What Truly Sells A Home?

 I went on a listing appointment this week and realized that this is a topic needed in today’s market since there are so many buyers yet there are still homes just sitting without offers on the market and the clients informed us that another agent gave them a price that was way over market value for their home. So let’s take a few moments and determine what truly sells a home.

I realize this may be a little hard to swallow since so many areas we have heard location, location, location. Location does not sell your home, it makes your home more desirable since it is where people want to live but location alone is not the answer to what sells a home.

Does Staging sell a home?

 While staging is nice and will help buyers feel comfortable in your home, it will help your home show better than a neighbor’s home that is also on the market it still won’t sell your home if your home is overpriced. If your home is priced competitively it will sell your home since yours will show better than the competition.

Will open houses sell a home?

Some feel having an open house will sell their home but yet again many times an open house will not bring you a qualified buyer, it does however bring a lot of neighbors who have never had the opportunity or invitation to enter your home; it does bring in others from your community who are thinking about listing their home and want to see their competition and it many bring someone who would like to if they can qualify write and offer to purchase your home, but this does not guarantee a sale from an open house.

Does advertising & the web sell a home?

Though advertising brings lots of attention and the internet is a great tool since so many buyers are using it for their home searches to look for homes if the property is advertised at a price above the market value it will only help to sell other advertised homes.

Please do not take me wrong all forms of marketing and prepping your home for sale will indeed sell a correctly priced home. Pricing a home under market value is just as bad as over pricing a home so lets take a look at what truly sells a home.

Pricing it Right Sells homes quickly and effectively. following is a quick run down on how this is done.

When an offer is made on a home an appraisal is completed to validate the price and homes value. Agents have the tools to perform a competitive market analysis also known as a CMA. This determines a starting point for the listing price of your home, so when the appraisal is done it will hopefully show the price is consistent with what the lender of the buyer is willing to loan. Many times homes are listed higher than the comps in the area are showing and the home sits on the market leaving the agent and the seller frustrated so be sure the agent you work with is honest enough to show you the true value of the comps in your area. Knowing how to make the needed adjustments to the properties being compared is vital in determining the correct listing price in order to bring in qualified buyers that will indeed write offers on your home.

Your CMA should include recent homes that have closed that are similar to your home in age, square footage, number of bedrooms and baths, and lot size; Pending sales are also vital to your home pricing since they are going to adjust the comps if they close before your home does that the appraiser will use in determining the home’s value. Homes that are currently on the market should also be included since these will show you what your competition is.

If you would like to find out the current value of your home feel free to contact me and I will gladly free of charge meet with you and help you see where your home value is . If you are not in my area of northern California I can have an agent in your area contact you for what is happening in your community.

I look forward to meeting the needs of those that would like;

Tami Merriam

BRE# 01936304         
High Ground Real Estate
Tami.Merriam@gmail.com

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