Thinking of Selling?
What factors influence the pricing of your home?
The pricing of your home is a fundamental component in the home
selling process. Since the Real Estate Market is constantly changing,
the pricing of your home is a reasonable figure influenced by a
number of factors:
- The current Real Estate Market
- The experience of your real estate representative
- The condition of your home, as well as lot size and square
footage
- Factors such as location, amenities and special features of
the property itself
- The selling and listing of comparable homes in the surrounding
area
THERE ARE ONLY TWO THINGS
TO REMEMBER WHEN SELLING A PROPERTY:
PRICE
and
EXPOSURE
Without these two key elements factored into the marketing of your
home, you will be waiting a long time for any respectable offer.
The best opportunities to sell your property occur during the first
few weeks it is on the market. Studies show that the longer a property
is on the market the less likely the seller will realize a beneficial
sale.
It is important to price your property close to market value when
you first list it. BEWARE OF OVER-PRICING!!!! The market
is so sensitive to price that over-pricing, by even a few thousand
dollars, could mean a long period of frustration and disappointment.
It's interesting, but your first offer is usually your best offer.
Here are reasons for pricing your property at the market value -
from day one - in order to net you the most amount of money in the
shortest amount of time.
An overpriced home:
· Lowers buyer response
· Limits qualified buyers
· Minimizes offers
· Often nets the seller less
If you are unwilling or unable to offer your home for sale at current
market value, you would be best advised not to place it on the market.
Here are some hints that will help you get optimal market value:
Access
Easy access is the key - pun intended - to a beneficial sale. Buyers
are usually working to a definite schedule. If they can't see your
home at their convenience, they won't buy it. The greatest way to
encourage showings on your property is to make a key and access
readily available. When your home is being shown, consider doing
the following:
- Keep lights on
- Keep all drapes and shutters open
- Leave soft music playing
- Take a short walk with your children and pets
Let the buyer be at ease and let the agents do their job
Curb Appeal
The front exposure, yard and setting reflect the overall desirability
of your house to most buyers. First impressions are critical. Make
certain that the trees are trimmed so that the house can be seen from
the street. Have the grass mowed, trimmed, and edged. Walkways should
be swept. Clean away debris. Remove parked cars. If a buyer doesn't
like the outside, they are not likely to want to see the inside.
Cleanliness
Most people are turned off by even the smallest amount of uncleanliness
or odor. A vendor can lose thousands of dollars by not presenting
the property in a clean and fresh manner.
If your house is squeaky clean, you will be able to sell it faster
and net more in the process. If you are planning on moving, why
not get rid of that old junk now so that your house will appear
larger? Make more space.
Odors must be eliminated, especially if you have dogs, cats, or
young children in diapers, or if you are a smoker. You may not notice
the smell, but the buyers do! If you employ an agent to get the
most amount of money for you, please don't take offense if he or
she suggests ways to eliminate problem odors.
Paint and Carpet
Nothing improves a property more than fresh paint and clean broadloom.
Paint makes the whole house smell clean and look crisp, If your
house has chipped paint, exposed wood, or the paint looks faded…repaint.
If your carpet is worn, dirty or outdated, or an unusual colour,
you may need to seriously consider replacing it. Don't think that
buyers have more money than you have to replace carpet. They don't.
They simply buy elsewhere. Remember that painting is the least
expensive renovation to your home considering it covers over 90%
of your home!
Also:
· Oil squeaky doors
· Tighten door knobs
· Replace burned out lights
· Clean and repair windows
· Touch up any chipped paint
· Repair cracked plaster
· Repair leaking taps and toilets
· Seals around tubs and sink in good repair
When your house is being shown…
· Be absent
· Turn on all lights
· Light fireplace
· Open drapes (if during the day)
· Pets absent or contained
Please be advised that valuable objects such as art, vases, jewellery
etc. are out of reach and out of sight.
Please REMEMBER:
The best way to increase the net proceeds from your sale is to
minimize your costs. For example, the commissions charged by real
estate agents vary greatly but the market value of your property
is a constant. So don't neglect to shop for the best value when
looking for professional services.
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