Before, any discussion, on what assists, in selling a house, it is essential, to understand, it generally comes down to determining the right price/ pricing a house, to sell! Many factors, may determine, what that should be, but, far too often, the public sees only the listing price, and fails to realize/ consider, very often, there may be a significant different, between, listing, and selling prices! In addition, several factors, largely, influence, what the end – result, may be, including, factors, such as: exact location/ area; how it compares to other houses, for sale; homeowner’s needs, perceptions, feelings; how it is shown; and, how it’s marketed, to the public, etc. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 4 keys, in this process. After, more than 15 years, as a Licensed Real Estate Salesperson, in the State of New York, these are discussions, I often have.
1. Professional knowledge/ expertise, and the quality of a professionally designed, Competitive Market Analysis (CMA): Perhaps, the principle advantage of hiring a real estate professional, is, taking advantage of his professional knowledge, and expertise, in order to achieve one’s goals, etc! Every neighborhood/ area/ region, etc, has its specific, often – unique, characteristics, which may influence pricing, etc. The best approach, therefore, is taking, full – advantage, of a professionally designed, Competitive Market Analysis, or CMA. When this is done, it takes into consideration, factors, such as: present competition (on the market); tracking differences between Listing Prices, and Time on Market; comparison between listing, and selling prices; Expired Listings; etc. It means, there should, then, be a correlation made, which takes as much relevant, current information/ trends, etc, as possible, and recommend, a range, for the original price, to list a house.
2. Determine niche: Many houses, should appeal, to specific niches, perhaps, because of location, pricing, specific features, specific street (advantages), number/ type of rooms/ bedrooms/ bathrooms, style of house, and lot features, etc. If a home fits into one of these, a wise agent, will tailor his marketing, accordingly!
3. Price to sell, from the start: Perhaps, the biggest error, homeowners make, is believing, if they ask more, they will end – up, with a better selling price. While, perhaps, occasionally, it may be so, more often, the wisest course, is to price a properly, right, from the start! Numerous studies, and, analyses, indicate, sellers get their highest offers, in most cases, in the first three, to four weeks, so, doesn’t it make sense, to set your price, accordingly, to attract quality, real buyers?
4. Best marketing plan, for specific property: Selling houses, is, rarely, one – size – fits – all, so, the best, most relevant, customized, marketing plan, should be used, and thoroughly discussed, from the onset.
Since, for most people, their home, represents, their single – biggest, financial asset, when, the time comes, when it makes sense, to sell one’s house, take advantage of the time – tested, principles, and, hire a quality, real estate professional! Make the stressful transaction period, go, as smoothly, and beneficially, as possible!