For real estate broker Paula Wells, every client and every listing is special. But occasionally it’s more than that — especially when you’re the one who sold it to them years ago and you’ve been family friends for at least six decades. In this instance the seller was actually the first buyer, and she started managing the property for him when he got transferred out of the area.
When Gary was ready to put it on the market, he naturally turned to Paula. “I’m working on it like it’s my house,” she said. “What I like most is the wood floors, the vaulted ceilings and all-new windows on the second floor. There’s a pool as well. It’s a comforting space, very warm and welcoming. And of course, the College Park location is a big draw.”
When she lists a client’s home and plans an open house, she focuses on what’s important to prospective buyers. “In addition to price, a lot of times it’s going to be location and proximity to their work. Does it have space for them to work from home?” Usually, the next big priority is the schools. “A pool can also be a draw. Everybody wants a pool when they’re from out of state. Also, lots of people will ask not to be in homeowners associations.”
For the seller, her advice is to keep it simple. “I’ve known people who’ve put in a brand-new kitchen and the buyer came in and ripped it all out. Unless something isn’t working or they’ve already started on a project, I tell my clients to just clean and declutter. Spruce things up to make it look loved and cared for.”
She notes that when they’re planning to put their home on the market, most sellers today want to sell as-is. “They don’t want to have to give more money back or do repairs. They just want a clean transaction. Years ago, we used to put a whole list of to-dos together, but we’ve cleaned up the contracts quite a bit these days.”
Before doing any major improvements, Paula recommends looking at what the return on your investment will be, and then deciding if it’s worth it or not. “Consult an agent to see if it will make a difference in the value of the home. Some people might spend $20,000 on a kitchen but in the end, it’s only going to give them an extra $5,000 on the appraisal.”
Paula has been active in the real estate business for close to 26 years and has experience in all areas of the trade. In addition to buying a property and flipping it, she might buy it, fix it up and sell it. Or she may buy a property, hang onto it and rent it for a few years, and then sell it. “I’m hands-on. A lot of agents don’t invest and own property,” she observes. “It’s like a job for them whereas for me, it’s my career and my life. It’s what I enjoy doing.”
She also helps homeowners rent their properties. “We run credit backgrounds, do full background checks, screen potential tenants, do the lease and then manage the properties — including collecting all the rents and doing all the repairs,” Paula explains.
While it may seem like she doesn’t have much time to herself, Paula says that being a real estate agent gives you a lot of flexibility. “I enjoy the freedom of being a business owner. When the kids were younger, it gave me the freedom to attend their activities. I oversee roughly 15 agents now and have a full-time assistant so that I can focus on my clients. I also travel a lot and get to spend time with friends and family. You can’t beat that.”