| How to Sell a House | | | | loosing it's effectiveness as savvy |
| When you consider the cost of selling a | | | | buyers these days prefer to use internet |
| house is typically 10 - 20% of the | | | | technology to spend alot less time |
| asking price using traditional sale | | | | viewing more homes which suit their |
| methods it is immediately apparent that | | | | buying criteria. As there are a number |
| care should be given to this process. | | | | of ways to maximize this marketing |
| Selling costs are typically made up of a | | | | component it is worth giving serious |
| cash buyer's discount 5-10% Cost of | | | | consideration to. |
| money to hold till settlement 2-5% , | | | | 5. The terms you are willing to |
| agents commission 2-3%, home holding | | | | sell the house on. |
| costs of insurances maintanence etc 1%. | | | | This can vary from 10% deposit 90% cash |
| It is no wonder people trying to figure | | | | in 28 days, to some cash now and some |
| out how to sell a house consider a | | | | cash later, to pay my mortgage now & |
| private sale in an attempt to abort | | | | give me my equity in cash later. The |
| these costs. There is some merit in this | | | | terms a vendor is willing to offer will |
| approach but you may be able to do | | | | significantly vary the achieved profit |
| better than a traditional private sale. | | | | from the sale. |
| Here are some factors to consider in how | | | | 6. The length of time your home is |
| to sell your house for a good price; | | | | on the market. |
| 1. How desperate you are to sell | | | | The longer the house is on the market |
| it. The time frame you need to sell in | | | | the the greater the number of potential |
| Do you need to sell your house by next | | | | buyers your advertising has to reach, |
| week as the bank is foreclosing or if in | | | | however another negative factor of |
| 12 months time you havn't sold it then | | | | scepticism comes in to play and that is |
| no matter as you'll just delay that | | | | "If this house hasn't sold in this time |
| holiday a bit. This is an indicator of | | | | period what is wrong with it?"This one |
| how motivated you are to sell. | | | | is a balancing act & will vary |
| 2. How hot the market is ie | | | | according to local. |
| booming, recovering, flat, falling. | | | | 7. Your surrounding environment. |
| Speed of a sale is in direct proportion | | | | People like to live in certain locals |
| to the existing market. In a boom any | | | | for reasons of affordability, proximity |
| bit of rubbish will sell in a flash for | | | | of services, proximity to life style, |
| top dollar, and in a falling market the | | | | social class. ethnic origins, religious |
| only thing that will sell is a dead set | | | | beliefs. These factors are of varying |
| bargain | | | | importance for individuals. Identifying |
| 3. Level of desireability of the | | | | these is useful for targeting marketing. |
| home ie it's location (view, facilities | | | | 8. The perceived affordability |
| near by) House construction type, | | | | benefit of buying as opposed to renting. |
| Appearance internal & | | | | When the attention on the nation is on |
| external(architectural features,quality | | | | interest rate rises & it's guessing |
| of finishes, appliances, etc) | | | | game of ramifications buyer enthusiasm |
| Desireability level varies from the bull | | | | is certainly dampened for large sections |
| doze, undesireable, renovator, | | | | of the populations [especially low to |
| acceptable to some people, me to homes, | | | | middle income bracket]. If your home is |
| desireable to most people, to craved by | | | | one of the "me to"houses then this talk |
| all. [all these free reports given away | | | | will certainly lower the competition and |
| by agents on"what to fix up to sell your | | | | hence achieveable price now. |
| home" are just telling people to get | | | | Your particular house will be affected |
| their homes from "acceptable to some" to | | | | by all these factors to varying degree. |
| "me-to" level of desireability]. | | | | Your job is to decide how best to |
| 4. Number of potential buyers | | | | process these to maximize your sale |
| exposed to your home | | | | price. |
| The more people exposed to your home | | | | When you personally consider "How to |
| & your sale terms obviously the | | | | sell a House" you may also wish to think |
| greater probability it is that some | | | | about a personalized solution that a |
| buyer will like your offering. Local | | | | professional real estate buyer can |
| newspapers have been effective in this | | | | afford you, Price is just one factor, |
| regard for some number of years now as | | | | the stress of beat down offers, forced |
| they keep putting the advertisement | | | | to move at a specific contracted time |
| under the local community nose each | | | | not when you are ready are important |
| week, week in & week out. With | | | | factors which you will appreciate if you |
| computer technology this method is | | | | have sold real estate before. |