On the Market

What makes one home sell in a few weeks while another may linger on the market for what seems like seasons?
Well, each case is different, but it almost always boils down to one of these four factors.

1. Price – A home that is priced right will attract buyer attention. A fair and reasonable asking price that is in keeping with market demands will pique consumer interest and ultimately make the property more appealing. It’s said that proper pricing accounts for 50% of the sale.

2. Condition – Unless they are searching for an investment property, most buyers are looking for a structurally sound home that has been well-maintained. In addition, a home that “shows well” is likely to sell quicker. This means the home is clean, well-kept, updated and appealing to today’s buyer. Buyer’s, first and foremost, buy with their emotions and their eyes.

3. Location – The better the location, the more likely the property will demand buyer attention. This could mean a single-family home in a charming area of town with great pride of ownership. Or it could mean a wonderful apartment in a great section of the city. Buyer studies indicate that location is of primary concern to the majority of buyers.

4. Market – Whether it is a “buyer’s market” or a “Seller’s market” also influences a property’s market time--how long a property is up for sale before it sells. When the advantage is with the buyers, you may need to make allowances, such as a lower asking price or favorable terms to help your property attract a bid. Your seller agent is your greatest resource during your home sale. He or she can further explain how these factors will influence your particular listing.

Source: Life at Home, Century 21

Blog Archives