Andrew And Associates

The Four Most Important Factors in Selling Your Home

At least four factors impact the sale of your home. Three of the four factors you have some control over. To get maximum value for your home in minimum time, you should address each of the factors carefully.
 

1. Proper Pricing

The one item that produces more impact on the sale of your home is the price. There are two mistakes often made in determining the price of your home.

To be totally honest, most homeowners have a difficult time seeing their home through the eyes of the buyer. After all, you’ve had so many memorable experiences in the home. You know it’s a great home and neighborhood. However, the number one mistake is pricing the home too high.

If you price the home too high, it may stay on the market for a very long time. The longer your property is on the market, the less marketable it becomes. In fact, buyers and neighbors begin to wonder if something is wrong with it.

Research shows that asking too much for your home can increase the time to sell by as much as six times. That means if you home is priced correctly it may sell in one month versus six months if it is priced too high… and you will probably have to adjust the price to sell it.

The second mistake is pricing your home too low. This leaves a lot of money on the table and hurts the value of the real estate in the neighborhood. Many homeowners are very happy when they sell their home themselves and they should be. However, when it sells very quickly, is it because the home was priced too low? I personally know a homeowner that priced their home $42000 too low. That’s a lot of extra mortgage to pay on the next home. You want to maximize your hard earned investment.

Properly pricing your home is critical. You can’t just decide that you need a certain amount of money, so that is the price you will ask for your home… or because your neighbor just sold his house for a certain amount, that is what your home will sell for also. Buyers determine the value. They’ll compare your home and your asking price to similar homes on the market. If your price doesn’t stack up, they may reject it and move on to the next listing.

To avoid over-pricing or under-pricing your home, you need to have an experienced real estate professional prepare a Comparative Market Analysis (CMA) report for your home. A CMA report provides details on recent sales of homes similar to yours, as well as the asking price of homes currently on the market. By carefully analyzing this information and the other factors below, you and your agent can determine a fair and competitive asking price.
 

2. Condition of Your Home

A second important factor is the condition of your home. You never have a second chance to make a good first impression. Research shows that many buyers take less than one minute to make a buying decision when they enter a home. They will either confirm their impression in the next five to twenty minutes or they will move onto the next home.

“Staging” your home is a way to show your home in it’s best possible light. If it is done right, it allows potential buyers to see themselves living in your home. Showing your home is an entire subject by itself. See our article “Showing Your Home For Maximum Impact and Value”.
 

3. Location of Your Home

You have no control over the location of your home. You can’t pick it up and move it. However, every buyer is unique. The right qualified buyer will think your home is exactly what they’re looking for.

4. Marketing Your Home

Finally, you want the best marketing available. You must maximize your exposure to qualified buyers. Selecting the right real estate agent is critical.

You need to have a specific marketing plan to maximize your home value and minimize your time. Many homeowners feel they can simply put up a sign in the front yard and advertise in the local paper. Today, the truth is that very few qualified buyers use the paper to find their home. They learn about homes through referrals and the use of technology, such as the Internet. At the very least, your home should be listed in the local Multiple Listing Service (MLS), to gain as much exposure as possible.
 
You want to work with the right agent and a reputable company such as CENTURY 21. Century 21 is the most recognized name in real estate in the world. They have a global network of home selling professionals and utilize state-of-the art technology to help handle all the details and ensure a smooth transition. In short, they can help anyone, anywhere at any time.

Do you have questions or need advice you can count on or just want to discuss this further?

Don’t waste any more time; pick up the phone and call me now!  I’m here to help!

I offer a five star guarantee. I appreciate your business, loyalty, trust and referrals. My goal is to provide the very best counsel and advice to meet your real estate needs. If I can assist you, a relative, friend or co-worker, please give me a call. I look forward to the opportunity to serve you.

For prompt, courteous, professional service, call Larry Andrew: