Every day, thousands of Canadians across the country list their homes for sale.
Selling a home or investment property is always an exciting and stressful decision. But between political and economic uncertainty here at home, the reality of shifting international relations, and our own always-evolving local housing market, more and more sellers in Metro Vancouver are wondering about whether or not now is a good time to sell.
But no matter what the short- or long-term economic picture may tell us, there have always been a few key fundamental rules of thumb that sellers can follow to help them sell their home quicker, with less stress – and for the highest price possible.
Tip #1: Decide on the asking price
For most Canadians, the biggest question when it comes to selling their home is what price to ask for. Answering that question can be a lot more complicated than you might think.
The right asking price will depend on a whole range of different factors, from how the overall markets are doing and what comparable properties in your city or town are currently selling for, to whether or not your home has any unique features that buyers might find particularly interesting, what the local market conditions are like in your neighbourhood, and what kind of pricing strategy you want to follow.
Because there are so many factors involved, most sellers find that working with a REALTOR® can save them a lot of time and stress, and make sure they have access to the most up-to-date information and advice before they make any final decisions.
Tip #2: Get your home ready to sell
To get the best price and sell your property as quickly as possible, do everything you can to enhance your home’s curb appeal and make it sparkle inside and out.
That doesn’t have to mean investing thousands of dollars or hundreds of hours of your time. It can be as simple as doing a little decluttering, replacing some broken lightbulbs, planting a few flowers, or maybe giving your home a fresh coat of paint.
If the market in your area is especially tight right now, you could also ask your REALTOR® to recommend a good home stager who can help you make sure your home stands out from the competition.
Tip #3: Familiarize yourself with the selling process
For many people, the whole process of selling a home can be a little mystifying, or even a little scary. This is especially true if this is your first time selling a home. So it can often be a good idea to get to know what will likely be involved in selling your home, so you can avoid any unpleasant surprises later on.
For example, do a little research into some of the things a bank or potential buyer might want to know about your home before they make an offer, like how appraisals work to estimate the value of the home, what a home inspector will look for when assessing your home’s condition, what a title search is and why the buyer will need to see one, or what your strata documents will reveal if your property is a condominium.
Tip #4: Be ready to answer a few questions
Most buyers will want to ask a few questions about the property you’re selling. Anticipating and preparing the answers to those questions ahead of time can give you a little extra peace of mind, and help make sure a good offer doesn’t slip through your fingers.
For example, ask yourself (and make sure you can answer) questions like how old the home is, what are some of its most unique features, if there are any known issues with the property, what upgrades or renovations have you done (and how recently), what will be included in the sale, what the local neighbourhood is like, and how close you are to schools, parks, transit options and other amenities.
Tip #5: Hire a REALTOR®!
Finally, find and choose a REALTOR® who knows your market, has experience with the kind of property you’re selling, and who you trust and feel like you can connect with.
In addition to listing and marketing your home, your REALTOR® will help handle everything from hosting open houses, arranging showings and taking care of all the paperwork, to navigating multiple offers, negotiating the best price, and referring you to their network of mortgage brokers, lawyers, and all the other professionals you’ll need to have on your team.
Thinking of selling?
Have any questions about selling your home or investment property in today’s market? Contact us today to book your free consultation!