Selling OBX property involves more than entering the property information in the MLS and placing a sign on the property. For starters, it takes years of experience learning the nuances of this coastal market. Real estate laws, lending criteria, values and buyers are changing all the time. What was a hot button for a buyer five years ago may now turn a buyer off. Furthermore, how to effectively expose a property to the most potential buyers has drastically changed in recent years with the proliferation of social media and the smart phone. Scott Team Realty is here to help you price the property, prepare it for sale and guide you through the sales process.
If you are just beginning to think about selling OBX property, then you may want to view our most commonly asked questions for sellers about selling their Outer Banks property. It’s also a good idea to review the working with real estate agents brochure.
At Scott Team Realty, we will provide you with the facts, figures and information necessary for you to make the best selling decisions for you and your family. This includes information on the current real estate market, recent sales in your area and your competition. We’ll also point out things you can do to make your property more appealing to buyers and devise the most effective marketing plan to expose your property to the most potential Outer Banks buyers in the shortest time period. Each property and seller is unique and deserves a unique plan of action to help get the most for their property.
Here is an outline of a few of our services offered in the marketing and sale of your property:
- Review the listing and selling process so you are comfortable with what to expect
- Provide you with information on the most recent comparable sales and your toughest competition
- Give you our opinion of what you can expect a buyer to pay for your property
- Recommend ways to increase the market value of your property
- Expose your property to the most potential buyers through print, Internet and other media
- Provide you with regular updates on activity on your property and its market segment
- Present the purchase agreement along with expected closing costs
- Provide you with information on negotiating and help you find the buyer’s highest bid
- Track all contract deadlines and make sure those deadlines are met
- Provide you with information for transferring utilities
Click here for a complete list of services offered or a market consultation.
Factors That Affect Selling Outer Banks Property
There are three main factors that determine how marketable your home–price, financing, and time.
If your home is priced too high, you must be willing to wait much longer for your home to sell. Either it will take that much longer to find someone to pay more than the home is worth, or the market will eventually catch up to the asking price of the home through inflation.
You may not realize it, but the financing of your buyer can have a tremendous impact on the success of selling your home. Try to offer very attractive financing options. Consider carrying the financing yourself at a below-market interest rate or preparing your home for government financing. This could open the door for many buyers that otherwise wouldn’t even consider your home.
If your time frame is important then you must be willing to lower the price.
Pricing Your OBX Property
When selling OBX property, of course you want to get the full market value. The first step to getting the best price is to determine the property’s value. As your REALTOR®, we can help you set an asking price by taking the following factors into consideration:
- Your property’s value often depends on recent selling prices of comparable properties in your area. After reviewing the selling prices for similar properties, we will make a recommendation of an asking price. This price takes into account the features of your proprety and current market trends.
- Buyers most likely look in the price range determined by their monthly payment ability and down payment. Buyers are often very knowledgeable in their price range and purchase by comparison. Unreasonable asking prices are an immediate turn-off.
- Inviting a potential buyer to make an offer shows that you are willing to bargain. However, if your asking price is significantly above market value, the buyer’s offer will most likely be well below market value.
- It’s necessary to offer pricing, terms and conditions that are competitive in your market. This will help you sell faster and get the full market value.