Five Reasons a Home Sells… and The Four You Control
Location. Location. Location.
As the saying goes, location plays a very large part in the value of your home and how fast it will sell. We have very little control over location beyond such factors as zoning and neighborhood associations. However, the really good news is that you do have a lot of say in the next four reasons.
The right asking price is second only to location in importance. If you over-price your home it will only be seen (if at all) by buyers in a price range above yours. This usually means they are comparing your house to other houses they’ve seen that are probably larger and with more amenities. Your over-priced house will always come in second with these buyers.
If you over-price your home, buyers who are looking for just what your house offers will never see your home because it’s priced above their pre-qualified price ceiling. They will first see other houses priced more correctly, and will buy before getting around to yours.
Q: ” Why doesn’t someone just make me an offer?”
A: Because buyers in your price range are comparing your house with other houses they’ve seen that offer as much or more for less money. Put another way, your home doesn’t match the amenities that other homes in your price range offer.
Agents will very often use an over-priced home to show the advantages of properties that are priced right – so, even if your home is being shown, it could be for the wrong reason! You will never get an offer on yours because the wrong buyers are seeing it.
The solution is to be the best home in the right price range!
The right price can only be determined by a well researched evaluation called a Comparable Market Analysis comparing your home to similar homes that have recently sold – as well as a study of other homes currently for sale on the market. Patrick Parker Realty is happy to provide you a complimentary Comparable Market Analysis.
Condition of Property or ‘Equity’
The condition of your home controls your price. If your home looks ‘beat’ – forget about top dollar. Keep in mind that condition is often a matter of perception. You could have a new roof, new HVAC, and updated electric service, but if your carpeting is faded, window trim is peeling, and kitchen cabinets are chipped and worn, all those good things you’ve done to improve the ‘bones’ of your home will probably be overlooked or discounted.
Staging your home to sell is not conditioning. Nor is it simply decorating. It’s realizing that the way you live in a home is not the way you sell your home. It’s ‘de-cluttering’ and ‘depersonalizing’ your home to appeal to all buyers and ‘theatrically staging’ each room to magnify the personality and features of each room. The price of staging your home will be considerably less than your first price reduction.
If buyers can’t find your home, all your conditioning and staging is for naught. The marketing of your home will only be as good as the Agent you select.
Marketing isn’t just advertising and holding open houses. It’s knowing where and how to advertise a particular home to reach a particular audience. It’s understanding all the newest technologies so they can be leveraged to reach qualified buyers. It’s networking with other agents who may be working with those searching for homes in your neighborhood. It’s showing off your home to maximize it’s appeal.
When you hire a Patrick Parker Realty Agent to sell your home, he or she is ready to be with you every step of the way – from listing to closing. Before you ever officially list the home, we can help you put it in the best condition to sell. We’ll advise you on any updates or repairs that will make your home more attractive to potential buyers.
We can evaluate your home and recommend a price that will get it sold in a reasonable timeframe. And we’re ready to manage the showing process, evaluate offers, find and qualify buyers and conduct negotiations.
Contact us for a free consultation and to learn more about the marketing plan we’ll customize for you.