In my 30+ years in the real estate industry, that is the question I am asked most often. However, if you are thinking about selling your home, the question you should be asking yourself is not, “how much is my home worth” but, “how much will my home sell for?”
The answer to that question is dependent on many factors. Several of these factors are, for the most part, “fixed” and not easily changeable; like location, size and functionality. Other factors are more easily changeable and well within the sellers control (should they choose to do something about them); like the homes condition and quality of its fixtures.
On the other hand, a factor which is completely out of the seller’s control, is the local real estate market itself. Whether the market is good or bad definitely has an impact. But, the fact remains, the market “is what it is.” Understanding what type of market you are selling in and adopting the appropriate “selling strategy” for that market, are extremely important in determining the ultimate sales price of your home.
Another extremely important factor in determining what your home will sell for, is its “overall attractiveness” to potential buyers; which the seller has complete control over. As I stated previously, the seller has control over the condition of their home. They also control the price the home will be offered at to the market. Additionally, the seller controls the exposure of the home to potential buyers. You may be saying to yourself, “but the seller isn’t responsible for the marketing the home and exposing it to potential buyers; that’s the job of real estate company.” True, but, it is the seller who has the freedom to hire whichever real estate company they choose. Therefore, it is in their control.
It is in this last choice by the seller, which may prove to have the greatest impact on what your home sells for. Hiring the “right” real estate company is paramount to realizing the highest price for your home. Sure a “good” real estate company, will advise you to “de-clutter”, take photos, place your home on MLS and feature your home in the local newspaper (they may even showcase your home in this fine publication). But, a “great” real estate company will do much more than that. Amongst other things, they will advise you on how best to “enhance” the condition of the home; they may even hire an interior designer. They will have your home professionally photographed; no amateurs. They will also, ensure that your home receives “total market exposure” by implementing a comprehensive marketing strategy with breadth and depth. In so doing, they will reach potential buyers, locally, national and globally as well.
In summary, no real estate company can make a buyer pay more for your home then they are willing to spend. But, if they are a “great’ real estate company, help you increase your homes overall attractiveness, resulting in an increased amount of buyers who want to purchase your home, they just may be able to get a buyer to pay more than they would have wanted to. This is how you obtain the highest possible sales price for your home!
To learn more about “how much your home will sell for” please contact your local real estate agent or anyone of the real estate professionals who advertise in HomeFolio Magazine.
- Greg Boudreau: Make Your Clients Remember You - August 6, 2013
- The Definitive Responsibility of Your Agent Is to Create the Market for Your Home - April 25, 2013
- The San Ramon Valley Real Estate Market: Still Hot- With No Bubble in Sight! - March 20, 2013