Understanding The Buyer

In it’s simplest form, as the seller you can control three factors that will affect the sale of your home:

* The home’s condition
* Asking price
* Marketing strategy (in conjunction with your Realtor)

These three items and how well they mesh will have a large impact on how successful you are at selling your home. For once you go on the market, the buyers will determine if the market will bear your price. There’s a old saying that says when you list your home you’re “in a beauty contest in a pricing war” and I think there’s a lot of truth to that. Buyers will often schedule 5-8 showings in one tour and then they will be comparing one to the other. If a buyer sees two homes at about the same price, one is turn-key and the other needs work. Why would they pick the one that needs more work when they can just move into the other?

So the goal is to get your neighbors home to sell your home by being the “shiny penny” and having your home priced accurately in accordance to it’s condition.

Location:

As the old saying goes, “location, location, location”. This is also one of the most influential factors in determining your home’s appeal to a buyer and unfortunately it’s the one you have the least control over. According to the National Association of REALTORS(r), neighborhood quality is the No. 1 reason buyers choose certain homes. The second most influential factor is commute times to work and school.

Amenities:

Preferences in floor plans and amenities go in and out of fashion. Depending on your location, price point, condition and resources, it might be worth doing some updating before you sell if your home. But be forewarned: That’s not always the right move. Talk to your agent before you begin to make sure you’re spending your money in the areas that have the best return.