Friday, July 29, 2016

Sellers Were Asking: The Price is Right

The Price is Right

Price is one of the first variables most potential buyers look at when searching for a home so, it’s not surprising that pricing right is of the utmost importance when introducing your home to a competitive marketplace. 

Many homes are simply not looked at if they are not in their correct price range. While it’s crucial to take the prices of homes recently sold or actively for sale in your immediate neighbourhood into account, it’s also wise to honestly assess your home’s condition to those same comparable properties. 

Buyers will choose the best home at the best price they can get. It is unwise to overprice a home, assuming a higher asking price will fetch a higher selling price. Although, if your home has been updated and is in superior condition to the homes it is competing with, go for it! 

By the time an overpriced home is lowered to market value, the home may have been for sale too long, and receive less than desirable attention. Or, in the worst case scenario, the listing will expire and the home will remain unsold. 

On the other hand, a home priced below market value will sell too quickly and may receive multiple offers, but risk leaving thousands on the table and not in the seller’s pocket. Most correctly priced homes will sell in a reasonable amount of time and get close to the asking price. 

Thinking of Selling?  Not sure where your home would be priced in today's market?  Reach out for a complementary assessment here.

Sunday, July 24, 2016

Sellers Were Asking: Why Should I List With You?

Why Should I List With You?

Realtors are always happy to review their services with prospective sellers. Although it is best to discuss these one-on-one, the following will prepare you for an initial interview. 

  • Visit your home and take notes on the size, condition, and neighbourhood. 
  • Together, we will establish a price for your home in relation to the comparative neighbourhood home values (based, in part, on the sale prices of these properties). Also, price considerations are determined by the flow of buyers through the marketplace and the pressures of current financing.
  • Prepare and discuss a marketing plan for your home. Since every home has its own unique characteristics, talking with you and finding out what first attracted you to the home is often what will again sell it. All plans will evolve as the marketing process begins. 
  • Coordinate the efforts of all those involved in the sale; you, lawyers, lenders, insurers, building inspectors, surveyors and movers. 
  • Thoroughly explain the same process. In any profession, there is industry jargon that sometimes appears to be meant to confuse, not simplify. When an offer is brought in, we will sit down and discuss it completely. By this I mean, what are all your options? How will negotiation techniques affect the outcome? Have your objectives changed since we first discussed our marketing strategy?
If we might be able to help, please reach out, or 905-631-6363.

Thinking of buying?  Please visit the For Buyers section on our website for a breakdown of the process!  

Thinking of selling?  Please visit the For Sellers section on our website for a breakdown of the process!