To get your selling price, these 12 steps to selling a home in London, Ontario, will ensure that your home sells quicker, and you can reduce stress and have some semblance of control.
1 Keep the reason you are selling to yourself and your Realtor®.
Keep your motivation for selling to yourself and your Realtor, no one else! When asked, say that your housing needs have changed.
2 Different goals will dictate different strategies.
What is more important to you:
The money you walk away with?
How long does it take your home to sell?
Or both?
3 Do your homework before setting a price.
The average buyer will look at six to ten homes at the same time they are looking at yours. That buyer will now have a basis for comparison. If your home does not compare favourably with others in the price range, buyers or realtors will not take your home seriously. A result can be that your home will sit on the market longer. Unfortunately, some buyers may think something is wrong with your home because it is still on the market.
Homework Before Choosing a Selling Price
4 The discovery.
Find out what homes in your neighbourhood have sold for in the last 6-12 months.
Research what current homes are listed for sale (your competition).
The days on the market
The percentage of the sold price to the asking price.
That is how a wise prospective buyer and their Realtor will assess the worth of your home.
5 Maximize your home’s sales potential.
Although you may not be able to change your home’s location or floor plan, you can do much to improve its appearance. The look and feel of your home generates a higher emotional response than any other factor. Before showings, pick up, straighten up, unclutter, scrub, scour, and dust. Present your home to get a “WOW” response from prospective buyers.
Allow the buyers to imagine themselves living in your home. The decision to buy a home is based on emotion, not logic.
6 Deciding upon a Realtor
You and your Realtor are partners in marketing and selling your home; negotiation strength is paramount, and the support staff, experience, and tools to handle any situation are good to know.
There Are Six More, You Are Doing Great!
7 Make it easy for buyers to get information on your home.
Buyers who call for information on your home value their time as much as you do. They also do not want to be hassled or frustrated because they cannot reach the listing realtor or because some of the information in the listing is incorrect.
96.7% of homes sold have been previewed with a virtual tour or professional photography! Ensure your Realtor has a proven feedback system that lets you know prospective buyers’ comments and opinions.
8 Do not move before you sell or keep it furnished.
Studies have shown that it is more difficult to sell a vacant home because it looks forlorn, forgotten, and naturally unappealing. Prospects may also think that because it is empty, you are motivated to sell fast and for a lower price.
9 Deadlines create a severe disadvantage.
Don’t try to sell by a specific date. This adds unnecessary pressure and is a severe disadvantage in negotiations.
Keeping Emotions and Expectations in Check
10 Do not be offended by a low offer or individual demands from the buyer. An experienced Realtor can turn these negatives into favourable situations. You will have an advantage over others who get caught up emotionally.
Emotions will not alter the situation; it has already occurred.
11 Be an intelligent seller- disclose everything.
Be proactive. Disclosing any problems or defects gives the buyer confidence that you are not hiding anything. This will also prevent liability or legal issues.
12 Make sure the offer is complete. Ensure that all terms, conditions and responsibilities are spelled out in the offer and that you fully understand them. An excellent Realtor will take the time to explain and help you understand the conditions and terms and will insert clauses if required to protect you further
These 12 steps are a guideline, and no one can afford to waste time and money or have a process that will return to haunt them! There are 187 steps I follow, but for now, these 12 are basic yet important.
