Your home is ready to be offered for sale. Before you sign the listing papers and establish a selling strategy with your Realtor, here are a few tips to keep in mind.
Price matters. Strategic pricing could mean the difference between potential buyers finding your home or missing it altogether. In general, people search in particular dollar increments depending on what they can afford to purchase. When looking for a house, buyers commonly search in multitudes of 25,000. For example, if a buyer is searching www.rew.ca to purchase a house up to $600,000 and you have listed your home at $609,000 with the intention to negotiate $9,000 off the asking price, you are far better off to list right at $600,000. At a maximum search price of $600,000, the potential buyer is not even considering your home as an option; they have missed it entirely.
When marketing a home, it is crucial to have quality photos in order to showcase it to its full potential. This cannot be compromised. Recent studies indicate that more than 90 per cent of home buyers start their search on line and listings with 6 pictures or more are twice as likely to be viewed in person. Further, listings with 20 photos rank far superior in the amount of physical showings they achieve. Make sure the photos that represent your home are stellar and accurately depict the space.
The social instrument of communication can make a world of difference in marketing your home. Avenues such as Facebook, LinkedIn and Twitter will expose your property to a greater number of purchasers. If you are not currently using social media to market your home you should consider it.
In a hot real estate market like the one we are experiencing now, it may be wise to hold off initial showing requests by directing all interested parties to a debut showing scheduled on a particular day or in a first-showing open house. The intention is to create excitement and to ensure that your home sells for a premium price with as many interested parties having an equal opportunity to purchase it. It may just go for over asking when this strategy is applied.
Don’t lose a potential buyer. This feature can make a considerable difference by improving accessibility. More and more we are receiving showing requests with very little notice. A buyer may have decided to write an offer on another home until they noticed your just-listed property. They need to see your home immediately in order to make a decision, and they can – if it has a lockbox. Lockboxes are padlock-shaped boxes that hang around the doorknob of a house that is on the market. The device holds the keys to a house to allow communal access for all real estate agents, while continuing to keep them safe. They are only accessible to the Realtors who have an assigned access card that has been issued by the Real Estate Board. All entries are tracked by a secure system and recorded for future reference.
To recap, set a strategic price, provide professional photos, market through social media, create showing excitement and use a lockbox when selling your home.