Selling Reno And Sparks Real Estate Blog

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Tips to Get Top Dollar on Your Las Vegas Home

Get Top Dollar for Your Las Vegas HomeOccupancy Status – The best type of occupancy status is a vacant home.  It is always easy to show.  No appointments are necessary and no roadblocks are in the way.   Usually the worst type of occupancy status is an uncooperative tenant.

The more people who get into a home, the quicker it will sell for a higher price.

Type of Sale – Transactions that require third party decisions – short sales, probate, relocation, auction etc – may be overlooked by potential buyers because of the red tape involved with third party approval.

The less decision makers there are in a transaction, will net more showings and offers.

Condition of Property – Homes that are in excellent condition (highly upgraded, recently updated and well maintained) will produce lower days on market.  Homes that are in poor condition, do not qualify for financing will produce a lower net (cash only price!)

Maintain your home’s systems on a regular basis.  Deferred Maintenance will hurt when it is time to sell.

Motivation of Seller – When a seller needs to sell a property YESTERDAY a lower price must be set to attract as many buyers as possible.

Do not wait until the last minute to list your home.

Market Forces – Pricing should be bracketed and in a range.  Your listing professional should look at subdivision market activity over a twelve month period to determine several items:

1)      Is inventory rising, falling or stable?

2)      Are prices rising, falling or stable?

Once the above is determined for your home, then pricing should be set.

If inventory is rising and prices are declining, you will want to price your home at the lower end of the range.

If inventory is falling and prices are rising, you will want to price your home at the higher end of the range.

If inventory is stable and prices are stable, you will want to price your home in the middle of the range.

The above is called “absorption rate pricing”.

Solid internet marketing plans, such as mine, will not work if the above factors are on the low end of the scale.

An uncooperative tenant, short sale in poor condition in a declining market would be a very challenging sale.  Even if priced appropriately for every challenge the property would present would not sell quickly and definitely not get top dollar.

On the flip side, a clean vacant home, staged properly, easy to show, excellent condition in an appreciating market with declining inventory will sell very quickly for top dollar.

Top dollar does not mean a price that the seller picks out.  Pricing is a science and what I mean by top dollar is the “range” pricing mentioned before.  A range that a professional with a solid pricing background (such an appraiser orexperienced REALTOR® would come up with.)

Overpriced homes become expired listings!

When you are interviewing your REALTOR® to list your home – ask them these questions:

What is your experience with pricing?

What types of listing transactions have you handled & closed?

What is your plan to market my home?

Related Posts:

Selling Your Home:  Large Franchise or Small Indie?

How the Acronym “IDX” Can Sell Your House!

Originally posted at:  ReneeSellsLasVegas.info

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Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Comment balloon 11 commentsRenée Donohue~Home Photography • May 29 2011 04:15PM

Comments

Overpriced listings become expired listings.  Yes.  So many home sellers price emotionally and follow the market right down.  Start high and be ready for price reductions - that does not work in this real estate market!

Posted by Virginia Hepp - Mesquite NV REALTOR, Mesquite NV Homes and Neighborhoods - Search MLS (ERA - Mesquite NV Homes For Sale) over 7 years ago

Excellent tips for homes sellers in both Las Vegas and everywhere else!   

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) over 7 years ago

Renee - Tenants are my favorite, besides not being able to get in they don't care about how the property shows either.  While the seller may need them in there I really think in some cases the tenant may be costing the seller in the end.

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) over 7 years ago

Great post.... excellent tips!  And love the new photo!

 

Happy Memorial Day to you

Posted by Lisa Bear (RE/MAX REALTY CENTER) Waukesha,MilwWI Real Estate 2628935555 (Buyers Agent/Luxury/Lake/REO, listing package options) over 7 years ago

Renee, pricing is everything. Love the new profile pic.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) over 7 years ago

Hi Renne, yes. Tenants can be an issue. I've been lucky though. The tenants I deal with have been great with showings! Love your new photo Renee!

Posted by Jackie Connelly-Fornuff, "Moving at The Speed of YOU!" (Douglas Elliman Real Estate in Babylon NY) over 7 years ago

Renee, LOVE your new profile pic :)  I've been running wild since the tornado's and just saw it.  Too cute!  

This is a great article for Las Vegas home sellers.  Pricing is key, and having an agent that KNOWS the market is so important.  You are the Las Vegas real estate expert for sure.  I love your market stats that you share.  

Posted by Elizabeth Cooper-Golden, Huntsville AL MLS (Huntsville Alabama Real Estate, (@ Homes Realty Group)) over 7 years ago

I don't believe it's possible to be any more direct Renee.  An exceptional post with superb advice which associates and Sellers need to implement immediately.  Did I mention that I think the new Shack Diva's on fire and yet she still remains cool.  Well done!    

Posted by Kevin J. May, Serving the Treasure & Paradise Coasts of Florida (Florida Supreme Realty) over 7 years ago

Great list Renee.  I've suggested this one to be featured so more can see it.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) over 7 years ago

Renee, Your "spot-on" with this advice and it can be applied all over ~ and of course, your the right agent to choose when buying in LV!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) over 7 years ago

Renee

Great tips on getting more money for your Las Vegas home. Happy Memorial Day

Posted by Tom Braatz Waukesha County Real Estate 262-377-1459, Waukesha County Realtor Real Estate agent. SOLD! (Coldwell Banker) over 7 years ago

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