Ever wonder what buyers look for when they are searching for properties? This is a great place to begin thinking through the eyes of potential buyers who may be interested in your property for sale. There are many different types of properties, buyers and locations to consider when breaking this down further but let's talk about where to start in general. The first thing a seller can do is sit down with a pad and writing utensil.
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Take a few minutes to brainstorm about all the things that attracted you to your home and why you felt compelled to purchase it. Was the property attractive to you for the schools or neighborhood? Was it close to work and an easy commute? Was it because of the location and access to freeways or public transportation? Think of as many things as you can when reflecting on the reasons for purchasing your home. Next, write down all the things and ways that you were able to improve the property including updates, efficiency, new fixtures, features, etc.
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This will really help to codify what type of buyer may be attracted to your home and what added values may be attributed to the sales price. It is extremely important to price a home properly from the beginning if you want a successful sale in a reasonable amount of time. Remember the old rule of thumb the longer a home stays on the market, the less desirable it can become to potential buyers. This is not related to the property itself but rather a misconception that many buyers believe something must be wrong with it. Now that these things are in order, it is safe to start to identify your target market for buyers.
Home buyers in today's market are selective and fickle. They know the market has many choices and they are in the driver's seat. This is a big part of why it's so important for a seller to identify who potential buyers are before the property goes on the market. Otherwise, you come up with a frustrated owner and costly marketing plan. A seller can also use these tools to help select a strong, experienced listing agent. When employing a real estate professional to help sell your home, make sure to go over these things and you're on the same page. Understanding these concepts can greatly increase the chances of a successful sale. Here are some of the most important items that buyers are looking for.
1. Location. Buyers are looking for properties, with appealing features & amenities, in specific locations. This is especially true in the real estate market today with many properties being readily accessible though the internet. The location of a property is a key factor and should be looked at very carefully by potential buyers. The seller can take a hard look at the location helping to identify the type of buyer who wants to live there. Location, location, location.
2. Value. There are many types of buyers and properties in the market today but only one fundamental truth. Everybody wants a good deal. There are many familiar parables with buyers purchasing things, often things they don't need, just because they got a good deal. This is another reason for a seller to make sure the property is priced well from the start.
3. Curb Appeal. There is nothing worse for a buyer than showing up to a property of interest and not wanting to go inside. A seller should make sure that a property looks warm and inviting to a buyer from the outside, not cold and uninviting. Simple things like making sure the lawn is freshly cut, the gardening looks nice, the yard is not cluttered and lot's of color from plants & flowers really help with curb appeal. It is also important to make sure the walkways are clear.
4. Cleanliness. Sometimes there are properties with good features, in a good location, that still do not sell simply because they don't show well. It kind of defeats the purpose of having strong curb appeal when the property does not show well inside. A seller can take a few minutes, walk through the property, and look for clutter, extra furniture, the flow of the property and over all cleanliness. It is also a wise idea to paint if needed. Buyers want to feel like they are in a safe and clean environment.
5. Finish work and details. Home buyers pay close attention to the finite details of a home. They can and will point out a missing light switch cover over the brilliant new light. It is always a good idea to make sure everything is the way it should be prior to a potential candidate discovering it for themselves. It is a good idea to take a look around for dings in the walls, missing electrical or light covers, floor coverings or tack, caulking in the bathrooms, missing or broken grout in tile work, etc.
We have taken a look at some of the top things to consider before selling a property. It is nothing short of common sense being applied in a specific direction toward a common goal. It is a valuable skill to be able to recognize what potential group of buyers to target market along with what they could be looking for. This will help to streamline the right buyers, to the right property in the shortest period of time.
There are many more steps involved with the successful mechanics of marketing and selling a property, but this is a good foundation to build on. Understanding what potential buyers are looking for and how to identify them is an art and skill. It is wise to consult with a qualified real estate professional and attorney or certified public accountant especially when there is anything subject to short sale or bank owned.
Springtime is newly here and now is the right time to be taking care of any issues prior to selling your home. The peak season for selling residential real estate is now through the end of July so take advantage now. It is all of these small real estate idiosyncrasies that can mean the differences between selling, or not, selling a property. The beauty is in the eye of the beholder, you reap what you sow and it's not the notes that make the masterpiece but the silence in between the notes.
For more information, or to get a property analysis, please visit my websites for further information.
Best,
Matthew Larsen
California Real Estate Broker
DRE # 1448393
Selling a House - What Buyers Are Looking For
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Nov 19, 2011 10:16:54
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