You're starting the year feeling exhausted. You tried to sell your home last year, and it didn't go well. All the work to prep your home for sale, all the emotions into looking for a new, perfect home - and now you've had to pull it off the market. You're not wrong to feel discouraged, especially in Calgary's real estate climate. You must know that the reason it didn't sell may have nothing to do with your home or the market. In reality, your home may have been one of the more desirable properties for sale. Take some time to grieve the process you've just been through and let's rally, starting with an audit of your procedure and what your next steps are.
Q. If I'm taking the plunge (again), where do I start?
A. Start by committing to do what it takes to market your house to get it sold. You've got to promise yourself you're going to listen to the advice of your realtor, who has the knowledge of the market running deep in their veins. Sometimes sellers think they know, which is great - being informed is critical! But your realtor is an absolute profession - with the right system, the home sale you want is still well within reach.
Q. So seriously - why didn't my home sell?
A. Look back at your previous selling plan - you'll discover that your listing had a problem in one or more of these four major areas:
- Teamwork - trusting and working together with your realtor to move your property.
- Pricing - are you emotionally attached to your property? Because sometimes, we feel all the feels when the market deems a property is worth "X" when you think it's worth "Y."
- Condition of Your Home - perfect isn't the word we're looking for - we want your house to be spic and span. All the electric plates should match, the
- Marketing - it's not just blasting the word out there to every nook and cranny. Your property could benefit from some strategy - let's talk about it.
Why Don't Some Houses Sell?
4 Important Points That Will Get Your House Sold!
Your home is a major financial investment, and your relationship with your Realtor® should be a full partnership where your needs and wishes are heard, and you receive detailed and dependable feedback on the progress of your sale. Your agent has a responsibility to source this feedback from the agents who have shown your home, and to communicate this to you so together you can make the right decisions about what to do next. How well did this occur the last time you had your home up for sale?
Did the price work for or against you? The "right" price depends on market conditions, competition, and the condition of your home. Pricing it too high is as dangerous as pricing it too low. If your home doesn't compare favorably with others in the price range you've set, you won't be taken seriously by prospects or agents.
You'll get the facts when you see the statistics!
HOT TIP! Every Seller Can Boost a Property's Exposure!
- Make your house easy to show.
- Consider installing a lockbox.
- Allow showing times that are convenient to buyers.
- Use a "For Sale" sign, where permitted.
- Create a Good First Impression by depersonalizing furnishings and decor so prospects can visualize themselves in your home, emphasizing curb appeal, and keeping large pets at a distance.
Remember — The next prospects who visit your home may be your buyers — be ready for them!
To help you to establish a realistic selling price for your home, ask your agent to provide you with an up-to-date competitive market analysis to give you:
- a review of comparable homes recently sold or currently for sale,
- an idea of how long other homes have been listed, to calculate an average time in which a home can sell in today's market,
- a review of homes whose listings have expired, to understand what issues were at play.
Note: There is no mention of how much you paid for your home or its improvements. Like any other investment, the market value is determined by what a willing buyer will pay, and a willing seller will accept.
3. Condition Of Your Home
Is your house someone else's idea of a dream home? When buyers enter are they inspired? Do they think, "I love this house!" Remember, the decision to buy a home is based on emotion, not logic. A house in move-in condition invites a sale.
You need to consider:
- fixing all the little squeaks and cracks
- keeping it clean for all showings
- making it uncluttered
- brightening it up
- what your home shows like from the street concentrating on outside curb appeal.
Plus — Consider taking care of major items, such as having your home painted. Offering an allowance to your prospective buyers, so they can have painting completed is not the same as having done it for them. Now, as they're trying to imagine what that new paint job will look like, they may also be discounting the price even further because of the less-than-perfect look of those walls.
Remember-a house that presents well sells for the best price because it outshines the competition.
* Ask your agent if they can arrange a no-obligation inspection of your home to help you assess the above.*
Marketing Your Home To Sell! Some Questions You Should Be Asking! One of the first steps in your marketing plan involves finding an agent who will best represent you. When interviewing agents, test and compare their knowledge and ask each to demonstrate how they will market your home to buyers. Compare, too, how much money each spends on advertising the homes s/he lists, in what media (newspaper, magazine, etc.) and the effectiveness of one medium over the other. Remember, it's not just how much they spend, but how they spend it. Say goodbye to any real estate agents using old, traditional methods to sell your home because they don't work in today's market! To be competitive in today's marketplace, agents who use new and innovative, non-traditional marketing approaches are the ones who are getting more homes sold fast and for top dollar.
HOT TIP! Get the Best Results!
To get the best results when selling your home, you need to team up with your agent to develop a great marketing plan that exposes your property to the broadest possible pool of prospective buyers.