Your home is one of your most valuable investments. It is also represents a large emotional investment. You need to be able to step back and see it through impartial eyes. It helps to have a Neighbourhood professional that has seen comparable homes come through and do an evaluation of your home.
1. Why You Are Selling Your Home
Moving across the country, downsizing, moving to a larger home? Or is it because of divorce, job loss, financial distress. Buyers are looking for a distressed seller. Don’t give them one!
We usually find a negotiation friendly reason for you wanting to sell. Moving to be closer to your kids, buying a bigger home, kids have moved out house is too big. This way if asked we have nothing to hide and you don’t provide ammunition to your prospective buyers. Remember neighbours talk, so give them the negotiation friendly reason for the sale.
3. Before Setting a Price -Ask An Expert In Your Area
As Chestermere & Langdon realtors we can help you set your price right to start with. We have been in the homes that have sold and we know how yours compares. We also have our fingers on the pulse of the market. We know how your home competes in the market. Does it have special features that are rare, such as real lane, separate entrance, mountain view? Today more than ever it is important to set your price correctly and listen to the market.
Setting Your Home’s Sale Price
- If You Live in a Subdivision – If your home is comprised of similar or identical floor plans, built in the same period, simply look at recent sales in your neighborhood subdivision to give you a good idea of what your home is worth.
- If You Live on the Lake, on a half acre, or in an older neighbourhood where some of the homes have undergone renovations a determining a market value is more difficult. – As homes are renovated, built in different decades and have different lot sizes, such as lakefront homes, it is much harder to determine a price. As we have sold over 175 lakefront homes, many acreages and Chestermere condos. We are familiar with every area of Chestermere and Langdon and we can advise you what your home is worth as we have been in most of the homes that have sold over the past 23 years.
- If You Decide to Sell On Your Own – please beware that buyer’s will take the amount of the commission off the top of the price they offer. A good realtor will not cost you anything as you will get a higher price for your home.
4. Do Some “Home Shopping” Yourself
Ask us to show you what is on the market. This way you can evaluate your home through buyer’s eyes as you compare your home to others. Now remember BEAUTY IS IN THE EYE OF THE BUYER, so that stunning feature wall you put in 5 years ago may not have the same appeal to someone else. We can help you neutralize your home to appeal to a new owner.
5. When Getting an Appraisal is a Benefit
Sometimes a good appraisal can be a benefit in marketing your home. Getting an appraisal is a good way to let prospective buyers know that your home can be financed. However, an appraisal does cost money, has a limited life, and there’s no guarantee you’ll like the figure you hear. The buyers bank will not accept an appraisal that they did not order. Appraisers have not been in the homes that have sold, they can pick the wrong homes to compare yours with.
6. Tax Assessments – What They Really Mean
Some people think that tax assessments are a way of evaluating a home. The problem is that they lag behind the market, do not take into considerations the condition and upgrades to the home. They are also often wrong. It is good to be aware of what your tax assessment is, as the buyer will likely try to use a low one as a negotiation tool. As Chestermere specialists we are well prepared to handle this negotiation strategy as it is a common strategy used by buyers realtors.
7. Deciding Upon a REALTOR
All REALTORS are not the same! A local REALTOR has more than statistical information on the market they have been in recent sales and current listings as this is their primary market. They will have a marketing plan that will include a dedicated website with hundreds of buyers that are looking on it regularly. They will know what it takes for time and marketing to sell a home like yours in your neighbourhood. They will be able to answer any objections that a buyer may have.. Do the homes in Chestermere flood? Are your taxes high? What are the schools like? How is the traffic to Calgary?
8. Leave Room to Negotiate
We call it feel good room. If we list at your bottom price, we have no room to negotiate. Some cultures must get something off of the price or they will walk away. On the other hand if you are priced too high there will be no one to negotiate with.
9. Appearances Do Matter – Make them Count!
Appearance is so critical that it would be unwise to ignore this when selling your home. The look and “feel” of your home will generate a greater emotional response than any other factor. Prospective buyers react to what they see, hear, feel, and smell even though you may have priced your home to sell.
Scrub, scour, tidy up, straighten, get rid of the clutter, declare war on dust, repair squeaks, fix the light switch that doesn’t work, make sure all the light bulbs have been replaced.
10. Allow Prospective Buyers to Visualize Themselves in Your Home
You want them to imagine their furniture and family in the home. Avoid clutter such as too many nick-knacks, etc. Decorate in current colors, and place a few carefully chosen items to add warmth and character. Fresh flowers are always lovely. We have experience home-staging as well as accessories to finish off your home.
11. Make Your Home Comfortable!
I don’t know how many times a buyer has said it does not feel right! I know the house meets their criteria but they are running on emotion. What puts a buyer off? Smells. Too much air-freshener is as off-putting as the odors you are trying to cover. The best thing is to get rid of the odors not try to cover them up. We have a Ozone Machine that will kill most odors. Keep the heat around 70 degrees if you can. Too hot or too cold will make the buyer uncomfortable.
12. Be a Smart Seller – Disclose Everything
Fix it, permanently, don’t hide it, or cover it up. If it cannot be fixed disclose it to the buyers. You are obligated to disclose any defects that area not easily apparent, or may cost a lot to repair. If in doubt disclose in writing or it could come back as a law suit latter.
13. It’s Better With More Prospects
A good marketing program will bring in more buyers. A targeted marketing plan will bring out the potential buyers that need a home like yours. That being said you have to be realistic. There are a lot more prospects for a $400,000 3 bedroom home than there is for an $800,000 home.
14. Don’t Be Insulted By A Low Offer
It is good to keep your sense of humour when looking at an offer on your home. The first offer often comes in low. It is still good to have any offer come in. Nine times out of ten we can work with the offer to bring them around to a price that works for the buyer and the seller. We are professionals that will keep working the offer until it is acceptable or dead
15. Holding On To A House You Don’t Want Until The Market Gets Better.
The only market we know is the market right now. The market does not always get better, sometimes it gets worse! Putting renters into a pristine, well-loved home can just result with a beat-up, run down home that needs a lot to bring it back. Having your equity tied up will cost you more in interest on your new higher mortgage. You will also miss out on investment opportunities.