Now that the market is trending more towards the favor of sellers, it might be a good time to talk to your real estate professional about listing your home for sale. If you’ve wanted to downsize or even upsize or just simply want a different home than the one you have now, the best way to determine marketability is to consult with an expert.
The following is a list that we provide to clients at Maximum One Realty that we believe can be very helpful in helping a seller understand what he or she can expect from the process. We refer to these as key market factors. It’s important to keep all of this information in mind both before and during the marketing of your home for sale.
The time it takes to sell a home is specific to the individual property. There is no quick answer to the question, “How long will it take to sell?” Though properly balancing the following factors will certainly help speed up the time from list to sell.
- Location. Location is the single greatest factor affecting value. Neighborhood desirability is fundamental to a property’s fair market value.
- Competition. Buyers will compare your property against competing properties and interpret the value based on that assessment.
- Condition. Property condition affects price and speed of sale. Optimizing physical appearances and advance preparation for marketing maximizes value.
- Terms. The more financing options available to the buyer, the more likely you are to sell quickly. Terms structured to meet your objectives are important to successful marketing. Listing your property as not open to FHA loans, for example, will eliminate a large segment of the buyer pool.
- Price. If the property is not properly priced, a sale may be delayed or even prevented. A comprehensive market analysis will assist you in determining the best possible price.
- Time. Chances are your home will sell at fair market value. Pricing your home realistically at the outset will increase the likelihood of a timely sale, with fewer inconveniences and greater overall monetary return.
- Reputation. Overpricing causes most homes to remain on the market too long. Buyers, aware of a long exposure period, are often hesitant to make an offer because they fear “something is wrong” with the house. Often, homes which are on the market for a long time eventually sell for less than fair market value because the buyer might think the length of a listing equates to a now desperate seller.
- Inconvenience. If overpricing keeps your home from selling promptly, you can end up owning two homes or lose your chance at the new home you wish to purchase. This can prove costly and inconvenient.
The majority of your marketing plan is completed with a correctly priced property. If you are unwilling or unable to price your home to market value or even slightly below market value, you would be better served not listing your home for sale.
If you would like a professional assessment of your home’s potential marketability, please email us at firstname.lastname@example.org to set up your no-risk consultation.
iDeal Real Estate Professionals LLC is owned and operated by Brandon Bramlett and C. Mark Willix and is affiliated with Maximum One Realty Greater Atlanta. For personalized service, visit us at www.idealrealestateprofessionals.com. You can also email us at email@example.com.