The asking price you set for your residence will significantly affect whether you will profit in the sale, how much you will profit and for how long your Home may likely sit on the market. A real-estate agents expertise in the all around housing market , what’s selling or not selling, can be of great use in helping you determine the price. the objective is to sell your home for the highest net price in the shortest amount if time possible.
Here are some points to consider: Time. Time is not on your side when it comes to real estate. However many factors can influence the final result, time is the most powerful determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price.
Pricing your house to sell in a timely fashion, requires some objectivity. It is important that you not confuse value with cost, in other words, how much you value your home versus what buyers are willing to pay for it. Don’t place excessive emphasis on home improvements when calculating your asking price, because home buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.
Because time is of the essence, make it easy for the potential buyers. Remain flexible on when your agent can schedule home showings. Also, avoid putting contingencies on the sale. Though a desirable move in date makes for a smoother transition between homes, it could cause you to lose the sale in its entirety.
As the home seller, you can control three factors that will affect the sale of your house:
The homes’ condition, The Marketing strategy, The Asking price
However, it’s important to note that there are numerous other factors that influence a buyer, and you need to understand these consumer trends when you enter the sellers’ market. The more your house matches these qualifications, the more competitive it will be in the marketplace. Your real estate agent can advise you on how to best position and market your home to overcome any perceived downsides.
Location
It’s the oldest cliche in the world, but it’s true.
When it comes to real estate, it’s all about location!
Unfortunately, the most influential factor in determining your home’s appeal to buyers is something you can’t control its location. When it comes to homes, things like how good the schools are, crime rates, visual appeal of the neighborhood and noise or the smell of pollution can all effect how desirable the location is. If you’re in a bad location, a good real estate agent may help to minimize some of the impact by suggesting improvements to the house. But the only really reliable way to overcome a bad location is with a lower price. Simply put, an identical home in a bad location won’t sell for as much as the same home in a better location.
Size
While some buyers want to simplify their lives and downsize to a smaller home, home sizes in general have continued to increase over the last few decades Smaller homes commonly appeal to first-time home buyers and “empty nesters” or couples whose children have grown up and moved out.
Preferences in floor-plans and amenities go in and out of fashion, and your real estate agent can chime in on the “hot ticket” items that are selling homes in your local market. If your home lacks certain features, you can renovate to increase its appeal, but be warned That’s not always the correct decision. Taking market conditions and activity in your community as a guide, your real estate agent can assist you in determining whether the investment is likely to help or hinder your profit margin and time on the market.
There is a lot of competition out there to sell homes. Your home has to compete against other similar homes for sale, as well as competing against shiny brand new homes.
Look at your home with a critical eye, put yourself in the buyers position. A buyer doesn’t want to have to do anything except move in. Your best “bang for the buck” in improving the condition of your home are paint and flooring. Make sure that all of the paint is in great condition, both inside and out. Repainting doesn’t cost too much, and will usually make the biggest impact on buyers. Make sure all of the flooring looks good too. You may want to consider putting in new carpet. Again, it’s not that expensive but it sure does make an impact on buyers coming to look at your home.
If you have an agent nobody likes, Sounds silly, but it’s very true. If your agent is not liked by
other agents in your town, it could slow down the sale of your home. When a real estate agent prepares to show properties to prospective buyers, the agent begins by talking to the buyer to find out what kind of home they are looking for. Then the agent searches the local MLS and other sources for homes that fit the buyer. If there are a number of good matches to choose from, and one of them has been listed by an agent that is hard to get along with, or arrogant, or has otherwise made himself unpopular, well… It’s just human nature to tend to skip over someone you don’t like.