Do You Have to Drop the Price?

As the seller, it is only reasonable that you would like to get the most money for your house. Is your house not selling? This may be due to several different factors such as economy, competition, location, and fewer demands. These factors are beyond your control however, there is one thing that you can have power over and that is your asking price.

It is maybe the time to drop your asking price if your house has been in the market longer than the others with house features similar as yours. If the average number of days to sell a house in your area is 15 days and your house has been sitting for 25 days already, the price may be affecting your buyers’ interest. Do not let your house sit for much longer otherwise; buyers will think that there is something wrong with it.

Drop the price if you are following a tight deadline. Some people find the need to sell their house quickly if they are relocating, have already purchased a new home, and or facing foreclosure. If you happen to be in a similar situation, you can amp the buyers’ interest by dropping the price. Selling a house is not about how much money you make as the owner but it is how much money the buyers are willing to spend for your house.

Drop the price if you need to sell your house as is. If the reason for selling your house is financial hardship, it is more likely that you cannot afford to pay for a few upgrades. Fresh paint, new kitchen counter top, or new water heating system in the bathroom can go a long way in getting more buyers. Buyers are unlikely to pay for a home which is less presentable than the other comparable.

Do you need to sell as is? Do you need a quick turnaround time? Can’t afford to lose more money? If your answer is YES to all of these; then you need to sell your house to Lucas Properties.

You don’t have to drop the price. Lucas Properties, a private investor, offers a fair cash price based on the marketplace and your house’s condition. 

Advantages and Disadvantages of FSBO

FSBO also known as For Sale By Owner has definite advantages in certain situations. What made it popular to home owners is the cost they save on realtors’ or brokers’ fees. At most, home owners save up to 6% of the asking price when they opt for FSBO. At times, this amount can be tempting enough to forego the realtor’s services. But before you make a decision, let’s take a look at the advantages and disadvantages of going the FSBO route.

Marketing

Realtors have marketing leverage. They can list your home in MLS plus they have contact with other agents through their network which gives you the advantage because you are sure to reach wider prospects. On the other hand, since realtors handle multiple clients at once, you cannot expect them to devote their time on your property alone. It is true that realtors can list your home in MLS but it will only become as one of their many listings.

Property Showing

When you hire a realtor, he will take care of showing your property to prospective buyers. He will help you prepare or stage your house before the showings. He will answer questions from buyers, set up open houses and handle financing and closing issues. With FSBO, you will be doing all these work by yourself.

Money

With FSBO, you can save up to 6% of the asking price. Let’s examine this further by taking a look at these situations:

• You will be paying your own advertising – online listing, local papers, making of signage, flyers, posters, and print ads.
•  You will be paying for an attorney who will be handling the legal issues and drawing up of contracts.
•   If you don’t know how, you will be paying for a consultant who will do the comparative analysis of your home.

Do you think you can still make the most money after examining these costs? Do not forget that when you choose FSBO, you will also invest time and effort in the selling process.

Are you still decided to go with FSBO? You can skip the marketing and property showing and still save on the realtor’s fee by selling your house to private cash investors.

Sell your house for cash to Lucas Properties LLC. Unlike realtors, they do not ask for commission. They take away the strain by taking care of the closing documents making every transaction hassle free.

Common Reasons Why Your House is Not Selling

Why the house has been sitting on the market for months can be attributed to several reasons. As an owner, it is wise to know the things that push buyers away so you can create actions to prevent them.

Lack of curb appeal. First impressions last – this much is true in every real estate transactions. You need to capture a buyer’s attention and make sure to leave a lasting impression otherwise, he will simply move on to the next listings. But what kind of impressions should you make? The kind that will make any buyer think that your house is what he needs.

External maintenance is as important as the house maintenance. If a buyer is turned off by a lack of exterior maintenance (bad fence, cluttered pathways, and overgrown grass) then most likely he will have a bad impression of the house itself. It is no wonder that he may not even take the time to see the house.

Unreasonable expectations. Overpricing is the most common reason why buyers stay away from your property. Although it is typical that as an owner, you will think that your house is above all the others, this is not always the case. To attract buyers, you have to think like a buyer.

• Pretend that you are shopping for a new house and compare yours to others. 
• Is your house beautifully staged?
•  Is it located in a more desirable area of the subdivision?
•  Does it have all the modern amenities?
•  Is it built by highly regarded home builders?

Does your house compare? If your answer is NO, then you have a work to do.

Lack of proper marketing. You have the most beautiful house in the area but do buyers know about it? Aggressive marketing plays an important function in getting potential buyers. Whether you are selling the house on your own or you are working with an agent, you have to make sure that your property has the maximum exposure. Make use of the social media, create a personalized website, list in multiple listings, distribute flyers, and ask for referrals.

If you need help in selling your house, contact Lucas Properties. They have been in the industry for many years and have helped many home owners who find it difficult to sell their homes.