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Five Reasons a Property Will or Will NOT Sell

The 5 reasons a property will sell or NOT sell:

1. Location Image

People will either like the location or not.  Most people like to be situated either in the right school district to meet their needs, close to work, a particular neighborhood or someplace with a view. In most instances, people look for location first.  You know what they say; "Location, Location, Location!"  If your home is in a poor location or has questionable surroundings or neighborhood, any of the remaining four reasons may need extra attention. Idaho Real Estate is always a good location, but there are always possible surroundings that aren't as desirable...

2. Price Image

Especially in our current Idaho Real Estate market, PRICE can be THE most strategic reason a buyer will buy.  As your agent, I will provide you (my seller) with comparable properties in both "Active" and "Sold" categories. It's best to be as high as possible when compared to the "SOLD" properties (to get the highest price possible) however,  price average or below when compared to the "ACTIVE" properties (your competition). Some sellers will say something like, "We can always come down..."  However, in a competitive (buyer's) market, some buyers won't even look at a home that seems to be overpriced (above average). Listen to the advice of your agent when determining the pricing strategy of your Idaho home.

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Finding the Right Agent

Not all agents work the same way. The most important attribute of an agent is that he/she is well connected to the real estate industry. He/she should know the market and provide information on past sales, current listings, his or her marketing plan, and at least 4 solid references. In addition, you also want to look for an agent that is honest, assertive, and one that best understands your needs.

Try to go with a local agent. They can better serve your needs; they are familiar with what the local market condition is, the local prices are, and what's hot or not in your community.

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Plan of Action

Selling Your Home in Idaho 

1.) Analyze why you are selling - If you understand your motives, you will be able to better negotiate and to get what it is that you want, whether it be a quick sale, high price, or somewhere in the middle. Allow your agent to describe the current market conditions and what trends buyers are making when presenting offers.

2.) Prepare you home for the buyer - Maximize the strengths of your property and fix up it's weaknesses. You want the buyer to walk away from your home with a lasting good impression. When selling a car, you wash it, wax it, vacuum it out, shine the chrome and brighten the tires...How much more important is the sale of your house?

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Know Why You are Selling

If you know exactly why you are selling, then it is easier for you to set the right plan of action to get what it is that you want.

If you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities. It does not mean that you won't or cannot get the highest price, but it means that the price is not the deciding factor. A buyer who can give you a quick closing time will appeal much more to you than a buyer who can offer you more money but the negotiation and closing time drag on.

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Making a Good First Impression

If you want buyers to be interested in your home, you need to show it in its best light. A good first impression can influence a buyer into making an offer; it influences a buyer emotionally and visually. In addition, what the buyer first sees is what they think of when they consider the asking price.

A bad first impression weighs in as deeply. Don't show your property until it's all fixed up. You do not want to give buyers the chance to use the negative first impression they have as means of negotiation.

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Getting the Highest Price in the Shortest Time

In order to get the highest price in the shortest time, you need to know how to market your home. The better you market your home, the more offers you will get. And the more offers you get, the more choices you have to get the price and terms you want.

The most important factor of marketing your home is pricing it right. Your price should be adjusted to reflect the market, and the property's worth. The key is to get many people checking out your property at a fair price instead of having no buyers because your price is set to high.

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Hot, Normal, & Cold Markets

Hot Market

A hot market is an extremely competitive market, one that is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than their asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.

Read more: Hot, Normal, & Cold Markets