Mind your P's & Q's
When I was growing up, minding your P's and Q's meant to be on your best behavior. While you don't hear this idiom much anymore, the concept is on target for today's real estate buyers market. Today's home needs to show it's best side to compete in today's market. So, what are the P's & Q's of real estate? – Price, Problems & Questions Let's start with the P's – Price and Problems: Every seller is prepared to talk about their home's attributes. Rarely do home sellers want to even think about the potential problems, much less correct them. Both attributes and problems need to be assessed in order to determine the correct market value and listing price to sell their home. So how do we handle price and problems? First you need to list all potential problems that will inhibit the sale of the home. Now you need to determine which "Fixable Problems" the owner is willing to address. Keep in mind that postponing the fix will often postpone the sale. In our current real estate market there is a great likelihood that home prices in some areas will slowly fall over the next year or two. This means you need to price the home correctly when you first list it! If a property does not sell within 30 days, you will need to reassess with a fresh market analysis. Now let's talk about the Q's – Questions You need to ask yourself what else can be done to sell this property. Ask yourself what a potential buyer might be concerned about and have those answers ready. I often suggest that sellers have an inspection performed on the home before it goes on the market and correct any problems they find. In today's market you cannot afford to make assumptions that you can answer buyer's concerns later. With so many homes to choose from, later may never come!Pensacola Realty | MLS Pensacola | Pensacola Florida | Realty Articles | Pensacola Florida Activities |
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