What Sells a Home
Sellers always want to know the secret to selling their homes quickly. Unfortunately, there is no “Golden Grail”. However there are several factors that a Seller can count on.
According to “Realty Times” here are the top ten. Pay close attention to this list and apply it to your own home.
1. Price: A common misconception that location is the principal consideration that influences whether or not a home sells. The reality is the home’s price motivates a Buyer the most. Logic prevails, location cannot outweigh price. Take into consideration a home located in a prestigious and sought-after neighborhood, yet the list price is tens of thousands of dollars or more over the comps for the area. Buyers are not interested in overpriced homes no matter where they are. The same property competitively priced below the competition will attract Buyers.
2. Location: After “Price”, location is next. If your home is in a prime and sought after location combined with the correct market price, your home will sell.
3. Liveability: A must in real estate. Buyers no longer only demand a beautiful home with a good flow. Today, Buyers always look for neighborhoods that offer certain lifestyles such as waterfront, boat dockage, golf parks, restaurants, theaters, excellent schools, walkable and safe neighborhoods.
4. Condition: Some Buyers are renovators, flippers or investors. Today’s Buyers are reluctant to buy a run-down property just because it is in a good location. Homes that are well-maintained or in move-in ready condition appeal to a broader range of buyers. Even simple fixes, such as new paint, cleaned carpets, or power-washed decks, can produce a positive result.
5. Competitive Advantage: Don’t assume that you’re home for sale. Past area sales, as well as current listings and foreclosures, are your direct competition. A Seller must take all homes for sale into consideration when settling on a list price for your home. What amenities and upgrades do these homes have? Do the neighborhood homes that you are competing with all have updated baths, kitchens, or landscaped yards? In order to price in line with them your home must be equal or better.
6. Curb Appeal: The 1st impression is always the most important. Your home, starting from the exterior must be maintained.
7. Staging: From the moment a Buyer enters your home, they must be captivated. Updated furnishings, smell a clean home, kitchen cabinets that are in good repair, enjoy peace and quiet as well as feel and imagine the “good life.”
8. Kitchens: Make no mistake, kitchen sell homes. It is the focal point of a home, families and friends gather here. Minor kitchen remodels rank high among the list of top remodeling projects, with owners updating cabinets, counters, and floors. Nobody wants an outdated kitchen.
9. Agents: A proficient, experienced and professional agent will give you the competitive advantage during the selling process. They know the latest market trends and have built a network of agents, contacts and social networks to market your home to. With a collection of marketing tools available to agents today, from video tours, social networking sites and webcasts to brochures, websites, and MLS listings, they are the most important part of your selling team.
10. Marketing: Marketing a home in today’s market requires a Global presence. Effective marketing and use of the Internet allows your agent to showcase your home to millions of potential worldwide buyers. Sit down with your agent and develop a solid marketing plan. Make sure you receive a written marketing plan. This is why you are paying them a commission. Make them earn it!
The market has changed; it is not what many Sellers remember. Sellers must be realistic about what selling in today’s market means. Typically Sellers perceived value of their home is higher than reality. It may not be “worth” as much today as it was yesterday, last month, or last year. Provocative thought; If you choose not to accept the reality of the current market, are you prepared to accept the consequences of ignoring the Reality of the Market? If you are realistic and think through the above top ten factors, a successful closing will shortly follow!
William Kedersha August 4th, 2011