“A turtle cannot move forward unless it sticks its head out” – anonymous
Although they can be stated in different ways, there are only six factors that affect the sale of a home, according to blogger Karen Kruschka.
The Sales Associate with RE/MAX Olympic Realty in Manassas, Va., wrote an Active Rain blog post detailing the “Big 6,” as she calls them. These factors are controlled by three main entities: the seller, the agent and the market.
Sharing the blog with your own clients and educating them on their role in the process gives you a perfect entry point to demonstrate your value as a trusted advisor – especially when they’re deciding on listing price and terms.
Here’s an edited excerpt of Kruschka’s post:
1. Price – You determine list price for your home. However, a list price above the market for homes similar to yours will negatively impact buyer interest in making an offer. Your Realtor will review price history with you to assist you in making a list price determination.
2. Terms – Buyers have requirements just as sellers do. Your willingness to respect them and be willing to negotiate which terms will be acceptable to both parties can have a very positive impact. Price and terms will usually be negotiated at the same time.
3. Condition – How well you have maintained the home will influence both your price and the length of time it will take to sell. The pool of buyers who are willing to make major repairs is much smaller than the pool of buyers who want a home that has been well maintained.
THE MARKET Controls
4. Timing – Economic conditions operate independently of price, terms and property condition. Similarly, seasons and weather factors can affect the time it takes to sell a home. 5. Competition – The number of homes on the market most certainly bears heavily on your ability to sell your home on a timely basis.
6. Promotion – From entry into the Multiple Listing Service to Internet marketing and any other programs, your agent will have an impact on your home sale.
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