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Monday, October 23, 2017

Home Seller Tips: Your Price reflects this...and Not this....

I received feedback on one of my listings recently and it was very short.... “needs too much updating.”  While I do not necessarily agree with this assessment I understand something which is much more important.

This person has an unrealistic expectation for properties in this price range.

A home's price is a reflection of multiple factors.

Foremost among these characteristics is its condition.

Beyond condition the price is impacted by the very important, unchangeable characteristic - location.  Who has not heard those words about real estate and location?  It is a simple truth.  You can not change the zip code!

What are some of the other factors impacting a home's price?
  • Seller motivation.  Is one testing the waters or really desirous of selling? 
  • Circumstances.
  • Competition.
Notice the above comments do not include several other factors seller's want considered heavily when deciding a listing price:
  • What was paid plus any maintenance/updates. Buyers expect a home will be taken care of by the seller.  (If not, then the factor is consideration under condition mentioned above). 
  • What the neighbor got for their house (Although its condition, price, date of sale, circumstances, similarities, etc. may be used as a factor with the generation of comparables).
  • Incentives to other real estate agents.  (The incentive should focus on the buyer.)
Here are some related articles about pricing strategies to sell your home:
For information on buying a home in Rockledge, Florida (or Viera), please call or text me at 321-693-3850.

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