7 reasons homes sell (or do not sell)
1. Location - In order to get top dollar the property must be located away
from undesirables like busy streets, highways, and power lines, not enough space
between the property and the neighbors, poor drainage, etc.
2. Available terms - availability of new loan products, closing and possession
dates within 60 days of contract, possible seller carry loan terms.
3. Supply/demand - what is the absorption rate for your area and your price
range? 0-3 months Seller's Market, 4-5 balanced, 6+ Buyers Market.
4. Condition - It is difficult to see your home as someone else will. But
in getting top dollar, you must learn to see your property with the critical
"buyer's eye" before the first showing. I can help with specifics.
5. Marketing - Select the right broker who simultaneously, markets the property
to buyers agents, and prospective buyers. (Do you know where buyers come from?)
A designated, full time, knowledgeable real estate broker save time, money, and
aggravation. Interview 3, and pick one for a 90 day listing period.
6. Access - Is your property hard to show i.e. 24 hour notice, even 4 hour
notice may take your property off the showing list. I'll teach you "house
ready" showing tricks.
7. Price - Use what other buyers have paid other sellers as a guide. A CMA
(competitive market analysis) will show comparable properties by status
(available, under contract, sold & withdrawn), and it is more of an art than a
science. Avoid thinking that your property is better than theirs, at least
not more than 10% of market value better.
Really you control all of these except location. If you chose a
property that is lacking in the prime location department, over compensate with
the other six!
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