Location, Location, Location…?
I am often asked, “What sells a house?”
Coupled with high-quality, professional marketing; I believe that buyers weigh three factors in deciding which home to purchase: Location, Condition and Price.
LOCATION includes many factors such as school district, lot size, neighborhood and convenience to work, Church and favorite shopping and eating establishments. Location can also include where the home is located within a certain neighborhood; does the home back to commercial property or a major street and other similar factors. There are some actions that your Realtor can suggest which can be implemented to mitigate what some buyers may perceive as negative location related aspects. One thing to remember is that no two buyers are alike and each will have their own definition of a “desired location.”
When I mention CONDITION; the age of the roof, HVAC and other mechanical items are generally the first things that come to mind. While having a well-maintained home is a huge selling point, in my experience, the appearance of the home is also just as important and more immediately noticeable. If the home is cluttered and improperly staged it can turn buyers away immediately. We utilize a professional staging company prior to taking pictures or showing our listings. Our stager goes through the home room by room recommending items for removal and suggesting proper furniture arrangements that will maximize the space and functionality of each room. Statistics show that professionally staged homes sell at a higher price and 70% faster than unstaged homes. You’re already moving anyway – it won’t hurt to get a head start by packing away clutter! Further, savvy sellers opt to have a pre-market home inspection performed to know the true condition of their home. Equipped with that knowledge, there shouldn’t be any huge surprises during the closing process, there will be more time to complete any necessary repairs and you’ll be better armed to negotiate once an offer is received.
Appropriate PRICING is certainly a very important factor as the market is extremely price-sensitive. The right price for your home has nothing to do with what you paid, what you owe, or even the amount you need to net from the sale of your property. A licensed Realtor should visit your home and review an analysis of comparable homes to help you determine the competitive market value of your property. It is very important to get the right price from the beginning as pricing your home too high will only work against you in the long run. We live in a “right-now, on-demand world” and buyers have a short attention span; the best “ready and qualified buyers” will see your home early in the marketing process and they will be educated as to market value.