The Three Most Important Factors To Selling Your Home
The three most important factors to selling your home are price, location and marketing. You also have to take into account competition and condition.
Prices in our area have been in a state of flux over the past several years. Of course everyone knows the oil spill disaster and mortgage crisis created the most recent extreme variance in pricing. This sudden price drop comes as a shock to the area, considering the steady rise in prices starting in ’05, when homeowners were forced to relocate following several hurricanes.
But things are starting to level off. And soon, if the local economists are correct about the resurgence of the oilfield economy and new developments along the river, we could actually begin to see a “tick up” in pricing.
That aside, what you don’t want to do is try to look into the crystal ball and price your home according to some future projection. If you want to sell your home, set the price in accordance with what the real estate market is doing in our area now. Those are the figures you need to deal with.
The second factor that comes into play when selling your home is the age ole real estate mantra, location, location, location. Given two homes that are comparable in every way, the home with the superior location will probably sell first. And will probably sell closest to its listing price.
Keep this in mind when setting the sales price for your home. If your home does not have the superior location, consider lowering the price a little, or offer some other kind of incentive (help with closing cost, etc.) to give your home the added edge to sell.
Finally marketing, the third piece to the sales puzzle. Of all of the factors involved in selling a home, marketing has probably shown the most evolution. It has become a skill and art-form in its own right.
Marketing use to only involve a sign in the yard, a newspaper ad, and the occasional open house most Realtors try to do. Today, with the advent of the internet and especially online video and social media, that has all changed.
Your marketing plan must be carefully laid out to generate the most interest and activity. More and more perspective buyers are searching online first, before they ever even ride through a neighborhood.
Marketing should include the traditional yard sign. But now that sign also has “QR codes” and text links so people can find out more about the home when they ride by. Most Realtors still use newspaper advertising, but the greatest activity is generated from online exposure. With that in mind, make sure you have a good short video of your home and you distribute it to as many online video sites and social media sites as you can.