There are many factors that affect the sale of a home. However, the seller is only able to control three of these factors:
Factors that Affect the Sale of a Home that a Seller Can Control
* The home’s condition
* Asking price
* Marketing strategy
However, it’s important to note that there are numerous other factors that influence a buyer. Furthermore, it’s important that understand consumer trends when you enter into a sellers’ market. The more your home matches these qualifications, the more competitive it will be in the marketplace. Your real estate agent will advise you on how to best position and market your home.
Factors that Affect the Sale of a Home that a Seller Cannot Control
The home’s location is the most influential factor in determining a home’s appeal to a buyer and it is something that a seller can’t control. According to the National Association of REALTORS, neighborhood quality is the top reason buyers choose certain homes. The second most influential factor is commute times to work and school.
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. Home sizes have nearly doubled in size since the 1950s. Smaller homes typically appeal to first-time home buyers and “empty nesters”, Whereas, homes with more bedrooms and larger yards typically appeal to “move up” buyers with growing families.
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 buyers are willing to pay more for. If your home lacks certain features, you can renovate to increase its appeal. However, that may not always be the right move. An experienced real estate agent will help you determine whether the investment is likely to help or hinder your profit margin and time on the market.