UNDERSTANDING THE BUYER
A Seller's Insight

As the seller, you can control three factors that will affect the sale of your home:

• The home’s condition – yours should be neat and clutter free
• Asking price – yours should be within the range of your neighborhood’s threshold
• Marketing strategy – Social Media rules

Location

Unfortunately, the most influential factors in determining your home’s appeal to buyers are things you cannot control: location and community. According to the National Association of REALTORS(®), neighborhood quality is the No. 1 reason buyers choose certain homes. The number 2 most influential factor is commute times to work and school – location.

Size

While some buyers want to simplify their lives and downsize to a smaller home, home sizes in general have continued to increase over the decades, nearly doubling in size since the 1950s. Smaller homes typically appeal to first-time home buyers and “empty nesters” (couples whose children have grown up and moved out). Larger homes appeal to growing families and more affluent buyers.

Amenities

Many communities these days offer their own amenities. Buyers like communities that have their own pools, golf courses or playgrounds. Sometimes they even like stores, restaurants and entertainment to be close at hand.

Preferences in floor plans and amenities go in and out of fashion, and your real estate agent can inform you of the “hot ticket” items that are selling homes in your market. If your home lacks certain features, you can renovate to increase its appeal, but be forewarned: Renovation is not always the right move. It can be costly and not offer any return on investment. Using market conditions and activity in your neighborhood as a gauge, your agent can help determine whether the investment of your time and money is likely to help or hinder your profit margin or decrease time on the market.