A Few Important Tips To Keep In Mind When Putting Your Property On The Market!
Five things to avoid when selling your home
Selling one’s home can be a complicated process, but it doesn’t have to be. Here are a few important tips to keep in mind when putting your property on the market!
1. Be reasonable with the asking price – Your home is your castle, but the average buyer probably doesn’t see it that way. Be realistic with the asking price. What you think it’s worth and the price it will eventually sell for are very often two very different numbers. Ideally, price should be based on recently sold comparable properties in the neighbourhood, as well as factors such as how much work the home needs. The number of showings requested on a property is usually a good indicator of price. If after 2 to 3 weeks there little or no showings (and consequently, no offers), then the price is too high.
2. Tidy up - A good first impression is golden. A buyer is more likely to be impressed if the property is neat and tidy. Conversely, an unkempt home can diminish a buyer’s motivation. Get rid of clutter and swing the broom across the living room floor! Put your best foot forward when showing your home and make sure that it is spic and span.
3. Be honest – It’s never a good idea to hide problems about your home.Attempting to cover up serious defects such as a leaky roof, cracked foundation or moldy basement can very likely result in the buyer backing out at inspection.If discovered after the sale is finalized, these problems can come back to haunt you in the form of costly lawsuits. As the saying goes, honesty is the best policy.
4. Be open to negotiation – Most buyers will expect the asking price of your home to have a little wiggle room. Try not to take it personally if the first offer is a little low. The buyer will naturally try to bring the price down as low as possible. A reasonable counter offer will bring the price back up and, if both parties negotiate in good faith, the final sale price will be one that both buyer and seller will be pleased with.
5. Work with a real estate broker - Sellers who attempt to sell privately often end up with home on the market for longer than usual. Also, their properties may sell for a lot less than those who choose to work with a broker. A broker can offer professional advice when negotiating, as well as help you through the entire home selling process, including all of the points listed above. Hiring a broker is what I call “smart money”!
Question? Comments? Feel free to contact me!
Erik Hamon, Real estate broker
Groupe Sutton Centre Ouest