When selling a home, the more you know the better off you may be. This is true of almost any industry, but considering the wide range of peoples’ knowledge and experience when it comes to the real estate market, it is still sound advice for everyone. This is applicable to both buying and selling homes.
When selling a home, the words you use matter. In a listing, using words such as “potential” and “TLC” could actually lower the sell price of the home by 7 percent, while using words such as “captivating” and “luxurious” may add to the home’s value by 8.2 percent. It is also believed that creating a more detailed listing often helps in the sale of the home. The more a consumer knows about a home, the more confident they may be to buy.
Location still matters. One of the old clichés in the industry was to own a home near a Starbucks, or similarly convenient store. Believe it or not, that still holds true. Statistics show that a home within range of Starbucks could yield as much as a 30 percent increase in value over a similar home in a different location. This is important to keep in mind when buying a home as well; there may well be a significant increase in a home’s value if it is located near a desirable store or building. If those matter to you less, you will be paying more for a home with nearby benefits you will not utilize.
Whether you have commercial or residential real estate you are considering putting out on the market, having a strong understanding of the business and industry could help you sell you properly sooner and potentially for more money. If you have any questions or concerns, it may prove to be beneficial to speak with a local law professional familiar with real estate transactions for advice and guidance.
Source: NY Post, “8 surprising real-estate tips,” By Susannah Cahalan, Jan. 25, 2015
