We'll Help You! By applying:
1. The marketing approach that we use when marketing your property.
2. The Pricing Strategy we have found to be effective.
3. The specific advertising methods we use to generate a fast sale at top dollar.
1 Marketing Approach
In my experience, buyers buy a home for aesthetic reasons first, and then they will back up their emotional decision with logical reasons.
Here's a brief "Wish List" of what buyers generally look for in a home.
1. Quiet, peaceful, no-traffic neighborhood.
2. Nice views, especially water views.
3. A modern kitchen with light colored cabinets and tile/granite countertops.
4. Interior of home should be light & bright.
5. Appliances and mechanical/electrical systems should be up-to-date.
6. Roof that will be trouble-free for the foreseeable future.
7. Polished hardwood floors, ceramic tile, or new/newer carpeting.
8. Well-maintained and attractive landscaping.
9. Usable outdoor living spaces such as decks and patio (preferably some private areas)
10. General emotional/intuitive feel of the property and surrounding area/neighborhood.
Therefore, this leaves you, the seller, two options, if you want to sell your property:
1. Fix the obvious features that are lacking and obtain the best bids before the buyer sees the property and then, sell the property to the buyer. This option generally will net you more money.
2. Adjust the price of the property to reflect the need for upgrading the property to the generally accepted standards of most buyers. This option generally will net you less money because the buyers have a natural tendency to scare themselves about how much it will cost to get the work done and most buyers cannot "mentally" move-in to a house that doesn't have the features already in place. It is easier for a buyer to keep looking for another property rather than risk underestimating the costs to bring the property up to their standard.
3. Many sellers think that there is a third option, which sounds like this: "According to my own personal standards as the seller, I think the kitchen is just fine with its Formica countertops, and the shag burnt orange carpeting is okay as long as it's cleaned. If the buyer wants, maybe I'll credit them some money to clean it."
2 Pricing Strategy
There are three types of overall market conditions when selling your home:
Seller's Market - This is when the inventory in a specific area is low. Properly priced homes generally sell within 14 days to 21 days maximum. If your property has not received an offer within this time period, it is priced too high. Typically, the overall prices of homes will begin to appreciate when the backlog of homes for sale are sold and the trend after three or four months indicate that the seller's market will continue for the next few months. Otherwise, it is just a spike in the market. It is important to note that some areas in the GTA and surburbs can be in a hot seller's market while others may not.
Normal Market - This is when there is no real perceived advantage to either the buyers or the sellers. Properly priced homes should sell within 30 to 45 days.
Buyer's Market - This is when you have lots of homes on the market for sale in every price range and area. Properly priced homes should sell within 45 to 60 days. In this type of market, sellers must do all the necessary things to make sure their home is staged and presented well to the public and it must be priced at or below the last sale that was comparable to their home. Usually, homes are declining in value in this type of market. Therefore, the sooner you sell, the better it is for you.
Good to be Aware of the following:
1. The majority of buyer activity on a new listing occurs in the first two to three weeks of the marketing period. This is because real estate agents have active prospects that they are currently working with to find a home in a specific price range. When a home is newly listed, real estate agents will arrange for their prospects to see the home. For this reason, it is important that sellers have their home in the best condition and at the right price at the first exposure to the market.
2. The wrong price attracts the wrong buyers and the right buyers won't see it. Most buyers represented by real estate agents will not look at properties priced way over its fair market value. Buyers are "picky enough". Real estate agents don't want their buyers falling in love with properties that they can't afford to buy. If a property is priced at $525,000 when it should be priced at $475,000, the buyers looking for a home with a fair market value of $450,000 to $500,000 will not be shown this home.
3. The obvious value of the Multiple Listing Service (MLS) is that 80% to 85% of all homes sold in the area are sold through the Multiple Listing Service. However, the real estate agent, not the company they work for, that you hire to sell your home is the critical factor to exposing your home to both the other real estate agents and the general public itself in order to get your property sold. It is the individual agent that has to network properly with the other key agents in the other companies in order to get your home sold.
4. A real estate agent has no control over the market, only the marketing plan. Real estate prices go up and down, just like the stock market. You should never select a real estate agent based on the price they tell you. You should first select the real estate agent based on the services provided and competence. Then, you and the real estate agent should select your initial marketing price based on the pricing strategy you select.
5. The value of a home is determined by the amount that a buyer is willing to pay given a set of circumstances. The value of a home is not determined by the cost invested in a property, but by the value derived from it.
3 Marketing/Advertising Methods
There is MUCH MORE that we can do for you to ensure your home is sold at top dollar value. We'll be happy to sit down with you and discuss just how easy it can be to move on to your new life. Please leave your contact information here: Contact Us and we'll contact promptly to offer assistance.