We had planned on posting this last week, but got interrupted by the changes to mortgages in Canada. So without further adieu…
A simple salability checklist.
This is not intended to be an all purpose list but it is intended to help some people give their heads a shake. Here are my top four tips to avoid having your listing expire (and to get your home sold!):
- Pricing. This is very important and is partially determined by supply and demand. I don’t care if there are 30 units for sale just like yours asking the same price if none of them are selling that won’t help you. Look at the ones that sold and when then they sold. Best bet hire a REALTOR. Some will tell you to use an appraiser and I’ll tell you I’ll see you in 6 months when you haven’t sold. Especially if you understand how appraisals work. Certainly your competition is an indicator but if they aren’t selling then figure out who is and price accordingly. Again, best bet here is to hire a REALTOR.
- Marketing. Okay people this is going to sound really harsh but is worth spending some time on. Where is your property going to be marketed? How often and for how long? What type of marketing? What is the quality? (samples would help you here). If you don’t ask, you get what you get, and if what you get is the do it your self hand book that says you’ll save the commission in one breath and in the other to reduce your price by the amount you’ll save I’ll see you in another year when you still haven’t sold.
- Service. However you sell your home or your property servicing your sale is hugely important. This in and of itself could be an entire set of blog posts but a few examples include scheduling of appointments, following up on showings, feedback, working with interested parties, providing information and communication, monitoring changes in the marketplace, monitoring the transaction, identifying and dealing with issues, potential issues and so on…
Accessibility. Make your property as accessible as possible and as attractive as possible. The REALTOR has the huge advantage through the MLS since most listings require very little notice and the agents always have access to the key box. This is why your home should always be in showing condition. You never know when the buyer I’m showing may want to change directions and view your home instead of the ones I have set up.
If you follow these simple steps you’ll at least increase your chance of selling in a time when over 80% of the homes on the market each month don’t sell.
