Trouble Selling Your Home?
Are you looking to move up the property ladder but you are having a hard time selling your home? Here are some of the most common reasons clients have trouble selling:
- Location, location, location
- It's the oldest real estate cliche there is, but likely the most accurate. When buyers are looking for a property, they will always consider the street, neighbourhood, crime, proximity to schools and so on. If you are not in a good location, your price is likely going to have to reflect this reality.
- Price is too high
- This is likely the most common mistake clients make, over valuing their home. The market dictates what a home is worth, and if there are nicer properties for sale than yours and they are priced sharper, they will sell. It's important to maximize the amount you get out of your house however you have to be realistic as well if you are hoping for a quick sale.
- Condition of the home
- If you want to maximize your sale price, the condition of your home is likely the single most important thing you can do to impress prospective buyers without spending a lot of money on expensive renovations. There is a lot of competition out there, the better your home looks, the more likely it will stick in buyer's minds after they leave. Having your home staged (professionally decorated and arranged) is a great way to sell faster and for more money!
- Slow market
- During periods of slow activity in the real estate market, selling your home can be very frustrating. The best thing you can do to sell quickly is to have the home show very well and price realistically. Working with an experienced realtor who knows how to market during these difficult times is very important as well.
- Your realtor
- Many clients try to save money by using a realtor from a discount brokerage, this can work well in a busy market when demand is high and product is low. When the market is not hot however, many realtors will simply not show your home if they know they can make significantly more money selling a different house down the street. Keep this in mind if time is of the essence on your sale.
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