The London home seller formula has four ingredients. Like baking a cake, if you leave out one or disregard it, you will not meet your expectations!
Excited that we sold your home is good, leave some energy to start packing!
In selling hundreds of homes in the London, Ontario area, these four core ingredients make up the London home seller formula. Yes, you can add a dash of this to match your taste, but you will still want these four to be the main content.
Location
The pricing should reflect the location. Enough said.
Condition
The pricing should accurately reflect the condition, both inside and out.
The Market
The market is made up of interest rates, mortgage availability, competition, and the public’s perception of the general economy. If you must sell, price and condition will help. If you are fishing for a price, you may not have enough compelling bait.
Price
Price is the #1 most important factor in selling a home. The consequences of making the wrong decision can be painful. If you price your home too low, you will give away thousands of dollars that could have been in your pocket. If you price it too high, your home will sit unsold for quite a while, developing the reputation of a problem property (everyone will think there is something wrong with ii)
What you pay for your property does not affect its value.
The amount of money you need to get from selling your property does not affect its value.
What you think it should be worth does not affect value.
What another real estate agent says your property is worth does not affect its value.
What your uncle, your hairdresser, your parents, or your children say it is worth ( even though they have your best interests) does not affect its value.
An appraisal does not always indicate what your property is worth on the open market.
The value of your property is determined by what a ready, willing, and able buyer will pay for it in the open market, which will be based on the value of other recent closed sales.
I have hundreds of blog posts about these ingredients that describe each formula in more detail.