Thinking of listing your home? Here are the most common questions asked by clients during the listing presentation.
What price will my home be listed for?
There are many factors that go into determining the price your home will be listed for, main considerations include;
- Recent sales in the neighborhood
- The style of home makes a difference (a 2-storey with basement is going to be a much different asking price than a rancher)
- Number of bedrooms and bathrooms, and the condition of them
- How motivated the seller is
The key is to use data intelligence to determine the best price for any new listing. Pricing too low leaves money on the table, where as pricing too high leaves your home stagnant on the market.
How long will my home take to sell?
Again, we need to consider a number of factors; the overall market being a big one. In 2016 we saw homes in the Fraser Valley sell faster and for more money than we have in recent years, in fact the selling rate of homes in 2016 was the fastest in history.
- Again, the price point you are asking for your home dictates how long on market. A more competitive price means a larger buyer pool, and is likely to sell relatively quickly. A more higher price point limits the buyer pool, and may leave your home on the market longer.
- What season you are listing in. There are two schools of thought here;
- By selling in November / December you will have less competition as the market is not saturated with listings.
- Wait until spring /summer and you are likely to have more action, but not necessarily more money because inventory is at its annual high.
Typically, the most homes are listed and sold in the spring and summer months, which means not only do your buyers have a larger inventory pool to pick from, but so do you and your family.
What do I need to do to get my home ready to sell?
Depending on the age of your home, the maintenance of your home, and the overall aesthetics of your home, you may have a long or short list of projects prior to listing (and having a quick, and issue-free sale). The best advice for someone selling an older home: get a pre-sale home inspection. This will give you all the information you need on what issues may impact the sale of your home. Know what needs to be fixed, and fix it! Top fixes for sellers;
- Painting the most cost effective way to majorly transform your home. Choose neutral colors.
- Clean & Declutter! Nothing like little old fashioned elbow grease to spruce up your place, and don’t forget to make it smell nice! If your home stinks, so will the likeliness of offers.
- Kick up your curb appeal! You get one chance to make a good impression – so use it! Make sure your doorbell works, your lock does not jam, your yard is clean, and any visible repairs are addressed (is your driveway cracked? Do you have broken fence boards?)
If your home is dated, you may need to consider a larger price tag for pre-sale home reno’s. Best place to start? Your kitchen and bathroom.
- Kitchen reno best bets: counter tops, cabinets, flooring, lighting, faucets
- Bathroom reno best bets: counter tops, cabinets, flooring, storage, lighting & overall cleanliness
The best advice for someone selling an older home: get a pre-sale home inspection. This will give you all the information you need on what issues may impact the sale of your home. Know what needs to be fixed, and fix it!
What is the number one piece of advice you can give?
Best piece of advice for someone considering selling their home: work with someone you feel comfortable with, that you trust, who is knowledgeable about the history of the community, can answer all your questions and give you confidence that they will do a good job for you.