When facing a sellers market or a buyers market there are only four factors that determine whether your home sells or not. These factors are true for $100,000 homes or for multi-million dollar homes. Ignore them to your peril.

In my Bradenton Sarasota, Florida market we are currently in a strong buyers market. From 2000 2005 we saw our house values go up by 145 percent. Now, since 2005, we have given back about 20 percent of that value. That still leaves us with a 125 percent gain, which is quite fantastic.

Yet, I have seen homes in our Bradenton Sarasota area sit on the market for over a year without selling. Many sellers are on their fourth or fifth real estate agent, trying desperately to sell. Real estate offices have closed. Agents have left the business. Sellers are discouraged and some have given up hope.

Only about 4 percent of the homes in our local Multiple Listing Service are selling in any given month. That means 96 percent of the homes on the market will not sell this month. Heres the question. How do you become one of the 4 percent that will sell?

There are only four factors that determine if your house sells or not. Get them right, and the sale is yours.

Factor #1 Location. We have all heard that the most important thing in real estate is location, location, location. Why is location so important? Imagine for a moment the house of your dreams. Maybe its located near the beach or a mountain stream. What would you pay for a home like that?

Now, imagine that same house located next to the city dump. How much would you pay for it now? Its the same house, you only changed the location.

Of course, we are talking about selling a house that you already own. The time to pick your location is before you buy it. Your location now, is what it is. You cant change it. However, there may be things that you can hide or highlight. For example, if your house is in a poor location, it might help to erect a fence. Or, adding landscaping may help.

Homes in a desirable location sell faster and for more money than homes with a poor location. In our Bradenton Sarasota, Florida area waterfront homes are the most expensive. People pay a premium to enjoy our white sandy beaches or beautiful river or lakes.

Factor #2 Condition. Homes in good condition sell faster and for more money than homes in poor condition. When I am interviewing a listing prospect I will ask them to mentally compare their home with a brand new model home. Think about it. On a scale of 1 to 10, with 10 being model perfect, how would you rate your home?

If you want to sell your home faster and for more money then be sure its in perfect condition. Clean and paint if necessary. Put in new carpet. Freshen up the landscaping.

We offer a FREE report entitled, 97 Ways to Make Your Home Sell Faster, which contains tips and ideas for improving the marketability of your home. Go to my website and contact me a copy of the free report

Factor #3 Marketing. The third factor which determines how fast your home sells is the marketing. Can you market your home as well as a Realtor, or will you need professional help?

Some people are do-it-yourselfers. In real estate they are called FSBOs for for-sale-by-owners. National studies have shown that homes sold by owner sell for about 13 percent below homes sold by a real estate broker. Sure, you can sell it yourself (maybe), but can you really afford to lose that much money?

Realtors are marketing experts. They can counsel you about price, condition, and negotiating the sale. The fee you pay your Realtor is well deserved and will help you put the most money in your pocket.

Selling a home requires a well conceived comprehensive marketing plan. Ask to see your Realtors plan in writing. It your agent doesnt have a written plan, then its time to find a new agent.

Factor #4 Price. The final and most important factor in selling your home is price. I believe that price is 80 percent of the whole package.

Consider this, you can have the best location, a home in great condition, and a top-notch marketing plan. But if the home is over-priced it will not sell. I often say that you can put a home for sale on the front page of the daily paper for a month, but if its overpriced it wont sell.

On the other hand, you can take a home in a bad location, in terrible condition, and if you market it with the right price, somebody will buy it. Price cures all ills.

Price is the most important factor when it comes to selling your home. Setting the price is where you need expert help. Be sure your Realtor is knowledgeable about the market and your neighborhood.

A good Realtor can help you set a realistic price that will help you get the most money in the shortest amount of time.

There you have it. Get these four factors right and your home is sure to sell.

Author: Dan Forbes
Article Source: EzineArticles.com
Provided by: Smart cooker