By Noel Peebles
Co-Author For Sale By Owner Home Selling Secrets ebook.
We’ve all heard it said, “The most important
thing in
any real estate sale is LOCATION, LOCATION, LOCATION!”
For years real estate agents have been peddling that
line.
However, whilst location is important, it is only one
of
5 important ingredients, when mixed together, can make
the perfect real estate sale. Here's what's needed:
Ingredient 1. Location
There is no disputing that the location and setting
of your
home will influences its value. Buyers are generally
looking
for convenience, privacy and comfortable living. A home
in
a quiet private cul-de-sac will usually sell for more
than
an identical home on a busy street. A home in a remote
area
is likely to be less convenient, so typically will sell
for
less than a similar home in a close-in area. A location
with
views and trees will usually enhance the value of a
property.
In short; location can help, or hinder, a real estate
sale so is an important ingredient in the sales mix.
But there is a catch. Location is something that can't
be
changed by anyone in the real estate sale and negotiation
process. So, contrary to popular belief, location is
not
necessarily the "most" important ingredient
in the sale mix.
Ingredient 2. Condition
Given the choice, most buyers would opt for a brand
new
property in top condition. That's why new homes enjoy
a
marketing edge over most resale homes. And builders
enhance
the appeal by offering model homes that are clean, bright,
tastefully decorated in modern colors and with the latest
in amenities.
Needless to say, the condition of a property is an
important
ingredient in any real estate sale. With this in mind;
a seller with an existing home has really only two choices:
They can raise the condition of their property to meet
their
asking price. Or, they can lower their price to meet
the
condition of their property.
Ingredient 3. Pricing
A seller will need to convince both a buyer and an
appraiser
of the value of your property. The buyer will be more
subjective
and will compare the amenities of your home to those
of other
homes in the same price range. The appraiser will be
more
objective and will compare size, age and cost-identifiable
features in your home against other properties that
have
already sold.
So, your home must be priced within the appropriate
range.
If similar houses are selling between $200,000 to $220,000
price range, it does no good to insist on selling at
$270,000.
Ingredient 4. Marketing
You can have the best house on the market, but buyers
still
need to know about it. They also need to know why the
property
is worth buying. What benefits will the buyer enjoy?
Whether selling on your own or through an agent, effective
marketing is an essential ingredient in any successful
real
estate sale. Effective marketing can make a home stand
out
from every other property in town.
Ingredient 5. A Motivated Buyer and Seller
There's an old saying "It takes two to tango"
and this is
particularly true with a real estate sale. Finalizing
any
deal requires the right balance:
- a motivated buyer = increased offer price
- an unmotivated buyer = reduced offer price
- a motivated seller = reduced asking price
- an unmotivated seller = increased asking price
The best deal is usually a WIN/WIN for both parties.
Bring together a motivated buyer with a motivated seller
and a deal is always on the cards. The likely outcome:
the property will sell for close to its true market
value.
So, when you think about it; selling your home is a
bit like
baking a cake. It takes the right ingredients, mixed
together
in the right proportions and with the right amount of
care and
attention. Do that and you have the makings of a perfect
real
estate sale.
© Noel Peebles, Market Leaders ebooks.
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Noel Peebles is author of the best selling ebook
"173 Powerful Ideas, Tips, Tactics And Proven-To-Work
Strategies To Sell Your Own Home."
For details http://www.forsalebyownerguide.com
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