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In order to get the highest
price in the shortest time, you need to know how to market
your home. The better you market your home, the more offers
you will get. And the more offers you get, the more choices
you have to get the price and terms you want.
The most important factor of marketing your home is pricing
it right. Your price should be adjusted to reflect the
market, and the property's worth. The key is to get many
people checking out your property at a fair price instead
of having no buyers because your price is set to high.
You will be competing with resale homes like yours as
well as newly constructed homes. Not only should you be
familiar with the asking prices of competitive homes,
more importantly you need to know what homes sold for
and how long they were on the market. Be careful not to
use acquisition costs, cost of maintenance and improvements,
an equity appraisal, friends, relatives, neighbors opinion,
or "what you need" as the basis for pricing.
Get a professional opinion from a real estate agent who
will provide a Comparative Market Analysis (CMA) that
evaluates the market and suggests an appropriate pricing
strategy.
Another important factor is the condition of your home.
Make sure that your home looks ready to be sold. Fix any
defects (peeling or faded paint, cracks, stains, etc.)
Condition alone can sometimes prompt fast buying decisions.
Not only should you fix any defects, but consider upgrading
your home by making major repairs and cosmetic improvements
before selling. A nice looking home triggers the emotional
response that can lead to a financial response.
Learn how to negotiate the best terms for all parties
involved. Terms are another factor which may be adjusted
to attract buyers. If you insist on getting your asking
price, think of what you can offer to the buyers, for
example, improvements you've made, or even offering seller
financing at a lower than market interest rate on a portion
of the sale price. Convince them why they should be paying
the price you have set.
Lastly, get the buzz out about your home. List your house
with a hot agent that ensures your house is listed on
the MLS and on the Internet. On your own, get the word
out. It should be visible to passerby’s that your
house if for sale, whether it be signs, local advertisements
or you telling friends, family, and acquaintances.
Price Comparison
Request a Price Comparison |
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