Hello Halifax, are you thinking of selling your home and want to sell for top dollar in record time? I run into this type of scenario frequently when I’m meeting with homeowners who are thinking about selling their property. For example, one situation might be that they want to sell as quickly as possible so maybe they’ve already bought another home and they need to get out of theirs very quickly. Or, maybe they’re moving for work to another province for example and they need to get it sold ASAP. Maybe it’s an estate sale and they want to unload it fast or maybe they have some financial issues and they need to sell quickly.
The other situation that I run into is that sometimes people want to sell but don’t necessarily need to but they want top top dollar for their home. They are not necessarily considering how long it’s going to take to sell their home but at the end of the day they want the best dollar figure that they can get.
Today I’m going to focus more the first situation and what the keys are to unloading a home quickly. Currently, most homes and HRM are selling very quickly and right now the average market time is about 30 days, which is double from this point last year when it was 15 days so it is about double and the reality is that a lot of homes are selling in a week or less.
Last month about 48 of all homes sold in April sold for over the asking price and that means they more than likely received multiple offers for that to occur.
The question is how do you maximize your listing to receive the top dollar you are hoping for? If you want a quick sale, I’m going to give you three main things that you should be looking at if you’re looking to reap the financial reward of selling your home in the current market.
First the listing price strategy; currently, homeowners are utilizing two approaches when setting the list price. The most common is setting the list price below the home’s actual market value to increase traffic and promote competing offers. Thus, driving the sale price 5%-15% above the asking price.
Another approach is to price it high and hope that a prospective buyer will agree to purchase or meet the seller’s aggressive asking price. This is not an advisable strategy if you need to sell your home in a short period of time.
We have extensive experience in submitting competing offers and we recommend homes valued under 550k to price it below market value to create many viewings which should produce multiple offers to reach your expected goal.
The second important consideration to maximize the saleability of your home is “Listing Preparation”. As your mom told you when you were a child, “You only have one opportunity to make a lasting impression”.
That is so true when it comes to showcasing your home to prospective buyers. It is crucial to listen to your Realtor and heed their recommendations which may include, painting, decluttering, staining the deck, spruce up the landscaping etc. So, take some time to complete those to-do lists that we all know we have. It will pay off huge dividends and you will be the beneficiary.
The third component is marketing.
Providing professional, high-quality photos, videos, and drone footage to promote every home in the best light to all who may view the property in person or virtually. Over 80% of consumers start their search online and more so on a mobile device. So, you need to deliver quality images and videos as well as floor plans so that buyers stay on the website and view your home in its entirety. The alternative is the stay on the site for 3-5 seconds and move on because we didn’t capture their attention.
If you need the services of a professional stager who can assist with paint colours, furniture arrangement, staging furniture etc.
They can present your home in ways you never thought possible which in turn enhances the saleability of your home.
Documentation is another important factor to ensure your home will sell for top dollar. For example, if a buyer looks at 2 equally priced and finished homes, one has all of the documentation and the other doesn’t, which one will the buyer pursue? Buying and selling Real Estate is an emotional process and if you can provide all of the information a buyer or seller requires, it will be much easier to move forward as an informed client than if we do not have all the necessary documentation.
If you have any questions or would like to discuss your real estate goals.
Reach out and schedule a call or meeting through my calendar. Thanks for reading my article.
All the best…
Johnny Dulong – Family Real Estate Advisor