- The home's condition
- Asking price
- Marketing strategy
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, 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-ˇtime 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.
