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Found 94 blog entries about For Home Sellers.

Before you sell your home in Edmonton or any of the surrounding communities, it might be helpful to learn about the different kinds of home buyers available to you. Together, these different buyer groups form the ‘whole’ market.

You might want to think of the home sale market like a ‘layer cake’. Each layer has particular characteristics & the quality of the buyers you meet & your outcome may be affected by which layer you sell into. 

The layers of the cake might be described as follows:

-          Retail layer,

-          Wholesale layer &

-          Sub Wholesale layer 

Here is a quick description of each layer:

Retail Layer

IF you want to sell your home for top dollar, this is where you need to be.

This is the top layer…

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You seen those signs at the side of the road, ‘We Buy Homes for Cash’. Did you ever wonder what these people were about and what they offer home sellers?

The original concept was simple. You accept a submarket price in exchange for a quick easy no fuss transaction.

There appears to be 2 types of instant buyer out there in today’s market.

Original

You and the buyer agree on a price. The house is sold quickly and you get paid. The buyer may then complete a few simple repairs (or not) and will then bring the home into the conventional market and attempt to sell for a higher price. Some of these cash buyers may rent out your former home for a few years, before selling.

There are not normally any fees attached to this kind of program.

If…

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Is your house not selling? Adjust your ‘goody to price’ ratio.

What do I mean by this?

When buyers are looking at your home, they are comparing it to others for sale at the same time.

Who sells first?

The home seller that offers the best ‘bundle of goodies’ included when considered against your asking price.

If your ratio is set wrong, you will not sell.

If your ratio is set correctly, you will sell in a reasonable period of time and perhaps with multiple offers.

Essentially, you have 2 methods to adjust the ratio.

1. Adjust your price down, so that when compared to the bundle of goodies on offer, your price is fair.

Or

2. You could include more goodies.

The easiest goody to offer is a fast possession date. Other…

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Are you uncomfortable selling your existing home before you have a new one selected?

Do you crave certainty in terms of knowing how much money you have to invest in your next home?

Why not take the pressure off? Consider a sale and leaseback.

How would this work?

Sell your home to a buyer at a certain price and with a possession date that is sooner rather than later.

Don’t move out!

Instead, you rent the house back from your purchaser for a short period of time, for example 2 to 4 months, whilst you go about searching for and selecting your next home. For your next home, you can negotiate from a position of strength, knowing that you have money in the bank and some time to get organized.

At the end of the rental period, you move…

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Occasionally someone will ask me why we charge a simple flat fee for our home selling services, rather than a more traditional percentage-based commission.

I ask why not?

We treat all our home selling clients the same way. We do the same job for each of them. We carry out the same work for each of them. We strive to achieve the best possible outcome for each of them.

So why we would charge them different prices based on the value of their home?

Perhaps we should be ask those REALTORS® that charge a percentage why they do it their way?

They might argue that a percentage model encourages them to get the most amount of money for their clients. The actual difference in commission is so small if they get another thousand or two for the…

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All markets are different, but in Edmonton and area, REALTOR® ® services are usually offered the same way across the industry. However, in recent years a few innovators have come along that you should know about. Here are some options.

1. Traditional REALTORS®

Service quality will vary. Traditional commissions in our market are based on a “7 and 3” formula. In other words, the total commission is based on 7% of the first $100,000 of the sale and 3% of the balance above that amount. For example, a home that has sold for $400,000 would create a commission due of $7,000 plus 3% of the balance of $300,000 or $9,000 for a total of $16,000. Usually if a traditional REALTOR® is working with the buyer and seller, they will pocket the entire commission.…

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In April, sales volume blew through the roof compared to last year, although price gains moderated. With strong buyer demand and lower inventory, we anticipate brisk activity during the next few months.

Sales Values

In April 2021, average sales prices stayed high at $395,567, just below the average price of $396,006 in March. Have we seen the peak for the year? No one knows for sure and certainly in a normal year, we would see sales prices peak in May and June. 

Days on Market

Our days on market stat. continues to amaze. Buyers have been snapping up homes ever more quickly since the start of the year. Average days on market in April was only 39 days, compared to 62 days in 2020 and 57 days in 2019.

Sales Volume

Last year…

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Unless you have sequestered yourself to a desert island somewhere you have probably heard that the housing market is on fire. And it is. Metro Edmonton home values are currently trending about 10% ABOVE last year’s values and sales volume is up by 67% too. It’s been a hectic year so. However, you should know some specifics about what is really going on and could happen as we move into the balance of the year.

1.  Its Single Family Specific

Its really a tale of 2 markets. Single family homes have become much sought after in the last 12 months perhaps due to Covid worries, and they are in short supply. At the time writing there is approximately 500 FEWER single-family homes for sale than last year and yet demand has exploded. Subsequently, values are…

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For many people this is a fretful time. Perhaps you have heard that single family home values across metro Edmonton have gone through the roof. This is true. Values are currently trending at above 10% over last years values. However, there are several factors you should consider before deciding if you will sell now, or wait.

1. It won’t last forever

We are experiencing extremely high demand for single family homes and an inventory shortage perhaps due to worries over COVID. In other words, more and more people see the value in buying some space to keep their families safe, whilst others are saying let’s not move until COVID is over. Once the market moves into a state of equilibrium, values will level off and may eventually drop, perhaps as early…

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Perhaps you are thinking of selling your home privately.

Perhaps you have a relative or a neighbour that wants to buy your home?

Or perhaps as often happens, especially when the market is hot, you find a potential buyer after placing a sign on the lawn, or you ran a Kijijji advertisement?

Before you get too far, please consider the value of engaging with a good REALTOR® and their ability to take your home to the Open Market. Why?

If your goal is to get top dollar, you must go to the Open Market.

1. Your home will be exposed to ALL buyers

Not advertising the home for sale properly and for sufficient time, puts you at distinct a disadvantage and almost guarantees you will not get full market value. Only through the participation of all…

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