After, over 15 years, as a Real Estate Licensed Salesperson, in the State of New York, I have witnessed situations, where homeowners, seemed to maximize their selling prices, while, other times, achieved, far – less, satisfying results! The reality is, effectively, successfully, marketing and selling a house, demands time – tested, timely, well – considered, strategies, and, often, hiring the best, real estate professional, for your specific needs, and priorities! A well – considered, strategy, requires several factors, and considerations, and, proceeding, from the onset, in a wise, effective manner. With, that in mind, this article will attempt to, briefly, consider, examine, and review, 6 specific keys, to significantly, wiser, home selling strategies.
1. Begin with a Competitive Market Analysis (CMA), which is professionally – designed, and created: Instead of, basing your listing price (the price, you offer, the house – for – sale, on the market), on emotion, greed, or overly – rosy, predictions, the best way, to do so, is, to use a Competitive Market Analysis, which, professionally considers, what similar houses, are selling for, in the specific, local, real estate/ housing market! This should indicate a range of pricing, based on reality, and economic considerations, and competition!
2. Current Market Conditions: When comparing selling prices, it is essential to base these on very recent, transactions, and action, price sold, rather than, merely, offered/ listed at! In addition, is the local market, a Sellers, Buyers, or Neutral one? Hire a real estate agent, who will make you the best – informed, consumer, and seller!
3. Specifics of Property: How does a particular house, and property, compare with similar ones, in the local region? What features, make this house, more or less attractive, and valuable? Are the style, room – size, and overall condition, make it, more or less desirable? How about the curb appeal? When, potential, qualified buyers, view, and/ or, drive – by, a property, does it attract, them, in a positive, compelling way?
4. Supply and Demand: Current Supply and Demand, impacts, listing and selling price! When, housing inventory, out – numbers demand, it is a Buyers Market, and, competition for qualified, potential buyers, is up! When, the reverse happens, we often witness, significant rises, in pricing! When, it is someplace, in – between, it is a neutral set of conditions, and, a specific, well – considered, and designed plan, is necessary!
5. Buyer perceptions: Often, it is buyer perceptions, positive or negative, which determines how a particular property, will perform, related to others! Why do you believe, sellers spend for staging a home, to help it get sold, for the highest, possible price, in the shortest period – of – time?
6. Mortgage interest rates: We have experienced, record, or near – record – low, mortgage interest rates, for a significant period of time, in the past couple of years! Since, this permits individuals to qualify, for larger amounts of money (to borrow), and afford lower monthly payments, it creates rising prices, because buyers feel, they can acquire, more – bang – for – the – buck! However, this is often, somewhat, uneven, because, every property, doesn’t rise, at the same – rate!
If, you are considering selling your home, hire an agent, who considers, and explains, how he will best utilize these 6 keys, as well as other relevant ones, and how it might benefit you! Since, for most, their home’s value represents their single – biggest, asset, doesn’t it make sense?