Key Selling Factors
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Key Selling Factors
Successfully selling a home involves sound planning, quality advertising, thorough market exposure and knowledgeable salesmanship. But there are additional factors that impact your property's resale value:
Asking Price
Use a comparative market analysis (CMA), prepared by your agent, to determine a listing price that is appropriate for current real estate conditions and competitive with comparable properties. If your home is priced higher than others in the neighborhood, buyers know they can get the location for less. Aim for the middle of the road, which leaves room for negotiation and entices seriously interested parties to make a bid.
Location
Location plays a key role in attracting buyers. Are you near schools, public transportation, entertainment, restaurants? Highlight your proximity to desirable community amenities to increase your home's desirability.
Market Conditions
Interest rates, consumer confidence, neighborhood trends and the overall economy affect real estate sales and lead to a "seller's," "buyer's" or "balanced" market. Know which situation you are dealing with and expect the value of your property to adjust accordingly.
Competition
The level of inventory of homes similar to your own impacts your property's resale value. When there are several comparable places with similar amenities, finishes and location, price usually determines who gets the sale. Extremely customized floor plans (even though they have little competition) may not fly off the market because it suits a very specific niche instead of the majority of buyers.
Aesthetics and Ameities
Attractive interior décor, neutral color palettes, newer appliances, sound foundation, reliable roof, manicured landscape, and a well-kept "look" appeal to the largest audience and sell quicker.
