Key Market Factors
HOW LONG DOES IT TAKE TO SELL A HOME?
There is no easy answer – some homes sell in a few days, others may take several months. Recognizing the key factors influencing a sale can give you significant control over market time. The proper balance of the following factors will expedite your sale:
Location is the single greatest factor affecting value.
Neighborhood desirability is fundamental to a property’s fair market value.
Buyers compare your property against competing properties.
Buyers interpret value based on available properties.
The real estate market may reflect a seller’s market or a buyer’s market.
Market conditions cannot be manipulated; an individually tailored marketing plan must be developed accordingly.
Property condition affects price and speed of sale.
Optimizing physical appearances and advance preparation for marketing maximizes value.
The more flexible the financing, the broader the market, the quicker the sale and the higher the price.
Terms structured to meet your objectives are important to successful marketing.
If the property is not properly priced, a sale may be delayed or even prevented.
Maximum One® Realty’s Comprehensive Market Analysis will assist you in determining the best possible price.
Chances are your home will sell at fair market value. Pricing your home realistically at the outset will increase the likelihood of a timely sale, with fewer inconveniences and greater overall monetary return.
Buyers educate themselves by viewing many homes. They know what is a fair price. If your home is not in competitive value with those they have seen, it will not sell. Buyers typically look at homes within a $10,000 price range. When your home is not priced within the correct range, it will not be receive optimal exposure or targeted buyers.
Overpricing causes most homes to remain on the market too long. Buyers, aware of a long exposure period, are often hesitant to make an offer because they fear “something is wrong” with the house. Often homes which are on the market for a long time eventually sell for less than fair market value.
If overpricing keeps your home from selling promptly, you can end up owning two homes or lose your chance at home you wish to purchase. This can prove costly and inconvenient.
80% of the marketing of your home is complete when your home iscorrectly priced.
If you are unwilling to list your home at, or just below the current market value, you are better served not putting your home on the market at all.