| Giving You Knowledge & Power To Buy And Sell Real Estate. |
Your-Real-Estate-Resources.com |
Real Estate Investments >> Real Estate Location \ Investing In Real Estate \ Real Estate Investing \ Real Estate Sales Tips
_______________________________________________________________________________________________
| Destroy The Greatest Real Estate Myth And You’ll Come Out Better Off! By Noel Peebles |
We’ve all heard it said, “The most important thing in real estate is LOCATION, LOCATION, LOCATION!” Some in
the real estate industry have been peddling that line for years. As many will say, “it’s the reason why real estate
does or does not sell.” To that I reply, “RUBBISH, RUBBISH, RUBBISH!”
Sure, location is important, but to elevate it to the status of “the most important reason” is in my opinion,
unjustified. In truth, there are 4 key factors that determine whether or not real estate sells. They are:
- PRICE
- CONDITION
- MARKETING
- LOCATION
You’ll notice I put location last on the list. Now don’t get me wrong, location is important, but to say it is the most
important factor in any real estate sale is just not true! Let me explain…
the real estate industry have been peddling that line for years. As many will say, “it’s the reason why real estate
does or does not sell.” To that I reply, “RUBBISH, RUBBISH, RUBBISH!”
Sure, location is important, but to elevate it to the status of “the most important reason” is in my opinion,
unjustified. In truth, there are 4 key factors that determine whether or not real estate sells. They are:
- PRICE
- CONDITION
- MARKETING
- LOCATION
You’ll notice I put location last on the list. Now don’t get me wrong, location is important, but to say it is the most
important factor in any real estate sale is just not true! Let me explain…
Investing In Real Estate
article continues...
Of the four, location is
perhaps the least
important because of one
often overlooked point,
which is – Location cannot
be changed by anyone in
the real estate negotiation
process. Just think about
that for a moment.
Location cannot be
changed by anyone in the
negotiation process....
article continues...
Of the four, location is
perhaps the least
important because of one
often overlooked point,
which is – Location cannot
be changed by anyone in
the real estate negotiation
process. Just think about
that for a moment.
Location cannot be
changed by anyone in the
negotiation process....
So, unless you can put your house on wheels, it will stay where it is, meaning you (and your potential buyer) must
accept the location as a fixed negotiating point.
Now, there are possibly a few exceptions. For example, it is not uncommon to move a house on the back of a
truck from one location to another. In fact, I once watched as a multi-level hotel was lifted and moved on rails from
one side of a busy city street to the other. It wasn’t a small building, so I couldn’t believe what I was seeing!
Also, without physically moving a property, it is possible in some circumstances to have a property rezoned by the
local authorities. It does depend on your laws relating to where you live. However, I have seen properties triple in
value when they were rezoned from ‘rural’ to ‘commercial’. But, as I say, the laws are different from country to
country.
Anyway, unless you can alter the location or status of the location, you must generally accept the location as
being fixed. Which brings us to the other three points – price, condition and marketing. All three are variables
that you can control. Here's what I mean:
1. You can raise the condition of your property to meet your asking price. Or...
2. You can lower your price to meet the condition of your property. And then...
3. You can run a powerful marketing campaign that makes your property stand out from every other property in
town.
Do you see what I mean? You can change the price, change the condition and change the marketing - but the
location of your property remains static.
So, to say that LOCATION, LOCATION, LOCATION is the number one reason why a property does or does not
sell is just a real estate myth. The truth is; price, condition and marketing rate as more important factors in the
real estate negotiating process.
© Noel Peebles, Market Leaders ebooks.
accept the location as a fixed negotiating point.
Now, there are possibly a few exceptions. For example, it is not uncommon to move a house on the back of a
truck from one location to another. In fact, I once watched as a multi-level hotel was lifted and moved on rails from
one side of a busy city street to the other. It wasn’t a small building, so I couldn’t believe what I was seeing!
Also, without physically moving a property, it is possible in some circumstances to have a property rezoned by the
local authorities. It does depend on your laws relating to where you live. However, I have seen properties triple in
value when they were rezoned from ‘rural’ to ‘commercial’. But, as I say, the laws are different from country to
country.
Anyway, unless you can alter the location or status of the location, you must generally accept the location as
being fixed. Which brings us to the other three points – price, condition and marketing. All three are variables
that you can control. Here's what I mean:
1. You can raise the condition of your property to meet your asking price. Or...
2. You can lower your price to meet the condition of your property. And then...
3. You can run a powerful marketing campaign that makes your property stand out from every other property in
town.
Do you see what I mean? You can change the price, change the condition and change the marketing - but the
location of your property remains static.
So, to say that LOCATION, LOCATION, LOCATION is the number one reason why a property does or does not
sell is just a real estate myth. The truth is; price, condition and marketing rate as more important factors in the
real estate negotiating process.
© Noel Peebles, Market Leaders ebooks.
| Terms and Conditions, Privacy Statement, Disclaimer © Copyright Market Leaders Ebooks. All Rights Reserved. |
 | |  | |  | |  | |  |
 | |  | |  | |  |
| FREE sample pages from “Home Selling Secrets Revealed” ebook. Learn the secrets to selling your home... in the shortest time... for the best price! |
