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Understanding the buyer
As the seller, you can
control three factors that will affect the sale of your home:
* The home's condition
* Asking price
* Marketing strategy
However, it's important to note that there are numerous other factors that
influence a buyer, and you need to understand these consumer trends when you
enter the sellers' market. The more your home matches these qualifications, the
more competitive it will be in the marketplace. Your real estate agent can
advise you on how to best position and market your home to overcome any
perceived downsides.
Location
Unfortunately, the most influential factor in determining your home's appeal to
buyers is something you can't control: its location. According to the National
Association of REALTORS(r), neighborhood quality is the No. 1 reason buyers
choose certain homes. The second most influential factor is commute times to
work and school.
Size
While some buyers want to simplify their lives and downsize to a smaller home,
home sizes in general have continued to increase over the decades, nearly
doubling in size since the 1950s. Smaller homes typically appeal to first-time
home buyers and "empty nesters," or couples whose children have grown up and
moved out.
Amenities
Preferences in floor plans and amenities go in and out of fashion, and your real
estate agent can inform you of the "hot ticket" items that are selling homes in
your market. If your home lacks certain features, you can renovate to increase
its appeal, but be forewarned: That's not always the right move. Using market
conditions and activity in your neighborhood as a gauge, your agent can help you
determine whether the investment is likely to help or hinder your profit margin
and time on the market.

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