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WORKING WITH ELMS LANE
Understanding the Buyer
As the seller, you can control three factors that will affect the sale of your home:
* The home’s condition
* Asking price
* Marketing strategy
However, it’s important to note that there are numerous other factors that influence a buyer, and you need to understand these consumer trends when you enter the sellers’ market. The more your home matches these qualifications, the more competitive it will be in the marketplace. Our agents can advise you on how to best position and market your home to overcome any perceived downsides.
Unfortunately, the most influential factor in determining your home’s appeal to buyers is something you can’t control: its location. According to the National Association of REALTORS(r), neighborhood quality is the No. 1 reason buyers choose certain homes. The second most influential factor is commute times to work and school.
While some buyers want to simplify their lives and downsize to a smaller home, home sizes in general have continued to increase over the decades, nearly doubling in size since the 1950s.
Preferences in floor plans and amenities go in and out of fashion, and your real estate agent can inform you of the “hot ticket” items that are selling homes in your market. If your home lacks certain features, you can renovate to increase its appeal, but be forewarned: That’s not always the right move. Using market conditions and activity in your neighborhood as a gauge, your agent can help you determine whether the investment is likely to help or hinder your profit margin and time on the market.
Pricing Your Home
The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit and how long your home will sit on the market. Your real estate agent’s knowledge of the overall market and what’s selling – or not selling – will be invaluable in helping you determine the price. The objective is to find a price that the market will bear but won’t leave money on the table.
Here are some points to consider:
Time. Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity (read: fair market value).
Value vs. Cost. Pricing your home to sell in a timely fashion requires some objectivity. It’s important that you not confuse value with cost – in other words, how much you value your home versus what buyers are willing to pay for it. Don’t place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.
Keep it simple. Because time is of the essence, make it easy for the buyers. Remain flexible on when your agent can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.
Home Seller Tools
“Kim was a Godsend for me! I highly recommend her. Kim has a “Can Do” attitude, is very professional, and gave me great advice. She handled the entire process and kept me informed along the way. I’m so happy I choose Kim to sell my home and to recommend her to anyone.”
“Working with Kim was a fantastic experience! Throughout the process of listing our home Kim was responsive, professional, and incredibly knowledgeable of the local market. We were able to get our home listed and received an offer within just a few weeks of reaching out!”
CHAPEL HILL, NC
“Kim helped us sell a condo in Chapel Hill even though we are living out of state. That meant that she had to manage not only the listing and sales process, but had to take care of many repair and maintenance requirements for us, up to and including the purchase and receipt of a new replacement refrigerator and the management of various contractors. Not only was her advice and input accurate on every matter that arose (including the listing price) but she was clear, responsive, efficient, well-organized and totally reliable. We could not recommend her more highly. She is committed to exceptional service and she delivers it. She is also a very nice person.”
“Kim is efficient, professional and very approachable. She has high integrity and goes above and beyond to assist her client. I highly recommend her and I will contact her again when I am ready to sell or buy properties.“