At the end of June 2018, in Edmonton we witnessed the highest level of inventory, lower sales numbers and much lower sales prices than we have seen in 3 years. See June Market Report for details.
It’s never been more important to select your REALTOR® and real estate sales company very carefully. On average, less than 50% of homes listed for sale in recent times have actually sold in term.
What must you do to stand out?
Make Sure You Are Advertised on All Key Websites
Not all brokerages have subscribed to the Direct Data Facility Agreement managed by the Canadian Real Estate Association (CREA). Why does this matter to you? Simple. If you pick a brokerage that is subscribed to DDF your home will be advertised on EVERY major website in the country including all of the franchised websites. If you don’t pick a brokerage that is subscribed your exposure will be limited. Check with your REALTOR® before you list with them. Here’s a link to more information about this: Heading 6 and here: Direct Data Feed.
Look for Distinctive Branding
Imagine yourself driving down a street. At this time of the year, there’s lots of homes for sale. Which one is most likely to get your attention? The listing with the same old franchised name on it or the red white and blue signs you see everywhere or something that is distinctive? To see what we mean about distinctive click on this link: Distinctive for Sale Signs
Pick Your REALTOR® Carefully
Many REALTORS® especially those in the larger franchises have little experience to offer and no support. This surprises many home sellers we talk to. Here’s a list of great questions to ask REALTORS® before you list.
Price Using Round Numbers
Most homes are still offered for sale using a century old pricing theory called ‘odd pricing’. The thinking is by ending a price in a 9 or a 7 or an 8 for example $379,900, $379,700 or $379,800 that the consumer will think its cheaper. This may work for a $9.99 T Shirt but not an expensive product like a home. There are 4 advantages to using round numbers:
The consumers will trust you. Most buyers will simply round up in their minds to $380,000. Just go there! You didn’t fool anybody.
Based on studies, consumers are more likely to expect a quality product that has a round number price. Again, you are not selling a T Shirt or a can of pop.
Websites sift and sort listings by round numbers. Therefore, you make your home website friendly when you use a round number.
You will stand out. Let the ‘sheep’ stick with odd pricing. Be modern and distinctive and you will stand out.
Offer Immediate Possession
Not as scary as it sounds. A typical sales cycle takes 8 to 12 weeks. You are not moving out tomorrow. However, we know that the best buyers are in a hurry now. They are stressed and want to settle on a home ASAP. Offer immediate possession and highlight this in your marketing communications and you will likely find better buyers.
If you lived in your home for some time, there is likely too much stuff in the home and possibly a few repairs you have been putting off. Please go ahead and complete those repairs. Please also do what you can to de-clutter. If necessary, paint the walls neutral colours and make sure the hot is CLEAN. There may also be an argument to consider staging. Here’s a helpful link about that: To Stage or Not to Stage
Your fridge, stove, washer, dryer and window coverings etc. have little value to you. However, even if a buyer plans to replace them if you leave them behind it makes the home easy to move in to.
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 discount and 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