Five tips for a quick home sale

Posted: November 30, 2009 in General Information, Sellers
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Need to sell your home quickly and at a good price? Here’s how.

The real estate market is beginning to recover across the country. According to the Canadian Real Estate Association, prices have rebounded from an average selling price of $291,788 in September 2008 to $331,682 this September.

Whether it is historically low interest rates or optimism about Canada’s economic recovery, people are beginning to think about moving house.

So how do you ensure your house is not the one sitting on the market two months after you have decided to sell? Here are five tips to ensure you make a quick sale.

* Video: Danger of a Canadian housing bubble

1. Price according to conditions
“The top five percentile of homes price-wise tend to take longer to sell because there is a smaller market, and it tends to be a more volatile market in a boom and bust cycle.

Canadian So, right from the outset, you want to make sure you do not price your home at the top of the market.

Having your house priced according to current market conditions and having maximum exposure to the greatest number of buyers is always a good idea. What you’re doing as a home seller is competing with a lot of other sellers in the marketplace.

Price is critical in a soft market, but buying is (about) first impressions, and there are two: the look of the place and the price.

Then, there is also what we call social proof, meaning that if a house stays on the market for a long time, buyers automatically think there is something wrong with it.

Everyone connected to real estate seems to agree — you need to price it right the first time to avoid this stigma, especially if you are hoping for a quick sale.

2.Stage Your Home
Getting your house ready to sell can help you make the emotional transition from one home to another. Some people like to do this before they call in a professional. Either way, this transition is important.

“It’s not home anymore, it’s product on the market,” says Tricia Scott, owner of Vancouver, British Columbia’s Ready Set Show Staging Inc. “You need to separate yourself from the personal side of the home. Staging helps — a staged home versus an unfurnished home sells much faster.  Be sure to check out the Re/Max video serie on staging entitled  “Are You Fit To Sell”  hosted by Carla Woolnough host of TV show “How to Stage Your Own Home.”

With the popularity of home decorating and renovation programs on TV, people are more accustomed to looking at houses with an eye for design. Scott says there is a good reason why property developers use show suites to sell new homes — people want to come into a house and see themselves living there.

Have the house in good condition. When the market is soft, people are pickier. If you can renovate on a budget, then it’s worth it because a lot of people have no cash at all — they are looking for a turnkey operation.

3. Work with a pro
To ensure a quick sale, you have to be sure your buyers can afford to pay what they offer. Working with a Realtor can help you do this, as Realtors take precautions to be sure their buyers are not overreaching their grasp. They have also been trained and licensed in working with buyers and negotiating contracts that do not, as a rule, tend to fall through.

Realtors also know what is selling. They have access to a database of statistics that the rest of us cannot use and can help you set a price that will make your house attractive to buyers without undercutting your bottom line.

An agent will also bear all the costs of advertising your home. This can seem minor at first, but newspaper ads and signage do add up.

When looking for a Realtor, pay attention to the sales in your neighborhood and attend open houses. Observe Realtors in action and ask friends for their referrals. Every Realtor is different. Your agent works for you, and it is up to you to be a good and thorough employer.

4. Go where the buyers are
If you want a quick sale at the best price, it only makes sense to compete on the biggest market — and there is no question that the biggest market in Canada is the Multiple Listing Service, or MLS. A full 90 percent of all home sales go through the MLS, and while the Canadian Competition Bureau recently suggested the MLS may be required to open its doors to non-Realtors, that has not happened yet.

Going it alone means relying on yourself, and while that may sound appealing, the numbers argue against it.

5. Create word of mouth
Finally, if you have a home that one of your friends or acquaintances has often admired, put the word out to your friends before you talk to anyone else, and ask them to spread the word. Doing so could help you avoid the stress of staging and hosting open houses and get you the quick sale you are after.

Looking to sell your home? Let the 23+ years of experience of Dale Dyer work for you. Call at 519-241-1122 for a priced-right home that will sell. Or CLICK HERE to quickly find out what your home is worth.

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