Why some listings expire?
5 FACTORS FOR SUCCESS
MAINTAINING SALEABILTY IS CRITICAL FOR SUCCESS
- Price – Without proper pricing, a property will take a longer time to achieve a sale and will yield substantially less dollars.
• Location – The area will heavily affect the amount of $$$ you can hope to receive.Buyers first look at price, then by the neighborhood . Curb Appeal says “Come see the inside – it looks as great as the outside”!
• Property Condition – Property with curb appeal, fresh paint, updated features and fixtures, “staged” for visual interest and mechanically-structurally in good repair will sell faster and at a higher price.Repairs must be made – no one wants your problems.• De-Clutter! Buyers cannot see past your piles of stuff or toys. Store in basement or attic.• ‘So clean it sparkles’ – kitchens,bathrooms, floors must be clean • Fresh neutral paint and colors go a long way to increase your ability to sell at top dollar.
Front walk & steps in good shape – Flowers; plantings; landscaping
• Rooms must be staged to visually appeal to buyers • Update fixtures, flooring, kitchens and bathrooms to yield more $$$.
• Market Conditions – The economic factors of ‘Supply and Demand’ will frame the buying and selling environment. That will make a huge difference.
The market means everything!
A “Seller’s Market” means – Low level of property for sale in certain areas or price ranges.– Large pool of buyers looking for property in that area or price range.
A “Buyer’s Market” means– High level of property for sale in certain areas or price ranges.– Small pool of buyers looking for property in that area or price range.
• Terms – Sales can be structured in many ways so that buyers can buy. Offers can include incentives, additional buyer agent compensationand a wide variety of buyer closing costs – it doesn’t matter how the offer is structured, the only thing that matters is what you will get to settle your expenses i.e. SALE ! How offers are structured can make the difference between ‘No Sale’and SOLD!
Selling Price versus Timing
Timing is very important.The graph shows the importance of a realistic price from the beginning.A property attracts the most excitement and interest when it is first listed and has the highest chances of a sale when it is new on the market As the triangle graph shows,more buyers purchase at market value than above.The percentage of buyers increases even more when the price drops below market value.If you set your asking price AT or Above market value, you are reaching less than 30% of the buyers and you are limiting your chances for a successful sale.
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.
Get the Right Real Estate Consultant.Would you like some REAL Help? Jimmy Singh has solid real estate sales experience, an excellent reputation and proven systems to take you from Sale to SOLD!
Call Jimmy Today for a Free 1 Hr-No Obligation Consultation.
905-575-5478 (Hamilton Area) 905-639-5258 (Burlington )
