Factors determining the selling time for a property and the price received:

 

  • The Listing Price
  • The Condition of Your Property
  • Terms
  • The Agent Selected
  • The Location
  • Available Financing
  • Supply and Demand
  • The Competition of New Construction
  • Economic Trends

 

The first four items on the list:  listing price, condition, terms, and the agent selected, can be controlled by the seller.  The time necessary to sell a property can be shortened by selecting a competitive price, improving the condition of the property, being agreeable to various terms in a contract and selecting an agent who has the expertise and enthusiasm to market your property aggressively and wisely.

 

Factors Not Affecting the Value of a Property:

 

  • Original Purchase Price and Costs
  • Cost to Re-build a Similar Home Today
  • Total Costs of Improvements
  • Personalized or Overbuilt Improvements
  • Personal Attachment

 

The original purchase price of a property was determined in the marketplace at the time of the purchase.  Improvements made may or may not make a difference in the way a potential buyer looks at the property today.

 

 

Proper Pricing

 

Houses sell quickly and usually for the most money when they are priced properly in the beginning.

 

 

Overpricing

 

  • Reduces activity
  • Reduces advertising response
  • Loses interested buyers
  • Attracts the wrong prospects
  • Eliminates offers
  • Helps sell the competition
  • Can result in appraisal problems
  • Extends market time

 

The Consequences of Overpricing Your Property

 

Prospective buyers are seldom looking at only one house.  They will often spend many weeks, and even months, comparison-shopping for a home.  If your property is priced higher than your competition, the following may occur:

 

  • Overpriced properties miss the opportunity to compete most effectively in the period of peak attention during the first few weeks of the listing period.
  • An overpriced property will not be shown to prospects who would be interested if the property were competitively priced.
  • Overpriced properties help sell those that are priced competitively.
  • Overpricing almost invariably leads to the need for additional time to sell the property.
  • Offers received after the property has been on the market for a long time are generally much lower than those received early.  Buyers wonder why the property has not sold.
  • Appraisers may have difficulty justifying the price.
  • Lenders are reluctant to provide a loan commitment for a property that has sold for more than comparable sold properties.

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Flower MoundHighland Village



Ebby Halliday, Realtors
6000 Long Prairie Road, Suite 100 • Flower Mound, TX 75028
972.355.5645 •




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