All buyers do not have the same priorities when it comes to purchasing a new home. Factors like number of bedrooms, proximity to public transportation, outdoor space or school district rating may be of great importance to some but not to others. However, regardless of the specific priorities of each buyer, there are three factors which affect most purchases. If sellers can influence these factors in a positive way, they are likely to sell more quickly and/or get a better price.
Location Most serious buyers want to purchase in a specific area and they generally will not consider a home outside their location of choice. This means that sellers have little influence on a buyer’s preferred location. A house in a very desirable area will usually sell more quickly than average. A house that is close to high tension towers, busy streets, a cemetery or some other negative factor will take longer to sell. Since the location of a house is fixed, sellers who own a property in a less than ideal area must compensate for this by making the other two factors extra attractive to buyers.
Price The value of a house is determined by the current real estate market. The original purchase price or the cost of any improvements or additions does not necessarily impact actual market value. Your realtor is invaluable in helping you to determine an appropriate listing price. Sellers almost always overestimate the value of their home, while buyers always want to feel they are getting a “bargain”. Realtors use data on homes which have sold recently to determine a realistic market value. If your home offers more desirable features than the competition, it will probably sell for a higher price. If your home lacks key features that most buyers want or needs several repairs, you may need to accept a lower than average price in order to encourage an offer. Buyers ignore homes that are overpriced and realtors often hesitate to show them.
Appearance There is no doubt that the appearance of a home – both outside and inside – influences the number of buyers who want to see it … and ultimately, how quickly the house sells. Over 90% of today’s buyers preview homes online before deciding which ones they want to actually visit. Except in a very “hot” market, they avoid homes that do not show well online. What’s more, they expect the homes to look just as appealing in person. The appearance of a home can absolutely be changed by the seller. An attractive home that shows well is likely to sell more quickly and for a better price. Motivated sellers can seek the advice of a professional home stager if they want to ensure that their home shows at its very best.