The Fundamentals of Real Estate Selling
The fundamentals of real estate selling are timeless, and to some maybe even boring. Remember 
learning the alphabets, or multiplication tables (do they still do that?) Rote memorization, not very creative, but without the basics would you even be able to read this? In sports, football for example, the basics are blocking and tackling.
If you've ever played sports, done martial arts, or been involved in fine arts, when you first begin, if you have a coach or mentor, they begin with something called the basics or fundamentals. The fundamentals are the building blocks for learning. In sports, you go from the fundamentals, to the more complex aspects of the game.
The fundamentals are the what keep you competitive. Now a trick play may win you some points here or there, but its the fundamentals that keep you winning consistently.
In selling your house the timeless fundamentals are:
- Location-You really can't do anything about this. The house is where it is. If the location is good, that adds value. If its not so good, it could detract from value.
- Condition-Try to repair any deferred maintenance issues before you place the house on the market. This can remove some of the issues to be negotiated in the offer phase. I recommend caution in updating for the sale. Use competing properties to determine if updating is the best use of your money. You will not usually make every dollar spent on upgrades back in the sale. But local conditions will determine if this is true in your situation or not.
- Price- Look at the competition through the eyes of potential buyers. If your house is not head and shoulders better than the competition, don't price to feel the market out. Price it to sell it. Do you want your price or do you want to sell your house? You must choose one, you cannot have both. Seller sets the opening price but the Buyer (or the market) determines market value. The Seller makes the final call-accept the market's value, or keep the property.
In real estate sales- propety condition, marketing, and pricing are fundamentals. Other activities may be involved in getting property sold, but you have to take of the fundamentals to get your property sold.
Now you can get some great marketing done in support of our home selling activities. But if the fundamentals are lacking, you'll just have some nice markeing not supported by the fundamentals. That usually leads to a house remaining on the market longer than it should and eventually getting sold at a price below what was originally asked. Get the fundamentals down and get the house sold.
Looking for a good REALTOR in the San Antonio area? Let me Google that for you.
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Wayne Johnson
18756 Stone Oak Parkway
San Antonio Texas 78258
Coldwell Banker D'Ann Harper Realtors
Texas Real Estate License # 0566780
Wayne-Johnson.com
wjohnson@cbharper.com
210.483.6329 (Tel)
210.483.4729 (Fax)
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