It’s no secret that most of British Columbia is currently in a buyer’s market when it comes to real estate. But while sluggish home sales may be skewing B.C. real estate towards favouring buyers at the moment, there are several time-tested tips and techniques that sellers can use in any market to sell their homes faster, easier, and at a higher price.
Tip #1: Set a realistic asking price
Especially in traditionally hot markets like the Lower Mainland, sellers can sometimes fall into the trap of trying to price their property to reflect past property values rather than the current market conditions.
But chasing after last year’s prices will only end up scaring off potential buyers, or having your property sit on the market for longer than you’d like or can afford. So when deciding on an asking price, work with your REALTOR® to set a value that’s based on comparable listings that are currently for sale in your neighbourhood, city or community.
Tip #2: Put your home’s best foot forward
Help your property stand out from the competition by taking care of any easy fixes and repairs, de-cluttering your home, investing in a few simple or inexpensive renovations or upgrades, and boosting your home’s curb appeal with a little landscaping or a fresh coat of paint.
Depending on your property, you may also want to hire a professional home stager, use AI tools to virtually stage your property, or ask your REALTOR® if they have any advice on how you can make your home more appealing to potential buyers.
Tip #3: Be flexible
You never know which buyer will be the one who ends up making an offer. So keep your property neat and tidy at all times, so you can be ready to accommodate any last-minute requests to view your home on short notice.
If you’re in a rush to sell, let your REALTOR® know that you’re willing to be flexible on things like the closing date, sale conditions, or what you’re willing to include with the purchase price.
Tip #4: Have a targeted marketing strategy
Don’t waste your time or energy on outdated advertising and marketing strategies that no longer work in today’s competitive marketplace. Instead, do everything you can to reach the right buyers, and set your home in the best possible light.
This could mean anything from having professional photos and videos taken of your property before you list it, to tailoring your listing and marketing efforts to attract the most attention, reach the widest possible audience, and speak directly to what buyers in your area want most in a home right now.
Tip #5: Hire a professional REALTOR®
Last but most definitely not least, hire an accredited, professional REALTOR® who has experience with your neighbourhood and property type – and who you feel you can trust.
Choosing a REALTOR® who understands the local market, knows how to showcase your property to the right buyers, and can help you negotiate the best possible price for your home may be the most important decision you’ll make as a seller, regardless of which way the markets are or aren’t heading.
Questions?
Curious about how you can make your property more attractive to buyers? Contact us to schedule your free in-person consultation.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.