You will usually get the most money for your property early in the marketing process. When the house is fresh on the market, the largest number of potential buyers will come to see it, which means that competition among those buyers will be at its peak.
The longer the property sits on the market, the more “stale” it becomes. Fewer people come to see it, they make less attractive offers, and ultimately you get less for the property than if it were priced correctly in the first place.
If you have a million-dollar-plus house, or one that is unique in some distinctive way, pricing is even more important, because the pool of potential buyers is smaller. We will help you choose a listing price that is best for your house in the current market.
Factors that affect the value of your home in today’s market
Location:
- Location is the single most important factor in determining the value of your home.
Competition:
- Prospective buyers compare your property to competing properties.
- Buyers will perceive value based on properties that have sold or are available in the area.
Timing:
- Property values are affected by the state of the current real estate market.
- As the market cannot be altered by individual sales, a flexible marketing plan should be developed that takes into account current market conditions and the particular features of the property.
Condition:
- The condition of the property affects the price and speed of the sale.
- Prospective buyers often make purchases based on emotion, so first impressions are very important.
- When your house looks its best, buyers’ perception of its value will be maximized.
Price:
- Pricing your home properly from the beginning is an important factor in determining how long it will take to sell.