Be Objective

Taking an objective view about selling your house is sometimes difficult. Most home sellers feel that their house is better than any other house in the neighborhood. While at times this may be true, you must realize that each potential buyer and buyer's agent may view it differently.

It is very important to understand that there are many factors that form a buyer's decision to purchase. Trends, market conditions, location, size, amenities and the number of properties available in your neighborhood all have a significant effect.

In reviewing location you will need to consider such items as traffic patterns, convenience, type of neighborhood, as well as geographical factors such flood plains.

While you can't control many of the above factors, there are two that you can control; your home's condition and the asking price. Both are very relative to each other. When setting the asking price you must understand that the sale price is set by conditions in the market and that your home must be viewed as the best value in the price range to attract buyers. If after 10 to 12 showings you have not received an offer, it's time to review feedback and possibly consider a price reduction.

Disassociate Yourself

If you will be selling your house, you must come to terms with the fact that it will no longer be yours. That means that all of your sweat equity and monetary investment may not mean as much to the buyer as it does to you. In other words, the buyer may not place the same value on upgrades and replacements as you have.

For example, if you replace your overhead garage doors, does this add any value? Possibly, but as a buyer expects overhead garage doors to be there it probably won't add any real value. The same can be said for replacing or upgrading many other items in the house. While many items may be nice features and selling points, they made not add much in the way of real value when it comes to making a sale.

Determining Fair Market Value (The CMA)

The CMA

Before setting the asking price for your house it is important to know the competition. The competition includes not only property currently for sale in your area, but it also includes property that has recently sold. Changing market conditions will also need to be considered before setting the asking price. I'll complete a market analysis (CMA) for you.

Finding the Balance

Finding the proper balance between marketing time, desired profits and a realistic sale price is important. Different market conditions will often dictate a different approach to setting an asking price. For that reason, a CMA becomes very important. Your goal is to establish a balance between selling your house quickly and selling at the top of your market.

I will recommend a price at which to list your house to meet your goals in the local market.