Selling your home

Selling Your Home - What Sells a Home

When in the process of selling a home, sellers wonder what sells a home.  There is no hard and  fast rule that will ensure the perfect sale.  But there are certain factors that affect how quickly and how much your home sells for.

Here is list of things that most impact the sale of a home and in the order of importance.

1. Price: Price is the number one factor in getting your home sold – not location as some people think.  If you are selling your home in a terrific and sought-after neighborhood but it is priced higher than the comparables for the area, it is going to be extremely difficult to sell. Yet if the property were priced just below the competition it would sell very quickly.

2. Location: Location is the second most important issue in selling a home. A home that sits next to a commercial plant, or a bad area, or busy street is less desirable than one that backs up to green space.

3. Liveability: Buyers are looking for neighborhoods that have amenities close by such as parks, restaurants, and convenience with shopping and entertainment. Those with children are very interested in areas with good schools.

4. Condition: Homes that are well-maintained or in move-in ready condition really appeal to buyers.  In fact, many buyers are specifically looking for a move-in ready house.  They either don’t want to deal with fixing up a house or all of their available cash will be used in the purchase of the home so they won’t be able to afford things like new carpet, etc. There are buyers who renovate, and flip houses but they are looking for houses that they can buy at discounted prices so there will be a return on their investment after they have bought, fixed up and sold the homes.

5. Competitive Advantage: Don't make the mistake of assuming that your home is so unique and special that you assume that it will sell easily.  Your competition is not only the homes that are currently on the market, but the past sales nearby including foreclosures. You must take these into consideration when settling on a list price for your home. What amenities and upgrades do these homes have? Do the homes in your neighborhood all have updated baths, kitchens, or landscaped yards? In order to price in line with them you must have these same things.

6. Curb Appeal: Curb appeal is the first impression of the home. You must keep the yard orderly and maintained when your home is on the market. I have pulled up to the curb to show houses with buyers in my car several times and the buyers took one look (from the curb) and said that they didn’t even want to get out of the car to see the inside of the home.

7. Staging: Once inside your home, there must be a “wow” factor for the buyers. They want to see a clean and odor-free home with up-to-date fixtures,  kitchens and bath that are in good repair (cabinets and flooring).  Buyers often look at your things rather than focus on the home so it is very important to pack up a lot of the things (clutter) in your home so the buyers can focus on the “bones” of your home.

8. Kitchens: It is where families spend much time together. Nobody wants an outdated kitchen. What updates and fixes can you manage in your budget to get your home ready to go on the market? If your kitchen is already spectacular, be sure you play this up in any marketing.

9. Agents: An accomplished, knowledgeable agent can be your biggest ally during the selling process. They know the latest market trends and have built a network of agents and contacts to market your home to. With an arsenal of marketing tools available to agents today, from video tours and websites to brochures, websites, and mls listings, they are a critical part of your selling team.

 

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