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Do You Know The Most Important Factors That Will Get Your Home Sold?

Posted by Sherry Rioux on January 28, 2008
| 3 Comments

In my experience, there are seven key factors that affect the sale of a property.  Some are controlled by the listing salesperson, some by the seller and some by nobody at all.

These are the Factors That Nobody Controls:

Location:  It is what it is.  Generally, a house on a busy road or abutting something like a commercial centre, a gravel pit or a landfill will be harder to sell than a house in the woods or one with a view.

Market Conditions:  Is it a Buyers or a Sellers market? Things like economic jitters, plant closings or rising interest rates all take their toll on the market while good news such as a strong performing economy, new industry or lowered interest rates can all contribute to more market activity.  When conditions are tough, you need to have patience and consider price adjustments.

The Factors That You Control:

The Condition of your Property:  You are competing for a buyers attention with many other homes, including brand new model homes that have been professionally prepared for display.  Prepare your home for sale by fixing, tidying and cleaning and, consider hiring a professional stager as well.  I’d also add that the ease of access is important too!  Be prepared for showings at all times.

The Price:  This is the single most important factor that will affect the sale of your property.  If it is priced too high, it will languish on the market and chances are, it will end up selling below its market value because of that.  If it is priced too low, you risk leaving dollars on the table, although, there is also a good chance that competing offers will appear thereby driving up the price to its true market value.

The REALTOR® you choose to represent you:  Every agent you meet will be anxious to sell your property but that is not enough.  You need to consider many factors such as their experience, their track record and success rate, their sales-to-listing ratio, their ability to complete a comprehensive market analysis, their experience in contract preparations and negotiations, their availability and their marketing plan.  Choosing the company and the sales person are not as simple as looking in the yellow pages or online.  You should interview the people who will partner with you in dealing with what may well be your largest single financial asset. Here is a list of 30 questions to ask in interviews.

The Factors That I Control:

The Marketing Plan:  Today, most home buyers search for a home on the internet.  The days of newsprint advertising are over and among other things, marketing your home must involve a solid internet based strategy.  Ask for a written, step-by-step marketing plan and be sure it includes a reporting of the results achieved for each action.  Ultimately, you are in control and so, you must know what the market is saying, right?

The Negotiations:  There is a secret to successful negotiations.  Actually there are two.  Be sure to ask me what they are when we meet!

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are.

3 thoughts on “Do You Know The Most Important Factors That Will Get Your Home Sold?

  • on January 29, 2008

    Hey Marg,

    Great post.

    As I sit reading your blog, the rain is pouring from the skies.(thankfully melting all the snow) I can’t help but re-read the title of this post “Important Factors That Will Get Your Home Sold?”
    Should you add in another factor we can’t control….the weather. Can’t see there being high amounts of volume today eh?
    Do you find the weather effects the market in your area?

    Have a super day!

    Stephen Winters

  • Marg
    on January 29, 2008

    Being in a resort area that relies on weather, yes, it sure does affect our market but only from day to day of course. Is rain at this time of year normal for you in St. John’s? Thanks for stopping by the blog.

  • on January 30, 2008

    In Newfoundland, ANYTHING is possible with regards to weather.
    It was minus -11 degrees 2 days ago with a wind chill of -26. Today it’s a nice 4 degrees above.

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