Your home

Looking at Plano home sales and it becomes evident that Plano is a hot spot for real estate activity. However, whether you are planning to buy or sell in Plano, how do you know if you are getting your money’s worth? In short, what is your investment worth, and what dictates the price of your Plano home?

Before you begin looking at Plano home sales, consider that a variety of factors determine a home’s price. Plano home sales, of course, are based on their location and square footage, but there are also a lot more factors that determine the price of a Plano home:

• A Home with a View – If you enjoy a home with a view, consider that this feature of a home may be worth more than you think. In short, people pay for views, so expect to see views (or lack thereof) dictating Plano home sales.
• The Lot – The lot – in short, the position of the lot – is incredibly important when considering the price of a home. Some of the considerations include the size of the lot, the position of the lot and whether the lot is flat. Odd-shaped lots, or those that face neighbors and offer little privacy, typically cause the home’s value to drop.
• Landscaping – Landscaping can play a big role when it comes to pricing Plano homes for sale; particularly for luxury homes. Is the lot wooded? Is there professional landscaping surrounding the home? Are there mature trees and is the landscaping well maintained? All of these questions play a huge role in determining the value of a home.
• Square Footage – Although the number of bedrooms and bathrooms is often a determining factor when consider the price of a home, the size of the home, or the home’s square footage, is also a consideration. However, the only time the size of the home is detrimental to the value of the home is when it is either much smaller than nearby homes or much larger than nearby homes.

If you are unsure about the changes in North Dallas home values, and how this may affect your pricing strategy, you’re not alone. Most sellers want to price their homes aggressively, and also price them to reflect the changes in home values; but they also don’t want to price themselves right out of the neighborhood.

How to Develop an Accurate Pricing Strategy:

• Hire a qualified, seasoned real estate agent – This is one area of selling your North Dallas home that you don’t want to skimp on. Find a top-notch agent who understands the market, and also understands your neighborhood and where North Dallas home values are headed.
• Price it right – Although this may seem like a no-brainer, many sellers, absolutely sure of their ability to sell their home at a higher rate than other comparables in the area, find themselves sitting on their property without an offer in sight. The bottom line is that your pricing strategy should accurately reflect North Dallas home values, not your idea of what you think your home is worth.
• Develop a realistic sales strategy – Decide upon your sales strategy beforehand so that your game plan is put in place. More importantly, however, make sure your sales strategy is flexible so that you can react according to the market and according to home values.
• Make it ready to sell – Most buyers of today are looking for turn-key properties, so make sure your home is in excellent condition before you list it for sale. It is important to realize that all the pricing strategizing in the world can’t make up for a home that doesn’t compare to other homes in the neighborhood. Clear out the clutter, stage it to sell, and perform any repairs or upgrades that will allow it to compete with other homes for sale in the neighborhood.

There are five, major reasons homes don’t sell. Therefore, rather than spending your time cursing the “sold” sign in your neighbor’s yard, take the time to figure out where you went wrong:

1. You priced it too high. Even though your real estate agent advised against it, you went ahead and listed your home according to what you want for the home, instead of what it is worth. Listen to your real estate agent and take a close look at the comparables in your area and rethink your pricing strategy. After all, there is no better way to scare buyers off than with a sky-high asking price.
2. You’re not willing to negotiate. Let’s face it: not every offer is going to be the perfect offer. However, if you are unwilling to negotiate and counter offer, then you may very well lose out on a potential sale. It is important to put your ego aside and simply make a counter offer instead of outright rejecting an offer.
3. You are not flexible. Selling your Irving home is typically inconvenient and frustrating, but it is important to hang in there and remain flexible. Sellers who are not willing to show their home at a moment’s notice; who are not willing to settle upon a different closing date; or who are not willing to consider buyer incentives are simply shooting themselves in the foot, particularly during a buyer’s market.
4. Your home is not clean. You can have the best property and the best features and finishes, but if your home is not clean, you will certainly turn off many potential buyers that walk through the door. The bottom line is that buyers must feel comfortable in your home and they must envision themselves living there; and that is hard to do when the sink is full of dirty dishes and there is pet hair stuck to the carpet.
5. Your home is not updated. In order for your home to compete with other, similar homes in your neighborhood you must make sure it is fresh and updated. Take a quick tour through other homes for sale in your neighborhood and compare the features in those homes with yours. Then, make the necessary changes so that your home can compete with other comparables in your neighborhood.

One of the issues in particular that many sellers begin to question is the price of their home. Is it attracting buyers or scaring them away? Is it on target with some of the other properties in the area? Does it reflect my desire to sell?

So, when do you know that it’s time to lower the price of your home?

Although there are no steadfast rules regarding pricing your Irving home, let alone lowering the price of your home, you can make a sound judgment by reviewing a set of factors and asking yourself some basic questions:

• How long has my home been on the market? What is the average number of days on the market for homes in my neighborhood? It may be quite frustrating to have your home on the market for 60 days without an offer, but it may be quite common for homes in your area to sit on the market for 60 days. You real estate agent can help answer this question for you so that you can determine whether your home’s time on the market is common or out of the ordinary.
• What have potential buyers said about my home? Buyer feedback is very important and can provide you with a wealth of information regarding the price of your home. If buyers are reporting that they feel your home is overpriced, then it may be time to consider a different pricing strategy.
• Am I pricing my home according to the market, or according to what I want to make? Answering this question honestly can often reveal whether you have chosen the price of your home for the right or wrong reasons. Although we all may have an idea of what we would like to sell our home for, the reality is that we must price our home according to the market conditions, not according to our pocketbook.

1.

Well, the first -and arguably the most important – thing to do is obtain a qualified real estate agent. This is not the time to get stuck with a less-than-experienced agent who makes all the wrong moves.

How to Find an Agent Who Will Get the Job Done

• Ask friends, family members and neighbors for referrals. Often times, you may find the best real estate agent through a friend or family member who recently bought or sold their home. Remember: a great referral goes a long way!
• Look around the neighborhood at the homes for sale. Often times, the best way to snag a popular agent in your neighborhood is to simply look at the other homes for sale. It may also be a great way to find an agent with a good knowledge of the area and the homes in the area.
• Interview at least two or three agents from different companies. Compare each agent’s experience, background, education and continuing education, and see which agent comes out ahead.
• Ask a potential agent about his or her philosophy on selling homes. The agent’s answer can often indicate whether he or she is a good fit for you.
• Determine if you have a good rapport with the agent. An agent can have all of the education and experience under the sun, but if you don’t feel comfortable talking with him or her, it is probably not a good decision to dive into a business relationship. Remember: you will need to communicate with this individual over the course of several months, so make sure you have a good rapport with him or her!
• Determine which marketing strategies the agent will use to sell your Coppell home. More importantly, make sure you are in agreement on the strategies that the agent will use. A red flag may be an agent who does not have an active marketing strategy for selling a home.
• Ask for references and follow up. Ask others who have bought or sold homes with the agent about their overall experience. Ask them what they liked most about the agent, and what they didn’t like about the agent.

Some Questions you May Want to Ask a Potential Real Estate Agent

1. How long have you been in business?
2. Are you involved in continuing education? What certificates and qualifications do you hold?
3. Are you familiar with the area? How many homes in the area have you sold?
4. How many Coppell homes have you sold in the past year?
5. Will I deal directly with you throughout the process, or will I also deal with an assistant/ colleague?
6. How do you plan on marketing my home?
7. How many clients do you currently have (too many clients may mean the agent may not have enough time to properly market your home)?