Factors That Determine How Quickly Your Home Will Be Sold And What It Will Sell For!
Written by Gene Checora, Broker/Owner of Genner Realty Limited
PRICE: Setting a price on your home that is realistic is very important. If priced too high, it is a great selling tool for the better values in your neighbourhood. Realtors will show your home first so they can demonstrate the better value that is competing with your property. This creates many lost opportunities to sell your home. If your price is too low, then you are getting a quick sale, however you are leaving thousands of dollars in additional equity that rightfully belongs to you. The right price makes you competitive with other homes being offered for sale and it ultimately gets you the most money! Listing with the highest bidder can be a shortcut to repeated requests for price reducttions and utimately a lower selling price than what was realistic when you listed your home.
TERMS: Terms are those extra things that are in favor of the buyer which motivates them to put your property on the short list of homes they are considering. Typical terms that are in favor of getting your home SOLD are things like: Assumable Financing, Flexible Possession, Seller Financing, Accepting Trades or being open to accepting an offer Conditional On The Sale of the buyer's property. Terms are extremely important in a Buyer's Market and less important in a Seller's Market.
CONDITION: The condition of your home will determine whether you will get top market price or bottom market price for your home. A home in premium condition will command the best market price because the buyers cannot find anything which will give them an excuse to discount your listed price. If your home is anything less than good condition, you can expect to receive offers which account for deficiencies the buyer can readily see. Your best selling strategy is to check the condition of your home inside and out before selling and correct any deficiency which will impact your selling price.
LOCATION: The location of your home is a major factor in how soon it will sell and for how much money it will sell for! If your home is in a quite Crescent or Cul-De-Sac and it backs onto a park or ravine, then you can expect to receive a top market price for your home. If it backs onto a major road or is across the street from a major shopping centre, then you can expect that it will take longer to sell and the price being offered will reflect on your location. There are many variables that fall between the two extremes mentioned here. Contact Gene Checora for more on this topic.
AGENT CHOICE: Choosing the right Agent/Broker to market your home is likely the most important factor in getting your home sold quickly and getting top market dollar. The right Agent/Broker will understand all of the factors mentioned here and it is his/her job to evaluate these factors in helping you determine the right price for your home. Don't make the mistake of choosing an Agent or Broker based on the volume of his/her sales. What's important to you is, will he/she have the time to devote to the sale of your home and does he/she have the experience to take charge of your biggest asset! Always ask the question: Will I be dealing with you or an someone else? An Assistant or Team means that it's most likely you'll be handed off to someone other than the person that is trying to list your home.The answer should readily help in your decision.
Note: Some of the factors mentioned above will be affected by market conditions. Is the market a Seller's Market, a Buyer's Market or a Balanced Market? For more on these conditions, contact the writer, Gene Checora on the contact page or call 780 459-6957.