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Critical Elements of a Sale The Drawbacks of an Overpriced Property Trying a Price for a Couple of Weeks First Impressions Are Important |
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Critical Elements of a Sale 1. Asking Price Depending upon market conditions, it is the starting point from which to negotiate the actual price of a home. The actual market value is determined by what a buyer is willing to pay. 2. Property Location The second most important factor in the buyer's mind is location. The proximity to area amenities and schools is typically a concern. In addition, street traffic, access to expressways and public transportation are considerations. 3. Property Condition The structural and mechanical integrity, as well as the upkeep and cosmetic appeal of a property affect a home price. Neutral decor, including floor and wall coverings, appliances and fixtures, offer the broadest appeal to buyers. 4. Market Conditions Interest rates, competition, the economy and consumer confidence all influence the sale of a home. Each factor plays an important role in the ultimate sale price of a home. 5. Contract Terms The terms of a purchase can make or break the contract. House sale contingencies, closing dates and inclusion of accessories or fixtures should be handled clearly and up front in order to avoid any confusion. Pricing Study The Drawbacks of an Overpriced Property Asking Price vs. Percentage of buyers that view the Property  Most sellers think that an overpriced property simply can be reduced if it doesn't sell. The danger with this is that by the time the property is finally reduced to its market value, it may have been on the market so long that buyers perceive it to be a tainted property. Buyers then question how long the home has been on the market and why it hasn't sold. Their offer to purchase, based on that knowledge, may be below its actual value As real estate agents, we use market research to arrive at a price that is realistic and fair to the seller and attractive to buyers. This process takes into account factors which include location, condition, market history and current activity. Trying a Price for a Couple of Weeks  Sales agents are constantly on the alert for new properties to show to their active, qualified buyers. As a result, the majority of showings by sales agents on a new listing occurs when the house is first placed on the market. Once this group of agents and buyers has seen the property, showing activity decreases to only those buyers new to the market. Therefore, it is important to position your home at the best price during the first market exposure. First Impressions Are Important The Approach The first few seconds of a showing can literally make or break a sale. Make certain that the first things to come into view are neat and attractive. The Entry The front entry area and door should be warm and inviting. The area should be swept clean, and the door in good repair (painted, if necessary). A seasonally decorative touch can set the proper inviting tone. The View Windows should be sparkling clean in order to maximize the light entering the home and to provide an inviting scene from the exterior. Keep curtains and drapes open whenever possible to achieve a bright, open affect. The Surroundings Spruce up, paint up, touch up faded or worn paint or papers on the walls and ceilings. this can create a drab effect through the interior and will leave an impression in the buyer's mind that is hard to erase. The Furnishings A cluttered look makes every room seem smaller than it really is. remove extra furnishings wherever possible to give your home a clean, simple appearance. First Impressions Are Important Storage One of the first things a typical buyer looks for is adequate closet and storage space. maximize the size of your closets by removing excess items and neatly arranging those items that remain. Bathrooms and Kitchen These areas should be clean and spotless. No matter how relaxed the buyers my be in their present home, they will invariably downgrade the desirability of a home if the kitchen and baths are less than spotless. Make sure everything shines! Fix The Little Things Loose door knobs, doors that don't close all the way, screens off the track, and cracked window panes are all a part of everyday life except when you're selling your house. little things undone can suggest neglect to a fussy buyer. For top dollar, it's smart to fix these items Shed Light on Dark Areas Whenever possible, make sure the lights are turned on in areas of the house that appear dark. |
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The TREO, Realtors website features Cincinnati, Dayton and northern Kentucky real property information obtained from the Cincinnati and Dayton MLS. All real estate data, including featured Cincinnati real estate, homes, Cincinnati and Dayton Open Houses, land and commercial properties are listed as is. Buyer will assume all responsibilities and obtain their own independent verification and inspection of any Cincinnati or Dayton real estate or home listed here before entering into any real estate transaction. Our main office in Cincinnati Ohio is located at 8736 Union Centre Blvd., West Chester, OH 45069 | Tel: (513) 731-8736. TREO, Realtors is a member of Cincinnati Board of REALTORS and the Dayton Board of REALTORS. All TREO Realtor logos where used are © TREO, Realtors All Rights Reserved.