Sellers and Buyers Concerns in real estate
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Seller Understanding Buyers
As the seller, you can control
three factors that will affect the
sale of your home:
* The home's condition
* Asking price
* Marketing strategy
However, it's important to note that
there are numerous other factors
that influence a buyer, and you need
to understand these consumer trends
when you enter the sellers' market.
The more your home matches these
qualifications, the more competitive
it will be in the marketplace. Your
real estate agent can advise you on
how to best position and market your
home to overcome any perceived
downsides.
Location
Unfortunately, the most influential
factor in determining your home's
appeal to buyers is something you
can't control: its location.
According to the National
Association of REALTORS(r),
neighborhood quality is the No. 1
reason buyers choose certain homes.
The second most influential factor
is commute times to work and school.
Size
While some buyers want to simplify
their lives and downsize to a
smaller home, home sizes in general
have continued to increase over the
decades, nearly doubling in size
since the 1950s. Smaller homes
typically appeal to first-time home
buyers and "empty nesters," or
couples whose children have grown up
and moved out.
Amenities
Preferences in floor plans and
amenities go in and out of fashion,
and your real estate agent can
inform you of the "hot ticket" items
that are selling homes in your
market. If your home lacks certain
features, you can renovate to
increase its appeal, but be
forewarned: That's not always the
right move. Using market conditions
and activity in your neighborhood as
a gauge, your agent can help you
determine whether the investment is
likely to help or hinder your profit
margin and time on the market.
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