The ONLY 6 Home Selling Facts

 

No matter how you say it, there are only 6 factors that affect the sale of a home. As the Seller, it's important for you to understand who has control over them and how they impact each other.

• YOU control 3 of the 6
• THE MARKET controls 2 of the 6
• YOUR REALTOR®  controls 1 of the 6

YOU Control                                                

1. Price - With the help of your Agent, You determine the asking price of your home. However, be advised that an asking price above market (too high) will deter buyers who might otherwise make an offer. Refer to the data that Your REALTOR® provides on price history before settling on an asking price.

2. Terms - Just like You, Buyers have requirements too. Make it a win-win situation by showing the Buyer your willingness to respect them and negotiate terms that can be acceptable to both parties. Price and Terms will usually be negotiated at the same time.

3. Condition - The condition of your home, inside and out, will greatly influence your price and length of time to sell. Remember, the pool of buyers willing to make major repairs is much smaller than the pool of buyers who want a home that has been well maintained.

THE MARKET Controls

4. Timing - Economic conditions operate independently of price, terms and property condition. Similarly, seasons and weather factors can affect the time it takes to sell a home.

5. Competition - The number of homes on the market most certainly bears heavily on your ability to sell your home on a timely basis.

YOUR REALTOR® Controls

6. Promotion - From the time that your home is entered into the local Multiple Listing System (MLS), to internet marketing and any other programs, your agent will have an impact on your home sale.

 

CONCLUSION

No one of the six factors alone controls the timely sale of your home. Your agent should provide you with:

• Feedback from prospects who have visited your home
• Changes in market conditions

Your willingness or ability to make adjustments in price, terms or condition based on the information provided will be the final determinant as to how quickly your home will sell.