How much will you walk away with? Meet the Seller Simulator

Host: Okay, so today's question is a good one. Most of us have some idea what our home might sell for, right? But what you actually walk away with after everything comes out of that number? That's a whole different thing. Buddy Blake's here to talk about it. Buddy, welcome back to Real Stories.

Buddy Blake: Hey, thanks for having me. And you nailed it. Most homeowners know roughly what their home might sell for. Way fewer know what they'd actually take home once the costs of selling come out. And honestly, that's the number that decides your next move.

Host: Huh. Yeah, because the sale price is the fun number, but it's not the one that pays for the next place.

Buddy Blake: Right, exactly. So we built something for it. It's called the Seller Simulator, and it's for homeowners here in Wilmington and southeastern North Carolina. At its heart it's a simple seller net sheet.

Host: Okay, so walk me through it. Say I'm a homeowner and I want to try it. What do I do first?

Buddy Blake: You start typing your address. The link's in the show notes. It finds your area and pulls up the last twelve months of real sales there. You see the median price, what homes that closed the first time sold for compared with asking, and how many contracts fell apart.

Host: Oh, that's interesting. So before I even type a number, I'm already looking at what's actually happening around me.

Buddy Blake: Yeah, that's the idea. Real sales, not guesses. Then you fill in your net sheet. You type in a low price, a most likely price, and a high price, plus any costs you already know about.

Host: Three prices. I like that. Because nobody really knows the exact number going in.

Buddy Blake: Right, so you get to see all three. It shows what you'd net at closing in each scenario. It also works out the North Carolina excise tax on your sale for you, and it cites the statute, so you can see where the number comes from.

Host: Nice, so it's not just some mystery math. What about the smaller stuff? Because there's always a bunch of little closing items nobody thinks about.

Buddy Blake: Yep, and those are already filled in for you. Things like the attorney's deed and documents, a payoff wire charge, and an out-of-town notary. And if any of those don't match your situation, you can change them.

Host: Okay, I love that. Now I saw something in here about a Deal Killer Report. That name's kind of intense.

Buddy Blake: Yeah, it is. But it's useful. The Deal Killer Report tracks what happens when a contract falls through in your area. How many extra days those homes sat on the market, and the lower share of asking price they ended up selling for.

Host: So what happens if a deal falls apart? What does that actually cost somebody?

Buddy Blake: That's what the simulator helps you see. It takes those area numbers and applies them to your own most likely price. And if you type in your monthly cost to own the home, it factors that in too. So you can see what a dead deal could cost you.

Host: Oh wow. Okay, that's the kind of thing you'd never think to figure out until it's happening.

Buddy Blake: Exactly. Better to see it ahead of time than to find out in the middle of it.

Host: Totally. Okay, do I have to hand over my name and email just to play with it?

Buddy Blake: Nope. You don't need to give your name to use it. If you want a copy, you tap Email me my net sheet. Someone on our team looks over the one-page PDF before it goes out to you. Or if you'd rather talk it through, you tap Yes, please call me, and we'll walk through a real plan for your home.

Host: So there's a real person in the loop. I like that. Is there anybody who shouldn't use it?

Buddy Blake: Yeah, one group. If you've already signed a listing agreement for your home, please reach out to your listing agent. The Seller Simulator isn't for you, and it actually asks that first and stops there. Also, before you start, it shares the North Carolina Real Estate Commission's Working with Real Estate Agents brochure. It explains who an agent works for and what your choices are.

Host: That's a good thing to have up front. And what about folks who are buying?

Buddy Blake: We've got an Offer Simulator for that. Check the show notes for it too.

Host: Perfect. Alright Buddy, this was really helpful. Where can people go if they want to talk it through?

Buddy Blake: Call or text me anytime at nine one zero, three nine five, one thousand. And the full article is linked in the show notes, along with the Seller Simulator. Go see your number.

Host: Love it. Thanks so much, Buddy. This was great.