Three Reasons A Buyer Chooses The Home They Did
There are three reasons a buyer chooses to buy a home:
- Location
- Condition
- Price
Let’s take a look at each:
Price
First, you need to know if your neighborhood and price range is in a buyer’s market or seller’s market. A buyer’s market is characterized by large inventories of 6 months supply or higher, fewer buyers making offers, low offers, and many seller concessions. A seller’s market is characterized by low supply of 6 months on hand or less, heavy buyer traffic, multiple offers, and close to full price or full price offers.
Bankers, buyers’ agents and buyers all have access to the same information that your agent has given you. If you overprice for the current market, your potential buyers won’t get their loans approved.
Condition
Allow your real estate agent to help you market your home by putting it in the best condition possible. Buyer’s pet peeves may be easy items to fix, but you don’t want your house to go to the bottom of their list because you failed to paint, mow, replace the carpet, etc. Sometimes you have to invest a little money to make money.
Location
You can’t do much about your home’s location, but you can make your home more attractive with lovely landscaping, fences to block out ugly views and sounds, a lower price and immaculate condition. If you do have a great location, don’t overprice.
It’s hard not to be sentimental about the home you’ve lived in for years, but to buyers, your home is a commodity. Like you, they simply want to make a good deal on a home they love.
You’ll quickly find out what real estate agents and their buyers think of your home. If you get a quick offer, you know you priced it right for the location, condition, and the current market.
If you don’t get an offer within a couple of weeks, or whatever period is normal for your area, there’s something wrong.
Author: Blanche Evans
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Why Use AMPI?
AMPI is the national association of real estate professionals that have, since 1956, gathered under laws and codes of ethics and conduct to create a reliable, trustworthy an efficient real estate environment in Mexico.
AMPI consists of separate autonomous sections all throughout the nation, as well as more than 4,000 associates and affiliates.
Each section is independent and has its own board of directors, only surpassed by a national board of directors comprised of twenty associates from all over the republic.
Developed over the years with the input and knowledge of its members, AMPI is much more than just a collection of offices.
AMPI has been a solid and recognized institution in Mexico for the past 27 years. It was originally established in 1956 and was consolidated in 1980. AMPI is currently represented in all the principle cities and regions of Mexico stretching from Tijuana to Cancun.
The Riviera Nayarita, Vallarta and Compostela chapters of AMPI are dedicated to promote the best practices in real estate by providing its members with education to reinforce the standards of ethics that give our industry the credibility which our clients deserve.
AMPI is committed to giving our membership access to a multiple listing service that forms the platform from which our industry can expand locally and into other markets while giving our members precise and up to date information that is vital to continuous improvement and growth.
