With Spring around the corner, a lot of you will have been keeping an eye on the market and preparing yourself to list your home in Spring. Well, with Spring officially starting on March 20th, we have around 2 weeks to get you there and ready.
As always, it’s important to take the necessary steps when listing your home to prepare you for success. Well, in a market that is going to be at the height of competition, that has never been more important now.
When the public keeps an eye on the market, a lot of the time that usually means sales figures, prices per square foot etc. Well if you’ve been looking at other aspects, such as the amount of listings on the market, you will have seen we are at record highs. This has been the case for a while now. On top of that, sales are at 10 year lows right about now. So to sum up your situation when listing your property - You are competing in a very competitive market with less sales taking place.
For that reason, it is imperative you take the necessary steps to get your home on top of the priority list for potential buyers:
You don’t always have to stage professionally if you don’t want to spend the money. It’s free for you to keep the home in a staged like state. Vacuum those floors, wipe those countertops, declutter those shelves and take away unnecessary furniture items that clog your space. Cleaning the space and opening it up goes a long way, especially if your in a small sized square foot condo.
2. Photographs
This should be an absolute must! This will not cost you as a seller AT ALL. If your REALTOR is not hiring a professional, either change REALTORS or ask them to get a professional in to take photos. There is too much competition now for this not to be done. These photos are the face of your home and will, 99% of the time, be the deciding factor on whether a potential buyer wants to view your home or not. Too much weighs on the photos to pass them by. Don’t accept no for an answer on this one!!!!!
3. Open Houses / Showings
If at all possible, open your schedule up to allow more open houses and a variety of showing times. The more opportunity to get people inside your home, the better chances you have of being successful in this market. This may require you to speak with your tenant if necessary and plan a schedule that works for you both in advance to avoid any confusions in the immediate future. It also helps them prepare in advance, something they will be grateful for!
4. Pricing
Straight up here, you have to get this one right. Listen to your REALTOR. This market is not the market to be trying to test higher than market value pricing, it’s also not the market to test low pricing and try to encourage multiple offers. If you price too high, people will just not try as they have so much to pick from. If you price too low, you run the risk of not getting the price you honestly need/want if you fail with multiple offers.
5. Pre-Inspection
This is an added option, one that is rarer to find in most cases and will DEFINITELY make your home stand out. An inspection is 9 times out of 10 going to be one of the subjects a potential buyer will include in their offer, so having the home pre-inspected is a great way to make you stand out. By doing so, the buyer knows the quality of the home at the forefront and they are more inclined as they don’t have to spend the money on an inspector themselves. It also helps with a quicker close (potentially) and reduces subjects on an offer for you, the seller.
Follow these 5 steps and you’re setting yourself up for success! Don’t follow these steps and you end up fighting in the middle for interest and hoping to come out on top.
With a couple of weeks left, now is a great time to get these plays rolling and in the works, ready for that Spring boom!
As always, it’s important to take the necessary steps when listing your home to prepare you for success. Well, in a market that is going to be at the height of competition, that has never been more important now.
When the public keeps an eye on the market, a lot of the time that usually means sales figures, prices per square foot etc. Well if you’ve been looking at other aspects, such as the amount of listings on the market, you will have seen we are at record highs. This has been the case for a while now. On top of that, sales are at 10 year lows right about now. So to sum up your situation when listing your property - You are competing in a very competitive market with less sales taking place.
For that reason, it is imperative you take the necessary steps to get your home on top of the priority list for potential buyers:
- Staging / Home Interiors
You don’t always have to stage professionally if you don’t want to spend the money. It’s free for you to keep the home in a staged like state. Vacuum those floors, wipe those countertops, declutter those shelves and take away unnecessary furniture items that clog your space. Cleaning the space and opening it up goes a long way, especially if your in a small sized square foot condo.
2. Photographs
This should be an absolute must! This will not cost you as a seller AT ALL. If your REALTOR is not hiring a professional, either change REALTORS or ask them to get a professional in to take photos. There is too much competition now for this not to be done. These photos are the face of your home and will, 99% of the time, be the deciding factor on whether a potential buyer wants to view your home or not. Too much weighs on the photos to pass them by. Don’t accept no for an answer on this one!!!!!
3. Open Houses / Showings
If at all possible, open your schedule up to allow more open houses and a variety of showing times. The more opportunity to get people inside your home, the better chances you have of being successful in this market. This may require you to speak with your tenant if necessary and plan a schedule that works for you both in advance to avoid any confusions in the immediate future. It also helps them prepare in advance, something they will be grateful for!
4. Pricing
Straight up here, you have to get this one right. Listen to your REALTOR. This market is not the market to be trying to test higher than market value pricing, it’s also not the market to test low pricing and try to encourage multiple offers. If you price too high, people will just not try as they have so much to pick from. If you price too low, you run the risk of not getting the price you honestly need/want if you fail with multiple offers.
5. Pre-Inspection
This is an added option, one that is rarer to find in most cases and will DEFINITELY make your home stand out. An inspection is 9 times out of 10 going to be one of the subjects a potential buyer will include in their offer, so having the home pre-inspected is a great way to make you stand out. By doing so, the buyer knows the quality of the home at the forefront and they are more inclined as they don’t have to spend the money on an inspector themselves. It also helps with a quicker close (potentially) and reduces subjects on an offer for you, the seller.
Follow these 5 steps and you’re setting yourself up for success! Don’t follow these steps and you end up fighting in the middle for interest and hoping to come out on top.
With a couple of weeks left, now is a great time to get these plays rolling and in the works, ready for that Spring boom!
Until next week,
Jay Mcinnes
T: 604.771.4606
jay@mcinnesmarketing.com
Ben Robinson
T: 604.353.8523
ben@mcinnesmarketing.com