After more than 15 years as a licensed real estate seller in New York State, I have witnessed situations where homeowners seemed to maximize their sales prices, while at other times achieving much less satisfactory results! The reality is that effectively and successfully marketing and selling a home takes time, proven strategies, timely, well considered, and often hiring the best real estate professional for your specific needs and priorities! A well-thought-out strategy requires several factors and considerations, and proceeding wisely and effectively from the start. With that in mind, this article will attempt to, briefly, consider, examine, and review, 6 specific key, significantly, wisely, home selling strategies.

1. Start with a competitive market analysis (CMA), which is professionally designed and created: Instead of basing the listing price (the price you are offering, the house for sale, on the market) on emotion, greed, or overly rosy predictions, the best way to do it is to use a Competitive Market Analysis, which, professionally, consider what similar homes are selling for, in the specific local real estate/housing market. This should indicate a price range, based on reality, economic considerations, and the competition!

2. Current Market Conditions: When comparing sales prices, it is essential to base them on very recent transactions and actions, sales price, rather than simply offering/listing on! Also, is the local market a Seller, Buyer or Neutral? Hire a real estate agent, who will make you the best informed, consumer and seller!

3. Property Specifications: How does a particular house and property compare to similar ones in the local region? What features make this house more or less attractive and valuable? Does the style, size of the room, and general condition make it more or less desirable? How about the curb appeal? When potential and qualified buyers view and/or drive by a property, does it attract them in a positive and compelling way?

4. Offer and demand: Current supply and demand, impacts, quotation and sale price! When home inventory exceeds demand, it’s a buyer’s market, and competition for qualified potential buyers increases. When the opposite is the case, we often witness significant price increases. When it is somewhere in the middle, it is a neutral set of conditions, and a specific, well-considered and designed plan is necessary.

5. Buyer Insights: Often, it is the buyer’s perceptions, positive or negative, that determine how a particular property will perform, relative to others. Why do you think sellers spend to set up a house, to help it sell, for the highest possible price, in the shortest period of time?

6. Mortgage interest rates: We have experienced record or near-record mortgage interest rates for a significant period of time in the last two years! Since this allows people to qualify for larger amounts of money (to borrow) and pay lower monthly payments, it creates rising prices, because buyers feel they can get more for the money! However, this is often somewhat even because each property does not increase at the same rate.

If you are considering selling your home, hire an agent to consider and explain how you will best use these 6 keys, as well as other important ones, and how it could benefit you! Since, for most, the value of your home represents your biggest asset, doesn’t that make sense?