The first three are factors you have no control over, Location, Competition and Timing. 1. Location: Just like the old real estate cliché, "location, location, location". Probably the single most important factor of all. Good schools, safe neighborhoods, streets without heavy traffic. I do many searches for buyers based on school district boundaries instead of cities and townships. Certain neighborhoods are brought to my attention over and over again. 2. Competition: Guess what, you will probably not be the only home for sale in your town, neighborhood or even your street. Dependent on what those other homes are priced at will effect what price you can get out of your home. And this picture changes day by day. Some homes will sell as others come on the market to replace them. A good real estate agent will keep you posted on this competition so you can adjust and make decisions. 3. Timing: What kind of real estate market are you trying to sell your home in? A buyers market? A sellers market? How are interest rates? How is the job market in your area looking? You will have to adapt and change your strategies for each of the markets and situations mentioned above. This is where your agent can come in with much experience and advice. They will have been selling in that market and seeing what works.
Now there are quite a few things we do have control over.
4. Characteristics: Just another term for the condition of the home and what features it has. There are a lot of fairly inexpensive ways to give your house a facelift. Usually it’s more difficult to get your money back for any major re-modeling. A good Realtor will help you with this. 5. Terms: By all means offer the buyers FHA and VA loans terms if your house qualifies for this route. Many don’t. There’s much flexibility to work a deal that benefits both buyer and seller. Plus you open up a whole new market for your home. The good Realtor will take care of any extra paperwork that is required. 6. Price: The big one! The rest is academic if this one isn’t right. Don’t always go with the agent that suggests the highest price to list your home. That is a classic trick to get your listing, assuming you’ll get tired or scared eventually enough to lower the price. Your good Realtor will provide you with the information and experience. You’ll set the price. 7. Exposure: This is the good Realtor most important job. Exposure of your home to the greatest amount of qualified buyers as possible. Make sure the agent lays out a clear marketing plan and gives you documentation of that plan that a broker will back up. A good Realtor will approach each listing individually and market it accordingly. They will never lose sight of the goal to sell your home. That’s how we get paid. |