As the seller, you can control these three main factors that will affect the sale of your home:
The home’s condition – Most of us don’t keep our homes in “showroom” condition, but is important to show your home in the clearest light as possible. A home with too much personality (i.e. family pictures) is harder to sell.
Asking price – Setting a fair asking price from the outset will generate the most activity from other real estate agents and buyers. You will need to take into account the condition of your home, what comparable homes in your neighborhood are selling for, and state of the overall market in your area.
Marketing strategy – There are many ways to get the word out, including: The Internet, Yard signs, Open houses, Media advertising, Agent-to-agent referrals and Direct mail marketing campaigns. In addition to listing your home on the MLS, your agent will use a combination of these tactics to bring the most qualified buyers to your home.
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.
Unfortunately, the most influential factor in determining your home’s appeal to buyers is something you can’t control, which is its location. According to the National Association of REALTORS, neighborhood quality is the No. 1 reason buyers choose certain homes. The second most influential factor is commute times to work and school. According to a 2014 survey, younger buyers placed a high importance on commuting costs, while older buyers placed higher importance on landscaping for energy conservation and environmentally friendly community features. Whereas, potential home buyers with school aged children place more importance on schools.
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. Smaller homes typically appeal to first-time home buyers and “empty nesters,” or couples whose children have grown up and moved out. Whereas, the larger homes appeal to families and multigenerational families.
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. For example, one of the most important amenities is modern, up-to-date kitchen and baths. Using market conditions and activity in your neighborhood as a gauge, your agent can help you determine whether the lack of the current amenities is likely to help or hinder your profit margin and time on the market.
Thinking of buying or selling real estate?
You should consider using a realtor. If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty at 2119 W Brandon Blvd, Brandon, Florida 33511). As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota. The Keller Williams offices of ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico. My email address is firstname.lastname@example.org, or call me at 813.205.9280. If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link.