Why does a buyer pick one house over another? As we contemplate the question let’s start at the beginning – the decision to buy. Most buyers know where they want to live. This is usually before they call a REALTOR and before they go on the internet to search for homes.

Here are 3 external factors that play into a buyers decision and as a seller you can’t control:

1. Location. The convenience to work, shops, hospitals, family, friends, etc. The preference to be on one side of town versus another.

2. School District and/or a specific school. If a buyer has children this always plays a major role in the decision process unless the children attend private school. I have a client who will only live where his kids can go to XYZ elementary school. He has moved twice and both times the search began with homes within the boundaries of the school followed by neighborhood and then home features.

3. Neighborhood. Everyone has his or her own idea of the perfect neighborhood. A few things a buyer might consider:
- Community Amenities. Jogging trails, park, swimming pool, clubhouse
- Gated community or not
- Neighbors
- Community feel
- Home Owner Association. This is huge! Buyers want to know how much are
HOA dues? It’s important because they need to be able to afford dues on top of
other housing expenses.

I have sellers sometimes say I don’t know how that home in the other subdivision sold, but mine is still on the market! We are the exact same house, but ours is better because we are in a gated community. Remember about those circumstances you can’t control? Your house might be identical to the one in the other subdivision, but the “other” house is not in a gated community and unfortunately for you the buyer does not want to live in a gated community. Need I say more? ?º

Since you can’t control everything when putting your house on the market there are some things you can control. First, Be Informed! You need to know what’s going on around you because it can affect you. As a seller before putting your house on the market ask your REALTOR:

- How many homes are on the market in my subdivision?

- How many of those homes are similar to mine (square footage, one or two story, bedrooms, bathrooms, lot size, pool)

- What’s the average Days On Market (DOM) in my subdivision?

- What’s the average DOM in my general area? Might not be directly in your subdivision, but its still competition right?

- What is the total number of homes on the market in my general area? Of those how many are similar to my home?

When your REALTOR provides you with this information you will begin to see that maybe one-story 3 bedroom homes are most popular. Or you may find that people are buying homes under a certain price point. Your REALTOR is going to suggest a sales price, but ultimately it’s your decision. The information above will help you know where you stand in the market and how you should price your home. Plus the information will help you make the decision if you should stay or should you go! So before you rush out and put a For Sale sign in your front lawn, be informed. If you don’t it will be frustrating when your home sits on the market week after week or your REALTOR keeps calling about that price change!