The four factors to consider in selling your home are location, condition, market and term…and they are all related.

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Location:

The pricing of your home must reflect its location. The better the location, the higher the

acceptable price. School districts, high or low traffic ways and highway accessibility all need to

be considered in determining the value of your home's location.

We cannot control the location.

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Condition:

The pricing of your home must accurately reflect its condition. The general upkeep and

presentation of your home is critical to obtaining the highest value for your home.

The nature of the roof, plumbing, carpets, and paint all relate to condition.

Basic rule: If we can smell it. . . We can’t sell it!

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Market:

The pricing of your home must accurately reflect the current market. Recession, inflation,

Interest rates, mortgage availability, inventory levels, competition, and the public’s perception of

the general economy all make up the market. It may be a buyer’s market or a seller’s market.

We cannot influence the market. We can, however, take advantage of the market.

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Terms:

The pricing of your home must reflect the terms available. The more financing terms and options

you accept, the more potential buyers there will be for your property. The easier the

terms, the more valuable your property becomes.

 

Setting the Price:

Let’s begin with this direct statement: I am not the one who decides how much your home is worth. The market does!

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The consequences of making the wrong decision are painful. If you price your home too low, you will literally give away thousands of dollars that could have been in your pocket.

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Price it too high, and your home will sit unsold for months, developing the reputation of a problem property.

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Setting the proper asking price for your home is the single biggest factor that will determine the success or failure of your home sale.

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The first 30 days are critical! A property generates the most interest when it first hits the market. The number of showings is greatest during this time if it priced at a realistic market value. Starting too high and dropping the price later misses the excitement and fails to generate strong showing activity.

Many homes that start too high end up selling below market value, or not at all!

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I Won’t Let this Happen to You!

 

Pricing Guidelines:

• What you paid for your property does not reflect its value.

• The amount of money you need to net from the sale of your property does not affect its value.

• What you or your neighbor thinks it should be worth has no impact on value.

• What another real estate agent says your property is worth does not affect its value.

• An appraisal does not always indicate what your property is worth on the open market. Appraisals for refinancing are usually at higher values than its real market value.

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The value of your property is determined by what a ready, willing, and able buyer will pay for it in the open market. Historically, the first offer is your best offer. Value is determined by reviewing the sale price of other recently closed sales.

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Buyers determine value!