Wondering if there’s a market for your home? FYI in Edmonton, from January 1st to when the blog is being written i.e. March 29th, 2019, over 2000 homes have sold, taking on average 71 days to sell.
Perhaps your REALTOR® was pressuring you to reduce the price and you have been resisting. It’s understandable that you would want to avoid a price reduction.
The good news is that it’s possible to change some other elements of your ‘value proposition’ first. Let consider those options.
1. Adjust Your Possession Date
Can you move out quickly? If so, you should offer immediate possession. But don’t hide this information inside the listing details on the MLS® System. Tell the world by building this into your description. To see examples, click on this link to see how we write descriptions for our clients.
Offering immediate possession brings in the best quality buyers who are in a hurry to move in and puts you head and shoulders above your competition that may be offering only 30, 60 or even 90 days possession.
Have you included your appliances and window coverings as part of the package? You should. Buyers covet these items and your competition has almost certainly included them.
3. Preparation & Presentation
Do your photos fit the season? As I write this article its early Spring. If your home has been on the market through the winter months, chances are the pictures date your listing. Get some photos taken of now and publish them. Your listing will look ‘fresh’. Is your home choc-full of clutter? Is your furniture too large? Would staging help? Read this article to learn more: Should You Stage Your Home?. Have you fixed all those items that don’t work? The buyers that will pay you the most money, want ‘move in ready’. Please don’t forget to make the beds, dust, put away clothes and empty the dish washer every day.
4. How Motivated Are You?
Selling is stressful, fraught with uncertainty and is time consuming. When you sell a home, you will rarely get everything you want. You may have to agree to make some concessions and most sellers over-value their homes. Unless you have solid reasons to sell and could describe your level of motivation as at least ‘7 from 10’, we suggest you wait and enjoy your home for a while longer.
5. What’s Your Competition Doing?
You will always have competition. Even the most ‘unique’ home has competition. All homes provide a basic function. Shelter. If other home owners around you are successful in selling, you should examine how they did it.
6. How Much Exposure Are You Getting?
Many people assume all they need is an MLS® listing and a yard sign on the front lawn. This is not true. Less than 50% of homes listed on the MLS® System sell in term. You need more exposure. Find a way to extensively advertise on Facebook® and Instagram®. It would also be good to look for a service provider that already has a database of home buyers actively searching for their next home. Professional quality photography is also important.
For more detailed information, please request a copy of our Home Sellers Guide please email Team@AmbergateRealtyAdvisors.ca and insert Home Sellers Guide in the subject line.
7. Is Your Price Realistic?
There’s always a market for any home at any time. If you have taken care of everything else, adjusting your price is all that remains. Of course, you don’t want to lose money or give away your equity. This is a completely normal feeling. However, this ‘money’ or ‘equity’ was never real. It only ever existed in your mind and your heart.
Selling a home is an emotional roller coaster and completely normal. I wrote this article some time ago. Does it resonate with you? 7 Emotional Stages of a Home Seller.
Still stuck on your price? Why not find multiple buyers? It’s possible to create multiple offer situations in any market. Here is a summary of the key benefits: The Power of More Than One Buyer
About the author:
You can read more about the author of this blog by clicking this link – Stuart Neal Broker Owner & REALTOR®
Want more information about our flat fee home selling programs? Please feel free to call our broker owner Stuart Neal at: 780-760-2014 or visit our home sellers page www.FlatFeeRealtyAdvisors.ca
This blog was first published in 2018. It was updated and re written in March 2019.