How Does Goodwill Come into Play in Costa Mesa Listings?
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When you and your Realtor sit down to arrive at your property’s Costa Mesa listing price, there is no controversy about the mutual goal. The object is to arrive at the highest figure that will attract the greatest amount of interest from qualified buyers. That it will also begin the process of getting to the signing table in the shortest time is built into that objective. The only mystery is how many qualified buyers will be currently searching the Costa Mesa listings for just such a home.
That sounds a little simpler than it is in reality. The most basic element that goes into establishing the listing price is the Costa Mesa “comps”—recent sale prices for comparable homes. But since no two properties are exactly the same, that is just a departure point: the most scientific part of what is actually more of an art. Other elements can be the momentum of the local market (are the prices people are willing to pay on the move? Up or down?), the relative condition of the property, the comparative desirability of the home’s location within the neighborhood, etc.
And when it comes to one of the least definable elements, there is the elusive “goodwill.” In standard business lingo, “goodwill” is a measure of the reputation of a business, which works out to the difference between the price paid for it and the fair market value of just its assets. That difference—the goodwill value—is something not usually considered in discussions of residential real estate. But that might be a mistake. To the extent that buying a home has an emotional component, goodwill in Costa Mesa real estate is intangible, but real.
Goodwill in our realm is the emotional component—the ‘vibe’ that surround the property being listed. That factor will differ in how it affects any given prospective buyer—it is largely a subjective reaction. Of course, a property with high “curb appeal” will dependably rate higher on everybody’s initial “goodwill” meter. Likewise, one in prime condition will appeal to virtually everyone. A home that otherwise rates well—but which is too close to a noisy intersection—will almost always lose goodwill (in the most extreme cases, there may be such a thing as badwill!)
There is also the aura surrounding any given Costa Mesa listing itself. For most of today’s buyers, the initial exposure to a home for sale is via its listing, so the allure of the photos and the descriptive language can be engaging, or off-putting, or nothing special (truly, a wasted opportunity). That’s where we come in. As your selling agents, we’ll make sure we get the most out of our Costa Mesa listing. Making it a goodwill-generating machine is what we strive for. Call us when it’s time to sell—we’ll show you what we mean!
We are built on a philosophy of Heritage & Hustle. The L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976. It’s L3 mission is to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. The L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate companies. From its small beginnings of only two employees, The L3 has grown to a full staff of 25 serving over 300 clients a year. The L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has The L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to The L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact The L3 today at 714-444-4663 or email us at info@thel3.com
