Category: Selling Real Estate
Obviously, when a homeowner hires a real estate professional, with the objective of marketing his home, his priorities include, selling the house, for the highest possible price, in the shortest period of time, with the most favorable terms, and a minimum of hassle, etc. As a Real Estate Licensed Salesperson, in the State of New York, for over a decade, I have decided, effectively marketing a home, and getting the best, possible response, requires implementation, and use of a quality, reliable system. Therefore, this article will attempt to briefly review and examine, 7 steps, to effectively marketing s home.
Let's begin this article, by agreeing, no two homeowners, considering selling their homes, are exactly the same, nor necessarily possess precisely the same motives and reasons. However, it might be helpful, if we realized, most homeowners find the process of selling their houses, and relocating, to be a somewhat tense, emotional, stressful period. Perhaps, identifying the four major reasons people sell, and looking at their objectives/ goals, might be a beneficial one, because it will help create more empathetic real estate agents, who focus not only on the technical aspects of the transaction, including marketing, promotion, etc, but on the client's needs, concerns, and priorities, as well. Here are 4 main objectives, it has been found, most home sellers, possess.
No matter how much we love our homes, sometimes it's right to move on. It might be that they cost too much to maintain, or that they're no longer in the right location. We could need a bigger home, or it might have come time to downsize. Whatever our reasons, all of us find ourselves on the housing market from time to time. Over the years, we've seen countless home buyers and home sellers, and though we're not involved in the buying and selling game, we've accumulated a great deal of knowledge about the housing market. Indeed, one of the most common questions we're asked regards what actually determines the value of their property on the open market?
After more than a decade, as a Licensed Real Estate Salesperson, in the State of New York, I have witnessed nearly every scenario, behavior, etc. However, perhaps the most important, as it relates to homeowners, desiring to sell their homes, is determining the listing price, and understanding the reasoning and reasons, behind a variety of listing price/ pricing strategies. However, before we proceed with this discussion, let's discuss one of the biggest stumbling blocks, which many homeowners, impose on themselves. It's amazing how many times I've heard a homeowner explain why they wish to price their house higher than what the competitive analysis of the market, might indicate to be the wise course. This explanation is often, they want to use a higher listing price, so they will get a better price for the house. If, only it was so easy!
A contract for deed (aka land contract) is a method of selling a property in which the seller finances some portion of the purchase price. The buyer typically provides a down payment and makes installment payments directly to the seller for an agreed period of time. The length of a contract for deed varies but a 2-5 year period is most common, after which a “balloon payment” for the remainder of the balance is due. The payments are usually determined by using an amortization period of 30 years.
The best way to tell if your area is in a buyer's or seller's market is to check the average number of days homes are on the market before selling. When this number rises above 60 days, it's definitely a buyer's market. That means it's a great time to be a buyer, but not such a great time to be a home seller. Another method is to look at the number of months' supply of homes for sale at the current sales pace. Just divide the number of local homes sold during the last 30 days into the number of homes listed for sale. If the result is more than a six-month supply of homes, the oversupply of listed homes shows it's a buyer's market.