The 80 / 20 Rule For Selling Your House
20% = Exposure
80% = Price
Price and exposure are the two main factors in
getting your home sold in today's market. 20% is
effectively exposing your property to potential buyers and other
real estate agents, which is of course very critical but 80% is
how your home is priced. No matter how well we advertise
your home if it's priced higher than everything else that's
comparable it's just not going to sell.
Because your home is not the only one on the
market, pricing it comparably to the market is critical to
getting it sold. Home buyers are more educated today and
most of the time work with a real estate agent who will be in
tune with current market prices. More than likely, a
buyer's real estate agent will give them a list of homes that
meet their criteria so they can easily compare them side by
side. If your price isn't comparable to everything else
out there they probably won't even bother to look.
After you've set the price where it needs to be
getting the word out about your home is the other key factor in
getting it sold. You can definitely try it alone, but in
the end you'll usually find that a real estate agent's
experience and resources of knowing when, where and how to
promote your home really pays off. Between listing on the
Multiple Listing Service (MLS), newspaper ads, home magazine ads
along with simply name recognition, reputation and a variety of
other methods it's really something you'll usually find the best
results with a qualified real estate agent.
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