If you’re a long-time homeowner in London, Ontario, you know the comfort of a familiar house, friendly neighbours, and a lifetime of memories. For many, the thought of selling only comes up when you’re “ready”—but based on my two decades working with seniors, I’m here to tell you that waiting for that moment is often the saddest and costly mistake you can make.

The hard truth is that the best time to move is when you have choice, control, and equity, not when time and complex challenges force your hand.

The London Downsizing Dilemma

You are comfortable now, and that’s wonderful. But what happens if you need sudden, expensive renovations to maintain your independence? Or, if a health change makes it impossible to manage the stairs or the yard? We’ve all seen good neighbours wait until it’s too late, forcing a rushed sale during a stressful time and often losing control over both timing and money.

You deserve to transition to your next chapter with joy and peace of mind, not panic.

The unique London, Ontario market, especially in cherished neighbourhoods like Lambeth, Byron, or Old South, gives you a decisive advantage right now. Your house is a valuable asset that can be unlocked to secure your future. Instead of waiting for the moment, you must move. Let’s look at the best time to move. When you are independent, financially strong, and excited about a smaller, safer, and less-maintenance lifestyle.

Secure Your Future, On Your Own Terms

As a real estate broker in London, Ontario, my goal is to help you move from your current home to a townhome, condo, or apartment that gives you greater independence, whether that means enjoying what you like to do or simply having a comfortable, single-level space to manage.

Selling is not about giving up your independence; it’s about making a deliberate choice to preserve it.

If you are asking when to sell your family home in London, Ontario, the answer is now, while you have the energy to declutter before selling your London house.

Don’t wait until the decision is made for you. Let’s explore your options today to ensure your next move is dictated by your goals, not by crisis.

Continue Reading: Downsizing Your Home in London Ontario

The journey of selling your home in London, Ontario, often feels like a long process, but the truth is, the success of your entire sale hinges on just a handful of critical days. In a competitive market, you don’t get a second chance to make a first impression. That’s why every seller needs to master the 10 most important days—from initial preparation to the final offer.

By focusing your effort, time, and resources on these key moments, you can significantly reduce your time on the market and secure the highest possible price for your property.

Days 1-5: The Strategic Preparation

These are the days when money is made. Buyers in London are looking for move-in-ready homes, and meticulous preparation pays off.

Day 1: The Valuation & Strategy Meeting. This is when you hire your Realtor. This is more than just getting a price estimate; it’s about creating a hyper-local strategy. Your Realtor should come prepared with:

• A comparative market analysis (CMA) of recently sold properties in your neighbourhood.

• A clear, data-driven pricing recommendation.

• A detailed timeline of all necessary pre-listing activities (cleaning, staging, photography).

Day 2: Declutter, Depersonalize, and Repair. Buyers need to envision themselves in the space, not you. Spend this day ruthlessly removing personal items (photos, trophies, collections) and minimizing furniture. Execute small, high-impact repairs, such as fixing leaky faucets, patching drywall holes, and replacing burnt-out light bulbs.

Day 3: Deep Cleaning and Staging. A professional deep clean is non-negotiable. Focus on kitchens (appliances, cabinets) and bathrooms. After cleaning, apply simple staging principles: fresh towels, organized pantries, and a clean, neutral aesthetic. Staging helps showcase the room’s potential and makes photos pop.

Day 4: Professional Photography & Video High-quality listing photos are your most powerful marketing tool. This is not the time for amateur phone pictures. Professional photos and a 3D virtual tour or video walkthrough are essential for capturing buyers who start their search online.

Day 5: Write the Compelling Listing Description. Work with your Realtor to craft a description that tells a story, highlights key features (e.g., proximity to parks, specific school zones, upgrades), and focuses on the emotional benefits of living in the home.

Days 6-9: The Critical Launch Period

The first week your home is on the market dictates the momentum of your sale. This is where demand is highest.

Day 6: The Official Launch (Go-Live Day). Your home is added to the London & St. Thomas Association of Realtors (LSTAR) MLS system. Every marketing element—photos, video, description—is flawless. All your Realtor’s pre-marketing efforts (social media previews, “coming soon” signs) pay off today.

Day 7 & 8: Showings and Open Houses. These days are designed for maximum visibility. The goal is to generate as many showings as possible. Keep the home immaculate, ensure all lights are on, and consider leaving for the day. An optional weekend open house can capture potential buyers who are not actively working with a Realtor.

Day 9: The Brutal Truth. There is no indication of any offers. Or, only one or a low-ball.

Day 10: The Negotiation and Acceptance

This is the day you convert interest into equity.

Day 10: Strategic Negotiation A strategic negotiation comes into play! This is not just about the highest price; it’s also about the best terms:

• Closing Date: Does it align with your next move?

• Conditions: Are the offers firm (no financing or inspection conditions)?

• Deposit: Is the deposit substantial?

Your Realtor’s negotiation skills and financial integrity are paramount in ensuring you get the maximum value while protecting you from contingencies.

The Takeaway

The bulk of your effort needs to be front-loaded. By executing a flawless strategy during these ten critical days, you maximize buyer excitement, generate competitive pressure, and significantly increase the likelihood of a fast, highly profitable sale.

Those 10 days most London sellers ignore (and why it costs them thousands)

Ready to see how a precise 10-day plan can transform your home sale?

Learn what you might want to do five days before the home goes on the market and the next five days are so important!

Selling your home is one of life’s most significant financial and emotional decisions. In London, Ontario’s fast-moving market, the difference between a smooth, profitable sale and a stressful one often comes down to preparation, strategy, and the Realtor you choose. At The Envelope Real Estate Group, we call this process The Seller’s Journey—a proven roadmap that guides you from “thinking about selling” to “sold and moving on.”

Step 1: Discovery & Consultation
It starts with an honest conversation. We discuss your goals, timing, and expectations, and provide a clear understanding of today’s market and your home’s value.

Step 2: Pricing Strategy
Overpricing leads to stagnation. Underpricing leaves money on the table. We strategically position your property to attract motivated buyers and secure strong offers.

Step 3: Preparation & Presentation
Minor improvements can mean significant returns. From staging advice to professional photography, we help your home shine—without pushing unnecessary upgrades.

Step 4: Marketing & Exposure
Your home gets more than a listing—it gets a launch. With professional photos, targeted campaigns, and buyer networks, we maximize exposure where it counts.

Step 5: Negotiation Power
This is where decades of experience matter most. We negotiate hard, but fair, ensuring you walk away with the best possible terms and price.

Step 6: Closing with Confidence
We coordinate with lawyers, lenders, and inspectors so every detail is handled. You’ll always know what’s happening and what’s next.

Step 7: After the Sale
Our relationship doesn’t end at closing. Whether you need movers, contractors, or market updates years from now, you can count on us.

Thinking of selling your home in London, Ontario? Let’s discuss your goals and develop a plan that works for you.

Contact Ty Lacroix Today and See Why Not All Realtors Are The Same!

The truth is… your listing doesn’t get unlimited chances. It gets a golden window—the first 21 days. That’s when the most motivated, pre-approved buyers in London, Ontario, are watching. They’ve seen everything else. They’re waiting for the one. If your home launches firmly, you win. If it launches weak, you chase.

Why those 21 days?

• Algorithms push “new.” Real estate portals and social feeds boost fresh listings.

• Buyers move fast. Serious buyers have their cheques ready. They book showings in week one.

• Momentum matters. Early views and offers create competition. Competition creates price.

Here’s how we use that window like a pro:

1) Price “at the market.”
Not behind. Not ahead. At. That’s how you spark activity, create urgency, and invite strong offers. Price cuts later scream, “What’s wrong with it?”

2) Presentation that stops the scroll.
Pro photography, video, floor plans, clean staging, bright lighting, and concise copy. No clutter, no guesswork. Buyers shop on phones. Make it pop.

3) Promotion where buyers actually are.
Targeted online ads, social boosts, retargeting, email to hot buyers and agents. Maximum exposure on day one—not day 30.

A simple 21-day cadence:

• Days 1–3: Launch big. Flood the zone. Book showings.

• Days 4–7: Maintain high energy levels. Collect feedback.

• Days 8–14: Nudge fence-sitters. Highlight strengths.

• Days 15–21: Adjust strategy, not standards—fresh angles, new copy, new audiences. If the market speaks, we listen smartly.

Before launch, do this:

• Minor repairs done.

• Paperwork ready.

• Dates planned (no surprises).

• Exterior shines. Interior breathes.

Miss the golden window and your home risks going stale. Stale listings invite bargain hunters. And bargain hunters do not pay a premium.

Want your first 21 days to count? I’ll build you a 21-Day Launch Plan that turns attention into offers—and offers into a result you’re proud of.

Because not all Realtors are the same.

The truth is… most home sellers don’t lose money because of the market. They lose money because of a decision they didn’t even know they were making.

Here it is: pricing your home wrong from day one.

If you price behind the market—hoping buyers will “make an offer anyway”—you’ll sit, you’ll wait, and you’ll end up chasing the market down. Price cuts attract bargain hunters, not serious buyers. It’s like putting out a “garage sale” sign on your biggest asset.

If you price ahead of the market—trying to squeeze out every penny—you’ll scare away motivated buyers who think you’re unrealistic. Meanwhile, your golden window of interest (the first 10–21 days) closes, and your leverage slips away.

But if you price at the market—with strategy, not guesswork—you create competition. Competition creates urgency. Urgency creates top-dollar offers. And that’s where sellers win.

The best part? A strategic price doesn’t mean you “settle.” It means you play chess while everyone else is playing checkers. And in this market, you can’t afford to gamble with your nest egg.

If you’re thinking of selling in the next 6–12 months, let’s talk. I’ll show you how to position your home so it doesn’t just sell—it sells for maximum money, with minimum stress.

Thinking of selling in London, Ontario? Don’t gamble with your biggest asset.

The truth is… every home only gets one chance to make the right first impression. Whether it’s pricing, timing, or marketing—getting it wrong can cost you thousands. Getting it right can change everything.

That’s where I come in. I’m Ty Lacroix, Realtor & Team Leader of The Envelope Real Estate Group. My sellers get strategy, not guesswork. Results, not excuses.

Want to map out a winning game plan?

Because not all Realtors are the same.

This is a true story about why some homes in London Ontario are not selling. In this story, out of eight properties visited over two days, seven did not get an offer, and one did, not good odds!

I showed a couple looking for a detached bungalow house in London, Ontario, between $650,000 and $850,000, eight on a Saturday and returned on Sunday to see two of the eight that had their interest.

I have not included addresses or names to protect the guilty, the innocent or the unaware!

On Thursday and for a few hours on Friday, I researched ten houses they wanted to see, including their selling history, days on the market, and any price reductions or increases. Additionally, the sales history of similar houses in the neighbourhood over the last six months, including those that sold, those that did not sell, and those that were taken off the market.

Note: All were in desirable neighbourhoods in London Ontario. Two Realtors did not respond to my request to show! I guess they were too busy!

House 1: It had pleasing curb appeal. Some lights did not work (either due to electrical or faulty light bulbs), and a few minor touch-ups were required, but the house was in move-in condition. It was priced right for the neighbourhood and condition.

House 2: Decent curb appeal, but the house was untidy (reasonable because it appeared there were young children), the back yard was untidy, and it was overpriced by $50,000 to $75,000. There was also no nice flow through the house.

House 3: It has decent curb appeal and a nice backyard. The price has been reduced twice, and it has been on the market for 76 days, but it is still overpriced!

Patience, Patience and More Patience

House 4: The key did not work. I called the listing Realtor, and her spouse came to open up. He said the lock was frozen, but they had not unlocked the second deadbolt and did not leave the key for it. The house was a flip, and while the improvements were well done, they did not consider what home buyers wanted in 2024 and 2025: a primary bedroom with walk-in closets and a primary ensuite. Yes, they would have created a two-plus one-bedroom home instead of three small bedrooms plus one in the lower level—still, $50,000-$75,000 for lipstick on a pig.

House 5: A total disaster, and I am being kind, a good $100,000. It had been on the market for 81 days, had been reduced three times, and was handled by the second Realtor.

House 6: We were there fifteen minutes early. I knocked on the door, and the person who answered was not very pleasant and told me to come back. Even though it was snowing, at minus 8 degrees Celsius, we did. The house needed many updates and had been on the market for over six months, and we were given grief for showing it. Hmmm, I guess buyers must be a nuisance!

House 7: Only 9 years old, with excellent curb appeal and vacant; it was hard for the buyers to envision where their furniture would fit. There were quite a few touch-ups to be made; it seemed that whoever cleared the house out was in a hurry. This was slightly above the buyers' $850,000 range and showed well—the marketing brochures featured glamorous photos of the real estate team, with little information about the house. Buyers want to know more about a property than about the Realtor’s egos.

The Home Seller Was Present

House 8: It had great curb appeal; however, the interior was very dark. The owner was present and somewhat confused about our presence, but pleasant, and remained in the living room while we attempted to turn on all the lights, open the curtains, etc. There was a large patchwork on the basement ceiling, most likely caused by a leak somewhere in the kitchen. It is still a consideration due to price, style, and location.

In Summary

We saw eight houses between 10:30 and 4:30 that Saturday. After seeing eight properties, they were tired, having flown in from the States the day before. However, they asked if they could return on Sunday to see houses #1 and #8 again.

The results

We saw house # 8, and guess what? The homeowner was there again, unaware that we had a confirmed appointment. She was kind enough to let us and my clients felt uncomfortable the second time with her there again. A very pleasant lady, my clients asked why the listing Realtor did not even attempt to be present, turn on all the lights, open the blinds, and let us know when and why the leak occurred and whether it was repaired.

We saw house #1 around noon. I called the listing Realtor about the age of the roof and the furnace, and she responded promptly! I had brought a light bulb to see if the lights worked. They did; it was burnt-out light bulbs, not the electrical. We offered that afternoon; my clients flew back to the States. On Monday, our offer was accepted without conditions, and everyone involved was happy.

In Closing:

I understand that home sellers want to get as much money as possible. Yet the brutal truth is that price dictates when, how quickly, and how much the home sells for. During COVID, my granddaughter could have plopped a sign on a lawn and sold a home with twenty-plus offers. Today, plopping a For Sale Sign on the front lawn does not guarantee a sale!

I understand that home sellers want to or have to pay off a few debts or rearrange their finances. However, what a reasonable home buyer is willing to pay and the market’s supply and demand determine the price.

Real estate agents are either transactional or transformational. It is in the best interest of both the home seller and buyer to know which type they are.

Realty and the brutal truth, in most instances, are not what a home seller wants to hear or do. Now, you know why some houses and condos take longer to sell!

The End

In a recent national survey of thousands of home sellers, they were asked, “What did you find most challenging or stressful about selling your home?”

• 13% preparing their home for sale

• 10% dealing with a Realtor

• 9% of the paperwork

• 7% open houses

• 20% uncertainty of whether their home will sell or not

• 41% of the negotiations involved back-and-forth discussions. Was their realtor strong and skilled enough to handle the process?

London, Ontario Home Seller Concerns

This is an unofficial compilation of concerns I frequently hear from clients and prospective sellers.

• Price (Not surprisingly, almost everyone!)

• Showing the home (Keeping the place tidy and show-ready, and managing the disruption of leaving the home or packing up the kids or pets).

• Safety and security for those viewing the home.

• Buyers Qualifications

• Closing costs

How Do Buyers Know About a House or a Condo in London, Ontario & Area Is For Sale?

In 2023, 96.7% of homes sold were previewed by buyers on websites, either through Realtors’ sites, MLS, or social media! In 2025, 100%!

It is becoming increasingly easier every year to search for homes for sale from any device, anywhere, at any time!

Knowing the above numbers and how buyers find your home among competing listings will help you make informed decisions. Ensure that your home stands out & gets noticed!

Virtual tours of your home should be compatible with desktops, tablets, or handheld devices. Floor plans and 3-D work well.

Social media, blogs, and multiple websites expose your home to a broader audience of buyers.

See our home sellers guide for some great tips and ideas

Which of the following three online searches would you prefer?

44% of the buyers who walked through a home viewed it online

Sixty-seven percent of buyers who walked through a home had viewed it online and taken a virtual tour.

88.6% of buyers who walked through a home had viewed it online, which had floor plans and a virtual tour.

Strategic presentation tools differentiate between a buyer who sees and potentially buys a home and a buyer who merely deletes it from their search.

The Five Letter Word That Matters The Most: ‘Price’

London and Area Home Sellers: You Only Have 3 Pricing Strategies — Which One Are You Choosing?

When it comes time to sell your home in London, Ontario, your pricing strategy will make or break your results. And no matter the market—sellers, buyers, or balanced—every seller has just three choices:

Price At the Market
Price Behind the Market
Price Ahead of the Market

Let’s break each one down, so you can decide which approach works for you, and what the consequences are.

Read More and Sell For More!

What is stalling London, Ontario home sales, and how can you take advantage of this market, whether you are a buyer or a seller?

BMO Capital Markets has been transparent about what is holding back the real estate market: the spread between what sellers want and what buyers are willing to pay.

At the bottom of this blog, I will articulate the best I can how this will affect you if:

• You don’t care what the market does.

• You are thinking of selling.

• You are thinking of buying.

• You are thinking of buying and selling.

• Your home is for sale now.

Robert Kavcic, senior economist, describes it as a “wide bid-ask spread” that has prevented the market from clearing, leaving listings to languish. The only durable remedy is to close that gap.

There are three theoretical ways to achieve it.

• The first is forced selling, which would require a deep recession, rising defaults, and job losses, a scenario neither imminent nor desirable.

• The second is a substantial drop in mortgage rates to the low three-percent range, requiring a roughly 100-basis-point cut from current levels. That path is considered improbable in the near term.

• The third is price reductions. BMO regards this as the most realistic outcome. RBC reaches a similar conclusion, noting that moderating prices in several regions have delivered the most remarkable affordability improvement in three years, encouraging more buyers to act.

 Price Movements Are The True Lever Of Affordability

In the current interest rate environment, the arithmetic of affordability favours price declines over marginal rate cuts. Consider a $700,000 home with 20 per cent down, a 25-year amortization, and a five per cent mortgage rate. A five per cent drop in price reduces monthly payments by approximately $165. By comparison, a 25-basis-point rate cut on the same home saves about $58 per month.

The implication is straightforward: in the near term, further price moderation will have a greater impact on unlocking demand than incremental moves by the Bank of Canada.

Daniel Foch wrote: “September’s influx of new listings will test the market’s resolve. CREA (Canadian Real Estate Association) highlights this as a pivotal moment, when the balance between buyer demand and seller supply could either sustain recent gains or compel further price concessions.”

He further wrote: “The outcome matters because the recent lift in sales reflects opportunity rather than exuberance. With mortgage rates still high, price adjustments have been, and will remain, the most powerful lever for unlocking demand. In many major markets, values have eased just enough to restore some affordability, drawing sidelined buyers back into the market. “

How This Will Affect You

You Don’t Care What The London Ontario  Real Estate Market Does!

The real estate market affects everyone, from tenants and landlords to developers, as well as the commercial and industrial workforce, and affordability. Even if you have no intention of buying or selling, your wealth or poverty status is irrelevant. You don’t have to guess what drives interest rates, population growth or decline or demographics.

Reality is neutral.

You Are Thinking Of Selling.

You have two choices: price to sell or price to sit.

Thinking Of Buying.

The smartest move in a London, Ontario Buyer’s market is to buy now! 

You Are Thinking Of Buying And Selling.

What you can buy for and sell for is the spread, a few synonyms: unfurl, broaden, expand, proliferation, advance and reach your net worth!

Your Home Is For Sale Now.

Your pricing strategy will make or break your results. And no matter the market—sellers, buyers, or balanced—every seller has just three choices:

1. Price At the Market

2. Price Behind the Market

3. Price Ahead of the Market

What are the consequences?

Wondering What To Do?

Sell, buy, stay, sit, guess?

Allow me to help you understand the London Ontario real estate market

If you’re selling your home, there’s nothing quite like the gut punch of low-ball offers in London Ontario. You’ve priced your property carefully, it’s beautifully presented, and then—wham!—someone tosses out a number that feels like an insult.

Here’s the thing: low-ball offers happen, especially in a buyer’s market. They can be frustrating, but they don’t have to be deal-breakers. With the right strategy (and the right Realtor), a low offer can become the start of a real negotiation, not the end of it.

What Exactly Is a Low-Ball Offer?

Pretty much what it sounds like: an offer significantly below your asking price, typically 10% to 20% lower, or more.

Why do buyers do it?

• They want a deal.

• They’re testing your flexibility.

• They want to see if they can get lucky.

Low-ball offers often come with “sweeteners” to make them look more appealing:

• Cash offers for a quick close.

• Fewer conditions (waiving inspections or appraisals).

• Repair requests or credits to justify their price.

From a buyer’s perspective, it’s just a strategy, or in 90% of the time, false perceptions! For a seller, it feels personal. But it doesn’t have to be.

A Real-World Example

You list your home for $800,000—priced right for the market, in excellent condition, and in a desirable neighbourhood. Then someone offers $700,000.

Why would they do that?

• Market conditions give them the confidence to push.

• They see (or invent) flaws to justify a discount.

• They’re hoping to “meet in the middle.”

• They love the house but can’t afford the full ask.

The Realtor Factor

Here’s what most sellers don’t realize: In many deals, it’s not the buyer or the seller who derails negotiations. It’s the Realtors.

Every offer is reviewed by two people: the buyer’s agent and the seller’s agent. If one of them lacks skill—or lets ego take over—the deal can implode before it has a chance.

A skilled negotiator knows how to:

• Read the other agent’s style without getting rattled.

• Keep communication productive, not personal.

• Turn a bad offer into a constructive conversation.

This is not the picture your Realtor uses on her Facebook pages

Unfortunately, not all Realtors are skilled negotiators. In fact, I’d say most aren’t.

The Five Realtor Types (and How They Can Sabotage a Deal):

1. The Ghost – Disappears when it’s time to talk numbers.

2. The Bulldog – Pushy, combative, and thinks “winning” is the point.

3. The Rookie – Nervous, inconsistent, and overly reliant on scripts.

4. The Bluffer – Creates false urgency, bends the truth.

5. The Performer – Loves the drama more than the deal.

After selling hundreds of homes in London and the area, I’ve seen them all. Most low-ball offers in London Ontario and anywhere come from agents who haven’t done their homework—or believe they’re “King Sh*t” because low-balling worked once before.

Try educating them with real data and comparable sales, and you often get dismissed. Ego trumps facts.

And here’s the reality: no amount of staging, marketing, or drone videos can save you if your Realtor can’t negotiate.

How Sellers Can Protect Themselves

1. Expect low-ball offers—they’re part of the game.

2. Don’t take it personally—the first offer is rarely the last.

3. Hire a Realtor who understands negotiation theory, not just sales tactics.

Numbers don’t lie. But how those numbers are presented—and defended—makes all the difference in whether you sell for a price you’re happy with.

If you want more than just a sign on the lawn—and you want someone who can actually handle the messy part of real estate (negotiations)—let’s talk.

What Will Buyers Pay For Your Home?

You might be surprised at the top reasons homebuyers won’t offer on a home. The scariest part is sometimes before they’ve even stepped inside!

A recent Leger survey asked over 1,500 Canadian buyers and sellers what would make them pass on a property. The results reveal dealbreakers that could cost London home sellers showings, offers, and ultimately, their sale price.

Nine Buyer Turn-Offs: Reasons Home Buyers Won’t Offer

• Neighbouring homes in poor condition — 51% said this would kill a deal instantly.

• Lack of curb appeal — 41% won’t even get out of the car.

• Room sizes are smaller than in photos — 40% feel misled.

• Too much competition — 36% get discouraged and walk away.

• Proximity to bars, restaurants, or stores — 28% see this as a negative.

• Cluttered or untidy during showings — 27% can’t picture themselves living there.

• Unhelpful real estate agents — 18% leave with a sour taste.

• Sellers present during showings — 11% feel uncomfortable.

The Silent Killer: Unfinished Projects
Nothing screams “neglect” like half-painted walls, uninstalled trim, or incomplete flooring. Buyers don’t just see the unfinished work — they see future headaches and extra costs. Before you list, wrap up every project, even the small ones.

 Homebuyers have many things on their minds, whether it's financing or finding the right place. Anything else that frustrates homebuyers will not help you sell. They do not need more reasons not to make an offer.

Why This Matters for Sellers
In today’s competitive London, Ontario real estate market, buyers have options. If your property raises even one red flag, they’ll move on to the next home. But with the proper preparation and marketing, you can position your home as the one they want.

Now, If None of The Above Are The Reason, Then Why No Offers?

The Brutal Truth? Price!

Price is not a dirty five-letter word; sold is one of the best four-letter words in the realm of real estate.

 London and Area Home Sellers: You Only Have 3 Pricing Strategies — Which One Are You Choosing?

What’s the #1 thing that makes buyers walk away from a London home?
(Hint: it may not be price.)

Let’s make sure YOUR home isn’t guilty.

The problem with real estate advice is that there is an abundance of it. And free! What is free worth? Exactly!

When I searched for tips on selling your home, I got 697,000,000 results. That is 697 million how-tos. If you were an average reader, it would take you 110.4 years to read them all.

790,000,000 results for tips for buying a home. That would take you 126.1 years!

Now, here comes the scary part: add all the advice from relatives, neighbours, co-workers, Realtors, mortgage people and on and on. No wonder there is a problem of what is best for you!

You can read all you want, search websites, review YouTube, listen to economists or the weather person, but none of that is going to do you any good without common sense. My favourite Mark Twain quote: “The reason there is so much common sense in the world is that very few use it!”

Learning without action will not help. You can look at a terrain map all you want without hiking it; it matters little.

As a Realtor, I am not going to imply that I have all the answers, walk on water, or help old ladies cross the street. (I used to help old ladies cross the street, but as I got older, I didn’t want my wife to think I was flirting.?

There are three ‘P’s in real estate as a seller: Price, Product and Promotion. You, the seller, control the price and product. If you use a Realtor, the promotion should be their value-added involvement.

For buyers, contradictory and incongruent emotions, as well as punitive frugality, are detrimental to their purchasing decisions.

There Are Three Pricing Strategies

Price At the Market
Price Behind the Market
Price Ahead of the Market

Learn how any of those three will affect you!

Does pricing a London, Ontario home slightly high and then lowering the price work? I hear this all the time from home sellers: “Let us list it high because someone will offer us less”!

That thinking worked years ago, but in today’s real estate environment, homebuyers have a tremendous amount of information at their fingertips with just a few clicks. Today’s buyers know prices, and if you list a house or condo for sale in London, Ontario, at too high a price, it could cost you.

The Price

When a home seller interviews a Realtor, it’s easy to get caught up in the excitement of choosing a sales price. If a seller can obtain a higher price for the home, it means more financial opportunities for them. Unfortunately, uninformed sellers often choose the Realtor who tells them they will list it at the highest list price or, worse, the lowest commission. This is, by far, the worst mistake a home seller can make.

Establishing Value:

The reality is that it doesn’t matter how much money a home seller thinks their home is worth. The only people whose opinions matter are the buyer who will make an offer and the appraiser. Pricing a house is part science and part art. It involves comparing similar houses in the neighbourhood, making necessary adjustments for differences between them, charting market movements, and measuring housing inventory, all to help determine a value range.  This is the same method appraisers use to evaluate a house. No two appraisals are the same; they are, however, generally close to one another. There is no hard-and-fast way to determine a home's price in London, Ontario, and the surrounding area.

Is the Price Too Low?

Houses sell at a price a buyer is willing to pay, and a seller is willing to take. If a house is priced too low, the seller should expect multiple offers and can use them to drive the price to market value.  There is little risk in pricing a home below its actual value and your client's valuation. The danger is pricing a house or condo too high and having it sit on the market for weeks, even months.

How It Starts To Go Wrong

The home seller did not interview more than one Realtor. They may have chosen the first Realtor they found online because of their very low commission, or a friend or coworker recommended them.  The first Realtor priced their house at $795,000. After 90 days of sitting on the market, the listing expired.

It Continues To Go Wrong

The Realtor they hire lists the house for $775,000. A few weeks later, the price drops to $765,000, but no offers are made. A few people looked at the house, but no serious buyers came forward.

The Home Owner is Now Tired & Exhausted

The home seller and the Realtor then priced the home at $737,000, and it sold very quickly.  The sad part is that the comparable sales in the neighbourhood fully justified a price of $755,000, but the home had been on the market for too long at the wrong price, and now the market had slowed.

Protect Yourself

The question is, how much money does an expired listing cost the homeowner? The financial losses often exceed the extra mortgage payments made and extend beyond the cost or hassle of keeping a home spotless during the listing period. It affects the price a buyer ultimately pays because it is no longer a “fresh” listing.  It’s now stale, dated, a home that was overpriced for too long.

Don’t let it happen to you. Don’t be that seller of an expired listing.   Be sure to hire a professional Realtor to price your home correctly from the beginning.