and humidity levels can create uncomfortable conditions for potential buyers during showings. A stuffy or hot environment, along with unpleasant odors from a closed-up house, can significantly detract from the overall impression of the property and prolong its time on the market.
Understanding these risks is crucial for real estate agents working with vacant listings during the summer months. Proactively addressing these challenges, agents can better protect their clients’ properties, maintain their appeal, and facilitate successful real estate transactions.
Checklist for Site Visits
Temperature Check
It’s crucial to maintain the indoor temperature of vacant properties below 85 degrees Fahrenheit during the summer months. Excessive heat can accelerate deterioration and discomfort for potential buyers during showings.
Visual Inspection
Perform a thorough visual inspection during each site visit to identify any signs of issues such as mold growth, water damage, peeling finishes, or warping of wooden structures. Addressing these issues promptly can prevent them from escalating and affecting the property’s marketability.
Pest Inspection
Look for signs of pest activity, especially during summer when insects and rodents are more active. Check both the interior and exterior of the property for indications of infestations or damage caused by pests.
Mail and Packages
Collect any mail or packages delivered to the property to avoid the appearance of vacancy. This proactive measure helps maintain the property’s appearance and security.
Preparing for Showings
Before scheduled showings, take steps to enhance the property’s presentation. Adjust the air conditioning to ensure a comfortable indoor environment, open windows for fresh air circulation, and address any closed-up smells that could deter potential buyers.
Seller Notification
After each site visit, communicate promptly with the property’s sellers. Provide updates on the condition of the property, even if no issues are found. This demonstrates your proactive approach and commitment to ensuring the property remains in optimal condition throughout the selling process.
Following this comprehensive checklist during site visits helps real estate agents effectively manage and maintain vacant properties during the summer.
Addressing potential issues promptly and maintaining regular communication with sellers, agents can enhance the property’s appeal, attract more buyers, and facilitate successful real estate transactions.
Actionable Ways to Protect Vacant Listings
Thermostat Settings
Maintaining a controlled indoor environment is essential for preserving the condition of vacant listings during summer. Insist that sellers set the thermostat to ensure the indoor temperature does not exceed 85 degrees Fahrenheit. This helps prevent potential damage from excessive heat and maintains a comfortable atmosphere for showings.
Regular Visits
Frequent visits to vacant properties are crucial for monitoring their condition and addressing any emerging issues promptly. Aim to visit each listing at least once per week, even if there are no scheduled showings. Regular inspections allow you to detect problems early, maintain property upkeep, and reassure sellers of your proactive management.
PropTech Utilization
Encourage sellers to leverage PropTech solutions, such as smart temperature control systems. These technologies enable remote monitoring and adjustment of indoor temperatures, ensuring optimal conditions for showings without the need for physical presence. PropTech enhances efficiency and convenience while safeguarding the property’s integrity.
Water Bill Monitoring
Advise sellers to monitor their water bills closely as a proactive measure against potential leaks or water-related issues in vacant homes. Unexplained increases in water usage can signal underlying problems like leaks, which, if left unchecked, could lead to significant damage and costly repairs.
Post-Storm Checks
After summer storms, promptly inspect vacant properties for any damage or debris. Check the roof, windows, and surrounding grounds for signs of water intrusion, structural damage, or fallen branches. Addressing storm-related issues swiftly prevents further damage and maintains the property’s appeal to prospective buyers.
Smart Security Systems
Consider recommending smart security systems to sellers for remote monitoring of vacant properties. These systems provide real-time alerts and video surveillance, deterring potential vandalism or unauthorized access. Enhanced security measures not only protect the property but also provide peace of mind to sellers, particularly if they have relocated.
Pre-Showing Preparation
Arrive early for scheduled showings to prepare the property for prospective buyers. Ensure the indoor environment is comfortable by adjusting the air conditioning, opening windows for ventilation, and eliminating any stale odors from prolonged vacancy.
Creating a welcoming atmosphere enhances buyer interest and facilitates positive impressions during property viewings.
Implementing these actionable strategies helps real estate agents effectively protect and maintain vacant listings during the summer months. Prioritizing proactive measures and utilizing technology where applicable, agents can optimize property conditions, expedite sales processes, and maximize seller satisfaction.
Help Protect Investors from Themselves
While many real estate investors are confident in their decisions, they still rely on their agents for critical guidance to avoid common pitfalls.
One of your key roles is to help investors steer clear of typical mistakes such as overpaying for properties, underestimating repair costs, and over-inflating the after-repair value (ARV). Providing accurate, data-driven advice can ensure your clients make informed choices that align with their investment goals.
Early identification of red flags is crucial in protecting your investors. Be vigilant and proactive in pointing out potential issues with properties, such as structural problems, legal complications, or unfavorable market conditions.
Bringing these concerns to light early in the process can save investors from costly mistakes and reinforce your value as a trusted advisor.
Enhancing your value also involves brushing up on your renovation knowledge and understanding what appraisers look for in a property. Knowing which renovations add the most value and how to budget for them accurately can guide your clients toward decisions that maximize their return on investment (ROI).
This expertise not only helps in making sound purchase decisions but also in planning effective property improvements that appeal to future buyers or renters.
Start Your Real Estate Career Today with GetMeRenewed.com
As a real estate professional, safeguarding vacant listings during the summer months is not just about preserving physical assets but also ensuring successful transactions. The impact of extreme heat and humidity can undermine a property’s appeal and prolong its time on the market if not managed proactively.
Adhering to a comprehensive checklist for site visits and implementing actionable strategies like monitoring thermostat settings, utilizing PropTech, and conducting regular inspections, agents can mitigate risks and maintain the attractiveness of vacant homes.
Proactive management not only enhances property conditions but also expedites sales processes and potentially increases sale prices. Continuous learning and self-improvement are key to thriving in the competitive real estate industry.
Whether you’re just starting your career or seeking to advance, ongoing education through platforms like GetMeRenewed.com equips you with essential knowledge and skills. Explore our state-approved online courses, including the mandated 90 hours of pre-licensing education, designed to prepare you for success in Washington’s real estate market.
