Straight Talk About Selling Real Estate when it is your own property

The three most important things in selling real estate are location, location, and location. Unless you are really old, like 100, you have heard this crap your whole life. If you stop and think everyone that has said this to you was trying to sell you something or was defending their purchase. Real Estate Professionals sometimes mention the price, but we don’t dwell on it unless it is cheap. If a buyer stopped and thought about the fact they were going to pay for this house for thirty years, pay insurance, taxes and maintenance, they would run screaming at the top of their lungs. If a friend of yours buys an expensive home, they talk about the neighborhood, the location and all of the positives. They don’t really talk about the price and definitely not the actual cost.

When a buyer comes to look at your house, absolutely talk about location and amenities. Tell them about how lucky they are to get your house and the whole sales pitch. The discussion that you and I are having now is about selling a piece of property. It is time for you to stop thinking like a consumer and start thinking like a businessperson actively engaged in a major sales project. You can talk about location and schools and whatever until you are blue in the face, but when you are selling, price is king. Your price will determine, when and if your property sells. If your have a good location, your property is in good condition or other positive features, you can ask and receive more than someone in a less expensive neighborhood.

It is hard for the average person to realize, but when selling real estate, the sales price of your home is already determined by what your neighbors have agreed to accept for their homes. If you live in subdivision and three homes like yours have sold for $100,000 each, guess what, your house is going to sell for $100,000. There is probably a 5% swing there, you might get $105,000 or you might get $95,000. There are no absolutes in real estate because you are dealing with human beings and sometimes people fall in love with a house and pay too much. Sometimes people refinance and owe more on their house than it is worth, so they have to ask too much. What I am telling you now is what generally happens, when selling real estate, I won’t talk about exceptional circumstances because I never know when lightning will strike.

If you understand, as you are selling real estate that price is king, you will have an advantage. I am not saying that you have to give your property away. Let me give you a scenario. If everyone in your neighborhood that wanted to sell priced their homes 10% over the market value and you priced your home 5% over the market, then your home would appear to be a bargain. Ask yourself this question, if I am shopping for a home and there are two similar homes for sale, one is priced at $105,000 and the other is priced at $110,000, which one am I going to buy?

Your reasons for selling will have a tremendous impact on the price you are willing to accept for your property. If you really need the money, sell the thing and move on. You can always buy another, when things improve. If you really don’t care if you sell, you will hold out for top dollar or maybe ask too much. That is human nature, but if you do really need the money or you are behind with the bank, don’t get stuck on the price. If you get an offer that gets you out from under, take it and run. You will spend more money getting your credit back in shape then you will lose selling your property at a discount.

Enough of the negative let us talk about the happy scenario. If you get a promotion or your family gets bigger and you decide to sell your home and purchase another, price is king. The same rules apply. Your motivation for selling will determine the price you accept for your property. If you get transferred and you have to move in thirty days, you will sell for less, because you don’t want to lose a good job. If you get promoted and it doesn’t require a move, you may hold out for top dollar and shop for your dream home. Either scenario is fine, just don’t fool yourself in to thinking you don’t need to sell if you actually do need to sell. Tell yourself the truth, even if you don’t tell anyone else.

Price your property correctly and it will sell. Ask too much and you are going to be for sale for a long time.

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You may notice that I use the three-word phrase selling real estate a number of times on this page. That is for the purpose of search engine optimization. Search engines are computer programs that spider (visit) web sites and pick out good pages. Then when some one types in a specific phrase like selling real estate, the search engine gives them the most relevant pages available. Search engine optimization (SEO) is writing a web page in a manner to receive favorable ranking for a certain word or phrase, like selling real estate. These words or phrases are called key words. My key word phrase for this page is selling real estate.

You are probably going to ask, how does he know when, where, and how many times to use the key word phrase, selling real estate? I don't this web site has software that analyzes the page after I write it and then I fix what it tells me to fix. That is how I get good ranking for my pages. It is important to use relevant key words and write a page that actually has something to do with the subject indicated by your key words.

Do you ever wonder why you get so many irrelevant pages when you use a search engine? People will go and find a key word that gets a lot of search requests and use it for a page to generate hits. While this makes your hit counter turn, it doesn’t produce sales or the intended result, because the people don’t stay. They hit the back button almost immediately if the page isn’t what they want. This page, at least the upper portion has relevance to selling real estate.

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