Think Like A Buyer
As a seller, your goal is to sell your home in the soonest possible time at the most favorable price. To achieve this, there are many factors involved. Some of these factors like the home’s condition, asking price and marketing strategy are factors that you can control. However there are some other things that influence a buyer’s decision in buying a house.
When you enter the market, you need to understand most buyers’ wants and needs if you want to be succesful. Competition is tough so you need to know what your buyers want. Your real estate agent can guide you on how you could effectively sell your house despite some flaws.
- Location – This is one of the primary considerations that buyers have and unfortunately, is one thing you can’t control. According to the National Association of REALTORS(r), neighborhood quality is the number 1 reason buyers have for choosing a home. It is followed by commute times to work and school.
- Size – Home sizes have continuously increased since the 1950’s. The market for smaller homes are often limited to new home owners, couples without children, or families with grown children who no longer live with them.
- Amenities – There are certain floor plans and amenities that become outdated as time goes by. Your real estate agent can inform you of current design preferences in the market. You can opt to renovate to increase profit and marketability. But don’t do this without consulting your agent. They can advise if it’s a wise investment based on the market condition and several other factors.