Selling Property - 5 Factors of Selling your Home

There are five major factors to consider when selling a home. These factors will greatly influence not only the final price you will get for the property, but also how quickly it will sell and how much grief you will suffer through the sale.

1. Location

Over history it's been said the three things to look for in buying a property are: Location, Location, and Location. There are positive and negative factors to almost every location. Let's pretend your property is right next door to a fire station, you need the kind of marketing professional that can sell the benefits of not having to worry about your new home burning down, or perhaps the savings on fire insurance. Seriously, no matter where your property may be located, there is a ready, willing, and able buyer in the marketplace. The "problems" with the location of a property can be overcome, you just need a Realtor who will work hard to do so.

2. Your Realtor and his/her Company

Not all Realtors are the same. We each take different approaches to the marketing of your home. These ranges from as basic as placing adds for the home for sale, to Realtors who actively market the home through newspaper advertising and the Internet. You will likely have a positive Real Estate experience if you pick a Realtor who meets the following criteria:

• Personality. It's hard to work with an agent you don't like.
• Availability. Having a full time Realtor (or a team of them) is vital to the successful sale of your home
• Work Ethic. Just like any other professional in your life, you need a Realtor who is organized, professional, and hard working. By having a professional Realtor working on your behalf, your entire experience will be more positive.

3. Terms

Are you flexible on possession dates? Is your property easy to show? Are you prepared to negotiate on appliances or other chattels? This flexibility makes your home much more attractive to potential buyers. For example, many out-of-town buyers won't even consider a home if the possession is not flexible. First time home buyers often have to purchase the appliances with the home because they have to put all of their savings into the down payment.

4. Condition

Making a good first impression is important in getting a property sold. Painting the front door and trim, making sure the doorbell works, putting furniture and clothing in storage, and cleaning off counter tops and fridges are just a few of the little things that can be done to make properties more marketable. Just remember cleanliness and pride of ownership will get you more money.

5. Price

Determining a price is more than just picking a number. It involves careful analysis of the property. Many things come into account when determining a price. In fact, it is often through price where short comings in the other factors are balanced. For instance, if your home has been damaged from bad renters, is difficult to gain access to, is right next door to a "drug-den", and is located between the city dump and the airport, then the home will have to be priced accordingly. But watch out, while the price can fix almost every short coming, it's not always the best solution.

Having a Realtor who will be honest with you about these factors is important, and could save you several thousand Rands.

IS IT THE RIGHT TIME TO SELL AND AT WHAT PRICE?

Current economic and property market conditions will have a big impact on the price you get for your property. Over-price your home and the chances are you will delay the sale, under-price it and you will regret selling too cheaply. The location, size and features of the property normally determine the actual selling price. Remember that the seller usually sets the price, the buyer usually sets the value!

Also remember these factors when determining your selling price:

•  The outstanding balance of your existing home loan
•  Estate agent's commission
•  Municipal and legal costs
•  The process and costs of moving