The two most important considerations when selling real estate are price and exposure.
Wisely pricing a property, with all the necessary information and facts to support the price, is essential for success. If a property is overpriced, it will take longer to sell, it will have fewer showings, and an over-priced property will help sell other properties! A buyer is more likely to make an offer on a home that is priced right before making an offer on a home that is priced too high. In these hard times when the market has been affected by the impact of foreclosures, it makes good sense to ensure that your house is priced appropriately. Contact me for a market analysis of your home – it is easy and free, or for any other information that will be helpful to you.
A realtor will do a Comparative Market Analysis of the properties in the seller’s area. This will include looking at properties currently for sale, those that are pending sale, and those that have closed in the past six months. From this review, a realtor will be able to determine which properties were correctly priced at market value. By comparing the seller’s property to those with similar features, a realtor will be able to guide the seller in setting a price that will result in more showings and offers – offers from “qualified” buyers who have been pre-qualified by a mortgage lender! A market analysis also allows the realtor to evaluate the seller’s mortgage balance to determine if the seller is in a position to sell at the current market. After an offer and acceptance, the property must be able to meet a bank’s rigorous appraisal process that is based on market values in the property’s area. An over-priced property will not be successful in its appraisal by the bank.
Marketing power is a critical element for a seller to reach the largest group of ready buyers. “For Sale By Owner” properties compete with the marketing power of properties being sold by realtors. Through the Multiple Listing Service, Internet services, relocation services, other forms of advertising, well-developed networks, and lead and referral lists, realtors are able to reach a larger group of qualified buyers in less time than By Owner sellers, introducing these buyers to their listed properties first before By Owner sellers are able to reach them. Is it not in your best interests to be first in reaching potential qualified buyers?
Once again, experienced, professional State licensed real estate agents devote many hours to training and educational programs that emphasize risk reduction and protecting clients’ interests.
Interested in listing your property for sale? Please contact me and set up an appointment regarding your free market analysis.