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Positioning your Home to sell

Price, condition and marketing

By Laurie Rutledge

 

e’ve all heard that the three most important things in real estate are location, location and location! While that is true, the location of your home is not something you can change. However, the good news is that there are three other equally important factors: price, condition and marketing. You and your REALTOR© control these factors.

Pricing in today’s market is your first priority. In today’s softening or slowing market the challenge is to “erase” your memories of 15 to 20 percent annual appreciation. It is no longer happening! In fact, in today’s market there is no guarantee that your home is worth what a similar home sold for even one year ago. Sellers who do not want to delay their sale need to adapt to the current practices of pricing. One of the most popular ways is the comparable sale. By looking at homes that have sold in the past 6 to 12 months, your Realtor© can determine a trend price for your home. Do not be lead down the path of overpricing by an agent trying to “buy” your listing by telling you it’s worth more than what they can prove to you by comparable sales. Remember, the goal is to sell the house, not to have your home for sale for many months more than necessary.

The condition of your home will, of course, affect the ultimate selling price. It is no secret that homes in top condition and priced correctly will be the first to sell. Curb appeal and cleanliness are key. Ask your REALTOR© for suggestions and listen to them!

Last, but by no means least, is the marketing of your home. Your home must normally be “marketed” to three groups: buyers, real estate agents and appraisers. Buyers need to be aware that your property is for sale, and the majority of buyers will be guided by an agent who must want to show your home. If the buyer is obtaining a loan, the appraiser working for the lender must then be convinced that it is worth the selling price. This is not a job for an amateur. Any agent can “list” your home, put a sign in the yard and place an ad in the paper. That is not “marketing.” In fact, some discount brokers claim that they offer “full service” to sellers for a discounted fee. In my opinion, the only thing discounted will be the ultimate selling price of the home, and I would love to explain to them what full service and marketing really are! You do get what you pay for.

We’re now in the peak home-selling season. If you’re ready to make a move, choose a great REALTOR© and position your home to sell quickly!

07-01-2006

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