According to market conditions, the length of time it takes to market a home will vary. While some properties sell in just a few days, others may require several months. There are six factors that influence the time it takes to sell a property. They are:
Every buyer makes his decision about which home to buy, and how much it is worth by his other choices at the time he buys. The supply of other homes the buyer will compare with your home is constantly changing each week and month. The current competition always affects the buyer’s opinion of your property and what he will think it is worth. So the question is, what will be the buyer’s other choices at the time he is shown your property?
If the financing should cost too much, or if the seller requires more down payment than most people have who will buy in that area, then the financing may delay or prevent the sale.
If the property has not sold after a reasonable length of time but other similar properties have sold, then the price may need to be reduced. If this is true and the price is not reduced, a sale may be delayed or prevented.
Should the property show poorly or have major defects which cannot be or are not corrected, a sale may not take place until the defects are corrected or until the price is adjusted to compensate.
Timing is the condition of the real estate market at the time of sale. Supply and demand are factors influencing whether it is a seller’s or buyer’s market. Neither the seller nor the buyer can change the condition of the market at the time the property is for sale. It must be accepted for what it is.
Marketing techniques are constantly being tested and updated for best results. But even expert marketing has its limitations, because marketing cannot overcome any of the first five factors if they are out of balance and remain uncorrected. We will supply you with a constant flow of updated information which will help you determine the marketability of your property.