Selling a home is a project which if planned and executed right can reap the due benefits by allowing us to sell the property in less amount of time and at a reasonable price. The benefits of listing a home professionally go a long way, as we do not sell properties daily, it deserves the right attention to detail to ensure we get the best chance to showcase our listing in a correct manner.
Meticulous Evaluation
The first step in selling a property is its evaluation and agreeing on the right Pricing which is fair in the current market. And the price which justifies the listing. A real estate professional should objectively conduct a fair comparative analysis of recent comparable sales in the area. Going through them and meticulously accounting for adjustments and features in your subject property. Our team here at Elixir actively follows a detailed adjustment process, objectively carried out to determine the fair market value. A value which ensures we as a Seller receive the equity built in our home and at the same time which is fair in the market for a buyer.
Listing Higher than Fair-Value
Listing a home at a higher price than its current market worth will not help the listing sell or gain any views. If we pitch a property at a higher price point, it turns into a reference house for similar properties in the market that are priced correctly. Another downside of pricing higher than the fair market value – it reduces exposure to any qualified buyers. Because, many prospects who had budget to purchase did not even look at it on MLS because we pitched incorrectly.
Listing Lower than Fair-Value
On the other hand, if you put it for less price on the market, sure it will sell fast. However, you will lose out on the money which property rightfully commands. We should avoid this because, as sellers who do not often sell homes, we deserve to receive the rightful equity built in the home upon selling. This is where our team ensures that we do a thorough and professional job in evaluation.
A decent job done in evaluation and pricing of a home results in decent showings on the listing. And quality showings do translate in offers. A decently listed property typically features a good number of showings. The rule of thumb for asking price is that it should look and feel like a ‘good investment’ to prospect. This will encourage them to put an offer that is what you want as a seller. For an in-depth look at the pricing please refer to one of my articles here at Home Pricing for Sellers.
Professionally Presented Property
Clean and Attractive Listing
Now that we have discussed the pricing, the second most important component of a listing is the Product, which is the home itself. Let us ensure listing looks very clean and enticing to the viewer. This will allow them to visualize themselves living in the property. This would require a bit of planning and detail; implementing any cost-efficient upgrades which can give a face-lift to the property, for a great lasting first impression.
Well Staged Listing
The home which is not presentable and has a dark look will dissuade any prospective buyer from even entering the house. The property and its every nook and corner should be impeccably clean, without any odours or clutter. Making a home presentable and well-staged ensures that the showings translate to successful offers and the house is not on the market for a long time and becomes stale on the market. A presentable home is a hallmark of professional listing. Please feel free to refer to an in-depth article on Home Staging on how you can stage your house and handy tips to ensure that it is ‘Showing Ready’.
Honor Showing Requests
For a successful and professional listing in the market ensure that once listed and active on market; you entertain all showing requests. The fundamental always holds well: Home that Shows Well..Sells Well. With restrictions on the time slot for the viewings, it will discourage prospective buyer. And, this is the last thing you want. Therefore, as a rule, as you go live on MLS, make your best effort to accommodate all viewing request which comes your way.
Wish you all the very best! Reach out to our dedicated team at ELIXIR for any queries you have in Real Estate and we will provide the best help.
Mudit Mehta
Broker of Record,
Elixir Real Estate Inc.
Office: 416-816-6001
Email: info@ElixirRealEstate.ca
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