The real estate market has changed
The market is always changing. Although it is still a seller’s market, the power is shifting toward home buyers again. This means that home sellers have to give some effort into getting ready and selling their homes. They should do their very best to put their homes in their most saleable condition.
The devil is in the details
Clean and then clean again. Declutter and then declutter again. Hire professional to help you make your home as clean and free of clutter as possible. If your home looks like a magazine advertisement you will do well. Buyers are looking for reasons to eliminate your home from their consideration. It is amazing how easily a dirty and cluttered home will do just that.
Know your buyer
Sure, everyone lives in some sort of home but think about who is most likely to buy your home —> and appeal to them with all of your marketing material. That means if your home is in a great school zone, you will likely be on the radar of home buyers with children who want to live in that specific neighbourhood. Your MLS listing and feature sheets should have text specially designed to appeal to their wants and needs.
On the topic of marketing materials, make sure your agent pays for the most premium photography he or she can find. Your buyer’s search begins online. You certainly don’t want to take yourself out of the game with lousy photos.
List your home for the right price
In Waterloo Region, statistics tell us that homes sells for within 3% of the listing price. If you price too far beyond what the market believes the home is worth, it will not sell.
Ask your realtor the best way to prepare your home for sale
Different real estate markets have different standard practices. For example, some markets value home staging to a high degree. Others don’t.
It has to be a good fit. You will be working together for a few weeks, maybe longer. Communication is the most important thing. Experience, professionalism, trust, likability…find someone that you want to work with. When interviewing, set your BS detector to high.
Make it easy to buy
Allow for flexible showing times. Allow for weekend open houses. Selling a home is inconvenient. You will have to alter your routines but know this —> if your home is hard to view, buyers and their agents will get the feeling that it will be hard to buy.
Be prepared for conditions
When buyers are not in a bidding war, you can usually expect them to make a conditional offer. Offers can be conditional upon various stipulations such as the buyers receiving financing, or your home passing an inspection. These conditions are very common and normally last for five to seven days
Consider all offers
Your first offer might be your best offer. Do not get positional and stubborn. The market sets the price, not you and not your agent.
Review the offers and find out if you can everything about the buyers. A lot of real estate agents do not like to present offers in person but I think you should request that. It gives you and your listing agent a chance to ask questions face to face with the buyers representative and you will be surprised how much you can learn when that happens.
Be prepared to negotiate
Maybe it isn’t all about price. Maybe closing date, chattels, or other things can be considered to get the deal done. Whatever the case, now that the market is heading for a new equilibrium, you will likely have to do some negations.