Real Estate Pricing Factors

Real Estate Pricing Factors

When you're ready to price your house for sale, you have tons of stuff to think about. When you need to move. What you're going to do when the house sells. How a sale affects family, work, etc. It's good business to talk with an agent about pricing, specifically about:

1. Availability - it doesn't make a lot of sense to put your house up for sale and make prospective buyers jump through hoops if they want to look at it. They won't buy if they can't look. So let your agent put a lockbox on and be ready to show your house at the drop of a hat.

2. The competition - know what else is for sale. Not just in your immediate neighborhood but in the greater community. Buyers have choices and a smart seller knows what they are.

3. Timing – how quickly you need to sell your home makes a big difference. If you need to be in another part of the country in 30 days, then price it accordingly.

4. The condition of your home - beautiful, move-in ready homes are very appealing, particularly to buyers who have been looking at trashed properties.

5. Terms - Are you flexible with closing date? If somebody is looking for a home that is move-in ready that they can purchase quickly, that may be a selling feature for you. If you are willing to offer a lease-purchase, that may be attractive to a buyer who wants your house but either has some credit issues to clean up or a down payment to beef up.

6. Warranty - Buyers often ask for seller to pay for a home warranty. Offer it. It's a good idea to have a home warranty on the home at the time it's listed - the warranty will transfer once a sale happens.

7. Amenities - What's particularly cool about your place may be appealing to a prospective buyer too. Maybe it is your floorplan, your spa, your neighborhood, your greenbelt. Amenities affect marketibility.

8. Lot size, trees, views, privacy, etc. - Location, location, location. Did I mention location? If you are fortunate enough to have a great location going for you, market it for all its worth.

Summing it up: Four things affect the sale of a house. They are price, marketing, condition and location. There's an art to this stuff. Want to talk about it?