Critical Elements of a Sale
The Drawbacks of an Overpriced Property
Trying a Price for a Couple of Weeks
First Impressions Are Important
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Critical Elements of a Sale
1. Asking Price
Depending upon market conditions, it is the starting point from which to
negotiate the actual price of a home. The actual market value is determined
by what a buyer is willing to pay.
2. Property Location
The second most important factor in the buyer's mind is location. The
proximity to area amenities and schools is typically a concern. In addition,
street traffic, access to expressways and public transportation are considerations.
3. Property Condition
The structural and mechanical integrity, as well as the upkeep and cosmetic
appeal of a property affect a home price. Neutral decor, including floor and
wall coverings, appliances and fixtures, offer the broadest appeal to buyers.
4. Market Conditions
Interest rates, competition, the economy and consumer confidence all
influence the sale of a home. Each factor plays an important role in the
ultimate sale price of a home.
5. Contract Terms
The terms of a purchase can make or break the contract. House sale
contingencies, closing dates and inclusion of accessories or fixtures should
be handled clearly and up front in order to avoid any confusion.
Pricing Study
The Drawbacks of an Overpriced Property
Asking Price vs. Percentage of buyers that view the Property
Most sellers think that an overpriced property simply can be reduced if it doesn't sell. The danger
with this is that by the time the property is finally reduced to its market value, it may have been
on the market so long that buyers perceive it to be a tainted property.
Buyers then question how long the home has been on the market and why it hasn't sold. Their
offer to purchase, based on that knowledge, may be below its actual value
As real estate agents, we use market research to arrive at a price that is realistic and fair to the
seller and attractive to buyers. This process takes into account factors which include location,
condition, market history and current activity.
Trying a Price for a Couple of Weeks
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.
First Impressions Are Important
The Approach
The first few seconds of a showing can literally make or break a sale. Make certain that the
first things to come into view are neat and attractive.
The Entry
The front entry area and door should be warm and inviting. The area should be swept clean,
and the door in good repair (painted, if necessary). A seasonally decorative touch can set
the proper inviting tone.
The View
Windows should be sparkling clean in order to maximize the light entering the home and to
provide an inviting scene from the exterior. Keep curtains and drapes open whenever possible
to achieve a bright, open affect.
The Surroundings
Spruce up, paint up, touch up faded or worn paint or papers on the walls and ceilings. this
can create a drab effect through the interior and will leave an impression in the buyer's mind
that is hard to erase.
The Furnishings
A cluttered look makes every room seem smaller than it really is. remove extra furnishings
wherever possible to give your home a clean, simple appearance.
First Impressions Are Important
Storage
One of the first things a typical buyer looks for is adequate closet and storage space.
maximize the size of your closets by removing excess items and neatly arranging those
items that remain.
Bathrooms and Kitchen
These areas should be clean and spotless. No matter how relaxed the buyers my be in their
present home, they will invariably downgrade the desirability of a home if the kitchen
and baths are less than spotless. Make sure everything shines!
Fix The Little Things
Loose door knobs, doors that don't close all the way, screens off the track, and cracked
window panes are all a part of everyday life except when you're selling your house. little things
undone can suggest neglect to a fussy buyer. For top dollar, it's smart to fix these items
Shed Light on Dark Areas
Whenever possible, make sure the lights are turned on in areas of the house that appear dark.
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