The 5 Most Important things that Sell your home, Part 1
1. Location - We've all heard that when it comes to Real Estate it's Location, Location, Location. That is very true. The problem is, we're here to talk about Selling Your Home. You already own it. We can't change the location. What we can do is focus on the other 4 items. They NOW become even more important.
2. Price -Start here. First do a Market Analysis of your neighborhood. What have houses in your neighborhood been selling for? How long has it been taking them to sell? How many homes are currently on the market in your neighborhood? How do you compare to them?
It's also important to see what your competition is in the surrounding neighborhoods. Depending on where your home is located, this can be a very easy process or it may need some in depth studying on the part of your Realtor.
When setting a price, it's important to remember that not only do you come to terms on a price with the Buyer, the home must also appraise for the sales price. If priced too high, you may not get any showings, causing you to be on the market longer than necessary. Price is where you compensate for any of the other variables that might make your property less desirable than another.
Pricing your home correctly in the beginning, usually results in you receiving the highest and best possible price in the end.
3. Terms - This covers several different things.
First is the availability of your home. Is it ready to show at a moments notice? Or do you require 24 hours notice AND want your agent to be present.
Next, what terms will you accept when you get to the contract stage? Can you be out in 30 days? Or do you need to find a home to buy before you can agree to a close date? Will you accept an FHA or VA contract? You have a lot of control here, but you can also hinder a sale by not being open for what the Buyers' may or may not need.
4. Marketing - This is where your Realtor needs to shine. Your home should be ALL over the Internet. 87% of all Buyers first see your home on some Internet site before coming to see it. You need multiple pictures that show the features of your property.
There are many different programs available to highlight the inside of your house. Every property is different and needs to be presented in such a way that it shows that which will create a need to see the property in person.
A good marketing plan will be customized to include a variety of ways to expose your home. It may include Open Houses, Realtor tours or lunches, print advertising in local papers or magazines and often a postcard campaign to surrounding properties.
5. Condition - This is the last item for a reason. When all of the above Items are done well the condition will determine if a buyer will purchase your property or not. Todays Buyer wants to move into a home with little or no fuss. There is an abundance of properties to choose from and it's very easy for them to move on to the next place. Condition is so important that it will be the Feature of Part 2.
A good Realtor will know how to navigate all of these issues. It's important that you Hire A REALTOR. Interview several. It won't hurt. Then you can compare marketing plans and their philosophy on how to sell your home. Hire a Realtor. You wouldn't want the plumber doing your Oral Surgery would you?
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Connie Harveyis a local agent with Prudential Woodmont Realty, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals.
Connie can be reached at 615-661-7800 x 1300 or at HarveyC@realtracs.
Follow her Blog: Nashville Tennessee Living
