Factors That Affect Your
In our report "Common
Pricing Errors" we discuss some of the factors that do not affect a properties
market value. Let's take a look at the things that do.
The Home Itself
Obviously one of the key factors in your home's value is
the home itself. It's style (some are more popular with buyers than others), it's age,
it's size, and the amenities that it offers relative to other available properties all
play a part in affecting your home's value.
The Condition of Your Home
All buyers will take into account the condition of your
property when they determine if they want to buy it, and how much they'd be willing to
pay. It goes without saying that a home in immaculate condition has a much higher
potential for a top dollar sale than one that is lacking the most basic routine
Every area has its high end and its low end. The market
value of your property is affected by that reality. People that purchase homes in
"lower end" areas expect to pay less than they would if they bought the same
home in a "higher end" neighborhood.
Ultimately, you are limited by the current competition that is on the market at
the same time as your home. Prudent buyers will not pay more for your house than they'd
have to pay for other similar homes.
Current Market Conditions
If your market is currently flooded with similar properties for sale and real
estate buyers are scarce, you can expect to sell your home for less than you would if
there was a shortage of supply and lots of eager potential homebuyers.
In this very diverse business, there are all kinds of sales
agents. Like most industries, some are not very good at their work, some are just average,
and some are exceptional. The marketing plan that your agent executes on your behalf will
determine the amount of interest that is shown in your property from the outset. Your
agent's level of skill and expertise in the negotiating process will affect the amount of
money you'll be able to get for the home. Many people put more thought into what they'll
have for dinner tonight than who they will trust to market their most valuable asset.
Don't you make the same mistake!
Your bottom line will be affected by the level of
cooperation that you give in terms of preparing the home for showing and making it
accessible to buyers and their agents.