There are six basic elements in selling your home that will influence the success of
its sale.
PRICE
Pricing a property realistically is the single most important factor in selling a home
Creates buyer interest and activity
The first thirty days are critical; when there is no activity, price is most often the
problem.
CONDITION
After pricing, condition and appearance of a property are the most important factors in
attracting buyers.
A good first impression of a house and property (curb appeal) to prospective buyers is
critical.
An appealing interior is important
Practical steps can be taken to make a home look it’s best
FINANCING
Whether a prospective buyer can or will purchase a particular home is often dependent
on financing. Especially in a mortgage market with high interest rates or tight money, the
attractiveness of a property will be enhanced by a seller’s:
Ability to offer financing assistance (assumable mortgage, payment of closing costs or
discount points).
Willingness to accept non-conventional financing (VA, FHA).
COMPETITION
Knowledge of other similar houses currently on the market is significant. It assists
the seller in:
Determining price
Deciding what needs to be done to make a house more competitive in terms of condition
and or financing.
Negotiating with prospective buyers
MARKET CONDITIONS
The number of potential buyers is strongly affected by market conditions. What is the
current status of:
Mortgage interest rates
Housing supply and demand
MARKET STRATEGY PLAN
The effectiveness of the marketing plan is a crucial factor
It’s development and implementation is the agent’s responsibility. The
selection of an agent, however, should depend on the agent’s reputation and
the proposed market strategy. Call us at 773-430-3000 to discuss our proposed market strategy.
WHICH OF THESE ELEMENTS CAN YOU CONTROL?
The condition of the home and the listing price are the elements you can control. These
elements can also be changed during the time the house is on the market.
Offering financial incentives is also an option you may want to consider. This may
warrant consideration especially in a "buyers market".
The marketing strategy is the agent’s responsibility. But remember, you decide
which agent you will list with and therefore, which plan will represent you. If there is
dissatisfaction with the way that the agent is proceeding, discuss your objections.
The market conditions and the competition are of course beyond your control. It is best
to put these issues aside and concentrate your efforts on pricing, presentation, market
strategy and if necessary, financial incentives.
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