Meanwhile, a comparable 3 bdrm/1 bath, 936-sq.-ft., single-family home located at 19 Cemetery Road, had the same 3 bdrms/1 bath, approximately 936 square feet, and was built in 1955. It sold for $201,800. It was the advising, planning, staging, pre-marketing, marketing, negotiation, and professional know-how that sealed the deal.
THE BASIC HOME SALES PROCESS
Let’s begin with a practical examination of what the home-selling process is and how it works. We’ll examine how listing prices are determined and look at various ways that a listing price is set. I will discuss online valuation, professional appraisal, and the great benefit of a Current Market Analysis (CMA) by a REALTOR®. (You may wonder why the all caps and a service mark. I am a REALTOR® and the National Association of REALTORS® gets fussy. Forgive the symbols -- their use keeps me in good standing with the National Association.) I’m also going to drive home the importance of the seller’s time, effort, “sweat equity,” financial investment, and working as a team with a carefully selected real estate agent. It’s not a hire-me-and- you-are-done transaction. To get the most money for your house, you’ll have to invest in touch-ups, improvements, staging, keeping the grass cut, and many other items. Just as important, you’ll want to focus on the factors that increase your home’s value and saleability, not merely throw money at items that will provide no measurable advantage.
THE 80/20 RULE
Imagine a buyer is in the market for a three-bedroom home and his agent found him five houses to preview. Each meets his general criteria, with similar features, is comparable in price, and is
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