Every month there are reported sales of 1000 houses sold through MLS in the Orlando, Kissimmee & St. Cloud areas. With over 25,000 homes listed one might ask what makes one house sell faster than another. Or for those sellers who are more astute, how do I get to become one of the lucky people who will sell their house next month?

The answer is very simple.  There are 3 factors that will dictate IF and WHEN a person's house will sell.

  • LOCATION
  • PRICE
  • CONDITION

As the old saying goes, it's all about LOCATION, LOCATION and LOCATION!!!  Depending if your house is in a particular sub-division or sometimes if it is NOT in a sub-division might make your house more desirable.  How close the house might be to shopping, schools, the airport, theme parks and major roadways are all factors which could play a role in the sale of your house.

PRICING your house is probably the most important thing to get right the very first time because if your house is overpriced there is a good chance your will receive LITTLE or NO showings.  What most people don't understand is the average consumer is more educated today.  With so much inventory around, educated buyers are not willing to spend more money on comparable housing then is necessary.  In other words if a buyer is given a choice between 5 comparable houses which have similar amenities and they have a wide range of prices, the buyers will most probably ask to see those houses in the lowest tier.  Why would anybody buy a house for $30,000 or $40,000 more than they have to?  Would you?  After all, the houses are similar.  So price is the motivating factor which gets buyers into your house. It causes traffic in a listing.  If your house is overpriced the odds are that the listing will not get its share of viewings. If nobody comes to view the house for sale it will be IMPOSSIBLE to sell.

It is CONDITION that sells a house.  When buyers walk into a house, typically one of them will say that this is exactly what they were looking for.  The condition of the house plays on the emotions of the buyers which will ultimately lead to an offer.  Buyers start visualizing where they will put their furniture, or how they will decorate.  So make sure the house is clean and tidy so buyers find it easier making a visual transition. 

 

3 Comments on It's All About, Location, Pricing & Condition

I like to use positioning vs. pricing....as positioning your home in that vast marketplace is the true key to finding your buyer.

11/09/2007 10:00 AM by Drew Riley (Spa Realty, Inc Team Riley)


Price.  It's always price.

Price within that location.

Price within that location with consideration for condition.

It's always price.

 

11/09/2007 10:02 AM by Lenn Harley, Homefinders.com, MD & VA Real Estate


Everyone wants a bargain no matter how nice a home is, though exceptions exist.  You run into that all too scarce buyer who says, 'This is the perfect house for me. How soon can you get me into it?'  Money isn't even the primary factor when there is a great fit between a buyer and a property.  Also, people relocating need a place and are less likely in some instances to haggle, or haggle a bit less than a local. Subject to these observations I agree with your initial post.  Thanks for bringing up the topic and have a great weekend!

11/09/2007 10:52 AM by Keith Stoller (San Joaquin Bookkeeping & Tax Services)


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Real Estate Brokerage: Flat Fee Realty
Richard Carpentieri Broker ABR e-PRO
Orlando, FL
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