It is important for me to evaluate who would be the most likely buyer for your home. I look at several factors such as age, first time buyers, downsizing or rightsizing. Next, I also evaluate the neighbourhood amenities based on the above criteria. We then build an Avatar and market directly to them.
PERCEIVED VALUE
If the perceived value of your home by a potential buyer is greater than the actual price, the more willing he is to buy. The urgency to buy disappears, the closer the price and perceived value are. This means marketing the home to match the buyer’s specific needs and desires. A real estate agent can help you know the buyer’s hot buttons, such that marketing and presentation can be tailored accordingly.
HOW THE BUYER’S APPRAISAL WILL EFFECT P AISAL WILL EFFECT PRICE
It is important to understand that most buyers will be using some form of financing when they purchase your home. This means that the buyer’s lender will order an appraisal on your property. If the home does not appraise for at least the amount of the sale price, the buyer’s loan will be limited to 95% of appraised value. This is often true even if the buyer is putting a large amount of cash down on the property. This is one of the major reasons why you will need to set the right price on your home.
BUYER’S MARKET VS. SELLER’S MARKE S MARKET
Simply put, a Buyer’s Market is when supply (number of homes for sale) outpaces demand, and a Seller’s Market is when demand outpaces supply. Put another way, in a buyer’s market
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