There are 5 factors that affect your home sale, whether yours is a Castro condo, a Bernal Heights home or a Noe Valley Victorian. They are Location, Financing, Condition, Price and Exposure.
Location = Where your home is located. The block, the neighborhood, the position on the lot, etc. Obviously, this cannot be changed and is out of everyone’s control but does affect market value.
Financing = The current state of the mortgage and lending markets. What type of financing is available and what types of buyers will qualify. Again, out of everyone’s control but also does affect market value.
Condition = How your home shows. Is it staged, de-cluttered, sparking clean? Are you living there or is it vacant and pristine? Have you done the repairs and fix-ups suggested by your agent? Is it freshly painted? This is within your control and will affect your home’s value.
Price = How is it priced? Is it priced below market value to generate buyer interest and distinguish it from the other homes it is competing with? Is it “Best in Class?” Or, is it priced at or above market value? Do buyers and Realtors perceive it to be over-priced & are sitting on the sidelines until you do a reduction? Again, this is within your control and will affect your sales price.
Exposure = Believe it or not, this is the only aspect controlled by the Realtor! Of course, we give a lot advice and input on the Condition and Price but, ultimately, it’s your house and your decisions. Exposure is the marketing. Is it on the Internet with lots of great, professional photos? Is it easy to show? Is it being promoted to the agents who have the buyers for your type of property? Are the statements pretty, descriptive and memorable? Do they have photos? Is there a sign on the property? Does the MLS listing look attractive and compelling?
Please read today’s Chronicle article about selling in today’s San Francisco real estate market. In summary, homes that are priced competitively and show great are selling quickly while over-priced ones or ones that don’t show well are sitting on the market and sometimes, never selling!
It’s a quick, interesting read. See PDF. File Attachment: Chron Real Estate Article.pdf (58 KB)