How Does Condition Affect Price
PRICE AND CONDITION DETERMINE IF IT SELLS !
True or false? Once you have chosen an agent to represent you in the sale of your home, and have signed a listing, you should get out of the way and let the agent find a buyer. False. Selling a home quickly and at the best possible price requires involvement by the owners as well as the agent in the selling process. The sellers’ responsibilities fall into areas:
- providing a home that is fairly priced with attractive terms, and
- providing a home in marketable condion.
- allow your home to be easily shown.
The AGENT is responsible for preparing and implementing a marketing plan which will attract suitable buyers to the home resulting in an acceptable transaction for the sellers.
Pricing is important because most buyers comparison shop before making their purchase decision. As a result, they eliminate homes which are priced above “fair market value”. The agent can provide details of recent sales in the local market, as well as pricing of similar homes currently for sale. This data can be used by the sellers to arrive at a price which reflects the value offered by their home.
Home Value is the sum of money that one can exchange ones house for without waiting a large amount of time. Providing an attractive home in marketable condition is critical to a successful sale. No matter how effective the marketing plan, buyers expect to purchase a home in excellent condition. By performing an objective wa1k-through inspection of the home, the agent can provide the sellers with a list of possible improvements. It is then up to the sellers to see that the home presents a positive first impression. With the sellers participation, the agent will create an extensive and imaginative marketing plan. This plan will target groups of buyers most likely to purchase the home. Advertising and promotion will be placed to attract their attention. The home is thus positioned to appeal to the widest possible segment of purchasers. The home owner has the duty of pricing the home correctly after listening to agents input.
Secondly, the home owner has the duty to make sure his home is in presentable condition. Thirdly, the home owner must allow the agent to show the home as easily as possible. A lock box is best so that if any agent who is driving by with a looker who instantly falls in love with the front of your house can immediately see the inside. A looker has to see the inside before he will make an offer. He may be out of town tomorrow.The next time you sell your home, plan to work in partnership with your agent. The results can be an emotionally and financially satisfying home selling experience.
by Steve Myers
All articles are for educational purposes only and are not meant as tax or legal advice! See a CPA for tax advice or an attorney for legal advice, or any other appropriate professional for the sector!
