Tuesday, June 8, 2010
HOME SELLERS ~ A STUDY OF TODAY'S BUYER
Today’s buyer has their mind full of concerns. Oh yes, it's still a Buyer's Market, but declining values are a concern shared by both of you! Gone are the days when price, condition and location were all a Buyer had to consider. Now, the value of the investment is being questioned.
Education is power! If you are contemplating selling your home, arm yourself with information to attract the right buyer to your home.
PRICE IT TO SELL!
Buyers begin their search for a home with prices. They may do a little bit of unrealistic looking, but when push-comes-to-shove, they seek a home at a price they can afford.
Buyers are pre-qualified by their lender. This tells them exactly how much they can afford.
Buyers work with real-estate professionals. A Realtor knows the market. If your home is over-priced, your most qualified prospect may never see it . . . not to mention the fact that you are making your competition (other similar homes on the market that are priced correctly) look better.
Today’s Buyers have the tools to compare homes ~ videos, virtual tours, feature sheets, multiple photos. Make sure your home has these resources and the best presentation.
Buyers compare and choose homes. They walk through homes with their Realtor and are quick to stack up the amenities as compared to price. Will your home be on their short list?
Buyers lenders confirm offer price with an appraisal. Standards have tightened because there is a new code of conduct that appraisers and lenders must follow. If the appraisal comes in too high, guess who suffers?
Buyers face new lending challenges. There are no more non-conforming loans, no-doc loans . . . creative financing is what got us into this mess! Are you willing to help your buyer by offering seller concessions?
Buyers are scared. Give them reassurance by showing them ways your home is special – property taxes, homestead exemption, write offs. It’s important to share what you know. Your Realtor can help you with this.Buyers have unprecedented inventory to choose from. Is your home priced to sell?