Tips when selling:
Pricing your property
The single most important decision you will make is determining the right asking price for your property. With experience in all kinds of markets I will help you make an informed decision so that we can work together to get your property sold quickly.
The benefits of pricing your property correctly are:
The property sells faster because it is exposed to more qualified Buyers
Your property doesn’t lose its “marketability” by being exposed for too long to the market
The closer we price your property to market value, the higher the offers will be
A well-priced property can generate competing or multiple offers
The real estate community is more enthusiastic about showing well-priced homes to their Buyers
Curb appeal is what the Buyer sees when they first view your property; whether driving by or online. This instant impression determines whether they either can see themselves living there or should move on to the next one. Poor outside curb appeal will immediately give the Buyer a type-cast impression of the inside. If you did not take care of the outside, have you taken care of the inside?? This will limit the number of Buyers who choose to view your property.
Buyers are looking for a property with great curb appeal. This includes; lawn, walkways, garden, trees and shrubs, exterior paint and finishing, etc.
Some inexpensive ways to increase your curb appeal would be to cut your grass, plant some flowers, trim your shrubs and hedges, and wash the windows and exterior of your house. You should also take photos of your exterior when it shows its best, likely in the spring or summer, even if you plan to sell in winter.
You only have a few seconds to give the Buyer an impression of your home. Great curb appeal will undoubtedly increase viewings. Remember, you don’t get a second chance on a first impression!
Understanding your current market conditions
The real estate market is always changing. It helps to understand how current market conditions can affect your position as a Seller. While Kingston’s housing market is generally stable, there are three main conditions that we commonly refer to. These are what are known as a “BUYER’S MARKET”, a “SELLER’S MARKET”, or a “BALANCED MARKET”.
The supply of homes on the market exceeds the demand. High inventory of homes with few Buyers looking. Homes tend to be on the market longer and prices usually drop. Your home may take longer to sell and you may have less negotiating leverage in terms of selling price.
The demand or the number of Buyers wanting homes, exceeds the supply or number of homes on the market. Homes are in short supply with many Buyers looking. Homes sell quickly, prices usually increase and there is more possibility of multiple offers. You may have more negotiating leverage and obtain a higher selling price for your property.
The number of homes on the market is equal to the demand or number of Buyers. When the number of Buyers equals the number of homes on the market prices are generally stable and homes sell reasonably quickly. Buyers have a reasonable number of homes from which to choose and negotiations are usually more.
Determining the value of your property
Ultimately, it is the market that determines the true value of your property. When Sellers evaluate their own home they tend to look at it objectively (based on, or influenced by personal feelings, tastes or opinions), whereas a Buyer will look at it subjectively (not influenced by personal feelings or opinions in considering and representing facts). Separate yourself from your home and try to look at it objectively.
Before comparing your property to similar properties to establish a competitive asking price, consider the following using an objective mindset:
Location, location, location!!! Is your location desirable?
Size and style of your house. Is your house unique or is it more common?
The condition of your house. Has it been upgraded vs the competition?
The current market conditions. Is it a Buyer's market or a Seller's market?
Décor, paint colours, and styling. Does the preceding cater to a large number of Buyers or is it a niche?
Should you list 10% below market value and create more interest or do you price 10% over market value and hope for a "big city buyer"? The real estate community is more enthusiastic about showing well-priced homes to their Buyers. The best, and most prudent, decision is to list at market value and you will be the most successful.