PRICE IT TO SELL
Setting a selling price for your home is a tough decision, but a very important one. Of course you want to make as much money as possible. But you don’t want to ask too much and have your listing sit for ages without selling. Here are some tips for pricing your home so it sells fast, at a price you’ll be happy with.
JUST RIGHT
Setting a fair price means you’ll get more interest, potentially attract multiple buyers, and sell your property faster. So how do you set the right price? There’s really no set formula; the key to selling is listing your house for what it’s worth. To figure that out, you need to take a look at the market and see what comparable homes are selling for.
PUT EMOTION IN CHECK
Yes, this is the house you’ve raised your children in, restored lovingly, or landscaped beautifully. But buyers don’t care about your emotional attachment or the money you’ve invested in renovations. What it’s worth to you isn’t the same as market value.
LOOK AT RECENT SALES
Selling prices are a good indication of what buyers are willing to pay for a home in your area. Just make sure you’re comparing apples to apples. A brand new home is going to command a different price than a 20-year old house or an historic property in the same neighbourhood. Same goes for a condo overlooking the lake versus one in the same building that faces a highway.
CHECK CURRENT LISTINGS
Browse MLS® to see what’s available in your neighbourhood and what prices are being asked. (Remember, though, that asking price doesn’t always translate into selling price, so take these numbers with a grain of salt.)
Find out about expired listings. These are properties that didn’t sell, and they’re a good way to get a sense of what buyers won’t pay for a home like yours.
CHECK OUT SOME LOCAL OPEN HOUSES
Take a close look at other homes that are for sale in your area. How do they compare with your place in terms of location, condition, features and size? Take their asking price and use it as a baseline for your own property.
HAVE YOUR HOME APPRAISED
A registered valuer will do a detailed inspection of your home and local market and give you a professional assessment of how much it’s is worth. Be wary of using the assessed value provided by your city or town. It may not be up to date, and it doesn’t factor in value items such as appliances or hardwood floors.
CONSIDER WHAT THE MARKET IS LIKE
Your home’s value is based on supply and demand. Do some research on the market in your neighbourhood or city. Are homes in your area selling fast or sitting on the market for weeks or months? What are interest rates like? The economy? What about the local job market? All of those things factor in to what a buyer will want to spend to buy your property.
Most REALTORS® will do a Comparative Market Analysis (CMA) to show you what similar properties have sold for in your area. For a CMA of homes in your neighbourhood, or to ask about recently sold or listed properties, contact your REALTOR®.
Find your home value free!MY PLAN FOR MARKETING YOUR PROPERTY
When you’re selling your house or condo, you want to sell it fast and make as much money as possible. A good marketing plan can help you do that. Here’s how I will work with you to market your property. I will:
1. ADVISE YOU ON GETTING YOUR HOME SALE-READY
I will walk through your home with you and give you staging tips – everything from furniture placement to wall colour to clutter control – to help your place appeal to more potential buyers and maximize marketability.
2. GIVE YOU A SENSE OF THE MARKET
To help you decide on a fair price that’s based on market value, I will provide you with information on how much other properties in your area have sold for.
3. SUBMIT THE LISTING TO MLS®
I will include multiple quality photos of your property – and plenty of information to entice buyers.
4. PROMOTE YOUR LISTING
I’ll get the word out in as many ways as I can. Your listing will be featured on my website, my newsletter, in feature sheets, “Just Listed” postcards, slideshow presentations, targeted emails, and any other marketing vehicle that makes sense for your property – and the target market of potential buyers.
5. PROMOTE YOUR PROPERTY TO OTHER REALTORS®
Via phone calls, emails personal meetings – whatever it takes to reach potential buyers.
6. FOLLOW UP AFTER EVERY VIEWING
I will contact you after every showing to let you know the potential buyers’ level of interest, and tell you what types of comments they made about your property.
7. KEEP IN TOUCH THROUGHOUT THE PROCESS
You’ll never have to guess where things stand with the sale of your property – I will contact you regularly with updates. And if you have any questions, I’m available to answer them – seven days a week. I welcome your calls or emails anytime.
8. NEGOTIATE THE BEST POSSIBLE PRICE AND TERMS FOR YOU
CONTACT MEHUL DESAI TODAY!