Sellers How to Sell Your House and Keep Profit For You!

Are you thinking about selling your house? Timing is extremely important in the real estate market. A property attracts the most activity from the real estate community and potential buyers when it is first listed. It has the greatest opportunity to sell when it is new on the market.

Market value is the value of your house as seen through the eyes of a prospective buyer who has many properties to choose from. A Comparative Market Analysis (“CMA”) is essential to determining value. A REALTOR® is the professional that can provide you a CMA.

The market analysis (CMA) has many element. Location is one of the most important elements. Characteristics of the property are another. Similar properties for sale in your area are considered and recent sales of comparable properties are also included.

A Local REALTOR® is your best source of information for analyzing the market and determining the asking price for your property. The agents goal is to list at a price that will attract a willing and able buyer, in a reasonable amount of time, at the best possible price. The price should not exceed market value by more than 5%. If overpriced, potential buyers may not even make an offer. Overpriced houses quickly become “stale” with buyers and their agents.

Things to keep in mind about pricing:

• Realistic pricing will achieve maximum price in a reasonable time.
• Houses that remain on the market for a long time do not get shown.
• A house that is priced right from the beginning achieves the highest total net income.
• Your profit desire is virtually irrelevant – the market determines the price.
• The cost of the improvements is almost always more than their added value.

The Market is rapidly changing so seeking advice and guidance from a Real Estate Agent is critical if your goal is to make the most money off the sale of your property. To sum it up, remember that there are five major factors that affect market value. This includes: Price and condition of the property, Supply and demand, Seasonal markets, Mortgage rates and Location, Location, Location!