When you decide it is time to list your home for
sale, it is important to then work on getting the
best possible sales price, and ultimately the
highest profit from the sale that you can. To
this end, there are four factors which will
determine the price that your property will sell
for. They are: location, price, condition and
you’re listing agent. Let’s take a moment to
look at each of these factors in-depth:
Location
The location of your home is something you have no control over. It is located where it is located; however, you should understand that ultimately its location will affect the price which your property will sell for. You should always keep location in mind when you are purchasing property and avoid buying property with a flaw in the location. By thinking ahead about location you can ensure that you can always resell your home.
Price
The price that you ask for your home is up to you and your real estate agent to determine. Any real estate agent can give you a current market analysis on your property. They simply take the most recent sales of homes in your area, which are similar to yours, and those which are currently on the market, and from that data they formulate an approximate market value.
Condition
Your home’s condition is paramount when it comes to making or breaking a sale. Your home should be as clean as absolutely possible, and clutter free, at all times when the home could be shown to potential buyers. If your property is empty when you will have it on the market, then you might want to consider having the home “staged.” Staging is where you pay a company to come in and furnish your home in the best way possible to help buyers see the positive aspects of a home and notice less of the negative aspects of it. Staging a home can be completed for a couple thousand dollars and can greatly enhance its appeal to potential buyers.
The condition of your front and back yards should be impeccable as well. All trees and shrubs should be neatly trimmed, and flowers should be planted to make the home more inviting to prospective buyers.
Listing Agent
Your realtor or real estate agent will be the one who helps you to understand the local real estate market conditions, prices your home for sale, lets you know about staging, helps you deal with all of the paperwork involved in selling your home, and ultimately sells your home. For these reasons you want to insist on a listing agent who is very experienced and who has a proven track record of selling property in your area.
Pricing Your Property for Sale
It is important for you to have the right listing agent to sell your home, for your home to be in excellent and clean condition and in a good location; however, nothing affects your sale more than the price you decide to list your property for.
Buyers who are serious about purchasing a property will begin their search by only looking at properties which are in their particular price range. Most have visited their mortgage broker already and know what they can afford to purchase and what they cannot. If your home is over-priced for your area then it will not bring in the serious buyers that it otherwise would. Over-pricing your home can lose you the value of a quick sale at a good price and is one of the most common mistakes that sellers today make.
If you plan on negotiating your price down eventually, you can save yourself a long stay on the market, and lots of frustrations, by starting at the price you want to sell for. People will make you a full offer if your home is priced competitively compared to the rest of your local market.
If you slightly under-price your property, by 1 to 3% you can find yourself in the very favorable position of having multiple offers who might bid up the price against each other. This can actually make your home sell for more money than the list price.
If you are serious about selling your property in a reasonable amount of time, you cannot go wrong by pricing it at or slightly below market price. Your home will make the biggest impression on buyers during the first couple of weeks it is on the market. It is important to have it showing its best and priced well for this time period.
Location
The location of your home is something you have no control over. It is located where it is located; however, you should understand that ultimately its location will affect the price which your property will sell for. You should always keep location in mind when you are purchasing property and avoid buying property with a flaw in the location. By thinking ahead about location you can ensure that you can always resell your home.
Price
The price that you ask for your home is up to you and your real estate agent to determine. Any real estate agent can give you a current market analysis on your property. They simply take the most recent sales of homes in your area, which are similar to yours, and those which are currently on the market, and from that data they formulate an approximate market value.
Condition
Your home’s condition is paramount when it comes to making or breaking a sale. Your home should be as clean as absolutely possible, and clutter free, at all times when the home could be shown to potential buyers. If your property is empty when you will have it on the market, then you might want to consider having the home “staged.” Staging is where you pay a company to come in and furnish your home in the best way possible to help buyers see the positive aspects of a home and notice less of the negative aspects of it. Staging a home can be completed for a couple thousand dollars and can greatly enhance its appeal to potential buyers.
The condition of your front and back yards should be impeccable as well. All trees and shrubs should be neatly trimmed, and flowers should be planted to make the home more inviting to prospective buyers.
Listing Agent
Your realtor or real estate agent will be the one who helps you to understand the local real estate market conditions, prices your home for sale, lets you know about staging, helps you deal with all of the paperwork involved in selling your home, and ultimately sells your home. For these reasons you want to insist on a listing agent who is very experienced and who has a proven track record of selling property in your area.
Pricing Your Property for Sale
It is important for you to have the right listing agent to sell your home, for your home to be in excellent and clean condition and in a good location; however, nothing affects your sale more than the price you decide to list your property for.
Buyers who are serious about purchasing a property will begin their search by only looking at properties which are in their particular price range. Most have visited their mortgage broker already and know what they can afford to purchase and what they cannot. If your home is over-priced for your area then it will not bring in the serious buyers that it otherwise would. Over-pricing your home can lose you the value of a quick sale at a good price and is one of the most common mistakes that sellers today make.
If you plan on negotiating your price down eventually, you can save yourself a long stay on the market, and lots of frustrations, by starting at the price you want to sell for. People will make you a full offer if your home is priced competitively compared to the rest of your local market.
If you slightly under-price your property, by 1 to 3% you can find yourself in the very favorable position of having multiple offers who might bid up the price against each other. This can actually make your home sell for more money than the list price.
If you are serious about selling your property in a reasonable amount of time, you cannot go wrong by pricing it at or slightly below market price. Your home will make the biggest impression on buyers during the first couple of weeks it is on the market. It is important to have it showing its best and priced well for this time period.
Selling Your Home for Maximum Profit