Positive signs are appearing that support a recovery in the Canadian real estate market. Residential sales activity via the Multiple Listing Service (MLS) of Canadian real estate boards numbered 42,288 units for October 2009, according to the Canadian Real Estate Association. This is up 41.5% compared to October 2008, when news of the global financial crisis hammered consumer confidence. New records for the month of October were reported in about one-fifth of local markets, including Toronto, Montreal and Ottawa.
Whether this road to recovery has been sparked by historically low interest rates never before seen by even your parents or grandparents, or optimism about Canada’s economic recovery, more people are thinking about moving.
So how do you ensure your house is not the one sitting on the market months after you have decided to sell? Following are five tips to help ensure you make a quick sale.
1. Work with a pro. To ensure a quick sale, you have to be sure your buyers can afford to pay what they offer. As an experienced real estate agent, I take precautions to make sure buyers are not overreaching their grasp. And based on my negotiating expertise, I can work with buyers and negotiate contracts that do not, as a rule, tend to fall through.
I also bear all the costs of advertising your home. This can seem minor at first, but newspaper ads and signage can quickly add up.
And, best of all, I work for you. It’s in my best interest to ensure your home sells fast and you’re pleased with the price you receive for your home.
2. Price accordingly. As your local real estate agent, I’m in the know when it comes to what’s selling in your marketplace. I have access to a database of statistics that enable me to help you set a price that will make your house attractive to buyers without undercutting your bottom line. After all, if your home stays on the market for an extended period of time, the process can become extremely hard on you and your family – especially if you have your eye on another home.
3. Set the stage. Aside from pricing your home accurately from the onset, the way your home is seen by potential buyers is the next most important aspect in ensuring a quick sale. Getting your house ready to sell can help you connect with buyers on an emotional level that enables them to picture themselves and their families living in your home.
With the popularity of home decorating and renovation programs on TV, people are more accustomed to looking at houses with an eye for design. But this doesn’t have to cost you a fortune. The most important first step is getting rid of clutter and personal items so potential buyers can picture themselves easily moving in their belongings. I can also suggest ways for you to rearrange your furniture to make your living space more appealing to potential buyers.
4. Go where the buyers are. If you want a quick sale at the best price, it only makes sense to compete on the biggest market – and there’s no question that the biggest market in Canada is the Multiple Listing Service, or MLS, which can only be accessed by real estate agents. A full 90% of all home sales go through the MLS.
Going it alone means relying on yourself and, while that may sound appealing to some, the numbers argue against it.
5. Create word of mouth. Finally, if you have a home that one of your friends or acquaintances has often admired, put the word out to your friends and ask them to spread the word. Doing so could help you avoid the stress of staging and hosting open houses, and get you the quick sale you’re seeking.
As always, if you have any questions or concerns about selling your home quickly and for the right price, I’m here to help!