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Three Reasons A Buyer Chooses The Home They Did

Written by on Wednesday, 30 July 2014 1:35 pm
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There are three reasons a buyer chooses to buy a home:

Location Condition Price

Let's take a look at each:

Price

First, you need to know if your neighborhood and price range is in a buyer's market or seller's market. A buyer's market is characterized by large inventories of 6 months supply or higher, fewer buyers making offers, low offers, and many seller concessions. A seller's market is characterized by low supply of 6 months on hand or less, heavy buyer traffic, multiple offers, and close to full price or full price offers.

Bankers, buyers' agents and buyers all have access to the same information that your agent has given you. If you overprice for the current market, your potential buyers won't get their loans approved.

 

Condition

Allow your real estate agent to help you market your home by putting it in the best condition possible. Buyer's pet peeves may be easy items to fix, but you don't want your house to go to the bottom of their list because you failed to paint, mow, replace the carpet, etc. Sometimes you have to invest a little money to make money.

Location

You can't do much about your home's location, but you can make your home more attractive with lovely landscaping, fences to block out ugly views and sounds, a lower price and immaculate condition. If you do have a great location, don't overprice.

It's hard not to be sentimental about the home you've lived in for years, but to buyers, your home is a commodity. Like you, they simply want to make a good deal on a home they love.

You'll quickly find out what real estate agents and their buyers think of your home. If you get a quick offer, you know you priced it right for the location, condition, and the current market.

If you don't get an offer within a couple of weeks, or whatever period is normal for your area, there's something wrong.

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  About the author, Blanche Evans

3 comments

  • Comment Link William (Bill) Lacy Monday, 11 August 2014 9:16 pm posted by William (Bill) Lacy

    I have been practicing real estate since 1971. At one time it was thought the three most important were: location, location and location. In the last few years I have come to the conclusion that it might be location, condition and motivation (of both buyers and sellers).

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  • Comment Link Vincent Thursday, 31 July 2014 9:53 am posted by Vincent

    Very good article. A company called The Elite Connect, they provide service of connecting you to real estate agents in your area at $0 cost. Check more at https://theeliteconnect.com/ .

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  • Comment Link Donna Bruno Thursday, 31 July 2014 6:09 am posted by Donna Bruno

    Great article Blanche!

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