Thursday, November 13, 2014

Location, Location, Location ~ No More

There have been way too many movies that really stress that selling a house is all about location, location, location.  Let me be the first to tell you that is true no more!

There are still 3 things that determine the sell-ability of a home, but it is now location, price and condition.

Location is still important to a buyer and always will be.  There are certain reason that a buyer will choose a location and it is unique to each buyer.  This could be because of work, school, church, family, taxes, etc.  Most buyers are wanting to be close to something.

Price of course factors in because a buyer only has so much buying power.  They have hopefully already spoken with a lender who has qualified them for a certain amount for the purchase of their new home.  They may or may not be working with a real estate professional that is helping to guide them as well.  Thanks to technology, buyers are starting their searches online and will start their search with the price.

Condition is the third factor.  In the past when there was an abundance of inventory.  Sometimes the condition of the home was the only thing that set properties apart that were similar in structure.  Now that the market has changed, condition is what is really going to draw a buyer to your property.  Buyers still think that it's a buyer's market and they want the champagne house on the beer budget.  We are teaching them little by little though.  A great real estate professional will showcase these assets in the property description and pictures, letting the buyer know exactly what your house has to offer.

So knowing these 3 things are what really drives a buyer, you can use these to your advantage when marketing to buyers.

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