Three Simple Tips to Help You Get Your Home Sold Fast And At A Fair Price
If you’re like me, you’ve seen the billboards, bus shelter ads, and countless post cards that invade your community mailbox. Most of them read something “Like Buy Low, Sell For Top Dollar”, “Get The Most For Your Home”, or “Sold For 99% of asking”, “Sold Over Asking” “I get it sold” on so on.
Well I’m here to dispel the myth, selling your home fast and for a fair price isn’t exactly rocket science in today’s fast paced market. It just takes a little “know how” mixed with creativity to increase exposure and voilà…You’re home can make it to the front page of a post card, bus shelter or billboard. Here’s the three real secrets to getting your home sold…
1. Price 2. Condition 3. Exposure (accept my apologies, if you were expecting a more exciting formula)
So Listen Up:
Know your neighbourhood, really know your neighbourhood. This doesn’t mean asking Betty next door what she sold her home for (neighbours rarely tell the truth). Ask your realtor for a list of ALL of the activity in your area including SOLDS, ACTIVES, EXPIRED, and CANCELLED. Determine which homes are most similar to yours and establish market value for specific features such as double car garage vs. single car garage. Three bedrooms vs. four bedrooms, upgraded kitchen etc. Ask what the average days on market has been. Establish a price on mathematical facts not emotion. You can ask your realtor break down average cost per square foot for a home in your neighbourhood. I actually love doing this. It gives a great perspective for potential buyers and sellers. Know what the annual appreciation rate and factor that in to your asking price.
Prepare your home for sale. A potential buyer wants to move in and enjoy. Pack away all seasonal items that you won't be using. Homes typically have a 60 – 90 day closing, this means if you are selling in January you can expect to pack away all your sandals, swim suits and snorkels. Many realtors will include a home enhancement consultation for you before the homes goes to market. Utilize this service. It’s usually always worth it. The consultant can provide with a concise list of what you need to do before you hit the market. (I often refer to this service as a marriage saver)
TAKE NOTE! Realtor.ca is NOT enough. Depending on where you are located, there may be several real estate boards in which you will want your home listed on. For example: If you are selling a home in Burlington, Ontario, you should have your property listed on the three major real estate boards that surround Burlington (TREB Toronto Real Estate Board, OMDREB Oakville Real estate board and RAHB Realtors Association of Hamilton Burlington) and offer the biggest pool of buyers. Ask your realtor if they are members of these boards and if they will input your listing on all the above-mentioned boards.
Don’t discount the importance of realtor open houses and neighborhood exposure. Make your home available for neighborhood previews, broker open houses and public open houses. The more people who see it, the more likely you’ll receive an offer. There’s a buyer for every house!