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Key Market Factors

How long does it take to sell a home? There's no easy answer -- some homes sell in a few days, others may take months. Recognizing the key factors influencing marketing can give you significant control over market time. Balance these factors and your sale will be expedited!

Location

Location is the single greatest factor affecting value.
Neighborhood desirability is basic to a property's fair market value.

Competition

Buyers compare your property against competing properties.
Buyers interpret value based on available properties.

Timing

The real estate market may reflect a Seller's market or a Buyer's market.
Market conditions cannot be manipulated: an individually tailored marketing plan must be developed accordingly.
The number of Buyers currently in the market may be affected by the time of year, weather, and the economy.

Condition

Property condition affects price and speed of the sale.
Optimizing physical appearance and advance preparation for marketing maximizes value.

Terms

Local market rates are most likely to be used by Buyers.
The more terms available, the broader the market, the quicker the sale and the higher the price.
Terms structured to meet your objectives are important to successfulmarketing.

Price

The "Pricing Pyramid" says that price is a function of time.
If the property is not properly priced, a sale may be delayed or even prevented.
Reviewing the Berkshire Hathaway HomeServices Market Supply Report assists you in determining the best possible price for your property.
Comparables tell us where the market has been and where it is going.