THE VIEW FROM OAK PARK
The Official Krisztina Blogsite
Yes folks, it’s true. It’s now a Buyer’s Market. With one important caveat – prices for now are remaining higher than years past. However, now it’s more crucial than ever for Sellers to step it up in order to close that deal in a short period of time. To borrow some sports analogies, it’s time for Buyers to put their best foot forward and take it up a notch. You must bring your A-Game and keep your eye on the prize. Don’t do it halfway – it’s important to swing for the fences and focus on the end game: selling your house at a good price in a short period of time. Bottom line: You can still get your price as long as you don’t sabotage your own sale!! Here are my 5 Principles for the Seller:
LISTEN TO YOUR REAL ESTATE AGENT ABOUT PRICING, TIMING & STAGING. You’ve done the work and selected your Real Estate Agent. You’ve looked at websites, interviewed candidates, asked around, checked references, looked at the Agents’ histories and finally chosen your Agent. Now it’s our turn to put our experience and expertise to work for you. I often say we’re a team with the same goal – to sell your house. And I am on your side, but in the beginning you have to look at your Real Estate Agent more like a Coach. We’re the ones with our fingers on the pulse of the market and the neighbourhood. We choose price points carefully with the goal of selling your house at fair market value. We’re aware of the intricacies of timing in your area down to the week – what other similar homes are currently on the market? What is the current state of Oakville real estate or real estate in your area? And so much more. If we ask you to rush upgrades, it’s to take advantage of a current sales trend. And if we ask you to hold off listing for a few weeks, same thing. And finally staging. We know what sells and we know what turns Buyers off. We carefully gage the cost differentials of any upgrades we ask you to undertake against pricing and time on market.
CLEANLINESS RULES. Your ‘clean’ is not ‘Selling a Home’ clean. That’s why there are companies who clean homes when they are going on the market. So do yourself a favour and give your cleaning person a few extra hours of work or hire a cleaning crew to make your house Open House ready. Nothing, and I mean NOTHING turns a Buyer off more quickly than a dirty or unkempt home. I know it’s hard to maintain and I know it’s a pain in the rear to always be neatening and straightening things, but it is absolutely crucial. Today Buyers have lots of selection and they will walk away from a dirty or messy home.
DON’T CANCEL/REFUSE ANY SHOWINGS. I understand that you might be tired or your child is not feeling well or you just got home from the cottage, but in this market you’re going to have to figure out a way to toughen up because if a Buyer runs into any barrier trying to see your house, they’ll look elsewhere.
LISTEN TO BUYER FEEDBACK. Sellers are always anxious to hear the feedback from a Buyer’s Agent after a Showing, but they don’t always like what they hear. The feedback is simply an honest assessment of the positives and negatives of your house and is NOT PERSONAL. By using this feedback, you have the ability to make some changes for the next buyer – perhaps an issue of tidiness or a room that was too personal or a wall colour. Remember, this is no longer your home. It is a house for sale!!
BE AVAILABLE. Selling your home should be the top priority for you and your family. Best case scenario, the disruption only lasts a few weeks. But it is crucial to be available to your Real Estate Agent during that time – for questions, for feedback, for pricing changes, for appointment bookings etc. I will always return your calls within the hour (and often sooner), so it is important that you do the same for me.
Two cases in point – I recently had 2 homes on the market – similar time frames, both priced at market value. One homeowner followed all my asks and sold over asking in 3 days. The other (situated in a similarly desirable area) took over 30 days to sell and didn’t get its asking price. Why? Because they didn’t follow the 5 Principles!! If you follow these 5 Principles, you and your Real Estate Agent can work together and hopefully keep your selling cycle as short as possible so that we disrupt your life for as few weeks as possible. Remember, keep your eye on the prize – your home will sell in this market, but it’s up to you to help make it sell faster for the best price!!
And remember, if you want to sell your home with a pool, it’s not too late if you act now. Check out my 1 Minute Home Tip video on Pool Resale linked below. And if you’re planning to stay, check out my video on Building Your Garden!!
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