Happy Columbus Day to those of us residing in the USA. If you are lucky enough to have the day off from work, enjoy your day, and thanks to all for checking in with us.
When you are selling Real Estate, whether it be your own home, or, the home of a client, it is important to take various factors into consideration, such as price, condition, and location.
In regards to price, you will want to look at the most recent closed sales in your area (and the data must be less than six months old). You want to confirm that your price is right, no pun intended. As Chris Griffith recommends in her story, "Reevaluate your real estate to sell this season", on the Naples News website, you should also ask your real estate agent (or the agent you’re interviewing) to "list your real estate for an absorption rate", and that you'll want to check how much "inventory your home is competing with neighborhood wide or even in your home’s price range" (this should be checked periodically for any changes/adjustments).
When it comes down to condition, the old adage of "you never get a second chance at a first impression" holds true here. As Griffith says, "There is little opportunity for a second chance to get them back through the door once they’ve been turned off by something negative", and calls it a "a downright shame" if it was a correctable negative condition like cleanliness or neatness that was toxic to your potential buyer. One interesting point Griffith makes is that sometimes, "homeowners are a little too close to the forest to see the trees", and need to take a long and hard look (or get a second opinion) about their home, the cleanliness, etc.
Location, Location, Location. We've all heard that before when discussing Real Estate. Griffith suggests that you, "Compare apples to apples and be prepared to adjust the price to correct the differences", and provides the following example; "two nearly identical homes, one on a lake and one backing up to a sound wall next Interstate 75, sport very different values". Location "can influence buyers positively or negatively", adds Griffith.
These 3 factors are a huge component of your potential sale. Can you think of anything additional? Perhaps the demeanor of the homeowner or the agent? The weather during an open house?
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Have a Great Week, and Happy Rent-to-Owning !
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TAGS: #sellingRealEstate #absorptionrate #inventory #closedsales #price #condition #location