The "Big Six" Home Selling Factors
I frequently have sellers contact me in regard to what more can be done to get their home sold. I like to relate that question to baking a cake. There are several ingredients you need to make a good cake. When we combine all those ingredients in the bowl, mix it up, and put it in oven to bake we get a great cake.
Similarly, there are things that must be done when trying to sell a home. We have to use the right ingredients. As a REALTOR, I must run a comparable market analysis of your home in order to price it correctly. We need to know what your competition is and what sold in the last 6 months. I must then market your home to 48 different sites and upload your home to our MLS. The price, the terms, and the condition of the home MUST be excellent, in order to compete, which is the sellers "ingredients". Then, we need to let the cake bake. It takes a certain amount of days to turn a home here in the greater tyler area. Currently it's 81 days. That is the time it will take to "bake your cake" or sell your home. The market controls timing and competition. You, the seller, control 3 out of the 6 "Home Selling Factors." The market controls 2 of the 6 and your REALTOR controls 1 of the 6. Just like baking a cake it takes all of these ingredients to sell a home effectively. It's not just one of these ingredients that sells a home, but rather all of these ingredients mixed together to get the job done!
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If you are planning to buy or sell in the greater Tyler area please don't hesitate to call Kerissa Payne & Associates at 903.520.7733 or email us at Kerissa@KerissaPayne.com We specialize in Lindale and Hideaway Lake! Let our team of experienced professionals go to work for you!
Although they can be stated in different ways there are only six factors that affect the sale of a home.
It is important for you, as the seller, to understand who or what has control over them and how they impact on each other.
- You control 3 of the 6
- The Market controls 2 of the 6
- Your REALTOR® controls 1 of the 6
YOU Control
1. Price - You determine list price for your home. However, a list price above the market for homes similar to yours will impact negatively on buyer interest in making an offer. Your REALTOR® will review price history with you to assist you in making a list price determination.
2. Terms - Buyers have requirements just as sellers do. Your willingness to respect them and be willing to negotiate which terms will be acceptable to both parties can have a very positive impact. Price and Terms will usually be negotiated at the same time.
3. Condition - How well you have maintained the home will influence both your price and length of time to sell. The pool of buyers who are willing to make major repairs is much smaller than the pool of buyers who want a home that has been well maintained.THE MARKET Controls
4. Timing - Economic conditions operate independently of price, terms and property condition. Similarly, seasons and weather factors can affect the time it takes to sell a home.
5. Competition - The number of homes on the market most certainly bears heavily on your ability to sell your home on a timely basis.YOUR REALTOR® Controls
6. Promotion - From entry into the Multiple Listing System, to internet marketing and any other programs your agent will have an impact on your home sale.CONCLUSION
No one of the six factors alone controls the timely sale of your home. Your agent should provide you withYour willingness or ability to make adjustments in price, terms or condition based on the information provided will be the final determinant as to how quickly your home will sell.
- Feedback from prospects who have visited your home
- Changes in market conditions
+++++++++++++++++++ My Team has 35 years experience in Woodbridge, Dumfries, Manassas, Bristow, Gainesville, Haymarket Prince William County
”Experience Isn’t Expensive – It’s PRICELESS”
If you plan to buy or sell a Woodbridge or other Prince William County home or property contact Karen and Art by Email or call us at 703-690-6569. Put our record of customer service, real estate experience and state-of-the-art technology to work for you in Alexandria, Arlington County, Fairfax County, Prince William County, Stafford County or the entire Northern Virginia Area.
Popular Prince William County subdivisions to consider are Eagles Pointe,
Wellington,
River Falls,
Saratoga Hunt,
Winding Creek,
Lake Ridge,
Westridge,
Old Bridge Estates,
Brittany,
Montclair,
Ashland,
Port Potomac,
Potomac Club,
Rollingwood Village,
Lake Terrapin,
Lake Side and
Meadowbrook Woods
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