I know you can’t tell sometimes through Canadian weather, but Spring is ready to, well – spring! New buds on the trees mean the real estate market is blossoming with buyers – an ideal time to list your home for sale.
The key is to avoid some key blunders and think like a hardheaded businesswoman – like me! But seriously, the end goal might be the pleasure of a new home for yourself, but first you need to get through the wheeling and dealing.
1) Don’t believe your house is the exception to the rule
I know we all love our houses, but most of us can’t be objective when it comes to selling them. You may have the absolute exception to the rule out there but chances are your house still has flaws and you need to account for those flaws when setting your list price. Ask your real estate agent – and LISTEN to the advice. We are the experts and we don’t have the same emotional attachment you do to your house. If you’ve read my advice before and interviewed your agent thoroughly and checked their references, you can trust their advice – even if you might not want to hear it. It’s our job to get you a sale and a good sale at that – so trust us.
2) Don’t ignore the competition
If you really want to have an edge on your competitors when you list your house, then you need to know what other properties are out there. This doesn’t just apply to price but also to quality, location and selling features. Do your homework: go to open houses, get your real estate agent to send the MLS (Multiple Listing Service) listings of other properties in your area or in similar price rangers. Take a hard and unbiased look at what else is being sold on the market and how your house matches up. This is a competition for buyers, so know who else is in the race and how you can get in front of them.
3) Don’t take negotiations to heart
Okay, so you’ve done all your homework, set a fair list price for your house, your agent has all of the advertising in place and people are booking viewings. Great. Then the big day finally arrives and you get an offer. Well done! If it’s not your ideal price, don’t be a rookie and take that offer to heart – it ain’t personal. This is a business transaction. Even if your potential buyers give you a low-ball offer, keep chipping away at it. The negotiating process can be tough, but buck up buttercup. Your would-be buyer might not have pitched their top bid, and there may be other offers out there. Again, trust the advice of your real estate agent because they will be able to counsel you on when the right price comes up and when to get the deal in writing.
Spring brings buyers and if you want to sell your house you need to take advantage of this hot time of year. Particularly if this is your first time selling, it can be as daunting as when you were on the other side of the real estate dealing table. Be dispassionate as you look at your home, others on the market and thE offers eventually presented to you. Your home is your investment, so don’t make rookie mistakes that could hinder your perfect sale.
